Contact us: 563.441.1776
Description
Fully occupied retail investment opportunity located at 503 Knox Square Dr in Galesburg, IL, Seminary Square Commercial development. This stabilized strip center offers strong in-place income with a projected 2026 NOI of $354,020.32. Tenant mix includes World Finance, VIP Nails, Armed Forces Career Center, OneMain Financial, Verizon, Great Clips, State Farm, ImpactLife, and Sun Loan, providing diversified income across financial services, personal services, national/regional users, and service-based retail. The property is strategically positioned in a dominant retail corridor near Walmart Supercenter, Aldi, Menards, and immediate access to I-74 / US-34 / Kansas City-Chicago Expressway. 2025 tax rate is not available as of the listing date. Estimated 2026 taxes: $91,416.27.
Property Highlights
Property Type: Commercial - Retail
Year Built: 2017
Lot Size: 1.66 acres
General Information
County: Knox
Listed By:
NAI Ruhl Commercial Company
563-355-4000
MRED MLS
MLS ID: 12633175
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503 Knox Square Drive, Galesburg, IL 61401.
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| Loan Type | FHA 30 Year Fixed | 30 yr Jumbo |
| Purchase Price | $5,900,000 | $5,900,000 |
| Down Payment | $206,500 | $1,180,000 |
| Monthly Mortgage Amount | $36,142 | $29,447 |
| Taxes | $8211 | $8211 |
| Insurance | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 |
| Monthly Mortage Insurance | $3,540 | $0 |
| Monthly Estimated Total | $49,614 | $39,379 |
About this area
About Galesburg
Galesburg, IL—home of the Railroad Days Festival and known for its rich American history—is a leisurely town with a population of about 29,000 (2024). The town integrates the celebration of its history into its future with its family-friendly festivals and historical gatherings. Events like the annual Railroad Days show reverence for the community’s past and a dedication to its continued vibrance. Many of the buildings in Galesburg are both on the historic registry and are currently in use. Galesburg has a thriving downtown area with unique restaurants and plenty of historic places to visit. The town also has cultivated a vibrant arts scene resulting in a bustling downtown.
If you are ready to start your home buying or selling journey, browse the latest real estate listings in Galesburg, IL. You can also contact us—we are here to help!
Nearest Ruhl & Ruhl Office: Burlington, IA
403 South Gear Avenue
Suite 105
West Burlington, IA 52655
(563) 441-1776
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