Unlocking the Value of Illinois Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - February 2025 Report
Welcome to Our Monthly Illinois Farmland Value Report
In this monthly report, Rachel Tiffany, Land Broker and Auctioneer dives into Illinois farmland values, helping you understand the factors that determine what your farm is potentially worth. Our goal as auctioneers and farmland real estate agents is to provide you with up-to-date information, recent sales data, expert insights, and tips for maximizing the potential value of your farmland sale. Let us answer the questions you have about selling farmland in Illinois. Contact us today for a free consultation.
Recent Farmland Sales Data
Let’s dive into the latest sales data, including county location, land size by acre amount, soil productivity ratings, and sale prices per acre and total price in the table below. By analyzing this data, you can get a clearer picture of how your property may be valued in the current market.
Current Average Price of Farmland in Illinois
• In the month of February 2025, a total of 4,100.23 acres of 80% or more tillable farms was sold in Illinois by the auction sales method.
• The current average per acre price for land in Illinois according to these February sales is $13,775/acre for farmland in Illinois counties.
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- The current average price per TILLABLE acre is $14,364/tillable acre
• The highest-selling farm in Illinois in February was a 36-acre property in Douglas County, which sold for $21,000 per acre, totaling $756,000. This farm is 95% tillable with a 144 PI rating, equating to $146 per PI, and is located south of Newman, IL.
• See the full results of all farmland sold by auction this month at the end of the blog, along with graphs showing 12 months of data on price per acre, total acres sold, and average dollars per PI each month.
Understanding Illinois Farmland Values:
Illinois Farmland Prices: February 2025 Snapshot
In the February 2025 Creighton University Rural Mainstreet Index (RMI), the outlook for farmland prices in Illinois suggests continued caution moving forward. The farmland price index fell slightly to 42.5 from 43.7 in January, staying below the neutral growth level of 50.0, which indicates ongoing weakness in farmland values.
Future Outlook:
- Stagnant to Slightly Declining Prices: Bank CEOs in the region anticipate that farmland prices may continue to face downward pressure in the next few months due to lower commodity prices and higher interest rates. These factors are making it harder for values to increase.
- Potential Stabilization by Mid-2025: Some optimism remains that if inflation cools and interest rates stabilize, farmland prices could level off or see modest improvements by mid-to-late 2025. However, without significant improvements in commodity markets or broader economic conditions, a sharp rebound is unlikely.
- Impact of Policy and Weather: Policy uncertainty, including potential changes to government subsidies and conservation programs, may also affect farmland values. Additionally, unpredictable weather patterns could influence crop yields, which in turn could impact farmland prices.
For more detailed information, visit the Creighton University Rural Mainstreet Economy page.
Positive Note for Sellers:
Despite these trends, high-quality farmland is still commanding strong prices, and if you are considering selling farmland in the next 1-3 months, now is still a great time to do so. We know where the market stands and can provide a detailed market analysis report to help you assess your farm’s value and position it for maximum returns.
✅ Let us help you achieve top dollar for your farmland by leveraging our proven marketing strategies and auction expertise. Reach out today to discuss your goals and explore the best selling options!
Rachel Tiffany
Auctioneer & Land Broker
Email: [email protected] | Phone: 515-954-8063
Assessing Your Farm’s Worth:
Illinois Land Market Analysis Appraisal Technique
Curious what your farm could sell for? We prepare market analysis for each of our farmland sellers to help you discover and learn what your farm is worth from our market based research and expertise. Fill out our form here to request a market analysis of your Illinois farmland or call us at 402-739-8696
Current Farmland Prices in Iowa: A 12-Month Overview
Explore the accompanying graph for insights into Illinois farmland prices over the past year. In January, the average price per acre was $13,526/acre, and increased to $13,775/acre in February. for farms that are 80% or more tillable. A year ago, the average was $12,619/acre, while the current 12-month rolling average stands at $13,318/acre. If you’re considering selling your farm, contact us for an expert opinion on its market value.
Number of Acres Sold Per Month – 80% or more Tillable Farms
The volume of acres sold in February showed an increase from last month. In January, 2,500 acres sold in Illinois and in February 4,100 acres were sold. A year ago, 3,898 acres were sold. If you’re contemplating selling, now is a great time to connect with us and discuss into the details of the process. Initiate the process today by completing this form, and one of our experienced auctioneers or land brokers will reach out to you promptly!
Monthly Illinois Auction Results: Average Price Per PI Point
The price per Productivity Index (PI) point increased by $5 from January to February, now at $108/PI. A year ago, the price per PI point was $101, with the 12-month rolling average currently at $105.37/PI. This soil productivity metric plays a crucial role in determining farmland value. If you’re unsure of your farm’s PI rating, contact us for a soil map and evaluation—especially if you’re considering selling land in Illinois.
RECENT FARMLAND SALES IN ILLINOIS
| County | Date Sold | Total Acres | $/Acre | Total Price | Tillable Acres | $/Tillable Acre | % Tillable | Soil Score | $/PI |
|---|---|---|---|---|---|---|---|---|---|
| Woodford | 02/03/2025 | 93.71 | $11,900 | $1,115,149 | 85.50 | 13,042.68 | 91.24 | 130.9 | $91 |
| Woodford | 02/03/2025 | 35.56 | $12,200 | $433,832 | 32.73 | 13,254.87 | 92.04 | 98.7 | $124 |
| Woodford | 02/03/2025 | 53.77 | $10,900 | $586,093 | 50.72 | 11,555.46 | 94.33 | 107.5 | $101 |
| Piatt | 02/04/2025 | 282.56 | $15,386 | $4,347,412 | 267.84 | 16,231.38 | 94.79 | 141.0 | $109 |
| Montgomery | 02/04/2025 | 75.00 | $15,080 | $1,131,000 | 75.00 | 15,080 | 100.00 | 131.2 | $115 |
| Montgomery | 02/04/2025 | 74.19 | $15,041 | $1,115,920 | 74.19 | 15,041.38 | 100.00 | 133.5 | $113 |
| Edgar | 02/04/2025 | 61.57 | $17,000 | $1,046,690 | 60 | 17,444.83 | 97.45 | 140.5 | $121 |
| Edgar | 02/04/2025 | 80.33 | $17,000 | $1,365,610 | 79 | 17,286.20 | 98.34 | 140.5 | $121 |
| Edgar | 02/04/2025 | 79.94 | $17,000 | $1,358,980 | 77 | 17,649.09 | 96.32 | 137.7 | $123 |
| Edgar | 02/04/2025 | 113.51 | $13,400 | $1,521,034 | 108 | 14,083.65 | 95.15 | 134.2 | $100 |
| Edgar | 02/04/2025 | 97.61 | $12,000 | $1,171,320 | 93 | 12,594.84 | 95.28 | 129.3 | $93 |
| Edgar | 02/04/2025 | 102.45 | $11,600 | $1,188,420 | 101 | 11,766.53 | 98.58 | 126.6 | $92 |
| Edgar | 02/04/2025 | 113.51 | $13,400 | $1,521,034 | 106 | 14,349.38 | 93.38 | 134.2 | $100 |
| Adams | 02/10/2025 | 54.30 | $9,600 | $521,280 | 47.69 | 10,930.59 | 87.83 | 115.5 | $83 |
| Adams | 02/10/2025 | 60.00 | $14,100 | $846,000 | 56.03 | 15,099.05 | 93.38 | 117.4 | $120 |
| Livingston | 02/10/2025 | 80.00 | $10,300 | $824,000 | 77.22 | 10,670.81 | 96.53 | 116.2 | $89 |
| Adams | 02/10/2025 | 18.29 | $17,700 | $323,733 | 18.29 | 17,700 | 100.00 | 131.2 | $135 |
| Douglas | 02/11/2025 | 36.00 | $21,000 | $756,000 | 34.23 | 22,085.89 | 95.08 | 144.0 | $146 |
| Edgar | 02/11/2025 | 161.93 | $16,000 | $2,590,880 | 159.59 | 16,234.6 | 98.55 | 144.0 | $111 |
| Douglas | 02/11/2025 | 70.50 | $18,900 | $1,332,450 | 70.12 | 19,002.42 | 99.46 | 142.7 | $132 |
| Douglas | 02/11/2025 | 68.51 | $18,900 | $1,294,839 | 68.51 | 18,900 | 100.00 | 143.6 | $132 |
| Crawford | 02/11/2025 | 40.00 | $10,000 | $400,000 | 40.00 | 10,000 | 100.00 | 105.4 | $95 |
| Clay | 02/11/2025 | 36.28 | $12,925 | $468,919 | 36.28 | 12,925 | 100.00 | 108.9 | $119 |
| Clay | 02/11/2025 | 40.00 | $13,350 | $534,000 | 40.00 | 13,350 | 100.00 | 108.7 | $123 |
| Clay | 02/11/2025 | 40.00 | $13,075 | $523,000 | 40.00 | 13,075 | 100.00 | 108.7 | $120 |
| Marion | 02/13/2025 | 10.91 | $10,100 | $110,191 | 8.78 | 12,550.23 | 80.48 | 97.0 | $104 |
| Marion | 02/13/2025 | 59.71 | $9,250 | $555,000 | 53.32 | 10,408.85 | 89.30 | 97.3 | $95 |
| Iroquois | 02/13/2025 | 160.00 | $11,187 | $1,790,000 | 158.93 | 11,262.82 | 99.33 | 103.1 | $109 |
| Vermilion | 02/13/2025 | 120.00 | $16,000 | $1,920,000 | 115 | 16,695.65 | 95.83 | 138.2 | $116 |
| McDonough | 02/18/2025 | 157.36 | $8,450 | $1,329,692 | 127.46 | 10,432.23 | 81.00 | 111.1 | $76 |
| McDonough | 02/18/2025 | 76.19 | $15,800 | $1,203,802 | 73.22 | 16,440.89 | 96.10 | 134.6 | $117 |
| Jasper | 02/18/2025 | 22.77 | $6,375 | $145,159 | 21 | 6,912.33 | 92.23 | 107 | $60 |
| McDonough | 02/19/2025 | 52.21 | $15,700 | $819,697 | 50.03 | 16,384.11 | 95.82 | 144.2 | $109 |
| Vermilion | 02/20/2025 | 67.95 | $14,000 | $951,300 | 65.61 | 14,499.31 | 96.56 | 142.4 | $98 |
| Christian | 02/20/2025 | 70.00 | $14,325 | $1,002,750 | 68 | 14,746.32 | 97.14 | 134.1 | $107 |
| Sangamon | 02/20/2025 | 80.00 | $19,000 | $1,520,000 | 78 | 19,487.18 | 97.50 | 135.7 | $140 |
| Sangamon | 02/20/2025 | 80.00 | $18,525 | $1,482,000 | 77.5 | 19,122.58 | 96.88 | 133.6 | $139 |
| Christian | 02/20/2025 | 50.28 | $16,400 | $824,592 | 48.5 | 17,001.90 | 96.46 | 131.6 | $125 |
| Christian | 02/20/2025 | 21.97 | $17,125 | $387,025 | 21 | 18,429.76 | 95.58 | 135.0 | $127 |
| Christian | 02/20/2025 | 59.34 | $18,350 | $1,088,889 | 56 | 19,444.45 | 94.37 | 134.9 | $136 |
| Christian | 02/20/2025 | 40.42 | $15,550 | $628,531 | 39.90 | 15,752.66 | 98.71 | 133.0 | $117 |
| Christian | 02/20/2025 | 60.61 | $18,375 | $1,113,709 | 60.04 | 18,549.45 | 99.06 | 131.9 | $139 |
| Warren | 02/26/2025 | 81.63 | $12,000 | $979,560 | 79.06 | 12,390.08 | 96.85 | 135.9 | $88 |
| Madison | 02/26/2025 | 10.00 | $10,050 | $100,500 | 9 | 11,166.67 | 90.00 | 120.4 | $83 |
| Madison | 02/26/2025 | 10.00 | $8,900 | $89,000 | 10 | 8,900.00 | 100.00 | 118.0 | $75 |
| Warren | 02/26/2025 | 81.63 | $7,100 | $579,573 | 81.2 | 7,137.60 | 99.47 | 124.8 | $57 |
| Knox | 02/27/2025 | 90.19 | $10,400 | $937,976 | 72.04 | 13,020.21 | 79.88 | 123.4 | $84 |
| Livingston | 02/28/2025 | 40.00 | $13,200 | $528,000 | 37.99 | 13,898.39 | 94.98 | 128.6 | $103 |
| Iroquois | 02/28/2025 | 80.00 | $17,000 | $1,360,000 | 76.69 | 17,733.73 | 95.86 | 133.0 | $128 |
| Livingston | 02/28/2025 | 135.59 | $13,400 | $1,816,906 | 132.36 | 13,727 | 97.62 | 126.7 | $106 |
| Livingston | 02/28/2025 | 80.00 | $13,200 | $1,056,000 | 78.47 | 13,457.37 | 98.09 | 125.5 | $105 |
| Livingston | 02/28/2025 | 156.24 | $9,750 | $1,523,340 | 154.19 | 9,879.63 | 98.69 | 118.2 | $82 |
| Ford | 02/28/2025 | 80.00 | $14,000 | $1,120,000 | 79.12 | 14,155.71 | 98.90 | 125.9 | $111 |
| Livingston | 02/28/2025 | 95.71 | $12,600 | $1,205,946 | 94.84 | 12,715.58 | 99.09 | 125.1 | $101 |
| 4,100.23 | $13,775 | $56,486,733 | 3,925.19 | $14,364.01 | 95.73 | 126.3 | $108 |
Navigating the Selling Process:
Tips for Selling Your Farm in Illinois
Explore a set of practical tips for successfully selling your farmland by downloading our free eBooks here. Schedule a non obligatory consultation with us today and we will cover everything from when is the best time to sell, a customized marketing plan, sales methods, how we can help you find the right buyer, and answer your questions.
Farm Real Estate Experts in Illinois
Meet our team of Illinois farm real estate and auction experts who can provide you with valuable guidance and personalized assistance throughout the selling process. If you’re looking to uncover the true value of your Illinois farm or are considering selling, don’t hesitate to reach out to our experienced team. We’re here to provide you with a customized plan to meet your goals. Contact us today to get started.