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Take a look at the farmland transactions that took place during March and April 2024 across the Midwest. Prices ranged from $13,800 to $21,000 per acre.
77.48 acres in Grundy County, Iowa
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Date: March 20, 2024
Sale price: $18,550 per acre
Corn Suitability Rating Index (CSR2): 96.1
Three tracts of highly tillable central Iowa cropland, roughly halfway between Marshalltown and Waterloo, were sold at public auction. Tract 1 was 77.48 acres and was 98% tillable. Tract 2 consisted of 74.66 acres that carried a CSR2 rating of 96.7 and was 99% tillable. Tract 3 was 77.81 acres and was 91% tillable, with a CSR2 rating of 93.6. Tract 1 sold for $18,550 per acre. Tract 2 sold for $17,500 per acre. Tract 3 sold for $15,000 per acre. There was a buyer’s premium on the sale, so $7,500 was added to the final sale price of each tract, bringing the sale total to $3,933,454.
62.65 acres in Dane County, Wisconsin
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Date: March 27, 2024
Price: $13,800 per acre
Five tracts 15 miles southeast of Madison were sold at public auction. Tract 1 consisted of 55.87 acres, with an estimated 47.33 tillable, and sold for $13,100 per acre. Tract 2 consisted of 62.65 acres, 38.92 tillable, and the balance in timber. It sold for $13,800 per acre. Tract 3 consisted of 83 acres, with approximately 48.12 tillable, with the balance of the tract in timber. It sold for $12,250 per acre. Tract 4 consisted of 40 acres, 27 tillable, and sold for $11,200 per acre. Tract 5 was 9.93 acres, with 4.93 tillable, and sold for $17,500 per acre.
40 acres in Montgomery County, Illinois
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Date: April 11, 2024
Price: $16,400 per acre
Soil rating: 110.1
Six tracts of west-central Illinois land, about 65 miles northeast of St. Louis, Missouri, were sold via the buyer’s choice method. Of the six, Tracts 1 to 3 stood out the most. Tract 1 consisted of 40 acres, 39.95 tillable. Tract 2 consisted of 79.24 acres, with 77.91 tillable, and a soil rating of 109.9. Tract 3 consisted of 40 acres, with 39.80 tillable, and a soil rating of 107.1. All three tracts sold for $16,400 per acre, or $149, $152, and $154 per soil point, respectively.
55.77 acres in Lincoln County, South Dakota
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Date: April 15, 2024
Price: $21,000 per acre
Soil rating: 85.2
Located southeast of Sioux Falls, South Dakota, along the Iowa-South Dakota border, 55.77 acres were sold at public auction. The tract consisted of 54.74 tillable acres. It sold for $21,000 per acre for a total sale price of $1,171,170, or $251 per point.
