Braidwood Lake, owned by Commonwealth Edison, is a partially perched, cooling lake. Braidwood Lake was constructed in the late 1970s and impounded in 1980-81 with water pumped from the Kankakee River. Several surface mined pits were flooded within the lake, so fisheries management actually began in 1978, before the lake existed. The lake was considered a semi-private area used by employees of Com Ed till the fall of 1981 when the Department of Conservation (now the Department of Natural Resources) acquired a long term lease agreement from Com Ed which allowed for general public access. Braidwood Lake currently is used for fishing, waterfowl hunting, fossil hunting by permit and as a waterfowl refuge.

Braidwood Lake can become very dangerous. Special precautions should be utilized. A wind warning system is in place by a flagpole located at the Cemetery Boat Ramp and the Kankakee Boat Ramp. The flag system displays predicted weather conditions for that day. Different colored flags will be raised to depict the weather conditions. The lake will be closed with 25 m.p.h. winds.

Boats with a minimum length of 14' are recommended. Motor size is unlimited but a 40 m.p.h. speed limit is strictly enforced.