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PEORIA—Cities across the Midwest have seen their downtown districts undergo at least partial transformations as an increasing number residents move into former office and warehouse properties. And Peoria, a mid-sized city in central Illinois, is no different.

The Civic Center Plaza, for example, a 137,319-square-foot historic mixed-use building located in downtown Peoria, has just been sold for $7.8 million, and the new owner plans to continue renovating and converting portions of the tower into apartments, according to officials from Chicago-based Triad Real Estate Partners, which brokered the sale.

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