After City Council approval on Tuesday, Galesburg Downtown Depot has a 1-year lease agreement with the city that will only cost the non-profit $1.
The lease also has the city paying all the utilities but the city can sell the property, and if that happens the Downtown Depot would be given 30 days’ notice.
The council also approved buying a property on the corner of N. Academy and Water St. from the Knox County trustee with the intention of demolishing it.
The trustee has agreed to convey the property at 215 N. Academy to the City for $813.
The property was sold in 2012 for $25,000 according to online property records, but it’s also been about that long since the water’s been on.
In 2020, there was an interested buyer for the multi-unit building, but after walking through they determined it was not economically feasible.
Council also approved two indemnity agreements with owners of property that surround 140-144 E. Main st.
The downtown building was recently purchased by the city and is slated for demo.
However, because the charred building shares walls with 156 East to the East and Merle Norman to the West, the agreements were necessary.
