Here’s a quick look at three farmland transactions that transpired in summer 2024 in Illinois and Iowa.
73.49 acres in Bureau and Stark County, Illinois
Price: $17,200 per acre
Date: July 25, 2024
Productivity Index: 141
Twelve tracts totaling 856.59 acres in north-central Illinois were sold using the buyer’s choice auction method. All tracts were highly tillable, with more than 500 acres classified as class-A soils. Leading the auction was Tract 1, in which 73.49 acres sold for $17,200 per acre. The auction concluded with a total sale price of $12.39 million.
465.73 acres in Jefferson County, Iowa
Price: $3.96 million
Date: July 17, 2024
A total of 465.73 acres just outside the southeast Iowa town of Pleasant Plain were sold at a public auction. The property was divided into seven diverse tracts, ranging from quality tillable cropland to parcels enrolled in the Conservation Reserve Program. The final sale price was an impressive $3.96 million.
121.1 acres in Polk County, Iowa
Price: $4.46 million
Date: Aug. 1, 2024
A 121.1-acre parcel of transitional development land, designated in Ankeny’s 2040 Future Land Use Plan, was sold through a buyer’s choice auction in three separate tracts. With the Des Moines northern suburb experiencing rapid growth and a projected population of 140,000 by 2040, Tract 2 and Tract 3 sold for $38,000 per acre, while Tract 1 sold for $28,000 per acre. The total sale price was $4.46 million.
