1135 S Water Street, Wilmington, IL 60481
COMMERCIAL - Wilmington, IL
- Added:
- Sep 3, 2025
- Days on Market:
- 307
- Last Refresh:
- Jul 6 at 1:06 am
Property Features for 1135 S Water Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Zoning
- COMMR
- Standard status
- Active
- APN
- 0317364000620000
- Lot size
- 4.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 35198
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1998
- Floors in Building
- 1
Listing agent Lori Bonarek License #475124600 (815) 518-2300
Listing office Lori Bonarek Realty 640 S Broadway, Coal City, IL (815) 518-2300
Listing date Sep 3, 2025
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Immediate and consistent rental income with a 36‑month leaseback at $25,000/month.
- Large 14,224 sq ft commercial building suitable for various business operations.
- Additional 2,500 sq ft two‑bay car wash for supplemental income.
- Ample parking with approximately 180 vehicle spaces.
- Main building includes six private offices, waiting room, break room, service area, and a large shop with five overhead doors.
- Prime commercial location just south of Chicago.
Overview
The site is located at 1135 S Water Street in Wilmington, Illinois, just south of Chicago. The property is situated on just over 4 acres and offers a combined mix of office support space and service/production-style use within the enclosed shop areas.
For buyers seeking a versatile setup, the combination of offices, a service area, and multi-door shop space can support a range of business operations that benefit from dedicated customer and employee areas alongside operational space. The seller-required 36-month leaseback provides immediate, consistent rental income for the buyer, with terms stated as $25,000 per month.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $377.3k | $22.56 |
| − Vacancy | −$109.4k | −$6.54 |
| EGI | $267.9k | $16.02 |
| − OpEx | −$67.0k | −$4.00 |
| NOI | $200.9k | $12.01 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Wilmington
- County
- Will
- State
- Illinois
- Longitude
- -88.1381432
- Latitude
- 41.295559
