Unlocking the Value of Illinois Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - March 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 March 2025, a total of 1,722 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 March sales is $12,684/acre for farmland in Illinois counties.
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- The current average price per TILLABLE acre is $13,238/tillable acre
• The highest-selling farm in Illinois in March was a 77.89-acre property in Madison County, IL, which sold for $23,200 per acre, totaling $1,807,048. This farm is 99% tillable with a 133.7 PI rating, equating to $174 per PI, and is located West of Alhambra, 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:
Rural Mainstreet Index Update
According to Creighton University’s April Rural Mainstreet Index (RMI), the rural economy continues to struggle across the Midwest. The index remained below the growth-neutral level for the 19th time in 20 months, reflecting persistent weakness in key ag indicators. Farmland prices have fallen below growth-neutral in 11 of the past 12 months, weighed down by high interest rates, rising input costs, and trade-related uncertainty.
Farm equipment sales saw their 20th consecutive month of decline, and banker confidence remains low despite a slight uptick. Regionally, ag and livestock exports dropped 23.8% year-over-year in the first two months of 2025, with Mexico as the top destination.
In Illinois specifically, the RMI rose slightly to 34.6, while farmland prices improved modestly but stayed weak at 39.8. The state experienced a steep 45.8% decline in ag exports compared to early 2024, with China taking the lead as the top buyer at 22.4%. Hiring conditions also softened.
Notably, despite the economic challenges, 75% of rural bankers support the President’s recent tariff hikes on Chinese imports, though opinions remain divided on how much federal support farmers should receive in response.
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 March, the average price per acre of farmland in Illinois decreased to $12,684/acre, compared to February’s average price of $13,775/acre. These averages are for farms that are 80% or more tillable. A year ago, the average was $14,179/acre, while the current 12-month rolling average stands at $13,323/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 March showed a decrease from last month. In February, 4,100 acres sold in Illinois and in March 1,789 acres were sold. A year ago, 4,170 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 decreased $6 from Februaury to March, now at $102/PI. A year ago, the price per PI point was $111.77, with the 12-month rolling average currently at $105.42/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.
Fulton County, Illinois Farmland Auction Results
DreamDirt Farm & Land Auctions successfully sold 115.55 acres of prime farmland near Summum in Fulton County, Illinois, divided into two tracts. Tract 1, consisting of 82.74 acres, sold for $12,000 per acre, while Tract 2, with 32.81 acres, brought $13,550 per acre. The farms are located along Highway 24 in the southern part of Fulton County. Soil productivity ratings were 124.6 PI for Tract 1 and 128 PI for Tract 2. Both tracts are open for the 2025 crop season and were purchased by the same buyer—someone who grew up in Fulton County and still has family in the area.
For more farmland auction opportunities, contact Auctioneer Rachel Tiffany at 515-954-8063 or [email protected].
RECENT FARMLAND SALES IN ILLINOIS
| County | Date Sold | Total Acres | Total Price | $/Acre | Tillable Acres | $/Tillable Acre | % Tillable | Soil Score | $/PI |
|---|---|---|---|---|---|---|---|---|---|
| Fayette | 03/04/2025 | 80.00 | $1,051,908 | $13,200 | 79.69 | $13,200 | 99.61 | 116.4 | $113 |
| Fayette | 03/04/2025 | 40.00 | $440,000 | $11,000 | 39.76 | $11,066 | 99.40 | 111.0 | $99 |
| Fayette | 03/04/2025 | 40.00 | $528,000 | $13,200 | 38.8 | $13,608 | 97.00 | 118.1 | $112 |
| LaSalle | 03/04/2025 | 74.93 | $524,510 | $7,000 | 70.04 | $7,489 | 93.47 | 112.6 | $62 |
| Kankakee | 03/05/2025 | 85.11 | $1,021,320 | $12,000 | 85.11 | $12,000 | 100.00 | 123.6 | $97 |
| Grundy | 03/05/2025 | 120.00 | $1,584,000 | $13,200 | 118.03 | $13,420 | 98.36 | 126.0 | $105 |
| Grundy | 03/05/2025 | 120.00 | $2,052,000 | $17,100 | 117.47 | $17,468 | 97.89 | 126.1 | $136 |
| Kankakee | 03/05/2025 | 81.76 | $981,120 | $12,000 | 79.55 | $12,333 | 97.30 | 126.7 | $95 |
| Shelby | 03/05/2025 | 41.58 | $769,230 | $18,500 | 40.42 | $19,031 | 97.21 | 144.0 | $128 |
| Kankakee | 03/05/2025 | 81.52 | $978,240 | $12,000 | 78.06 | $12,532 | 95.76 | 125.4 | $96 |
| Livingston | 03/05/2025 | 41.78 | $576,564 | $13,800 | 39.59 | $14,563 | 94.76 | 129.9 | $106 |
| Cass | 03/06/2025 | 97.49 | $1,433,103 | $14,700 | 90.51 | $15,834 | 92.84 | 135.3 | $109 |
| Marshall | 03/10/2025 | 62.00 | $781,250 | $12,601 | 61 | $12,807 | 98.39 | 129.8 | $97 |
| Madison | 03/11/2025 | 77.89 | $1,807,048 | $23,200 | 77.36 | $23,359 | 99.32 | 133.7 | $174 |
| Brown | 03/11/2025 | 80.00 | $1,252,000 | $15,650 | 76.37 | $16,394 | 95.46 | 127.6 | $123 |
| McLean | 03/13/2025 | 160.00 | $1,888,000 | $11,800 | 155.87 | $12,113 | 97.42 | 122.5 | $96 |
| Montgomery | 03/13/2025 | 78.00 | $892,320 | $11,440 | 75 | $11,898 | 96.15 | 109.3 | $105 |
| Montgomery | 03/13/2025 | 23.40 | $318,136 | $13,596 | 21 | $15,149 | 89.74 | 114.2 | $119 |
| Montgomery | 03/13/2025 | 8.00 | $84,864 | $10,608 | 7 | $12,123 | 87.50 | 106.5 | $100 |
| Hamilton | 03/13/2025 | 25.15 | $176,000 | $7,040 | 21.90 | $8,037 | 87.08 | 112.1 | $63 |
| Shelby | 03/18/2025 | 10.00 | $119,700 | $11,970 | 9.81 | $12,202 | 98.10 | 140.9 | $85 |
| Schuyler | 03/19/2025 | 26.51 | $164,362 | $6,200 | 22 | $7,471 | 82.99 | 114.3 | $54 |
| LaSalle | 03/24/2025 | 27.04 | $411,008 | $15,200 | 27 | $15,223 | 99.85 | 141.6 | $107 |
| Bureau | 03/25/2025 | 38.52 | $504,612 | $13,100 | 38.45 | $13,124 | 99.82 | 124.6 | $105 |
| Marshall | 03/25/2025 | 38.62 | $378,476 | $9,800 | 37.3 | $10,147 | 96.58 | 120.6 | $81 |
| Bureau | 03/25/2025 | 78.69 | $731,817 | $9,300 | 75.09 | $9,746 | 95.43 | 112.7 | $83 |
| Livingston | 03/27/2025 | 64.50 | $603,075 | $9,350 | 63 | $9,573 | 97.67 | 109.2 | $86 |
| Henderson | 03/28/2025 | 87.00 | $1,444,200 | $16,600 | 77 | $18,756 | 88.51 | 140.8 | $118 |
| Averages/Totals | 1,789.49 | $23,496,863 | $12,684 | 1,722.18 | $13,238 | 95.49 | 123.4 | $102 |
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.