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  5. ›Purchase and Development of City-Owned Property in the Riverway Bus…

City of Pekin·Illinois

Purchase and Development of City-Owned Property in the Riverway Business Park

Closes 8/28/2026$1M – $50MRequest for Proposal
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Description

The City of Pekin is soliciting proposals for the purchase and development of approximately 8 acres of City-owned property along Frontage Road in the Riverway Business Park. Respondents are responsible for investigating the current conditions of the site. Proposals will be evaluated based on the highest and best use of the property, as well as its economic and financial impact on the City. • The proposal must be submitted in hard copy at City Hall by 5:00 PM on August 28, 2026. • The City is looking for the highest and best use of the property. • Proposals will be evaluated based on economic and financial impact to the City. • Respondents are responsible for investigating the current conditions of the site.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Josh Wray(Director of Economic Development)

[email protected]

Key dates

Opened
8/13/2026
Closes
8/28/2026

Last updated

Details

Type
Request for Proposal
Industry
Real Estate
NAICS
531110

Budget estimate

$1,000,000 – $50,000,000

The budget for this project is difficult to estimate without more information on the specifics of the development. However, considering the purchase and development of 8 acres of land, the cost could range from a few million to tens of millions of dollars, depending on the type of development and the materials used. Factors that may influence the likely payment range include the cost of land acquisition, construction costs, and the potential revenue generated by the developed property.

AI estimate from the solicitation

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