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Aug. 26, 2024 by Holly Spangler, Prairie Farmer magazine Who is the biggest absentee farmland owner in Illinois? That's the question Michael Lauher set out to answer recently. Lauher is incoming president of the Illinois Society of Professional Farm Managers and Rural Appraisers, and he's also assistant vice president and farm manager at First Mid Ag Services, Mattoon, Ill. He authors the Land Values column for Prairie Farmer and ISPFMRA. Lauher dove into data from county assessors, using a service that aggregates available online data; then he searched by name or tax bill location. In all, Lauher tracked the Illinois land holdings of 47 organizations and individuals. He grouped data into regions that ISPFMRA uses when reporting land values and lease trends. One caveat: This data represents what Lauher was able to capture, based on the information he could find. The big result? The Church of Jesus Christ of Latter-day Saints owns 53,977 acres in Illinois, primarily in central Illinois but extending into northern Illinois, as well. Farmland Partners comes in second with 38,299 acres, with the Scully family close on its heels at 35,767 acres. Bill Gates is a distant sixth place, with 17,103 acres in Illinois. What does this mean for Illinois agriculture? Lauher believes it's good news. "The financial and investment market has finally recognized what a good investment farmland is. We've obviously seen a lot of money enter into the market," he says. In total, the top 10 absentee farmland owners in Illinois hold 246,944 acres out of 26.3 million acres of total farmland -- 1%. Lauher emphasizes that farmers are still the largest owners and buyers of Illinois farmland, but it's more distributed and not consolidated into big ownerships. "That means the majority of farmland is owned by farmers and will continue to be for generations to come," he adds. Illinois has a long history of absentee farmland ownership, with 56% of the land owned by someone who does not farm it, according to the 2022 Census of Agriculture. That compares to 50% in Iowa, 52% in Indiana and 39% nationwide. So, who are the 10 largest absentee landowners in Illinois? 1. The Church of Jesus Christ of Latter-day Saints. 2. Farmland Partners. 3. Scully family. 4. Lawrence family. 5. University of Illinois and University of Illinois Foundation. To read the entire article click here. Tweet |
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