The National Weather Service said that it will conduct damage assessment surveys in Champaign and Vermilion counties Saturday morning.
The Champaign County Sheriff's Office confirmed a tornado destroyed two residences and a corn crib. No injuries have been reported.
ABC News station WLS-TV in Chicago reported there was some damage in the village of Homer in Champaign County.
Strong winds also caused damages elsewhere in the Midwest. According to ABC News meteorologist Dan Manzo, winds up to 75 mph were reported in parts of Oklahoma, knocking down power lines near I-44. Hail measuring over 2.5 inches in diameter was reported near Dodge City, Kansas.
But Manzo has positive news for residents of the region: "The threat for severe weather has diminished this morning with no immediate concerns for additional tornadoes," he said.
The severe threat is moving eastward, however, and will impact a vast area stretching western New York to Kentucky's southern border, according to Manzo. The main dangers will be damaging winds and hail. Forecasters expect storms to reignite Saturday afternoon and evening, with potential pockets of flash flooding.
ABC News' Benjamin Stein and Alexandra Faul contributed to this report.