This lake is bordered on the north, northwest and the southwest sides by residential areas.

On the east and part of the southeast are warehouses and business buildings.

This park has four shelterhouses, thirteen picnic tables, five baseball fields, two soccer fields, a playground, a boat ramp, canoe access to the lake and fishing access.

This park has a large boat launching area.

[3][4][5] The Hook and Bullet site says Lake Shipp has the following fishes: pumpkinseed, channel catfish, bullhead, bluegill, redear sunfish, largemouth bass, redbreast sunfish.