According to tradition, Saint Pitirim himself dug a well in the monastery, and it is believed that its water has healing properties. After the revolution, this holy spring was buried.

In 1998, in honor of the 300th anniversary of the death of Saint Pitirim, the Tambov Diocese received a plot of land for the construction of a church and the restoration of the spring. This occurred at the request of Archbishop Eugenie of Tambov and Michurinsk and by order of the Ministry of Defense, which transferred the plot from the command of military unit 96554. In 2002, a chapel was built over the spring on the territory of the former Tregulayevo Monastery, and on August 8 of the same year, it was consecrated by His Holiness Patriarch Alexy II of Moscow and All Russia during his visit to the Tambov Diocese.