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28542 S Walleye Ln, Wilmington, IL, 60481

2beds
1baths
1,386sqft
$379,900
$274price/sqft
$2,737/moest. monthly cost
$109,480/yrincome needed

About This Home

A RARE KANKAKEE RIVER OFFERING! Tucked away in the well-known Phelan Acres river community, this one-of-a-kind waterfront property delivers a combination that is increasingly difficult to find: direct channel access to the Kankakee River, a private boat ramp, an impressive four-car detached garage and workshop, and more than half an acre surrounded by nature. Ideally positioned near the end of a quiet, dead-end street, the property enjoys the best of both worlds. On one side, the channel connects you to miles of boating, fishing, kayaking, and river recreation. On the other, a tree-lined cornfield creates a peaceful country backdrop where deer, pheasants, and other wildlife are frequent visitors. The established Phelan Acres neighborhood completes the setting, providing the feeling of a private retreat without being completely removed from the community. Whether you envision launching your boat from your own property, fishing just steps from your door, spending quiet evenings around a fire, or simply enjoying the scenery, this location offers a lifestyle few properties can match. The move-in-ready two-bedroom, one-bath cottage has been extensively updated while retaining its warm, inviting character. A spacious living room is centered around a beautiful brick fireplace-the perfect gathering place after a day on the river. The completely remodeled bathroom features an oversized tiled walk-in shower, quartz vanity, and modern fixtures. In the kitchen, timeless solid-wood cabinetry is complemented by beautiful new granite countertops, providing abundant storage and workspace. New luxury vinyl plank flooring flows throughout the home, while both bedrooms offer generously sized closets. A convenient laundry room with its own exterior entrance adds everyday functionality. Nearly every major infrastructure improvement has already been completed, including an entirely new plumbing system, new plumbing fixtures, new water heater, new pressure tank, new electrical service panel in the home, and new electrical panel and wiring in the detached garage. The property also features a private deep well with excellent water quality, a private septic system, and a newer natural-gas furnace, central air-conditioning system, and roof. All the heavy lifting has been done-simply move in and begin enjoying the property. Another exceptional feature is the approximately 1,250-square-foot detached four-car garage and workshop. With room for boats, trailers, classic cars, ATVs, motorcycles, recreational equipment, woodworking, hobbies, or an expansive workshop, this building is an incredible asset rarely found with a river property. Its brand-new electrical service adds even more versatility for projects, equipment, and year-round use. The spacious 0.52-acre corner lot provides abundant room for parking, entertaining, outdoor recreation, and storing the toys that make river living so enjoyable. Perfect as a full-time residence, weekend escape, sportsman's retreat, or recreational getaway, this is much more than a remodeled home-it is an opportunity to own a truly distinctive piece of the Kankakee River lifestyle. Properties offering this combination of private river access, a personal boat ramp, natural surroundings, substantial land, and an oversized garage are few and far between. Move in and start enjoying summer on the river!

Getting Around

0
WalkingCar-Dependent
0
TransitVery Limited Transit
25
BikeSomewhat Bikeable

Schools

7/10
Wilmington Middle SchoolGrades 6-86.7 mi
5/10
Wilmington High SchoolGrades 9-127.0 mi

Construction

Condition

  • Year built: 1969

Materials

  • Foundation: Block
  • Roof: Asphalt
  • Construction materials: Vinyl Siding

Notable Dates

  • Major remodel year: 2026

Type & Style

  • Home type: SingleFamily
  • Architectural style: Ranch
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Range,Microwave,Refrigerator
  • Laundry features: Electric Dryer Hookup

Basement

  • Has basement: Yes
  • Basement: Crawl Space

Bedroom2

  • Features: Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 90
  • Dimensions: 9X10

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 1
  • Full bathrooms: 1

Dining Room

  • Features: Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 182
  • Dimensions: 13X14

Features

  • Granite Counters
  • Door features: Sliding Doors
  • Window features: Screens,Display Window(s),Some Wood Windows
  • Number of fireplaces: 1
  • Fireplace features: Gas Log,Family Room
  • Fireplace: Yes
  • Attic: Unfinished

Heating & Cooling

  • Heating features: Natural Gas
  • Cooling features: Central Air

Interior Area

  • Total structure area: 0
  • Total interior livable area: 1,386 sqft

Kitchen

  • Features: Kitchen (Galley,Granite Counters),Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 117
  • Dimensions: 9X13

Laundry

  • Features: Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 81
  • Dimensions: 9X9

Living Room

  • Features: Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 345
  • Dimensions: 15X23

Master Bedroom

  • Features: Flooring (Luxury Vinyl)
  • Level: Main
  • Area: 209
  • Dimensions: 11X19

Property

Accessibility

  • Accessibility features: No Disability Access

Details

  • Parcel number: 0317063030011085
  • Special condition: None

Features

  • Stories: 1
  • Patio & porch: Deck
  • Exterior features: Outdoor Grill
  • Has view: Yes
  • View description: Water,Back of Property
  • Has water view: Yes
  • Water view: Water,Back of Property
  • On waterfront: Yes
  • Waterfront features: Waterfront

Lot

  • Lot size: 0.52 Acres
  • Features: Corner Lot,Irregular Lot,Landscaped,Water Rights,Wooded,Mature Trees
  • Lot size dimensions: 117 X 307 X 76 X 166 X 65 X 64 X 42

Parking

  • Total spaces: 4
  • Parking features: Gravel,Garage,Yes,Garage Owned,Detached
  • Has garage: Yes
  • Attached garage spaces: 4
  • Covered spaces: 4

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Cold Wave
    Cold WaveRelatively High
  • Inland Flooding
    Inland FloodingRelatively High
  • Tornado
    TornadoRelatively High

How This Home’s Risks Compare

Cold Wave
Inland Flooding
Tornado

FEMA Declared Disasters Across Illinois Counties

Flood
Severe Storm
Straight Line Winds
Tornado

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $1,920$23,040
Home Insurance *$262$3,144
Property Taxes $425$5,100
Electricity $130$1,569
Total$2,737$32,844
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$93,840/yr
40% on housing$82,110/yr
45% on housing$72,986/yr

Illinois FAIR Plan Programs

Illinois FAIR Plan Association

Covered
WildfireWildfire
Add-on available
HailHail
WindWind
Visit Website →
Current Policies
Residential: 1,961Commercial: 62
Total Premiums$4.35M
Total Exposure$370.02M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 12.5%
12.5%
0%30.0%
Electricity Growth Rate10-year average: 5.5%
5.5%
0%15.0%
Property Taxes Growth Rate2-year average: -0.5%
-0.5%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$274This listing

vs Other Active Listings

Avg $/sqft

ZIP 60481$144
Will County$189

vs Homes Sold Last Month

Median $/sqft

ZIP 60481$203
Will County$193

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-03-20Sold$220,000

For Sale by Agent

AgentMarlene Carlson
BrokerageHomeSmart Realty Group

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