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$ 1,225,000
Est. payment | /mo
5,243 SqFt
$ 1,225,000
Est. payment | /mo
5,243 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 5,243 sqft
Price per Sqft $233
MLS Listing ID 12631492
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.
Location
State IL
County Will
Area Wilmington
Zoning COMMR
Interior
Cooling Central Air
Flooring Concrete, Other
Fireplace N
Building
Dwelling Type Retail/Stores
Structure Type Block,Wood
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Daniel Condon of RE/MAX Ultimate Professionals