NOT LISTED FOR SALE

347 Spring St Galena, IL 61036

Estimated Value: $108,000 - $567,000

2 Beds
1 Bath
810 Sq Ft
$285/Sq Ft Est. Value

Last Sold March 01, 2024

Last sale price $88,000 $109 Per Sq Ft

Est. 163% increase in value since last sale

Current estimated payment $1,381/month

9 Days on Market

Highlights

  • Covered Patio or Porch
  • Brick or Stone Mason
  • Wood Siding
  • Galena Primary School Rated A-
  • Forced Air Heating System
  • Historic Home

About This Home

As of March 2024

If you are ready to start or expand your business in Galena, and not having any luck finding a commercial property, this could be the next best option: to renovate a historic property into exactly what you need. Access to all city utilities and zoned Downtown Commercial, the historic "Morrison House" can be restored into a residential home, restaurant, office, retail business and more. Property is in need of major renovation and is being sold AS-IS. Wide pedestrian walkway out front for downtown walking traffic, as well as a curb cut on the newly improved Hwy 20 to create on-site parking. Property has only been used for storage for the last 15 years, water and heat are off, but there is electricity. Seller is a licensed real estate agent. Property is also listed in the Commercial Class with MLS# 202400251

Last Agent to Sell the Property

Ginger Zambrano

DC Rise Real Estate License #475.192385 Listed on: 01/28/2024

Co-Listed By

Leah Holt

DC Rise Real Estate License #475209718

Last Buyer's Agent

Lisa Radke

CHOICE REALTY OF GALENA License #471017742

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,465

Year Built

  • Built in 1830

Lot Details

  • 7,405 Sq Ft Lot
  • Property fronts a highway
  • Historic Home

Home Design

  • Brick or Stone Mason
  • Shingle Roof
  • Wood Siding
  • Siding

Interior Spaces

  • 810 Sq Ft Home
  • Crawl Space
  • Storage In Attic

Kitchen

  • Electric Range
  • Stove

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Schools

  • Galena Elementary And Middle School
  • Galena High School

Additional Features

  • Covered Patio or Porch
  • Forced Air Heating System

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,465

Year Built

Built in 1830

Lot Details

0

Listing Details

  • Interior Amenities: Attic Storage
  • Road Frontage: City/Town, US Highway
  • Type: City/Town
  • Electric: Circuit Breaker, Fuses
  • Appliances That Stay or Are Included: Refrigerator, Stove/Cooktop
  • Class: HOUSE
  • Front: 53.88
  • General Features: Main Floor Primary, Porch Covered
  • Legal Description: ORIGINAL LOTS BLOCK 9 PT LOTS 17 & 19 & 22 & 23
  • Lot Acreage: 0.17
  • Lvt Date: 01/28/2024
  • Number of Main Level Full Bathrooms: 1
  • Rear: 34.71
  • Side 1: 180.54
  • Side 2: 204.39
  • Stove Range Fuel: Electric
  • Style: Historic
  • Type: House
  • Agent Only_ L A1 User Code: F_2980
  • Egress: No
  • Elementary School: Galena
  • Estimated Total Finished Sq Ft: 810
  • Garage Type Driveway: None
  • Hold Earnest Money Y N: Yes
  • Pertinent Facts: If you are ready to start or expand your business in Galena, and not having any luck finding a commercial property, this could be the next best option: to renovate a historic property into exactly what you need. Access to all city utilities and zoned Downtown Commercial, the historic "Morrison House" can be restored into a residential home, restaurant, office, retail business and more. Property is in need of major renovation and is being sold AS-IS. Wide pedestrian walkway out front for downtown walking traffic, as well as a curb cut on the newly improved Hwy 20 to create on-site parking. Property has only been used for storage for the last 15 years, water and heat are off, but there is electricity. Seller is a licensed real estate agent. Property is also listed in the Commercial Class with MLS# 202400251
  • Rental License: No
  • Designated Managing Broker Y N: No
  • Estimated Above Grade Sq Ft: 810
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Bedrooms: 2
  • Basement Type: Crawl Space
  • Master Bedroom: Dimensions: 17x13, On Level: Main
  • Bedroom 2: Dimensions: 13x10, On Level: Main
  • Full Bathrooms: 1
  • Total Bathrooms: 1

Exterior Features

  • Exterior: Brick/Stone, Siding, Wood
  • Roof: Shingle

Utilities

  • Heating: Forced Air
  • Sewer: City/Community
  • Water: City/Community

Building Info

  • Year Built: 1830

Tax Info

  • Year: 2022
  • Taxes: 1465

MLS Schools

  • HighSchool: Galena
  • School District: Galena
  • Middle School: Galena

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 28, 2024
Closed on
Mar 1, 2024
Sold by
Ginger Z Realty Llc
Bought by
Mulvey John E
Seller's Agent
Ginger Zambrano
DC Rise Real Estate
Buyer's Agent
Lisa Radke
CHOICE REALTY OF GALENA
List Price
$88,000
Sold Price
$88,000
Views
61
Current Estimated Value
$231,034

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$143,034
Avg. Annual Appreciation
65.32%
Original Mortgage
$74,800
Outstanding Balance
$58,336
Interest Rate
6.18%
Mortgage Type
Construction
Estimated Equity
$172,698

Purchase Details

Closed on
Jun 26, 2023
Sold by
Nybo William L
Bought by
Ginger Z Realty Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$368,000
Interest Rate
6.71%
Mortgage Type
Construction
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mulvey John E $88,000 Wilkinson Title Co
Ginger Z Realty Llc $460,000 Attorney Only
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mulvey John E $74,800
Previous Owner Ginger Z Realty Llc $368,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/01/2024 03/01/24 Sold $88,000 0.0% $109 / Sq Ft
02/06/2024 02/06/24 Pending -- -- --
01/28/2024 01/28/24 For Sale $88,000 -- $109 / Sq Ft
Source: NorthWest Illinois Alliance of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $2,157 $27,970 $2,147 $25,823
2023 $1,609 $20,435 $2,544 $17,891
2022 $1,609 $17,562 $2,465 $15,097
2021 $1,442 $16,808 $2,900 $13,908
2020 $1,378 $15,604 $2,692 $12,912
2019 $1,385 $15,784 $2,692 $13,092
2018 $1,392 $16,241 $2,770 $13,471
2017 $1,333 $15,836 $2,701 $13,135
2016 $1,304 $15,836 $2,701 $13,135
2015 $759 $9,167 $2,701 $6,466
2014 $724 $9,167 $2,701 $6,466
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2024

    Ginger Zambrano

    DC Rise Real Estate

    Section Image
  • Leah Holt

    Seller Co-Listing Agent in 2024

    Leah Holt

    DC Rise Real Estate

    (815) 701-3326

    1 in this area

    6 Total Sales

    Leah Holt
    Section Image
  • Lisa Radke

    Buyer's Agent in 2024

    Lisa Radke

    CHOICE REALTY OF GALENA

    (815) 494-8965

    13 in this area

    50 Total Sales

    Lisa Radke
    Section Image
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Map

Source: NorthWest Illinois Alliance of REALTORS®

MLS Number: 202400296

NorthWest Illinois Alliance of REALTORS®

APN: 22-100-636-00

Illinois Jo Daviess County Galena 61036

347 Spring St, Galena, IL

Not Listed for Sale

Detached

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