Land Sale of the Week: $13,100/acre in East Central Illinois

March 24, 2017 03:00 PM
 

Mike Walsten

A March 21 auction in Champaign Co., Ill., saw 80 acres sell for $13,100 an acre. The tract was part of a 232-acre offering located 3 miles northwest of St. Joseph, Illinois. The 80-acre piece was all tillable and offered a soil Productivity Index (PI) of 143.7 with 147 being maximum per Illinois Bulletin 811.

The remaining 152 acres was offered as two tracts but sold as one for $12,500 an acre. It, too, was all tillable and had a soil PI of 142.5.

Handling the auction was Steve Myers, Busey Farm Brokerage, Champaign, Ill., 217-353-7101.

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Comments

 
Spell Check

C.K
bad axe, MI
3/25/2017 07:08 AM
 

  Well it's not $74,000.00 an acre what would be needed to pay it's share per acre, to pay off the 68 trillion of credit market debt in this country. But just think how long you can farm at $2.50 corn now. If you lose $150.00 per acre you can farm another 80 years before you lose the land . Only in America we have such credit and fiat money policies . We are so blessed being super kool big America.

 
 
Craig
Kearney, NE
3/25/2017 08:44 AM
 

  In Nebraska, high land prices =high property taxes. With commodity prices in the tank, property taxes are destroying Agriculture because property taxes must be paid even if there is no income to pay them. An increase in prices will have to come fairly soon or many will start throwing in the towel as they are bleeding equity in what are supposed to be the years that they are having high incomes. If/when that happens, a 1980's style collapse will ensue-despite low interest rates.

 
 

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