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Print

Illinois land prices hit $5,800 per acre

September 28, 2011 at 04:07 PM

The Associated Press

BLOOMINGTON, Ill. (AP) - Farm land is starting to come up for sale in some parts of Illinois, and it’s happening at a time of sky-high prices. 

The U.S. Department of Agriculture says Illinois farm land is selling for $5,800 an acre. Prices have doubled since 2004. High corn and soybean prices and low investor confidence in other assets have pushed up demand for farm land. 

Land brokers in central Illinois say they’re starting to see more tracts on the market. 

Dave Klein is a broker with Soy Capital Ag Services in Bloomington. He tells The (Bloomington) Pantagraph (http://bit.ly/ni5fEj ) that his firm has 12,000 acres for sale. That’s 20 percent more than last fall. 

Klein believes land could continue to be a good investment if demand for corn and soy keep crop prices high.

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