The two-masted wooden schooner Andromeda was built at the Madison Dock, Ohio, by Erastus Lockwood in 1847. The ship was enrolled the following season at Cleveland, with tonnage listed as 207.15. It was built primarily for the lumber trade; traffic reports also show it carrying shingles, flour, fish, salt, and other miscellaneous cargo. In April of 1852, the Andromeda underwent maintenance for its trim under ownership of Aldrich, Smith & Co.

On April 1, 1853, the Andromeda was in tow behind the tug Kossuth up the Chicago River, laden with lumber from Two Rivers, Wisconsin, when the Andromeda drifted afoul. The fluke of the anchor caught on a spile, breaking off the ship's cathead, head railing, and one of the stanchions. The damage to the Wells Street Bridge was slight. Later that year, the Andromeda beached at Two Rivers while carrying lumber; it got off with some slight damage to its bulwarks and forward rigging. The resulting property loss was $980.

It wintered at Detroit, Michigan, over 1856 to 1857.
On the evening of July 24, 1858, while bound up from Oswego to Chicago with 800 barrels of salt, the Andromeda sprung a sudden leak. At approximately 8pm, the schooner sunk. It most likely foundered 40 miles northeast of Manitowoc, although one source places it 20 miles from Sheboygan, 15 miles offshore. Its sinking was possibly due to damage it received prior to the foundering. After the vessel was discovered to be leaking, the crew found the pumps nonfunctional, and it sank almost immediately. The crew took to the yawls and rowed all night, arriving at Manitowoc the next morning. Captain Flood, of the tug Arctic, took the crew to Sheboygan from Manitowoc.

The Andromeda belonged to Captain Morgan of Sheboygan. The total property loss was listed at $4,000, and the Andromeda was insured to half of its value. It was a great loss to Captain Morgan, as he had only purchased the vessel the preceding spring and had invested his season's earnings in salt.
The wreck site of the Andromeda likely lies some 25 miles east of Kewaunee, Wisconsin. It may have diveable remains, however they are likely deep. The condition and exact location of the wreck have not yet been identified by archaeological investigation.