116-118 S Water Street, Wilmington, IL 60481

Building Details

Year built

1914

Floors in Building

1

Number of units

10

Flooring type

Concrete

Building materials

Block, Wood

Listing agent Daniel Condon License #475178004 Show Phone

Listing office RE/MAX Ultimate Professionals k***@kathydamesteam.com 850 Brook Forest Ave., Shorewood, IL Show Phone

Listing date Apr 28, 2026

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MLS# 12631492

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Overview

Located in downtown Wilmington, this mixed-use commercial property at 116-118 S. Water Street offers a combination of retail, bar, and office suites. The property has been renovated with designer-level finishes, essentially resulting in new construction. The turnkey leased spaces are suited for investors seeking income-producing real estate or owner-users looking for a dynamic business environment. All bathrooms are ADA compliant. Zoned B-2A, the property allows for a range of potential uses. Positioned along the water in Wilmington's downtown corridor, the property offers a waterfront setting that enhances its appeal for retail, hospitality, office, or entertainment uses, while benefiting from visibility, accessibility, and presence. The lot size is 0.3 acres.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Wilmington

County

Will

State

Illinois

Longitude

-88.1474098

Latitude

41.3083772

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FAQs

What type of property is this?

Mixed-use property - Turnkey, leased mixed-use property in downtown Wilmington.

Where is this mixed-use property located?

The property is located at 116-118 S Water Street Wilmington, IL.

What is the asking price?

The asking price for this property is $1,165,000.

What are key features of this property?

This property features: Prime downtown Wilmington location on the water, offering excellent visibility and accessibility.; Turnkey, leased mixed‑use property generating income with retail, bar, and office suites.; Professionally rehabbed with designer‑level finishes, essentially new construction.