After almost a year, the YWCA building at Lakeview Park
could have some new potential tenants.
At least that's the hope when the building goes up for
auction on Tuesday. Chicago-based Rick Levin and Associates Inc. held an on-site
inspection Thursday in advance of next week's auction.
The 52,014 square-foot building, now bank-owned and valued
at more than $8 million, includes a pool, basketball court, classrooms and
"We think it's a wonderful opportunity for an investor
or a user," said Ira Lauter, of Rick Levin and Associates. "It has a
lot of different potential uses."
The auction will be to lease the building. The land is owned
by the Peoria Park District. The lease ends in 2032.
But whoever takes over the building will have to get its use
approved by the Park District's board of trustees, said Bonnie Noble, the
district's executive director.
"If someone wanted to put Big Al's there, it would get
voted down," she said.
Noble said the district hasn't thought about exactly what
kind of business or organization they'd like to see take over the building. She
described the Lakeview Park area as a "hub of recreational
The building's previous tenant, the YWCA, ran into financial
problems partially prompted by its $3 million loan to add the pool at the
Lakeview facility. The YWCA left the building last fall.
Noble said she is excited about the prospect of filling the
"It's generally our theory that empty buildings don't
provide a quality park," she said.
The auction will be held noon on Tuesday on the property and
online through Rick Levin and Associates. A $100,000 cashier's check is
required to bid and the suggested opening bid is $1.45 million.
At a glance
Address: 1013 W. Lake Ave.
Size: 52,014-square feet
Amenities: Pool, basketball court, classrooms, playground
Value: More than $8 million
Auction: For more information, call Rick Levin and
Associates Inc. at (312) 440-2000 or visit www.ricklevin.com
Peoria Journal Star