1004 Park Avenue, GALENA, IL 61036

Description

A rare opportunity to own one of Galena’s most distinguished historic residences — an extraordinary circa-1846 solid brick luxury estate blending timeless architectural character with sophisticated modern living and flexible hospitality potential. Rich in History to include the home of the Galena Mayor from 1875. Located within walking distance of downtown Galena and prominently facing the Galena River, this remarkable property offers eight bedrooms and eight-and-one-half baths across a thoughtfully updated and highly adaptable floorplan currently configured as a luxury residence with guest accommodations and income-producing suites. Rich in historic detail, the home showcases original woodwork, soaring 12-foot ceilings, and exquisite hand-carved marble fireplace surrounds that reflect the craftsmanship and elegance of a bygone era. Extensive renovations have carefully modernized the property while preserving its architectural integrity, including the addition of central air conditioning, new tongue and groove hickory and refinished wood flooring, multiple updated kitchens with high-end custom granite countertops and cabinets, induction ranges, remodeled baths and an upgraded 400 amp electrical service with a 50A level II EV charging station. The property is available furnished for turn key occupancy. The main residence features an expansive eleven-room layout including twin first floor parlors with original interior Greek columns, an eleven theatre seat media room, formal dining room with an adjacent lounge, five ensuite bedrooms, each with private bath access, with three suites also offering oversized soaking tubs. Additional guest accommodations include a beautifully appointed three-room suite with full kitchen and bath, plus two separate fireplace studio suites with private baths and kitchen facilities — creating exceptional flexibility for multigenerational living, private guest quarters, luxury short-term rentals, boutique inn use, or executive retreat accommodations. Designed for both beauty and efficiency, the property also includes a solar energy system with battery backup located on the detached 2½-car garage, with utility net-metering providing one-to-one electrical credit benefits. Currently operated as a successful hospitality property with substantial upside potential, the estate generates approximately $70,000 annually in Airbnb/VRBO income with minimal advertising and significant opportunity for expanded luxury marketing and event-oriented use. The owner has a transferable current City of Galena Small Inn License for the property. Whether envisioned as a prestigious private residence, luxury family compound, boutique inn, executive retreat, or hybrid live/work hospitality property, this exceptional Galena estate offers a combination of historic significance, modern comfort, and lifestyle versatility rarely available in today’s market.

Property Information

Property Features

Schools

Elementary:

Galena

Middle:

Galena

High:

Galena

District:

Galena

Financial Details

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