Another Record Broken for Illinois Farmland Sale

By CnAgri2012-08-20 19:49:41 Print

As the drought has extended, so have worries about a collapse in the price of farmland.

But according to the Landowner newsletter, the August 9 farmland sale in Christian County, Illinois, saw 163 acres of prime farmland located west of Assumption sell for a record $15,600 an acre. The buyer is a neighboring farmer.

The property offered 158.5 tillable acres and an average soil productivity rating of 133.1.

Handling the offering was Bruce Huber with Schroeder/Huber LLC, Decatur. William Beck Auction and Realty, Edinburg, co-brokered the sale and "cried" the auction.

Huber says there were about 145 people at the auction with 12 registered bidders. The opening bid was $10,000 and the auction was over in under 15 minutes.