Strong demand for high quality farmland delivers top-end price for Illinois farm

CARTHAGE, Ill. — Despite rising interest rates and continued economic uncertainty, high-quality tillable properties in Illinois continue to see strong demand.

That was the result for a recent farm auction in eastern Hancock County, which sold for an upper-range price of $17,000 per acre.

The result exceeded an anticipated price of about $14,500 an acre, according to Tyler Sellens, a land specialist for Illinois-based Whitetail Properties Real Estate, which marketed and conducted the auction through its Ranch and Farm Auctions division.

The Walton Trust Farm, a corn and soybean operation, was auctioned in three tracts that totaled 113 acres.

“Available good quality farm ground is hard to come by in this area, which means sellers have the opportunity to realize high value for their property,” Sellens said.

Sellens also attributed the high sales price to the farm’s productive soil, current strong commodity prices and the live auction format.

“Live auctions create excitement in the market and offer fast-paced, competitive bidding that can often push sales prices above perceived market value,” he noted.

Participants unable to attend the live auction, held at the Eagles Club in Carthage, could also bid online or by phone.

“The auction drew a lot of buyer interest from area farmers looking to expand their operations, as well as investors” Sellens said. “The high bidder was an investor.”

For more information, visit www.ranchandfarmauctions.com.