This paper investigates the effects of dewatering on the strength and microstructure of mortars manufactured from Portland cement, hydrated calcium lime (CL90), and natural hydraulic limes of classification 2, 3.5, and 5 with binder/aggregate/water ratios of 1:2:0.78. Dewatering was achieved by placing the mortars on a high porosity brick. Dewatered and nondewatered specimens were exposed to an atmosphere containing 400 ppm carbon dioxide with a relative humidity of 65%, at 20°C for periods of 14, 28, and 56 days. Following hardening for these periods, compressive strengths were compared with evaluate the mechanical performance. The structural morphology of the samples was determined using scanning electron microscopy and chemical composition by Raman spectroscopy. Results showed CL90 mortars are unaffected by dewatering. However, dewatering resulted in an increase in the compressive strength for the hydraulic limes and cement mortars tested.