Perfect Storm of Factors Drives Up Illinois' Farmland Values

Perfect Storm of Factors Drives Up Illinois' Farmland Values


WBGZ Radio 4/21/2021 |
By Kevin Bessler - Illinois Radio Network
The values of Illinois' agricultural lands are increasing, as is optimism.
Appraisers first noticed the uptick late last year with Class A land when lands with few imperfections began selling for record prices. 
Illinois Society of Professional Farm Managers and Rural Appraisers Past President and Accredited Farm Manager Seth Baker said rising commodity prices have pushed up land values.
“We’re seeing sales at $14,000 up to as high as $16,000 an acre,” Baker said.
Besides crop prices, another factor driving prices up is investors, Baker said.
“They think inflation might be coming with all the stimulus money that’s being pumped into the U.S. economy, and traditionally farm ground is a good hedge against inflation, so it’ll kind of follow inflation,” Baker said.

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