$389,900
Wilmington, IL 60481
Located in the well-known Phelan Acres river community, this move-in-ready waterfront retreat offers the perfect blend of recreation, relaxation, and modern comfort. Featuring your own private boat ramp with direct channel access to the beautiful Kankakee River, this charming two-bedroom, one-bath cottage is ideal for boating, fishing, kayaking, hunting, or simply escaping to the peace and quiet of river living. Tucked away on a spacious 0.52-acre corner lot near the end of a dead-end street, you'll enjoy beautiful channel views on one side of the property and picturesque open fields on the other, where deer, pheasants, and other wildlife are frequent visitors. Inside, the home has been extensively updated and is truly move-in ready. The spacious living room is centered around a beautiful brick fireplace, creating the perfect place to gather after a day on the river. The completely remodeled bathroom features an oversized tiled walk-in shower, quartz vanity, and modern fixtures, while the kitchen combines timeless solid wood cabinetry with beautiful new granite countertops, offering abundant storage and workspace. New luxury vinyl plank flooring flows throughout the home, complemented by spacious bedroom closets and a convenient laundry room with its own exterior entrance. Extensive recent improvements provide exceptional peace of mind, including an entirely new plumbing system, new plumbing fixtures, new water heater, new pressure tank, new electrical service panel in the home, new electrical panel and wiring in the detached garage, private deep well with excellent water quality, private septic system, and newer natural gas furnace, central air conditioning, and roof. Nearly every major infrastructure improvement has already been completed, allowing you to simply move in and start enjoying the property. A true standout feature is the impressive detached garage and workshop offering approximately 1,250 square feet of versatile space. Whether you need room for boats, trailers, classic cars, ATVs, motorcycles, recreational equipment, woodworking, hobbies, or a serious workshop, this exceptional building is ready to accommodate it all. With its own brand-new electrical service, it provides endless possibilities for storage, projects, or business use. Combined with the generous half-acre lot, there is ample space for parking, entertaining, and enjoying everything this unique property has to offer. Whether you're searching for a full-time residence, a weekend getaway, or the ultimate river retreat, opportunities like this are few and far between. Move in just in time to enjoy summer on the Kankakee River!
Estimated monthly cost for this home
$2,462/mo
Estimate only, not a quote or offer of credit. Rate starts from today's market rate (6.58%, 2026-07-23). Taxes from the listing's MRED record. Talk to a lender for real numbers; a Subdiview agent can introduce you to a good one.
| 2025 property taxes | $3,668/yr |
From the listing's MRED record. MRED does not publish per-change dates through IDX, so price changes are shown without one rather than guessed.
Assigned schools per the listing's MRED record. Always verify with the district before you buy.
Elementary
Bruning Elementary School
209U
Middle
Wilmington Middle School
209U
High school
Wilmington High School209U
See programs, enrollment & homes near this school →
MRED Broker ReciprocityThis listing is part of the MRED data exchange program provided courtesy of HomeSmart Realty Group, listed by Marlene Carlson.
Information last updated Jul 17, 2026, 10:09 PM.
28542 Walleye Lane
Wilmington, IL 60481

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Call 224-385-8779Sourced from the MRED MLS feed. Last updated when the listing was modified.