An auction of 108 acres in LaSalle County, Ill., this week got the farmland market buzzing as it brought a hefty price of $17,500 an acre. The Jan. 27 auction featured 102 tillable acres and extremely high-quality soils. The Productivity Index (PI) on the soils was 144.5. The maximum PI, according to Illinois Bulletin 811, is 147. Not only were the soils valuable but coal and potential other subsurface minerals were thought to have additional value. However, the sellers retained the mineral rights and sold the surface rights only.
The location of the ground is important. It is immediately northeast of Peru and immediately west of LaSalle. The purchasers may intend to farm the ground, as it is some of the best in the state. But development potential is extremely strong, too.
Steve Myers, Busey Farm Brokerage, LeRoy, 309-962-2901, handled the auction.
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