BLOOMINGTON – Farmers and landowners will get a snapshot of land values in the state during next week’s Land Values and Lease Trends Conference from the Illinois Society of Professional Farm Managers and Rural Appraisers.
The event, supported by the Realtor’s Land Institute and University of Illinois, will be held at the DoubleTree Hotel and Conference Center in Bloomington starting at 8 a.m.
Dave Klein, First Mid Ag Services managing broker, has noticed strong and soft land sales in recent months.
“The western side of the state is just extremely strong with a lot of $12,000 or $13,000 Class A farmland sales,” Klein said.
According to Klein, the middle part of the state is “treading water” around $10,500 for the best ground with less for lower quality soils. A softer trend has been observed in the eastern part of the state where Class A ground has sold in the upper $9,000 range.
We will likely see pockets in Illinois with strength this year where there is tightly held land and strong yields.
“We’ve got areas that are going to be strong and there are going to be areas that are soft,” Klein adds.
The amount of land available for sale could have a large price impact as supply could lead to softer prices in some areas. Expect this and other topics to come up at the upcoming land conference.
“We’ll talk a little about wind and solar leases and what kind of value those bring.”
The much-anticipated ISPFMRA annual report will be released at the conference which includes the results from 70 different professionals from across the state who have collected data. This features insights from reach region of Illinois.
More information can be found at www.ispfmra.org or by contacting Klein at 309-665-0961.