Source: Illinois Society of Professional Farm Managers and Rural Appraisers
A new report indicates that farmland values in Illinois remained steady throughout 2009, according to the Illinois Society of Professional Farm Managers and Rural Appraisers. Limited amounts of land for sale, along with current returns and the safety of farmland as an investment, helped keep farmland values steady. The new report was issued at the Illinois Land Values Conference.
"There is a limited amount of land for sale," said Bob Swires, AFM, Swires Land and Management, Danville, Ill., and overall chairman of the annual survey and conference. "For example, there were 11,000 acres sold in northwest Illinois in 2008. That compares to only 5,900 acres sold in the same region in 2009."