No official launch yet, but public domain information is that the Morton Cycling Classic (formerly the Peoria Cycling Classic, formerly Proctor Cycling Classic) will take place in Morton, IL (about 15 mins from Peoria) on Saturday August 20th.
Some articles from the Peoria Journal Star (worth reading for the comments alone)
Morton Board Clears Way for Cycling Classic
Peoria Journal Star, Feb 7th, 2011
Morton Fine Tunes Bike Race Proposal
Peoria Journal Star, Jan 30th, 2011
Here's a map of the course. Race direction (clockwise) and start/finish (at Dairy Queen) are subject to change.