700 MAIN: WHAT DOES THE FUTURE HOLD?

700 MAIN: WHAT DOES THE FUTURE HOLD?

The FUMC trustees are at work to determine a viable path forward for our facility at 700 Main.

The question at hand is, can the building, which is in need of far-reaching repairs, be brought back to a useful state, or should it be demolished?

In the last five years, two different teams have studied this question. In addition, church member and professional commercial realtor, Bob Howard has observed that the downtown Peoria real estate market has dried up, with many commercial spaces in the city remaining empty.

FUMC Trustees Chair, Ted Krupa explains, “In order to get an occupancy permit, we hired a professional engineer, and consulted with six different contractors to determine the requirements for an occupancy permit going forward.”

The trustees have discovered that there are ten critical points of repair needed to the building with an estimated total price tag of at least $637,000. These include such things as elevator repairs, major work on air and heating systems, asbestos removal, roof work, and more. The possibility that 700 Main could once again pay for itself (taxes, maintenance, and utilities) is low. Just the cost to maintain the building in 2019 was over $40,000. We expect that in the future, these costs will be in the range of $50,000 to $80,000. Unfortunately, the longer the building remains empty, the more it will cost to get it ready to use again.

As trustees work towards a recommendation for the Church Council,  if you have any questions or concerns please email FUMC Director of Administration and Facilities, Diane Broe, by clicking below.