Investing in Peoria, IL

[Jesse Fernandez]

Hi all BP folks! 

I've been evaluating the RE market in Peoria, IL. In my opinion, population growth, job diversity, supply demand, and a few other markers are making me feel okay with investing in MFH in this market. 

However, one thing that was pronounced in my evaluation was the crime rate. 

I am an out of town investor so I would love to get a local investor's perspective on Peoria and directional advice would be great thx

[Jesse Mitchell]

Hi @Jesse Fernandez glad to hear of your interest in Peoria. Peoria is a city with its share of problems but my wife and I love it here and see the future as very promising. And yes, Caterpillar has decided to move its HQ and its 300 top execs to Chicago land area... but will leave behind a strong downtown presence and remain very active in the local economy here.  The bread and butter of Peoria is their exploding warehouse district with many rehabbed buildings and new businesses coming in.  Picture Peoria as a city that "gets it" now but didn't for a long time, that puts us farther behind more progressive cities in terms of green infrastructure and bike lanes etc. but moving in the right direction, and all that circles back around to your question on crime. Yes, Peoria has its share of crime but it is located in certain pockets of the city as to be expected. I think as development continues and your tax base increases you are able to reinvest in more community development and police officers, I think at that point it snowballs and continues to improve.  Best of luck! Feel free to dm me if you have any questions about specific areas. 

Cheers

Jesse