Illinois farmland values “off the peak” – Voice Of Muscatine

Illinois farmland values “off the peak”

Average values for the most productive cropland in Illinois have risen nearly $6,000 an acre in two and a half years.

Compeer Financial certified appraiser Ethan Koch says his benchmark for highly tillable top-quality ground was $15,400 in July of 2021.

“And as of February 1st of 2024, that benchmark is at $21,300. So that’s been a 38 percent increase, but it’s important to note it is off the peak.”

He tells Brownfield the farmland market in Illinois peaked at $23,000 an acre last spring.

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