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Mar. 9, 2012 LandOwner newsletter reports: Central Illinois saw the price of quality farmland move to a new plateau February 21 when 159.8 acres of McLean County cropland sold for a record $14,100 per acre. The land is located six miles west of Bloomington along Illinois 9 and featured 157 billable acres. It had 77.5 farm program corn base acres with a direct yield of 121 bu. per acre and 76.3 soybean base acres with a farm program direct yield of 37 bu. per acre. It sported a Productivity Index of 139.3 (147 maximum) and maintained high fertility levels. The farm also had two grain bins with a dryer, a machine shed and crib. "It is prime ground and it doesn't take water from anyone," auctioneer Wally Yoder, Soy Capital Services, Bloomington, told LandOwner ahead of the sale. "More than 120 people attended the auction with 53 registered bidders and several active bidders above $12,000 an acre," says Soy Capital's Managing Broker David Klein. "We have seen other auctions that have two bidders take a certain tract above that level, but this was a unique farm with desirable characteristics in a tightly held area of western McLean County. In March 2006 we sold the farm across the road for a record price at that time as well - $6,000 per acre," he observes. The farm was purchased by an investor. Tweet |
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