Lighting is turned off when baking GI

Hello! I have a problem with baking lights in Unity. I have a very simple scene (only 4 objects) and the scene looks great with realtime lights, all the shadows work as expected. However, as soon as I turn on baked GI and turn my only(!) light in the scene to baked, all my objects go black, it's exactly like the light is not even affecting them. All of them are marked static and when imported, I checked the Generate Lightmap UVs for the models. If I turn the light to mixed, it works fine. What could be the issue? Its driving me crazy and there is literally 0 info on any similar problem..

Please help!