The area of the village, and Mission Township where it sits, is defined by the river's distinct westward flow, which goes west, then south, then east, then south, and finally winds west again.

In February 1998, the river flooded again after a rain storm failed to drain into the frozen ground.

During the April 17–18, 2013 rain event, which flooded many bodies of water in the Chicago metropolitan area, the river and Somonauk Creek flooded, with much of the water level considerably diminished after it crested later that weekend.

The village itself is largely untouched, as a half-mile gap between the main area of town and the valley, coupled with two abandoned gravel quarry pits sitting within the gap, protects the town.

In 1834, a Cholera Epidemic swept through the community, with a cemetery South of town near the present day prison as proof of this event.

On June 24, 1872, the town of Sheridan voted forty-five to one to incorporate under the Old Statute of the State of Illinois.

The township's first post office building actually resided on the property of a farm, located a mile east of town, off of E 2650th Road.

The post office served the community until a Post Office was constructed in Sheridan, and the rest of the township was served either by the communities of Millington, Newark, Sheridan, Sandwich, or by rural routes.

As time progressed, the community grew, and the latter half of the 20th century saw expansive growth of local businesses, as there were a hardware store, two banks, a grocery store, two barber shops, two gas stations, three restaurants, and a tire center.

The community of Norway sits to the south of Sheridan at the intersection of Illinois Route 71 and County Highway 3.

Most of the services are provided by Sheridan, while the school district, (CUSD #2) serves the area, and the Serena Fire Protection District covers the community and has a small station located in Norway.

The village is covered by Community Unit School District #2, which is based out of neighboring Serena.

Serena High School is in the Little Ten Conference of the IHSA Athletic Program.

Sheridan High School was a member of the Little Ten Conference between 1930 until the formation of District 2.