Property summary
This remarkable 11,320-square-foot commercial property, located at 161 S Cherry Street in Galesburg, Illinois, presents a rare investment opportunity. Originally serving as the city hall, this historic building boasts a rich architectural heritage, designed by renowned architect William E. Wolf. The building's striking exterior features a blend of stone and masonry, complemented by fluted stone columns with ionic capitals, Romanesque arched stone windows, copper fascia, corbels, and a dentil frieze. The property sits on a 0.37-acre lot in the heart of the downtown district, offering convenient access to the Knox County Court House and Knox College. The interior comprises 11,320 square feet of office space spread across the first and second floors, ideal for a variety of commercial uses. In addition to the office space, the building includes a substantial 5,660 square feet of basement storage, plus further storage on the third level. Ample parking is available both on and off-street, adding to the property's appeal. Zoned B-3 Central Business, this property offers significant potential for a discerning investor seeking a unique and historically significant commercial space in a thriving downtown location. The asking price for this exceptional property is $250,000.
Property profile
VerifiedCap rate & NOI
Current use
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Construction Company
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Law Firm
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Training Center
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Tour Operator
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Construction Company General Contractor
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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