304 S Main, Galena, IL 61036

Property Description

Incredible mixed-use opportunity in the heart of historic Downtown Galena! Prominently positioned at 304 S. Main Street in Galena’s bustling high-traffic tourism district, this distinctive four-story brick building combines prime Main Street visibility, multiple income-producing uses, historic character, and the uncommon convenience of four dedicated off-street parking spaces. Offering approximately 4,600 square feet across four levels (approximately 1,151 sq. ft. per floor), the property extends from Main Street through to Commerce Street, providing frontage and access from both sides of the building. The main level is currently configured as retail space spanning the depth of the building with entrances from both Main and Commerce Streets, excellent pedestrian exposure, abundant display potential, and a retail lease in place through April 2027. Above, the second and third floors comprise an expansive approximately 2,300 sq. ft. licensed short-term rental with maximum occupancy of 10 guests, showcasing the building’s authentic Galena character through exposed brick walls, open wood-beamed ceilings, warm woodwork and flooring, and generously proportioned living spaces. The residential layout offers multiple bedrooms, spacious gathering areas, kitchen, baths, and rear access to the multi-level exterior deck and stair system overlooking Commerce Street, the historic Galena Post Office building and beyond, and the downtown surroundings. The fourth floor presents even more potential and is approved for use as a long-term rental apartment, offering an open, semi-finished interior with exposed brick, the beginnings of a kitchen, powder room with space to add a shower, original wood flooring and substantial area ready for the next owner to complete to suit. Maximum allowable signage further enhances the property’s commercial presence. Whether envisioned as an income-producing mixed-use investment, owner-operated business with lodging above, or a combination of retail, hospitality and residential uses, 304 S. Main offers a compelling blend of location, versatility, character and opportunity along one of Galena’s most highly traveled commercial corridors.