Quick Answer: How Much Is Farmland Worth In Illinois?

How much is farmland per acre in Illinois?

Good productivity farmland sales per acre averaged $8,296 acre weighted, average productivity $6,997, fair $4,860, and recreational tracts averaged $3,445 per acre.

Is Illinois farmland a good investment?

About 50% of farmland in Illinois is rented, according to the Illinois Society of Professional Farm Managers & Rural Appraisers. Experts said farmland is an attractive investment due to its stability in returns. Kuethe also said farmland is currently more stable than a lot of other markets.

How much does 1 acre of farm land cost?

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2020, no change from 2019. The United States cropland value averaged $4,100 per acre, no change from the previous year.

What is the average value of farmland?

U.S. farmland values remained high in 2020, averaging $3,160 per acre, a small decrease of 0.8 percent compared with 2019.

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How much does farmland rent for in Illinois?

In 2020, the Illinois Society reported an average rent for excellent quality farmland that is professionally managed farmland of $305 per acre. As with all rents, there is a considerable range around the average. This $305 per acre average was $34 per acre higher than the $271 average reported for counties by NASS.

How much does an acre of land cost in Illinois 2020?

Excellent land averaged $10,313 per acre across all regions of Illinois in the Illinois Society of Professional Farm Managers and Rural Appraisers half-year update of land prices.

Where does Bill Gates own farmland in Illinois?

Gates owns 17,940 acres in Illinois, the report also states. In its review, the Midwest Center found that Baloo Enterprises LLC purchased: 1,926.3 acres of farmland in Douglas County for at least $19,694,096 between 2016 and 2019.

Is owning farmland a good investment?

Farmland has historically been a good investment. Unfortunately, not many investors have been able to benefit from this asset class, given the high upfront costs of buying farmland.

Why are billionaires buying farmland?

Other billionaires such as Jeff Bezos (and a long list of other billionaires) have also been in the land acquisition business. The reasons billionaires have been buying farmland are not exactly clear, but a major reason may be simply because farmland is a tax-efficient and generally safe investment.

What state has the cheapest farmland?

Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.

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How much does an acre of land cost in Illinois 2021?

$10,500 per acre: Statewide average unchanged for excellent quality farmland – AgriNews.

Where is farm land cheapest?

12 best farmland bargains

  • West-Central Texas. $600/acre. Annual land payment: $50/acre.
  • Central Wisconsin. $5,000/acre.
  • South-Central Florida. $10,000/acre.
  • Northern Missouri. $1,400/acre.
  • Eastern Ohio. $5,000/acre.
  • Southwest Iowa. $4,000/acre.
  • Southeastern Wyoming. $4,000/acre (irrigation in place)
  • Eastern North Dakota. $5,000/acre.

How much farmland Does Bill Gates Own?

Bill Gates uses farmland as investment vehicle, owning 269,000 acres of land.

How much does 1 acre of land cost in NC?

Over the last 20 years, the price of farmland per acre in north carolina has risen by an average of 2.8% per year to $4,180 per acre as of 2019.

How is farmland value calculated?

The capitalization of rent valuation model simply reflects the current farmland cash rent divided by the current capitalization rate. For example, if a farmland has cash rent of $300 per acre and the current capitalization rate is 3.5%, the value of the farmland today is $300 divided by 3.5%, or $8,571 per acre.

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