A standoff involving the city of Pekin, CVS and the owner of the property where a CVS pharmacy is located in the city threatens to delay the start of a portion of the Court Street reconstruction project.
The city needs to purchase a portion of the CVS property at 910 Court so the part of the Court project between 8th and 10th streets can proceed.
Funded by a $3 million federal grant, the work between 8th and 10th will include wider sidewalks and a new configuration of the Court and 10th intersection.
After having an appraisal done, the city offered CVS property owner Realty Income Illinois $62,200 for a needed strip of land along Court. California-based Realty Income countered with a $116,700 offer.
The city also offered to relocate the CVS sign on the pharmacy's property for a low quote of $27,170. Rhode Island-based CVS wants a new sign installed on the property for $55,345, and wants the city to pay for it.
So the city is offering CVS and Realty Income $93,370 for the strip of land and sign relocation. CVS and Realty Income want $172,045 for the strip of land and a new sign.
The $78,675 difference prompted a special Pekin City Council meeting late Friday afternoon. Council voted 3-1 to offer CVS and Realty Income a not-so-exceed amount of $140,000 for the strip of land and sign.
"It's worth a shot," said council member John Abel. Mayor Mary Burress and council member Karen Hohimer also voted for the not-to-exceed amount.
Council member Dave Nutter cast the no vote. Council members Rick Hilst, Chris Onken and Lloyd Orrick did not attend the 50-minute meeting.
The ball is now in CVS and Realty Income's court as the mid-February deadline for the 8th-10th street work getting onto the Illinois Department of Transportation's March 7 bid letting approaches.
CVS and Realty Income were the subjects of ire from council members and audience member Matthew Johnson, a candidate for council in the April 1 election, before the council's vote, accusing them of holding up a much-needed road project.
"We're being held hostage," Nutter said. "This is wrong. What are they going to ask for next, a new drive-thru or front door?"
Hohimer called Realty Income's counter-offer for the strip of land "an abomination. horrible. Shame on them."
Johnson said during audience comments that a new sign doesn't improve public access, but a wider sidewalk will.
"I don't like to waste money. I'm sure nobody in his room does," Johnson said. "CVS is being greedy here, and that bothers me. This is a Fortune 6 company that had $94.5 billion in revenue in the third quarter of 2024. I think they can afford their own sign."
City Engineer Josie Esker, who has been handling negotiations with CVS and Realty Income for the city, said the companies feel they should be compensated because they fear CVS will lose business with the loss of two parking spots after the 8th-10th street work is done.
"And more parking spots will be lost temporarily during construction," she said.
