Illinois farmland sells for $11,593 per tillable acre

CHAMPAIGN, Ill. — The upward march of farmland prices continued on Aug. 22, as a regional investor paid $10,944 per acre for 143 acres of farmland ($11,593 per tillable acre) in Illinois’ Champaign and Ford counties. Champaign-based Murray Wise Associates marketed the property and managed the sale.

Bidders gathered at the Farm Credit Services office in Mahomet for the sale, in which they competed for the land in four tracts. Ultimately, all of the land - which included 135 acres of tillable farmland - sold to an Indiana investor.
“We’re continuing to see a clear trend: The people who know farmland best are buying. Local investors are building portfolios of land that they can lease for stable returns, while enjoying land’s inevitable long-term appreciation in value,” said Murray Wise, CEO of the auction company.

“We’ll get an even clearer picture of this trend in the coming weeks, as we conduct a series of farmland auctions in Illinois, Missouri, Ohio and Indiana,” said Wise.

Tillable farmland set for auction in Illinois

CHAMPAIGN, Ill. — Approximately 2,421 acres of land in McDonough and Henry counties will sell in two separate auctions on Sept. 21, with Murray Wise Associates managing both sales.

“A lot of farmland investors have been saying - with some justification - there simply hasn’t been much tillable farmland for sale. So it’s very rare in this market to have so much quality land set for auction, especially during the summer months,” said Murray Wise, CEO of the auction company. “In both McDonough and Henry counties, 70 percent or more of the land is tillable, and both are also in locations with development potential.”

The McDonough County auction will begin at 10 a.m. at the Days Inn in Macomb. The property includes approximately 367 acres, selling in seven tracts ranging in size from 12 acres to 114 acres. The land - more than 73 percent of which is tillable - is located on U.S. Route 67 on the north side of Macomb.
At 3 p.m., the company will auction 2,054 acres in Henry County.

“This land includes 1,500 acres of tillable farmland, as well as another 350 acres in CRP. This also includes some recreational land, with excellent deer and turkey hunting,” said Joe Bubon, who is managing both auctions. “The property is just north of Kewanee, with frontage on Highway 78, very close to the Johnson Sauk Trail State Recreation Area.”

The Henry County land includes tracts ranging from 10 acres to 335 acres. The auction will begin at 3 p.m. at the Kewanee American Legion, 1509 Railroad Ave., Kewanee. The land includes some potential building sites.
Individuals interested in additional information about the properties may visit www.murraywiseassociates.com or call Bubon at 217-298-6400.