25-year-old Amanda Payne of Marquette Heights is charged with murder and is being held on $1.5 million bond.
17-year-old Devon Moore of Peoria is also charged with murder and is being held on $1 million bond.
Police arrested Payne and Moore on Friday afternoon.
They're accused of murdering James Cohee. The 68-year-old was found shot to death in his bedroom last weekend.
Cohee was a retired Illini Bluffs High School teacher.
Police also arrested a third suspect who's a juvenile. That person is in custody facing murder charges.