Unlocking the Value of Illinois Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - January 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 January 2025, a total of 2,500.19 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 January sales is $13,526/acre for farmland in Illinois counties.
• The highest-selling farm in Illinois in January was a 76.29-acre property in Livingston County, which sold for $21,800 per acre, totaling $1,663,122. This farm is 98% tillable with a 127.8 PI rating, equating to $171 per PI, and is located south of Forrest, 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: January 2025 Snapshot
Illinois farmland prices remained under pressure in January 2025, as Creighton University’s Rural Mainstreet Index (RMI) reported another month below growth neutral. The state’s farmland price index inched up to 43.7 from December’s 42.9, but high input costs, weaker grain prices, and elevated interest rates continue to challenge farmland values. Bankers project an average annual cash rent of $278 per acre for non-irrigated farmland, with many expecting one in five grain farmers to face negative cash flow in 2025. Looking ahead, Illinois farmland values may see further volatility, driven by financial strain in grain markets, changing Federal Reserve policies, and shifting global trade demands. While Illinois agricultural exports rose 17.6% in 2024, with China accounting for nearly a third of total exports, the long-term outlook for farmland prices will depend on profitability improvements and broader economic conditions.
For more detailed information, visit the Creighton University Rural Mainstreet Economy page.
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 tillable acre decreased slightly to $13,526/acre, down from $14,191/acre last month for farms that are 80% or more tillable. A year ago, the average was $13,966/acre, while the current 12-month rolling average stands at $13,333/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 January showed a decrease from last month. In December, 4,819.66 acres sold in Illinois and in January 2,500 acres were sold. If you’re contemplating selling, now is an opportune 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 decreased by $4 from December to January, now at $103/PI. A year ago, the price per PI point was $105, with the 12-month rolling average currently at $105.16/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 | Soil Score | $/PI |
|---|---|---|---|---|---|---|---|---|
| White | 01/07/2025 | 118.28 | $8,433 | $997,500 | 111.01 | 93.85 | 96.3 | $88 |
| Bureau | 01/07/2025 | 78.02 | $15,400 | $1,201,508 | 76.10 | 97.54 | 133.2 | $116 |
| Lee | 01/07/2025 | 26.21 | $16,750 | $439,018 | 25.39 | 96.87 | 141.4 | $118 |
| Stark | 01/08/2025 | 155.00 | $14,000 | $2,170,000 | 148.08 | 95.54 | 132.6 | $106 |
| Henry | 01/09/2025 | 80.00 | $14,500 | $1,160,000 | 78.23 | 97.79 | 132.1 | $110 |
| Livingston | 01/10/2025 | 76.29 | $21,800 | $1,663,122 | 75 | 98.31 | 127.8 | $171 |
| Fayette | 01/15/2025 | 39.00 | $9,000 | $351,000 | 33.00 | 84.62 | 101.6 | $89 |
| Champaign | 01/16/2025 | 81.91 | $15,000 | $1,228,650 | 66.53 | 81.22 | 141.9 | $106 |
| Champaign | 01/16/2025 | 82.70 | $15,100 | $1,248,770 | 79.28 | 95.86 | 143.8 | $105 |
| Champaign | 01/16/2025 | 77.50 | $17,000 | $1,317,500 | 77.50 | 100.00 | 143.5 | $118 |
| Stephenson | 01/21/2025 | 101.63 | $12,500 | $1,270,375 | 100.88 | 99.26 | 131.6 | $95 |
| Adams | 01/21/2025 | 137.95 | $18,100 | $2,496,895 | 134.00 | 97.14 | 135.2 | $134 |
| Adams | 01/21/2025 | 76.14 | $18,350 | $1,397,169 | 73.00 | 95.88 | 135.2 | $136 |
| Pike | 01/22/2025 | 154.09 | $14,300 | $2,203,487 | 147.77 | 95.90 | 116.3 | $123 |
| Champaign | 01/22/2025 | 640.00 | $14,750 | $9,440,000 | 607.88 | 94.98 | 135.5 | $109 |
| Douglas | 01/22/2025 | 80.00 | $14,812 | $1,185,000 | 80 | 100.00 | 130.7 | $113 |
| Champaign | 01/22/2025 | 68.61 | $16,500 | $1,132,065 | 68.61 | 100.00 | 143.5 | $115 |
| Menard | 01/23/2025 | 24.54 | $5,700 | $139,878 | 21.26 | 86.63 | 102.2 | $56 |
| Schuyler | 01/24/2025 | 39.88 | $7,100 | $283,148 | 35.32 | 88.57 | 115.3 | $62 |
| Schuyler | 01/24/2025 | 55.90 | $14,200 | $793,780 | 51.25 | 91.68 | 133.0 | $107 |
| Lee | 01/28/2025 | 160.00 | $7,650 | $1,224,000 | 140.35 | 87.72 | 124.5 | $61 |
| Fulton | 01/29/2025 | 20.75 | $8,300 | $172,225 | 20.50 | 98.80 | 138.6 | $60 |
| McDonough | 01/29/2025 | 33.15 | $10,200 | $338,130 | 32.10 | 96.83 | 117.4 | $87 |
| Knox | 01/30/2025 | 110.03 | $11,800 | $1,298,354 | 94.37 | 85.77 | 128.6 | $92 |
| Knox | 01/30/2025 | 100.89 | $11,800 | $1,190,502 | 92.68 | 91.86 | 126.2 | $94 |
| Totals/Avg. | 2,500.19 | $13,526 | $36,342,076 | 2,470.09 | 94.10 | 128.3 | $103 |
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.