Downtown Wilmington Mixed-Use
For Sale
Under Contract
$1,165,000
116-118 S Water Street, Wilmington, IL 60481
COMMERCIAL - Wilmington, IL
Lot Size0.30 Acres
Days on Market94
Property Features for 116-118 S Water Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
COMMR
Directions
just South of the intersection of E. Baltimore St
Subdivision
Wilmington
Standard status
Active Under Contract
APN
0317253140110000
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6322
Utilities
Cooling system
Central Air
Building Details
Year built
1914
Floors in Building
1
Number of units
10
Flooring type
Concrete
Building materials
Block, Wood
Listing Agency:
RE/MAX Ultimate Professionals · RE/MAX International
(815) 725-4545
Listed By:
Daniel Condon · License #475178004
(815) 725-4545
Added: Apr 28
Changed: May 28
Last Checked: Jul 30 at 12:06PM
MLS# 12631492
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 60481, IL
11,518
Population
5,553
Households
2.1
Avg Household Size
46
Median Age
17%
College-Educated
92%
High-School Grad
123.5 sq mi
ZIP Area
93
Density / Sq Mi
$76,398
Median Household Income
$45,563
Median Earnings
$975
Median Rent
$224,800
Median Home Value
Market
Properties on Market for Mixed-use properties in Will County
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
