Nonprofit takes ownership of Twin Towers Mall in Peoria

Twin Towers Mall Peoria
Twin Towers Mall Peoria(25 News Now)
Published: Sep. 15, 2022 at 4:09 PM CDT
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PEORIA (25 News Now) - Peoria’s Twin Towers Mall is under new ownership.

The mall now belongs to Illinois Business Financial Services, a nonprofit that provides financial resources through loans, grants and other programs, according to a release.

IBFS President and CEO Erik Reader says the organization has a 41-year history of facilitating economic development activities in the region.

“There has been over $130M invested to assist over 200 businesses resulting in hundreds of jobs being created or retained over that time,” he says.

With the newly acquired property, IBFS plans to bring the building back to life and fill it with more businesses for the community to enjoy. Businesses and tenants currently housed within the Twin Towers Mall will not be affected.

“The idea that we are moving forward with is to create a new energy as a central place to dine, shop, or enjoy entertainment,” Reader said. “Downtown is the core of activity and with a modern spin, the mall can link up with many other amenities in the area to add vibrancy.”

Reader says the goal of the project is to refresh the image of the property, leverage its location as a destination and to foster a sense of community.