How Much is an Acre of Illinois Farmland Worth?

August 25, 2015 04:00 PM
How Much is an Acre of Illinois Farmland Worth?

If you want to farm in Illinois, better be prepared to ante up for those acres.

According to research by Bradley Zwilling of the University of Illinois at Urbana-Champaign, an acre of Illinois farmland is worth an average of $7,500.

That represents a 109% increase since 2006, when an acre of Illinois farmland went for an average of $3,590.

But it is a slight dip (0.3%) from 2014, when the state recorded its highest average farmland value in history at $7,520 per acre.

Even small drops in the average real estate value of farmland are relatively rare in Illinois.  “The 2015 decrease is the first since 2009 and only the second decrease since 1987,” Zwilling said. 

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Spell Check

Monroe, WI
8/29/2015 09:04 AM

  Got some of that $4500 Il. Farm ground I"lol take some!

roachdale, IN
8/28/2015 10:09 PM

  it's to bad that the people paying $ 7500 per acre aren't smarter with their money. if you pash cash for that land then you should have had that money in an investment account. a good financial advisor can get you 6 to 8% on a large sum of cash. if you are paying that and trying to farm it, you will never get it paid for based off of simple math. if you are buying it to rent to a farmer, $ 300 per acre rent only gets you 4% return and then once again another farmer is over paying cash rent. right now most farmers and landowners are equally their own and each others worst enemy ! bottom line is, most ag advisors who are unbiased and use real data will tell you the real value for Illinois farmland is around $ 4600 and Indiana around $ 3900 !

Chamberlain, SD
8/28/2015 10:09 AM

  It's too bad Real Estate Investment Trusts and Large Cooperate Farms have driven the prices so much higher than returns on the business model. There's too much temptation to sell. Real farmers just want the next generation to have the resource and continue the stewardship. With the money comes loss of community and it makes it harder to keep the tax man away. Money is too much temptation for many of the next generation family farmers. I'm considering an irrevocable trust to force good stewardship to the future generation.


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