Peotone is a village located in Will County, Illinois, with a current population of approximately 4,000 residents. Here are some potential pros and cons to consider when purchasing real estate in Peotone:

Pros:
- Located in the Chicago metropolitan area with easy access to Chicago via I-57 and I-80
- Peotone is considered to be a relatively safe community, with a low crime rate compared to other areas in Will county
- The housing market in Peotone is currently competitive, with median home values around the national average
- Peotone has a highly-rated public school system, making it an attractive choice for families

Cons:
- The village of Peotone does not have a lot of amenities, such as restaurants or retail shops, which may limit entertainment options for some residents
- There are limited public transportation options available in Peotone
- Property tax rates in Will County are relatively high compared to other areas in Illinois, which may result in higher homeownership costs for some residents
- Peotone is located in Tornado Alley, which may have an impact on home insurance and should be taken into consideration by potential residents.

Ultimately, as with any real estate purchase, it is important to do your own research and carefully consider your personal circumstances and priorities before making a decision.