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Illinois Farmland Values Rise Again in 2012

The prices being paid for farmland across Illinois continue their upward spiral with the tops being in the $10,000 to $13,000 per acre range across the state. This is according to the 2012 Farmland Values and Lease Trends Report released today by the Illinois Society of Professional Farm Managers and Rural Appraisers at its annual Land Values Conference.

The top price of $13,000 per acre was for a November 2011 sale of 37.7 acres in Christian County. The property was listed as having Excellent quality land. Sales in the $10,000 per acre range were common across a number of regions in the state.

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Panel to Address Types and Trends in Farmland Leases

Trends and types of current farmland lease models will be the subject of a panel discussion during the 2012 Illinois Land Values Conference to be held March 22 at the Parke Hotel and Conference Center here. The event is being sponsored by the Illinois Society of Professional Farm Managers and Rural Appraisers.

“The continuing rise in the cost of productive farmland, along with the volatility in the prices being paid for commodities, has resulted in some real creativity in the types of farmland rents and leases that are being drawn up between land owners and tenants,” says Don McCabe, AFM, overall chairman of the annual Land Values project put on by the Society. “We know there is a tremendous amount of interest in what’s being paid across the fence and down the road, so we’ve put together a group of professional farm managers who will address the subject during this year’s conference,” he says.

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