Craig Hogan

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$ 670,000

$ 1,165,000 42.5%

Est. payment -/mo

Sold on 09/22/2026

116-118 S Water ST Wilmington, IL 60481

5,243 SqFt

UPDATED:

Key Details

Sold Price $670,000

Property Type Commercial

Sub Type Retail/Stores

Listing Status Sold

Purchase Type For Sale

Square Footage 5,243 sqft

Price per Sqft $127

MLS Listing ID 12631492

Sold Date 09/22/26

Year Built 1914

Annual Tax Amount $6,321

Tax Year 2024

Lot Dimensions 99x132x99x132

Property Sub-Type Retail/Stores

Property 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.