Land Sale of the Week: $14,300/acre in Central Illinois

February 24, 2017 03:00 PM
 

Mike Walsten

A Feb. 22 auction saw 81 acres in Tazewell Co., Ill., sell for $14,300 an acre. The tract was part of a 162-acre offering located one mile northeast of Delavan, Ill., and another 160-acre offering located five miles south of Delavan and across the county line in Logan County.

Tract 1: 81 acres; 100% tillable, soil PI 142 with 147 being maximum per Bulletin 811. It sold for $14,300 an acre.

Tract 2: 81 adjacent acres; 100% tillable; soil PI 142. It brought $13,100 an acre.

Tracts 3 & 4: 160 acres; 153 tillable acres; soil PI 138.6. It sold for $11,100 an acre.

Handling the auction were Steve Burrow, Peoria, 309-687-6008 and David Klein, Bloomington, Ill., 800-532-5263 with Soy Capital Ag Services.

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Comments

 
Spell Check

Ted Bruns
Ogallala , NE
2/25/2017 09:40 PM
 

  And my in laws said there was no money to be made in farming. Apparently someone is still making money in farming even with these low commodity prices.

 
 
C.K
bad axe, MI
2/27/2017 08:21 AM
 

  With 68 trillion in credit market debt there's plenty of deposits at the bank to lend on land. The 1 million dollar FHA loan guarantee program that you the taxpayer are hung for 90% percent of the lose (Christmas in July for the lender no risk program). The problem I see is when land premium farmland in Russia is selling for $300.00 an acre and were paying $14,000.00 an acre who do you think is going to go bankrupt first?

 
 

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