Chequamegon Bay lies largely inside the barrier of Chequamegon Point and Long Island, with the Bad River Indian Reservation to the east. Ashland, Wisconsin is on its south, Washburn, Wisconsin is on its north.
Chequamegon Bay is mostly contained within Chequamegon Point and Long Island, with the Bad River Indian Reservation on its eastern side. Ashland, Wisconsin borders it to the south, and Washburn, Wisconsin is located to the north.