The IHSA boys basketball tournaments are going to be playing in Peoria through 2015.
To be honest, I would have liked to have seen the IHSA open it up for bid and give Champaign a chance to regain the tournament. Peoria "rolls out the red carpet" for the tourney, but I still think it is a crap town to visit. During my reporting days, I never particularly enjoyed the trips down there. Champaign is far preferable, in my humble opinion.
That said, Champaign lost the state tournament for a good reason. The gouging on hotel rates and gas prices had gotten out of control. According to the linked report, 30 local hoteliers in Peoria agreed to lock in reasonable rates and do away with required multiple-night stays. Would Champaign have done the same? I doubt it, and that's no small point in this discussion.