Over time the lake's use for industry gave way to recreation, and it currently hosts Cravath Lakefront Park and Community Center on its northern shore near Whitewater's Main Street and downtown businesses.

[2] The draining of the lakes began in July 2019, followed by dredging in the winter of 2022, and a controlled burn to clear vegetation.

The lakes were refilled in the spring of 2022, and underwent a fish restocking process in conjunction with the Wisconsin Department of Natural Resources.

Cravath Lake hosts panfish, largemouth bass, and northern pike.

It contains the invasive species curly-leaf pondweed and eurasian water-milfoil.