Waterman is a village in DeKalb County, Illinois, United States. The population was 1,506 at the 2010 census, up from 1224 at the 2000 census. The village is known for the "Waterman and Western" train line that operates in Lion's Club Park. This 1/3 scale train line comprises a 1/2 mile train line circling the park and is a hobby of a local resident.