The Galesburg city council on Monday approved a resolution to purchase a key property on East South Street, paving the way for future development on the southeast side of downtown near the Amtrak depot and future home of the National Railroad Hall of Fame.
The resolution authorizes the city to buy the property located at 345-363 E. South St. for $150,000. The site is adjacent to a city-owned parking lot at 280 S. Seminary St. and is part of a block that’s been on the city’s radar for redevelopment for more than 20 years.
“The city owns a good chunk of that block already with the exception of just a couple of parcels that remain,” said City Manager Eric Hanson.
Future use of the property has not been determined, but Hanson said multiple opportunities exist, given the amount of traffic at the Amtrak station and other developments underway. The city has approved a 99-year lease for the National Railroad Hall of Fame at Colton Park, just north of the Amtrak station, for construction of a visitors center.
Hanson said the city’s transit study also identified that area as a potential transfer station, and that straightening South Street at the underpass by the site remains a long-term goal.
“There are a number of things that could come about, but none of them could happen without us controlling the property,” Hanson said.
The seller of the property has requested a 45-day window to dismantle a steel-frame building at the site for reuse elsewhere. The city plans to being demolition of remaining structures at the site in late November.
Hanson said three other parcels will remain on the block once this sale is completed.
Funding for the purchase of the South Street property will come from Tax Increment Financing dollars.
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