$850,000
$350K PRICE DROP

412 Spring St Galena, IL 61036

Estimated payment $5,771/month

Total Views 2,020
-- Bed
-- Bath
10,342 Sq Ft
$82 Price per Sq Ft

Highlights

  • Wood Flooring
  • Galena Primary School Rated A-
  • Forced Air Heating and Cooling System

About This Home

Price REDUCED to $850,000! TURN KEY Galena INN "Abe's Spring Street guest House! This B&B is licensed for an Inn, included in the sale price, the Website & booking system, furnishing & some of the work of art by the seller! GREAT BUSINESS OPPORTUNITY RIGHT ON HIGHWAY 20! Property is zoned DOWNTOWN COMMERCIAL & Residential with unlimited possibilities! The Annex 412 Spring St. & The Abe's Guest House 414 Spring St are being sold as ONE PROPERTY, which makes up the INN". Boasting 6 deluxe suites, & a private Sauna Room! The Annex was designed as an artist complex studio, having small commercial kitchen, in floor heat, upper office 396 sq. ft, ample storage space & 3 guest units, retail & or manufacturing space totaling appx 7530 sq. ft. The Annex built in 2000 on the foundation of "THE CITY BREWERY" of the 1800's uncovering 2 rock vaulted rooms, once used for the first cooling of the beer kegs! Both of these very unique and historical properties are truly Galena's gems! 414 Spring St. Abe's Guest House total sq. ft 2712, which has 3 guest units, was the original Ice House where the beer barrels were cooled. Total Sq Ft total of 10,342(county tax sheets ) for both The Annex & Abe's Guest House. The seller, a renowned artist, potter & sculptor, his work can be seen in many original details in these two building! All six units could be utilized for long term rentals. Each units are separately metered for electricity. WiFi is available in all units The top unit of "Abe's Guest House" has recently been remodeled and is actually a small two bedroom Apartment. Both buildings could be converted into private residential homes.Walking distance to downtown Galena with it's many shops and restaurants. This is a piece of Galena's history & unlimited possibilities for your own business! Call Ginger at 815-238-2939 for your private tour and see the hidden gems!

Listing Agent

Ginger Eisbach

CHOICE REALTY License #475102866 Listed on: 01/15/2021

Property Details

Property Type

  • Other

Year Built

  • Built in 2000

Lot Details

  • 0.45 Acre Lot
  • Property is zoned Downtown Commercial-Resid

Parking

  • Parking Available

Home Design

  • Mixed Use
  • Brick Exterior Construction
  • Slab Foundation
  • Fire Rated Drywall
  • Shingle Roof
  • Rubber Roof
  • Stone Exterior Construction
  • Cement Board or Planked

Interior Spaces

  • 10,342 Sq Ft Home
  • Basement Cellar

Flooring

  • Wood
  • Carpet
  • Concrete
  • Tile

Utilities

  • Forced Air Heating and Cooling System
  • Electric Water Heater

Property Details

Property Type

Other

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Electric: Circuit Breaker
  • Class: COMMERCIAL/INDUSTRIAL
  • Exemptions: Additional Exemptions Apply
  • Front: 146
  • Rear: 146
  • Side 1: 200
  • Side 2: 200
  • Type: Mixed Use
  • Hold Earnest Money Y N: Yes
  • Additional Owner Info: Sandra Fach
  • Designated Managing Broker Y N: No
  • L O1 Brokerage Number: 477.014338
  • Additional Assessor Parcel Numbers: 2210068710
  • Key Y N: No
  • Listing Property Status: Foreclosure
  • Merc Manuf Sq Ft: 4024 annex
  • Number Doors: 9
  • Assessor Parcel Number: 2210068700
  • Sprinkler Yn: No
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Walls: Drywall
  • Insulation: Yes
  • Office Sq Ft: 396
  • Basement: Slab, Cellar
  • Price Per Sq Ft: 82.19
  • Total Finished Sq Ft: 10342
  • Flooring: Wood, Carpet, Tile, Concrete

Exterior Features

  • Exterior: Brick, Stone, Cement Board
  • Roof: Shingle, Rubber

Garage/Parking

  • Parking: Yes

Utilities

  • Sewer: City
  • Water: City
  • Water Heater: Electric
  • Air Conditioner: Central
  • Heat: Gas Forced Air

Schools

  • School District: Galena

Lot Info

  • Number Of Acres: 0.45

Building Info

  • Year Built: 2000

Tax Info

  • Year: 2024
  • Taxes: 2094102

Multi Family

  • Lease: No

MLS Schools

  • School District: Galena

Map

Range of Values:

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Average Value
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List Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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 $13,671 $177,288 $11,999 $165,289
2023 $11,734 $148,997 $4,468 $144,529
2022 $11,734 $148,997 $4,468 $144,529
2021 $11,777 $137,261 $4,116 $133,145
2020 $12,123 $137,261 $4,116 $133,145
2019 $11,912 $135,745 $2,600 $133,145
2018 $11,770 $137,371 $4,226 $133,145
2017 $11,565 $137,371 $4,226 $133,145
2016 $11,315 $137,371 $4,226 $133,145
2015 $11,377 $137,358 $4,226 $133,132
2014 $10,843 $137,358 $4,226 $133,132
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/16/2025 07/16/25 For Sale $850,000 0.0% $82 / Sq Ft
07/16/2025 07/16/25 Price Changed $850,000 -5.0% $82 / Sq Ft
07/16/2025 07/16/25 Off Market $895,000 -- --
03/17/2025 03/17/25 Price Changed $895,000 -5.8% $87 / Sq Ft
07/09/2024 07/09/24 Price Changed $950,000 -29.6% $92 / Sq Ft
12/20/2022 12/20/22 Price Changed $1,350,000 +12.5% $131 / Sq Ft
12/17/2021 12/17/21 Price Changed $1,200,000 -99.0% $116 / Sq Ft
12/17/2021 12/17/21 Price Changed $120,000,000 +9900.0% $11,603 / Sq Ft
01/15/2021 01/15/21 For Sale $1,200,000 -- $116 / Sq Ft
Source: NorthWest Illinois Alliance of REALTORS®

Source: NorthWest Illinois Alliance of REALTORS®

MLS Number: 201773

NorthWest Illinois Alliance of REALTORS®

APN: 22-100-687-00