Land Sale of the Week: $12,500/acre in Central Illinois

August 25, 2016 11:47 AM
 

Mike Walsten

An August 20 auction saw several large tracts in Sangamon County, Ill., sell for up to $12,500 an acre. The farm offering consisted of 200 acres and was located four miles southwest of Springfield, Illinois. Here is the breakdown by tract.

Tract 1: 35 acres; nearly 100% tillable; soil PI 140.7 with 147 maximum per Bulletin 811; $12,100 an acre.

Tract 2: 85 acres; nearly 100% tillable; soil PI 138.5; $12,100 per acre.

Tract 3: 81 acres; nearly 100% tillable; soild PI 142.7; $12,500 per acre.

Handling the auction was Sullivan Auctioneers, Hamilton, Ill., 844-847-2161.

 

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Comments

 
Spell Check

Jack
Mitchell, SD
8/29/2016 11:42 AM
 

  I don't even begin to understand these continued high priced land sales. Prices are all down, grains, livestock, etc. No real hope for real improvement......The buyers of the land that is way over "what will pay for itself", must either have cash to burn, (or just waste), or this land must have development potential. I have a relative that lives on a lake in MN, and now several farmer owned lake homes, bought during the "good times", are back on the market. What does that tell one about their confidence in the overall farm economy......they must need the cash to shore up other farming related losses? God help us all, as we try to hang on......for those looking to buy farm land, I'd say.....be patient...... as land prices will continue to drop.

 
 

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