Braceville is located at 41°13?35?N 88°15?55?W / 41.22639°N 88.26528°W / 41.22639; -88.26528 (41.226340, -88.265141). According to the United States Census Bureau, the village has a total area of 1.3 square miles (3.4 km²), of which, 1.3 square miles (3.4 km²) of it is land and 0.75% is water.
As of the census of 2000, there were 792 people, 284 households, and 220 families residing in the village. The population density was 601.8 people per square mile (231.7/km²). There were 300 housing units at an average density of 228.0 per square mile (87.8/km²). The racial makeup of the village was 98.86% White, 0.13% Native American, 0.13% from other races, and 0.88% from two or more races. Hispanic or Latino of any race were 1.14% of the population.