Panama IL Homes for Sale
- Type:
- Single Family
- Sq.Ft.:
- 1,800
- Status:
- Active
- Beds:
- 2
- Lot size:
- 81.04 Acres
- Baths:
- 1.00
- MLS#:
- 24064626
- Subdivision:
- Not In A Subdivision
View additional info
Courtesy: Montgomery County Realty, Inc.
532-2525
ADDITIONAL INFORMATION
Hunter’s Paradise on 81.04 Acres offering the perfect blend of woods, pasture, and tillable ground—ideal for hunting, recreation, or farming! The property includes three parcels: 22.48 acres in Montgomery County (20-23-300-008) and 58.56 acres in Bond County (09-01-27-202-001 & 09-01-26-101-001). Approximately 10 acres are tillable, 40 acres are lush pasture, and the remaining acres are heavily wooded in mature virgin timber, this land has never been logged, providing both a scenic retreat and potential income from timber harvesting making this a dream location for hunters and outdoor enthusiasts. The property features a 2 bedroom home with a walk-out basement, a one car tuck-under garage, and an oversized 24x36 detached garage. Utilities include city water, private septic (pumped in 2023), and natural gas. Currently, the tillable land and pasture are leased to a local farmer, offering additional income potential. Don’t miss this incredible opportunity!!!
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Panama Real Estate
The median home value in Panama, IL is $25,000. This is lower than the county median home value of $90,500. The national median home value is $338,100. The average price of homes sold in Panama, IL is $25,000. Approximately 73.72% of Panama homes are owned, compared to 8.76% rented, while 17.52% are vacant. Panama real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Panama real estate agent to arrange a tour today!
Panama, Illinois has a population of 246. Panama is less family-centric than the surrounding county with 14.93% of the households containing married families with children. The county average for households married with children is 24.79%.
The median household income in Panama, Illinois is $56,875. The median household income for the surrounding county is $59,309 compared to the national median of $69,021. The median age of people living in Panama is 54.3 years.
Panama Weather
The average high temperature in July is 87.7 degrees, with an average low temperature in January of 20.4 degrees. The average rainfall is approximately 41.4 inches per year, with 13.2 inches of snow per year.