Whether it is hunting and recreational, ranch and farm, waterfront, or timberland, the prices of land are on the rise locally and across the country. Whitetail Properties Real Estate Agent for West Central Illinois Brent Reneau says a variety of factors are leading into the $4,000 to $5,000 an acre hunting and recreational land and the $13,000 to $20,000 an acre ranch and farm ground:
“A lot of variables go into that. If it is a typical Midwestern type wooded property, you are probably in the upper $4,000 to mid $5,000 per acre. Now there is going to be a lot of variables in that; what kind of timber value does it have, does it have a building site, does it have great access via road frontages, are there utilities available, is there a pond, is there a creek, is there a place for food plots. It is very dependent on the particular property. We are seeing a lot of flat black, 100% tillable properties range anywhere from $13,000 up to $20,000 an acre here. If you go across the river into Iowa, you are seeing some auctions go $20,000 and above. It goes back to what the property has to offer. It goes back to the soils and the drainage and what the last landowner has done and how they managed that farm.”
As input costs have risen and with the current commodity prices, Reneau states it is difficult to determine how the prices of land will react, hold steady or continue to rise in price.
