PEORIA (WEEK) – Properties sold at record highs this past summer in the Southend neighborhood of Peoria. Most of the homes are rehab properties and sold for as low as five thousand dollars. The oddly low prices incited buyers from around the country. Some buyers never having been to the city of Peoria.
Many people from Peoria have mixed feelings. Some are completely unaffected while others are asking why the city would allow the sale of condemned houses. Joe Dulin, Assistant Community Development Director of the City of Peoria, says ” the city was not the agency selling those properties nor did we have any control of what happened.”
Dulin explained ” those properties were purchased at a county level.”
However, the city of Peoria will ensure that the new homebuyers will follow the existing standards to bring property up to code compliance or the property will have to be demolished at the home buyer’s expense. ” There’s a reason there being sold for such a low amount and there’s a reason it’s not attracting local buyers. Because the market does not support the prices of these houses because they need to be demolished.” says Dulin.
The city had to freeze the demolition fund back in 202 due to COVID but, have been open to other financial opportunities to demolish the existing properties that have been considered condemned for some time.