is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist

Champaign County, Illinois, farmland draws $15,375/acre

Farmland prices haven't softened in Champaign County, Illinois. It was thought that a new record for farmland prices in the county was reached this week when $15,375/acre price was paid for a 173-acre farm.

These higher prices follow the predictions offered by farm real estate experts in our December Buyer's Forecast 2013 for farmland.

Closer look: Read the 2013 Buyer's Forecast for farmland prices.

The real estate firm handling the sale was Murray Wise Associates, headquartered in Champaign, Ill. “This is the first time I've seen farmland prices without development potential exceed $15,000 per acre in Champaign County,” reported Joe Bubon, executive vice president.

Bubon said the land was offered in three tracts but eventually sold in its entirety to a local, single buyer group made up of two farmers and an investor.

“We had a good mix of farmers and local investors,” Bubon explained. “Farmers were a major factor in this auction because it makes sense to purchase this and integrate it into their existing operations.”

The properties were located off County Road 1400 North, approximately two miles east of Urbana.

For more information about Murray Wise Associates, call 800/607-6888 or visit murraywiseassociates.com.

 

Like what you’re reading? Subscribe to Farm Industry News Now e-newsletter to get the latest news and more straight to your inbox twice weekly.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish