Lake Freeman is a reservoir outside of Monticello, Indiana formed in 1925 by the completion of the Oakdale Dam.

The earthen dam is 58 feet (18 m) high, has a maximum capacity of 40,540 acre-feet (50,010,000 m3), normal capacity of 26,140 acre-feet (32,240,000 m3), and is owned by the Northern Indiana Public Service Company.

Lake Freeman, is however, home of the Madam Carroll, a pleasure excursion vessel, 36 feet (11 m) in width and 135 feet (41 m) in length.

Lake Freeman is roughly 1,500 acres (6 km2) in area and has a shoreline of 50 miles (80 km).

According to his widow, it was named for Rhode Island civil engineer Roger Morse Freeman who was involved in many well known projects; his father John R. Freeman, who he started his career with, was an internationally known engineer.