Elwood is a village in rural Will County, Illinois, United States, approximately 40 miles southwest of Chicago.

The completion of the Joliet–Bloomington railroad, now part of the Union Pacific system, played a major role in the founding of Elwood.

In the late 1930s, the federal government acquired nearby land for military training and weapons production, on which site the Joliet Arsenal was built and commenced operation in 1940.

Arsenal construction played an important role in the development of Elwood and brought about 175 people into the area.

On May 8, 1988, a tornado touched down about three miles (5 km) north of the village, uprooting large trees and heavily damaging some homes and pole buildings.

By 1996, Elwood’s population rose to nearly 1,423, with development accelerated due to the construction of the CenterPoint Intermodal Center facility.

[3] A residential fire in the Wyndstone Village subdivision on April 17, 2009, caused extensive damage to two townhomes.

Pace provides bus service on Route 511 connecting Elwood to downtown Joliet and other destinations.