Contact us: 563.441.1776
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.
Property Highlights
Property Type: Commercial - Retail
Building Description: 1.0 stories
Year Built: 1914
General Information
County: Will
Listed By:
RE/MAX Ultimate Professionals
815-725-4545
MRED MLS
MLS ID: 12631492
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116-118 S Water Street , Wilmington, IL 60481.
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| Loan Type | FHA 30 Year Fixed | VA 30 year fixed | 30 yr Jumbo |
| Purchase Price | $1,225,000 | $1,225,000 | $1,225,000 |
| Down Payment | $42,875 | $0 | $245,000 |
| Monthly Mortgage Amount | $7,308 | $7,603 | $5,955 |
| Taxes | $1705 | $1705 | $1705 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $735 | $0 | $0 |
| Monthly Estimated Total | $10,105 | $9,665 | $8,017 |
Disclaimer:
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. Information on this site was last updated 04/29/2026. The listing information on this page last changed on 04/29/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 04/29/2026 12:09:23 AM EST) or MRED MLS (last updated Wed 04/29/2026 12:04:58 AM EST) or SCWMLS (last updated Tue 04/28/2026 11:54:43 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Tue 04/28/2026 10:15:23 PM EST) or Cedar Rapids MLS (last updated Tue 04/28/2026 10:44:14 PM EST) or NEIRBR MLS (last updated Wed 04/29/2026 12:08:40 AM EST) or ICAAR MLS (last updated Tue 04/28/2026 11:37:25 PM EST) or ECIMLS (last updated Tue 04/28/2026 11:44:14 PM EST) or RMLSA (last updated Wed 04/29/2026 12:00:55 AM EST) or Muscatine MLS (last updated Wed 04/29/2026 12:00:09 AM EST) or No Coast MLS (last updated Wed 04/29/2026 12:04:23 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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Member Participants (and their affiliated licensees, if applicable) shall indicate on their websites that 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.
Based on information submitted to the MLS GRID. 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.
Privacy Policy / DMCA Notice / ADA Accessibility
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