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State land auctioned to increase homes at Aloravita in north Peoria

North parcel sells for $ $46.77M

Shea Proctor Valley LLC, a California-based subsidiary of Shea Homes, bought 415 acres of land for $46.77 million at the northeast corner of 75th Avenue and Jomax Road in north Peoria at a state land auction Wednesday.

The company plans to add homes to this land as part of its Aloravita North development in north Peoria.

The purchase price of $46.77 million was the minimum bid and full appraised value.

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