Illinois Farmland Prices Fall, Especially in the East
A land-managers' organization says farmland prices fell across much of Illinois in 2014 but more sharply in the eastern part of the state than other areas.
An annual survey conducted by the Illinois Society of Professional Farm Managers and Rural Appraisers found prices across most of the state ranged from stable to down by about 5 percent. But according to The News-Gazette in Champaign, prices in a seven-county area of eastern Illinois fell by up to 10 percent.
That area includes Champaign, Vermilion, Douglas, Ford, Iroquois, Edgar and Coles counties.
According to the report that accompanied the survey, bidders on farmland were less aggressive in 2014 because of lower prices on corn and soybeans.
Even with decreases, 2014's highest farmland prices hit $15,000 an acre in eastern Illinois.