Mikhaele Howell
SQUARE FEET5,243
MLS#12631492
STATUSNew
PROPERTY TYPECommercial - Retail
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.
Property Features
Property Type: Commercial - Retail
Cooling: Central Air
Lot Size: 0.30 Acres
Stories: 1.0
Taxes: $6,321
Year Built: 1914
Feature Descriptions
Current Use: Commercial, Office
Electric: Circuit Breakers, Separate Meters
Exterior: Block, Wood
Fire Protection: Smoke or Fire Protectors, Carbon Monoxide Detector(s)
Flooring: Concrete, Other
Foundation: Concrete Perimeter
Frontage Type: City Street
HVAC: Forced Air
Location: Central Business District, Riverfront, Water Front, Water View, In City Limits, High Traffic Area
Lot Dimensions: 99x132x99x132
Miscellaneous Indoor: Accessible Entrance, Accessible Washroom/s, Multi-Tenant, Overhead Door/s, Private Restroom/s, Public Restroom/s, Laundry Room
Number of Tenant(s): 8
Parcel#: 0317253140110000
Parking: 13-18 Spaces, Private Lot, Parking On-Site, Parking-Street
Tenant Pays: Electricity, Heat, Repairs, Sewer, All Utilities, Trash Collection
Units: 10
Listed By / Shown By
Listed By
Agency Name: RE/MAX Ultimate Professionals
Agency Phone: 815-725-4545
Shown By
Agent Name: Mikhaele Howell
Agent Phone: (815) 871-6787
Agency Title: Gambino Realtors
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116-118 S Water Street | MLS# 12631492
This commercial property located at 116-118 S Water Street , Wilmington, IL 60481 is currently listed for sale with an asking price of $1,225,000. Search Wilmington real estate on mhowell.gogambino.com today.