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$389,900 Just Listed
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Property Description
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!
Full Property Details
Full Property Details for 28542 S Walleye Ln
General
- Price: $389,900
- HOA FEE: $55/month
- HOA FEE FREQ.: Quarterly
- Taxes: $3,668 (2025)
- Status: Active
- Type: Single Family
- Source: MRED
- MLS ID: 12700640
Rental Information
- Complex Features: Water Rights
Interior
- Basement: Crawl Spac
- Interior Features: Granite Counters
- Fireplace: Yes
- Number of Fireplaces: 1
- Fireplace(s): Family Room, Gas Log
- Appliances: Range, Microwave, Refrigerator
Rooms
Bathrooms
- Total Bathrooms: 1
- Full Bathrooms: 1
- Bathroom Features: European Shower
Bedrooms
- Total Bedrooms: 2
Additional Information
- Other Features: Flood Zone
Exterior
- Exterior Features: Outdoor Grill
Parking
- Garage: Yes
- Garage Spaces: 4
- Total Spaces: 4
- Parking Features: Gravel, Garage, Yes, Garage Owned, Detached
Location
- Area: Wilmington
- County: Will
- Township: Wilmington
- Driving Directions: Take County Line/Will Road north from Lorenzo Rd over Kankakee river bridge to first street you can turn right on, which is Willow Ln. Follow Willow Ln all the way till it ends and bends to the right to Walleye Lane. Follow Walleye Lane to Catfish Drive. The property is on Walleye and Catfish.
School Information
- School District: 209U
- Elem School District: 209U
- Midd School District: 209U
- High School District: 209U
- Elementary School: Bruning Elementary School
- Middle School: Wilmington Middle School
- High School: Wilmington High School
- Private School: Wilmington High School
Community
- Assoc. Fees Include: Insurance, Snow Removal, Other
- Mgmt. Company: JMS
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Natural Gas
Utilities
- Sewer: Septic Tank
- Water: Well
Structural Information
- Architectural Info: Ranch
- Architectural Style: Ranch
- Construction: Vinyl Siding
- Exterior Const.: Vinyl Siding
- Basement: Yes
- Basement Desc.: Crawl Space
- Foundation: Block
- Roof: Asphalt
- Windows: Screens, Display Window(s), Some Wood Windows
- Doors: Sliding Doors
- Square Feet: 1,386
- Sq. Ft. Source: Assessor
- Year Built: 1969
- Built Before 1978: Yes
- Remodeled/Updated: 2026
Additional Structures
- Other Structures: Workshop, Outbuilding
Lot Features
- Lot Size (Acres): 0.52
- Lot Size Range: .50 to .99 Acre
- Lot Dimensions: 117 x 307 x 76 x 166 x 65 x 64 x 42
- Lot Features: Corner Lot, Irregular Lot, Landscaped, Water Rights, Wooded, Mature Trees
Water Features
- Water Front: Yes
- Water Front Desc.: Waterfront
- Water Front View: Back of Property
Financial Considerations
- Association Fee: $165
- Assoc Fee Freq.: Quarterly
- Assessment Year: 1969
- Tax Amount: $3,668
- Tax Year: 2025
- Pays Sewer: Septic Tank
Disclosures and Reports
- Ownership: Fee Simple
- Property ID: 317063030011085
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Tax History
Tax History for 28542 S Walleye Ln
Year
Property Taxes
Change
Tax Assessment
Change
2025
$3,669
323%
$58,232
6%
2023
$867
-28%
$55,170
10%
2022
$1,199
—
$49,959
7%
2022
$1,199
-4%
$46,626
3%
2020
$1,246
—
$45,401
2%
2019
$1,245
-1%
$44,506
2%
2018
$1,253
-1%
$43,493
7%
2017
$1,260
1%
$40,629
9%
2016
$1,249
-3%
$37,326
2%
2015
$1,291
—
$36,434
-1%
2014
$1,293
5%
$36,802
-6%
2013
$1,232
1%
$39,218
-5%
2012
$1,220
—
$41,391
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 28542 S Walleye Ln
28542 S Walleye Lane, Wilmington, IL 60481 (MLS# 12700640) is a Single Family property with 2 bedrooms and 1 full bathroom. 28542 S Walleye Lane is currently listed for $389,900 and was received on July 09, 2026. Want to learn more about 28542 S Walleye Lane? Do you have questions about finding other Single Family real estate for sale in Wilmington? You can browse all Wilmington real estate or contact a Coldwell Banker agent to request more information.
