Unlocking the Value of Illinois Farmland: A Comprehensive Guide to Current Land Prices and Expert Insights - May 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 May 2025, a total of 522 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 May sales is $12,825/acre for farmland in Illinois counties.
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- The current average price per TILLABLE acre is $13,649/tillable acre
• The highest-selling farm in Illinois in May was a 47.94-acre property in Ford County, IL which sold for $18,200 per acre, totaling $872,508. This farm is 96% tillable with a 131.8 PI rating, equating to $138 per PI, and is located Northeast of Piper City, 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
May 2025 Rural Mainstreet Index Highlights
Farmland values across the Midwest continue to decline, with the Rural Mainstreet Index (RMI) staying below growth neutral for the 20th time in 21 months. Farmland prices specifically fell below growth neutral for the 12th time in 13 months, dropping to an index of 39.6. Elevated interest rates, high input costs, and tariff volatility are key pressures. Most bankers (68%) cite lower ag commodity prices as the top threat to farming profitability, followed by rising tariffs. Agricultural exports are also down 19.3% year-over-year, further straining rural economies. Confidence among rural bankers remains low, and only 8% are optimistic about farmland prices in 2025.
Illinois Snapshot
Illinois’ May Rural Mainstreet Index (RMI) rose slightly to 37.6, up from 34.6 in April, indicating ongoing economic weakness in rural areas. Farmland values continued to decline, with the farmland price index dropping to 37.9 from 39.8. However, hiring activity showed improvement, with the employment index increasing to 48.6 from 41.2. Agricultural exports saw a steep decline—falling by $544.3 million (down 41.1%) in Q1 2025 compared to the same period in 2024. China was the state’s largest ag export destination, making up 24.0% of total Q1 exports.
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
Take a look at the graph below for a year-long view of Illinois farmland prices. In May, the average price per acre dropped to $12,825, likely influenced by a lower number of sales and acres sold. These figures reflect farms that are at least 80% tillable.
One year ago, the average stood at $10,928/acre, while the current 12-month rolling average is $13,252/acre—a more stable indicator of market trends than this month’s snapshot.
If you’re thinking about selling, reach out for a professional assessment of your farm’s current market value.
Number of Acres Sold Per Month – 80% or more Tillable Farms
Farmland sales volume in May totaled 522.27 acres—nearly unchanged from the previous month but notably lower than the 1,576.8 acres sold in May of last year. A seasonal slowdown during spring and early summer is common, as planting takes priority for many landowners. Activity typically begins to ramp back up in August.
If you’re considering selling farmland, now is a great time to start the conversation. Fill out our quick form to get connected with one of our experienced auctioneers or land brokers—we’re here to guide you through every step of the process.
Monthly Illinois Auction Results: Average Price Per PI Point
The price per Productivity Index (PI) point dropped by $9 from April to May, landing at $107/PI. This compares to last year’s average of $100/PI. The current 12-month rolling average is $105.87/PI, which offers a more stable indicator of land values than this month’s figure, which may be impacted by a lower volume of auction sales.
In Illinois, the PI rating is a key metric in determining farmland value. If you’re unsure of your farm’s PI rating, contact us for a complimentary soil map and property evaluation—especially if you’re considering a sale.
Livingston County, Illinois Farmland Auction Results
DreamDirt Farm & Land Auctions recently sold 69.63 acres of high-quality, 100% tillable farmland near Ancona in Livingston County for an impressive $17,100 per acre. Located just south of Streator, Illinois, the property boasts a 137.1 Productivity Index (PI), translating to $124.70 per PI point—a strong market result that exceeded the seller’s expectations.
Looking to sell farmland? Contact Auctioneer Rachel Tiffany at 515-954-8063 or [email protected] to explore upcoming auction opportunities.
RECENT FARMLAND SALES IN ILLINOIS
| County | Date Sold | Total Acres | Total Price | $/Acre | Tillable Acres | $/Tillable Acre | % Tillable | PI | $/PI |
|---|---|---|---|---|---|---|---|---|---|
| Perry | 05/20/2025 | 35.57 | $295,231 | $8,300 | 32 | $9,225.97 | 89.96 | 106.1 | $78 |
| Perry | 05/20/2025 | 35.67 | $296,061 | $8,300 | 33 | $8,971.55 | 92.51 | 99.6 | $83 |
| Perry | 05/20/2025 | 13.55 | $145,663 | $10,750 | 11.55 | $12,611.47 | 85.24 | 89.9 | $120 |
| Perry | 05/20/2025 | 20.00 | $150,000 | $7,500 | 18.04 | $8,314.86 | 90.20 | 84.5 | $89 |
| Perry | 05/20/2025 | 31.43 | $254,583 | $8,100 | 29.62 | $8,594.97 | 94.24 | 107.1 | $76 |
| Ford | 05/14/2025 | 47.94 | $872,508 | $18,200 | 46.33 | $18,832.46 | 96.64 | 131.8 | $138 |
| Livingston | 05/14/2025 | 69.63 | $1,190,673 | $17,100 | 69.63 | $17,100.00 | 100.00 | 137.1 | $125 |
| Logan | 05/06/2025 | 71.33 | $1,176,945 | $16,500 | 65.00 | $18,106.85 | 91.13 | 140.2 | $118 |
| Logan | 05/06/2025 | 155.68 | $2,568,720 | $16,500 | 150.00 | $17,124.80 | 96.35 | 138.8 | $119 |
| Woodford | 05/03/2025 | 41.47 | $704,990 | $17,000 | 40.02 | $17,615.94 | 96.50 | 139.5 | $122 |
| Averages/Totals | 522.27 | $7,655,374 | $12,825 | 495.19 | $13,649.89 | 93.28 | 117.5 | $107 |
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.