Site once planned for a hotel in Peoria Heights is now listed for sale

JJ Bullock, Peoria Journal Star

Sat, May 11, 2024, 5:02 AM1 min read

A "For Sale" sign stands between a pair of newly renovated commercial buildings known as the Prospect Mall at 4615 Prospect Road in Peoria Heights.

Renovations at the Prospect Mall in Peoria Heights have been completed and the site is drawing significant interest from buyers, according to real-estate agent Julie Bielfeldt.

Baldovin Construction renovated the complex, which sits at 4615 Prospect Road in Peoria Heights, turning it into a commercial space that is currently listed for sale for $2.3 million.

Once a project of developer Kim Blickenstaff, the Prospect Mall was originally slated to be a hotel, but those plans never came to fruition. The site was not originally among those Blickenstaff listed for sale in April 2023.

Another prominent property owned by Blickenstaff's KDB Group also has been recently put back on the market. The Scottish Rite Theatre is again listed for sale after it had been pending a sale in March. The asking price for the historic theater is $6.8 million.

More: Abandoned and for sale: What we know about 13 properties connected to Kim Blickenstaff

The newly-renovated Prospect Mall at 4615 Prospect Road in Peoria Heights has been completed and is on the market.

This article originally appeared on Journal Star: Prospect Mall site in Peoria Heights is now listed for sale

How a peak boomer who moved from Texas to a tiny home in New York lives 'perfectly comfortably' on less than $30,000 a year
Sam Mitchell lives comfortably in a tiny home in upstate New York making less than $30,000 a year from Social Security.
Business Insider•
Home prices are falling at the fastest pace since 2022 as stubborn interest rates slash demand
Across the US, 6.4% of sellers issued a price cut in the month leading up to May 26, Redfin said in a recent report.
Business Insider•
Regional Bank Investors Have No Appetite for Hints of Pain
(Bloomberg) -- When it comes to commercial real estate, investors in the US banking sector are on edge. Most Read from BloombergModi Vows to Retain Power Even as Party Loses India MajorityShort Sellers in Danger of Extinction After Crushing Stock GainsBonds Rally as Traders Reload Fed Bets After Data: Markets WrapStock Pickers Defy Wall Street Norm to Risk It All on a Few BetsIntel CEO Takes Aim at Nvidia in Fight for AI Chip DominanceAxos Financial Inc. — the latest target — slumped Tuesday aft
Bloomberg•
Home prices could drop for the next 6 months as inventory rises by the biggest margin since the financial crisis, investment strategist says
Unsold housing inventory rose 16% year-per-year in April, the highest increase recorded since the Great Financial Crisis.
Business Insider•
Sole bidder Mack Real Estate buys 2,300 acres near Phoenix for $56M
Mack Real Estate's Richard Mack with Taiwan Semiconductor Manufacturing's new complex in north Phoenix (Taiwan Semiconductor Manufacturing, Getty)Mack Real Estate Group has bought 2,300 acres of state land at auction to build a $7 billion tech village in north Phoenix. The New York-based investor, the only bidder, bought the land surrounding the Taiwan Manufacturing Semiconductor plant with a minimum bid […]The post Sole bidder Mack Real Estate buys 2,300 acres near Phoenix for $56M appeared fir
The Real Deal•
Zero-Down Payment Mortgages Return Amid High Housing Costs
United Wholesale Mortgage (UWM), with billionaire Mat Ishiba at the helm, has launched a new zero-percent down mortgage program. This program allows qualified buyers to finance 97% of their home's value with a first mortgage. The remaining 3%, up to $15,000, is covered by a secondary mortgage that carries no interest but must be repaid in full when the home is sold, the mortgage is paid off, or the owner refinances.For example, purchasing a home appraised at $300,000 would entail a $9,000 no-int
Benzinga•
Luxury Home Price Growth Slows In Several Unexpected Markets
Amid soaring real estate prices, several cities have reported minimal increases in luxury home prices over the past four years — defying a broader market trend that has seen home prices grow by a third in most areas over the same period.While luxury real estate typically saw price spikes during the pandemic, markets like Washington, DC, Toledo, Ohio, and Winston-Salem, North Carolina, have seen some of the smallest increases or even decreases in luxury home prices, according to a Realtor.com rep
Benzinga•
Home Price Growth Per Square Foot Outpaces Overall Value Gain, Realtor.com Says
Home Price Growth Per Square Foot Outpaces Overall Value Gain, Realtor.com Says
MT Newswires•
Renters Are Staying Longer Amid Rising Housing Costs And High Mortgage Rates
The reality for many renters looking to purchase a home is bleak, as they face near-record-high housing costs and mortgage rates.However, that problem has been forming for over a decade. In 2022, one in six, or 16.6%, of renters lived in their homes for 10 years or more, an increase from 13.9% a decade earlier. During the same time, home prices have doubled and increased nearly 50% from five years ago, with mortgage rates nearing 20-year highs.The share of renters living in the same home for fiv
Benzinga•
Landlords and investors in the rental space are thriving as soaring prices keep homebuyers sidelined, top real estate leader says
A lot of people can’t afford to buy a home right now, so they’re forced to rent.
Fortune•

News

Life

Entertainment

Finance

Sports

New on Yahoo

Yahoo Finance

Site once planned for a hotel in Peoria Heights is now listed for sale

Recommended Stories

How a peak boomer who moved from Texas to a tiny home in New York lives 'perfectly comfortably' on less than $30,000 a year

Home prices are falling at the fastest pace since 2022 as stubborn interest rates slash demand

Regional Bank Investors Have No Appetite for Hints of Pain

Home prices could drop for the next 6 months as inventory rises by the biggest margin since the financial crisis, investment strategist says

Sole bidder Mack Real Estate buys 2,300 acres near Phoenix for $56M

Zero-Down Payment Mortgages Return Amid High Housing Costs

Luxury Home Price Growth Slows In Several Unexpected Markets

Home Price Growth Per Square Foot Outpaces Overall Value Gain, Realtor.com Says

Renters Are Staying Longer Amid Rising Housing Costs And High Mortgage Rates

Landlords and investors in the rental space are thriving as soaring prices keep homebuyers sidelined, top real estate leader says