$1,165,000

116-118 S Water Street, Wilmington IL, 60481

Price per sqft$222.20

Built in1914

Property size5,243 sqft

Property typeCommercial

Listed by Daniel Condon with RE/MAX Ultimate Professionals 708-710-0267

Overview

Under contract

Contingent

Listed Apr 28, 2026

Updated May 30

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.

Additional information

MLS^® ID: 12631492

Interior Features

Bedrooms: 0
Cooling: Yes
Basement: No

Exterior Features

Lot Size: 0.3 Acres

Other Property Details

Taxes: $6,322
Tax Frequency: Annually

Listed by Daniel Condon with RE/MAX Ultimate Professionals 708-710-0267

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity^SM Program of Midwest Real Estate Data. Real estate listings held by brokerage firms other than Chris Piercy are marked with the Broker Reciprocity^SM logo or the Broker Reciprocity^SM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.

Based on information submitted to the MLS GRID for MRED 5/30/2026. 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, 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. Properties displayed may be listed or sold by various participants in the MLS. Properties displayed may be listed or sold by various participants in the MLS.

Data is refreshed every 3 hours. Listing last updated 4:12 AM UTC on 5/30/2026.

DMCA Notice