Panama, IL

Panama is a village in Montgomery and Bond counties, Illinois, United States. The 2020 census counted 337 residents. The town was founded in the early 20th century when the Shoal Creek Coal Company of Chicago sank a coal mine shaft there. The shaft was completed in 1906. In Panama, history and present-day settings sit close enough to belong to the same local picture. The map tells the story in Panama, where earlier chapters remain visible in current streets, buildings, and gathering places. Panama is located on the border between Bond and Montgomery counties. Panama is 11 miles south of Hillsboro, the Montgomery County seat, and 16 miles northwest of Greenville, the Bond County seat.