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Land Sale of the Week: $14,400/a in Central Illinois

16:30PM Dec 30, 2014

Mike Walsten

A mid-December auction of nearly 300 acres in central Illinois reflects the steady demand that still exits for quality farmland in highly competitive areas. This auction featured 295 acres total acres with 290 acres tillable. The ground was located southwest of Chatham in Sangamon County. Chatham is south of Springfield. That area features some very large, highly competitive farm operations, which compete for ground through aggressive cash rents.

The Dec. 17 auction saw the 295 acres offered as three parcels averaging about 98 acres in size. The Productivity Index (Illinois Bulletin 811 with a maximum of 147) on the three parcels ranged from about 136 to 140 an averaged 137.4 across the whole farm.

Selling price was $14,400 per acre with the buyer taking the entire parcel.

Handling the auction was Reid Thompson, AFM, Hertz Real Estate Services, Monticello, Ill., 214-762-9881.

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