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116-118 S Water St , Wilmington, IL 60481
$1,165,000
Est. Payment: $6,293.53/mo
5243 Sqft
0.3 Acres
Status: closed | Days on site: 31
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25103 - 273383,269544,99995
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from IDX Support, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

Prime Downtown Wilmington Mixed-Use Investment Opportunity-Turnkey, Leased and Exceptionally Versatile. Welcome to 116-118 S. Water Street, a professionally rehabbed mixed-use commercial property offering a rare combination of retail, bar, and office suites in the heart of downtown Wilmington. Thoughtfully renovated with designer-level finishes, this essentially new-construction building has been reimagined for flexibility, functionality, and long-term appeal. Featuring a blend of turnkey leased spaces, the property is well-suited for investors seeking income-producing real estate or owner-users looking for a dynamic business environment. All bathrooms are ADA compliant, and the property is zoned B-2A, allowing for a wide range of potential uses. Ideally positioned along the water in Wilmington's downtown corridor, the property offers a unique waterfront setting that enhances its appeal for retail, hospitality, office, or entertainment uses, while benefiting from excellent visibility, accessibility, and strong presence. This is an exceptional opportunity to add a quality mixed-use asset to your investment portfolio.
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Highlights

Listed by Daniel Condon , 708-710-0267 and Kayleigh Condon , (815) 405-8953 RE/MAX Ultimate Professionals , 815-725-4545. Midwest Real Estate Data mls logo

Property Type

Commercial Sale
Lot/Acreage
0.3

Year Built

1914

County

Will

Area

Wilmington

Listing ID

12631492

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Interior Features

Air Cond:Central Air
Fireplaces:
Floor:Concrete

Exterior Features

Lot Dimensions:99x132x99x132
Zoning:COMMR
Parking Features:13-18 Spaces,Private Lot,Parking On-Site,Parking-Street
Principal Interest
$6,294
Taxes
$527

Home Price

$1,165,000

Loan Details

30 yrs
7.148%

Down Payment

20%
$233,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$6,293.53

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,293.53 $526.80 $0.00 $6,820.33
Yearly $75,522.38 $6,321.60 $0.00 $81,843.98
Total $2,265,671.39 $189,648.00 $0.00 $2,455,319.39
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Chico Gordy
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Market insight data is pulled from the same city as the listing being viewed (Wilmington, IL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MRED as of the date listed below. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MTP or MRED. The use of the MRED Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. IDX information is provided exclusively for consumers' personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant's applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability. Some listings have been excluded from this website.

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Data last updated: 2026-11-02T21:23:08.000Z

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