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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(Print or Type Responses)

1. Name and Address of Reporting Person * WAGENHEIM STEVEN J   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 __X__ Officer (give title below) _____ Other (specify below) President and Founder (Last) (First) (Middle) 5402 PARKDALE DR., STE. 101 3. Date of Earliest Transaction (Month/Day/Year) 06/23/2011 (Street) MINNEAPOLIS, MN 55416 4. If Amendment, Date Original Filed(Month/Day/Year) 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               96,979 I See footnote (1) Common Stock               15,574 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
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		16,666		12/28/2011	04/13/2017	Common Stock	16,666	(3)	16,666	D
Stock Option (right to buy)	$ 37.2	06/23/2011		D			16,666	(4)	04/13/2017	Common Stock	16,666	(3)	0	D
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		16,666		12/28/2011	02/22/2016	Common Stock	16,666	(3)	16,666	D
Stock Option (right to buy)	$ 25.38	06/23/2011		D			16,666	12/31/2006	02/22/2016	Common Stock	16,666	(3)	0	D
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		25,000		12/28/2011	03/15/2015	Common Stock	25,000	(3)	25,000	D
Stock Option (right to buy)	$ 25.86	06/23/2011		D			25,000	(5)	03/15/2015	Common Stock	25,000	(3)	0	D
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		8,333		12/28/2011	10/24/2013	Common Stock	8,333	(3)	8,333	D
Stock Option (right to buy)	$ 21.72	06/23/2011		D			8,333	(6)	10/24/2013	Common Stock	8,333	(3)	0	D
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		5,000		12/28/2011	02/11/2013	Common Stock	5,000	(3)	5,000	D
Stock Option (right to buy)	$ 14.7	06/23/2011		D			5,000	(7)	02/11/2013	Common Stock	5,000	(3)	0	D
Stock Option (right to buy) (2)	$ 2	06/23/2011		A		4,166		12/28/2011	12/30/2011	Common Stock	4,166	(3)	4,166	D
Stock Option (right to buy)	$ 9.9	06/23/2011		D			4,166	12/31/2001	12/30/2011	Common Stock	4,166	(3)	0	D
Stock Option (right to buy)	$ 2							(8)	12/28/2020	Common Stock	69,958		69,958	D
Stock Option (right to buy)	$ 2.25							(9)	05/26/2020	Common Stock	75,000		75,000	D
Stock Option (right to buy)	$ 1.0752							(10)	04/02/2019	Common Stock	12,500		12,500	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
WAGENHEIM STEVEN J 5402 PARKDALE DR., STE. 101 MINNEAPOLIS, MN 55416	X		President and Founder

Signatures

/s/ Monica A. Underwood, attorney-in-fact		06/24/2011
**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)	Steven J. Wagenheim is a member of Brewing Ventures LLC and owns approximately 71.4% of its membership interests. As a result, Mr. Wagenheim may be deemed to be the indirect beneficial owner of the securities held by such entity.
(2)	This option was granted under the Company's Amended and Restated Equity Incentive Plan, which meets the requirements of Rule 16b-3.
(3)	On June 23, 2011, the Company cancelled, pursuant to the Company's option exchange program, options granted to the reporting person on December 31, 2001, February 11, 2003, October 24, 2003, March 15, 2005, February 22, 2006 and April 13, 2007. The reporting person received unvested replacement options as reported herein, each having an exercise price of $2.00 per share.
(4)	The cancelled option vested in three equal annual installments commencing on April 13, 2008.
(5)	The cancelled option vested with respect to 12,500 shares on March 15, 2005, 8,333 shares on March 15, 2007, and 4,166 shares on March 15, 2008.
(6)	The cancelled option vested in four equal annual installments commencing on October 24, 2004.
(7)	The cancelled option vested in four equal annual installments commencing on February 11, 2003.
(8)	This option vests in three equal annual installments commencing on December 28, 2011.
(9)	This option vests in four equal installments on August 25, 2010, May 26, 2011, May 26, 2012 and May 26, 2013.
(10)	This option vests in three equal annual installments commencing on April 2, 2010.

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