Years ago the area where the cache is would have been seeing many trains come in and out of the Peru C&O Train yard. The Riverwalk starts and ends here, following where many trains once passed. At the far end of the walkway there is a very grown up area, that is where the biggest part of the train yard was, and hasn't been used for many years. Take your time and enjoy the area. You could take the kids to nearby Miamisfort playground, or visit the rest of downtown Peru.
The City of Peru has worked hard to develop this land into something useful. The businesses that line canal street, were not here just 20 years ago.
Train enthusiasts will find an old crossbuck and whistle post nearby. The history of transportation here in Peru is really something. This area here was first a canal, then the canal was filled an turned into a railroad ROW for C&O. Later known as Chessie System and CSX. The depot was used by the streetcar and Interurban systems that were popular in Indiana in the 1930's. The depot was also used by Amtrak in it's later days.