Alcohol & Drugs: MIP, MIC, Intoxication MIP in Illinois issued by Sherrif

[thehurt]

Hey I was looking through these forums and I can't seem to find anything of Illegal Possession of Alcohol by Minor in Illinois. Basically I am 18 year old and got caught, rather stupidly in a parking lot of a dance club by the sheriff right before I was going to take a drink with my buddy out of the trunk of my car. Before I could fully pour the first shot, I had my first MIP issued to me. I don't know if I got off easy, I ended up joking and laughing with the cop about the situation and he even told me that he had 4 of these before he was 21. Anyway I do have to report to court according to my citation and I was wondering what is the best plea to not have my clean record ruined, he pretty much told me its up to the judge, and my choices are Guilty or Innocent and that it should be something like a $75 fine. What is the no contest I have been reading about? And will this eventually be dropped from records if I don't plead guilty?