NORMAL - The old Damon's restaurant has been torn down, opening up prime real estate along Veterans Parkway in Normal.

The two-acre land, at the corner of Veterans and Fort Jesse Road, sold for $1.5 million when Damon's closed a year ago, according to the Normal assessor's office.

Tartan Realty Group, which is managing the property for owner Location Finders International, values the land at $20 to $25 per square foot, said Tartan President Doug Reichl. For two acres, that would cost around $1.74 million to $2.18 million.

While nothing firm is in place, Reichl expects to attract a restaurant at the site.

"That makes the most sense. That's what was there before. That's what the market supports," he said.

Damon's closed unexpectedly in January 2006 after a 10-year run.

Location Finders originally planned to bring a bank to that site and perhaps add a retail center there as well. Those plans fell through.

After Damon's closed, restaurant equipment was removed, making the building a harder sell, Reichl said, so Tartan decided to tear it down.

Tartan, based in Chicago, recently completed two developments in the Twin Cities: Washington Commons with Starbucks, Potbelly Sandwich Works and other retailers at the corner of Washington Street and Veterans Parkway in Bloomington; and the Noodles & Co. and Potbelly development at Main and Osage streets in Normal.

The company also has other projects in the fire. It's developing the old Bombay Bicycle Club, 305 N. Veterans Parkway, Bloomington, into a small strip mall with another Noodles & Co., a Chipotle Mexican Grill, a Men's Wearhouse, a Scottrade broker's office and a Cingular Wireless store. Reichl also is working to attract another restaurant.

That development should open fully leased in June, he said.

In addition, Tartan is planning a mixed-use retail and residential development at 701 S. Main St., Normal, but the project has been temporarily put on hold because of cost.

"It would be retail with four stories of housing above it," Reichl said. "We would like that to come on by the '08 school year."

To meet that deadline, construction would need to start by the end of summer, he said.