FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * MCGOWAN EUGENE E   2. Issuer Name and Ticker or Trading Symbol GRANITE CITY FOOD & BREWERY LTD [GCFB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 308 E. PENNBROOK CIRCLE 3. Date of Earliest Transaction (Month/Day/Year) 11/04/2004 (Street) SIOUX FALLS, SD 57108 4. If Amendment, Date Original Filed(Month/Day/Year) 11/17/2004 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/04/2004   C V 1,297,468 A $ 0 (1) 1,734,138 I See footnoe (2) Common Stock 11/09/2004   X   424,005 A $ 1.58 (3) 2,158,143 I See footnote (4) Common Stock               4,520 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Series A Convertible Preferred Stock

$ 1.58

11/04/2004

C(1)

V

20,500

10/01/2002

(5)

Common Stock

1,297,468

$ 100

0

I

See footnote (6)

Common Stock Warrants

$ 1.58

11/09/2004

X(3)

648,733

10/01/2002

09/30/2007

Common Stock

648,733

$ 0 (7)

0

I

See footnote (8)

Common Stock Warrants

$ 5

11/04/2004

11/04/2009

Common Stock

170,215

170,215

I

See footnote (9)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MCGOWAN EUGENE E 308 E. PENNBROOK CIRCLE SIOUX FALLS, SD 57108	X

Signatures

Eugene E. McGowan		12/09/2004
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Series A Convertible Preferred Stock were automatically converted to 1,297,468 common shares of Issuer.
(2)	Consists of (i) 1,302,771 shares held by Brew Buddies, L.L.C.; (ii) 5,829 shares held by Brew Master, L.L.C.; and (iii) 425,538 shares held by Granite Partners, L.L.C.
(3)	The warrants were exercised using a cashless exercise method, whereby Brew Buddies, L.L.C. received 424,005 shares of common stock.
(4)	Consists of 1,726,776 shares held by Brew Buddies, L.L.C.; (ii) 5,829 shares held by Brew Master, L.L.C.; and (iii) 425,538 shares held by Granite Partners, L.L.C.
(5)	The Series A Convertible Preferred Stock does not have an expiration date.
(6)	Series A Convertible Preferred Stock owned by Brew Buddies, L.L.C.
(7)	The warrants were issued for no additional consideration in connection with Brew Buddies, L.L.C. prior purchase of the Series A Convertible Preferred Stock.
(8)	Owned by Brew Buddies, L.L.C.
(9)	Held by Granite Partners, L.L.C.
Remarks: Mr. McGowan has business relationships with Brew Buddies, L.L.C., Brew Master, LLC and Granite Parters, L.L.C., such that he may be deemed to be the indirect beneficial owner of the securities held by such entities.  This report includes securities held by such entities.

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