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.