Land Watch Illinois (2024)

FAQs

How much does 1 acre of land cost in Illinois? ›

Typical per acre pricing range: $7,500 - $12,000

Quality tillable soil composition and irrigation potential helps boost farmland value in counties like Hanco*ck, Henry and Bureau compared to inconsistent crop yields and relatively remote Sangamon/Menard tracts warranting slight valuation dips by comparison.

There are several potential benefits that make Illinois land attractive to investors: Appreciation - As noted above, real estate values have consistently risen over the long term in Illinois, outpacing national averages in many markets. Owners can build equity as their land increases in value over time.

Recent listings in Illinois of recreational land and property for sale totaled nearly 100,000 acres acres of recreational land and property and a combined market value of $189 million. The average price of recreational land and property for sale in Illinois was $575,561.

Illinois has many categories of land ownership, and each may have advantages or disadvantages depending on your situation. The most common types of real estate ownership are 1) Individually, 2) Tenants in Common, 3) Joint Tenants, 4) Tenants by the Entirety, and 5) in a Trust.

The cheapest land in the United States is located in New Mexico, Arizona, Michigan, Colorado, and Texas. However, it's important to note that the price per acre of a piece of property is dependent on several factors, including location and the type of land.

The current average per acre price for land in Illinois according to these January sales is $12,097/acre. The highest selling farm in Illinois in the month of Januray 2024 sold on January 30th in Champaign County for $2,775,986 or $17,040 per acre for 162.9 acres, with a PI of 139.6.

In Illinois, Chinese investors own only about one square mile of land, while Portuguese, Italian, and Canadian interests hold over 760 square miles combined. Foreign investors own, or partly own, about a third of the land in central Illinois' McLean County.

Higher Resale Value

When deciding whether to buy a land vs. house for investment, it is important to consider its potential for its higher resale value. On this note, it is necessary to keep in mind that a plot of land is typically easier to sell than a home.

The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2023 at $259 per acre, up by $16 per acre from the 2022 level of $243 per acre (see Figure 1).

How much recreational can you buy in Illinois per day? ›

Illinois ranks 46th in the nation for publicly-owned land with more than 97% of land in private ownership.

To qualify for the Illinois homestead exemption, you must live in the state for at least 730 days. If you have not lived in the state for at least this long, you will be required to use the exemptions from the state where you previously lived.

The current average per acre price for land in Illinois according to these December sales is $13,349/acre. The highest selling farm in Illinois in the month of December 2023 sold on December 8th in Champaign County for $3,314,580 or $14,226 per acre for 233 acres, with a PI of 143.1.

Resident landowners or tenants (including those leasing land) of land of 39.5 acres or more can apply for free firearm or archery deer permits. Permits are a combination of one either-sex permit and one antlerless permit.

Between 2022 and 2023, inflation-adjusted U.S. average cropland values rose by 4.6 percent to $5,460 per acre compared to 1.2 percent per year over the previous five years (2017 to 2022), while average pastureland values rose by 3.2 percent to $1,760 per acre compared to 1.0 percent per year over the previous five ...

The combined market value of hunting land for sale in Illinois is $151 million, with the average price of hunting land for sale in being $567,965. Illinois is characterized by a diverse landscape that includes rolling hills, vast prairies, and fertile farmland.

Federal land is managed for many purposes, such as the conservation and development of natural resources, grazing and recreation. The federal government owns 1.14 percent of Illinois's total land, 406,734 acres out of 35,795,200 total acres. Illinois ranked 38th in the nation in federal land ownership.

The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2023 at $259 per acre, up by $16 per acre from the 2022 level of $243 per acre (see Figure 1).