Property profile

161 Cherry St Galesburg, IL 61401

OFF-MARKET
Commercial real estate
Property ID
US28-3007864
Individually Owned 2-yr Hold ~ Est. High Equity
Saved · see the list in your Dashboard

Property summary

AI-generated overview

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

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
APN 99-10-478-004
UPID US28-3007864

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Construction Company
  • Law Firm
  • Training Center
  • Tour Operator
  • Construction Company General Contractor

Location

161 Cherry St Galesburg, IL 61401-5264
Galesburg metro Census 800 GALESBURG, IL MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$140k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$140k

Owner & transaction history

since 2024
Last sale
$140,000
6 recorded transactions
2024
$140,000
2021
Price N/A
2019
Price N/A
2013
$95,000
2011
Price N/A
2009
$55,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 161 Cherry St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message