Once slated for a gas station, this land in Peoria Heights is now up for sale

A plot of land once slated to be a gas station in Peoria Heights is for sale, leaving uncertainty about an agreement between the village and a developer.

Four parcels of land at 1001 E. War Memorial Drive are being sold for $1.5 million after they were purchased by developer Mark Petersen in 2022 for $975,000.

Petersen and Peoria Heights once agreed to a redevelopment deal for the land which would have seen it turned into a gas station.

It would have been the second new gas station development on that stretch of War Memorial Drive in Peoria Heights, joining a Beck's gas station that is near completion.

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The original deal would have allowed the developer 100% tax-increment financing reimbursement during the first two years of development to offset heavy upfront costs before going down to 75% reimbursement over the rest of the TIF.

But it appears developer is moving a different direction with the property, details of which are scarce for Peoria Heights officials.

Petersen is also the developer who put together the Louisville Slugger complex in Peoria and owns Petersen Health Care and Petersen Hotels.

Part of the land was once home to Gregg Florist, a flower shop in Peoria Heights that had been in business for decades in the village. That building was torn down after the sale.

More: Prominent land in Peoria sold for $4 million

This article originally appeared on Journal Star: Prominent land near Peoria once had major plans. Now it's for sale