Instead of using a checklist I think what you're looking for is a coding standard, something that tells your team what you expect of their code and provide guidelines.
The coding standard could be something as simple as a pattern for variable naming and a convention for how the code should be laid out (for example parenthesis on a line of its own), or it could be something far more in-depth, it entirely depends on your requirements and your teams requirements. If the whole team sticks to this standard it will make the code a lot easier for anyone to pick up, and it will mean there's a guideline to review the code against.
Since the code review is something that the team is going to be doing it's worth getting the team involved in creating the coding standard. If the team is involved in they'll feel a lot happier about sticking to the standard that if they are handed down "rules from above" because it's something that the team has come up with.
Once you have this standard it means that the team can review the code against the standard and highlight any issues in the code.