Galena, IL 61036

5.0 bath • 11,280 sqft

Incredible opportunity to invest in one of the top tourist destinations across the state of Illinois! Located on N Main St in Galena IL this building sits among some of the area's best restaurants and shopping experiences with one of them being home of "The Galena Brewery" who occupies the main floor. The 2nd floor offers endless opportunities that make this building the perfect long term investment! Upstairs currently holds one AirBnB license and will soon be moved from the existing 1BD apartment to a brand new remodeled 3 bedroom unit. The owners are close to a 2nd AirBnB license and will then be able to offer a 3 bedroom 1 bath AirBnB as well as a 1 bedroom 1 bath AirBnB. There is a 3rd unit that is leased long term that offers 1 bedroom & 1 bath. This one is certainly worth checking out!

Income

• Rent: 86400
• Other: 91250
• Net: 121898

Expenses

• Insurance: 5000
• Taxes: 15904
• Other: 34428
• Total: 55332

Other Info

• Year Built: 1940
• Contract Date: 2022-10-13
• Listing Date: 7/13/22
• Price Date: 12/2/22

Features

• Basement: None
• Style Primary: Two Story
• Cooling: Central Air
• Cooling: Window Unit
• Electrical Service: 3 Phase
• Electric Provider: Alliant
• Exterior Finish: Frame/Masonry
• Exterior Finish: Stucco
• Extras: Sprinkler
• Extras: Load Dock
• Flooring: Concrete
• Flooring: Other
• Foundation: Slab
• Fuel Type: Gas
• Gas: Natural Gas
• Ground Line Doors: Two
• Heat Type: Forced Air
• Parking Surface: Other
• Possession: Agreed
• Raised Docks: None
• Roof: Flat
• Sale Or Rent: For Sale
• Sewer: Public
• Terms: Cash
• Type: Commercial
• Uses: Retail
• Uses: Warehouse
• Uses: Office
• Uses: Lodging
• Uses: Bed and Breakfast
• Uses: Restaurant
• Uses: Tavern/Bar
• Uses: Multifamily
• Water: Public