HomeFarm NewsIllinois farmland values up 18%, cash rents continue to soarIllinois farmland values up 18%, cash rents continue to soarWed, August 31, 2022 by Brownfield Ag NewsSHARE NOW brownfieldagnews.comIllinois farmland prices are up an average of 18% from a year ago.“Over the last 18 months, certain classifications of land have gone up 40-45% in value.”Luke Worrell with the Illinois Society of Professional Farm Managers and Rural Appraisers tells Brownfield a recent survey of their members showed 56% believe land prices have plateaued, but recent sales near his home in Jacksonville, “suggest that we are indeed still very strong, if not just a little bit higher.”He says in the last 18 months cash rents have also jumped 25% and are projected to increase as much as $17 per acre in 2023.…Illinois farmland values up 18%, cash rents continue to soar
