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Take a look at the farmland transactions that took place during April and May 2024 across the Midwest. Prices ranged from $6,950 to $2 million per acre.
21.2 acres in Polk County, Iowa
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Date: May 16, 2024
Price: $2 million
Located five miles west of the Prairie Meadows horse racetrack, northeast of Des Moines, a 21.2-acre equestrian ranch sold. The property consisted of multiple top-notch equestrian facilities and a 2,065-square-foot home. The facilities included two smaller machine sheds, an outdoor arena, and a large stable, with an indoor arena. This property sold for $2 million.
22.96 acres in Sioux County, Iowa
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Date: April 30, 2024
Price: $29,800 per acre
Corn Suitability Rating Index (CSR2): 99.1
Two tracts north of Sioux City, Iowa, sold at auction. Tract 1 consisted of a 7.65-acre cattle feedlot; included were multiple cattle sheds and outbuildings. Tract 2 consisted of 22.96 acres around the feedlot, with 22.91 acres tillable. Tract 1 sold for a lump sum $620,000, and Tract 2 sold for $29,800 per acre, for a total of $684,208.
64.36 acres in Adams County, Illinois
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Date: May 13, 2024
Price: $19,200 per acre
Productivity Index (PI): 136.5
Three tracts, totaling 127.89 acres northwest of St. Louis, Missouri, sold at public auction. Tract 1 was the most notable, consisting of 64.36 acres, with 63.74 FSA cropland acres. The cropland consisted of Timewell and Virden soils. It sold for $19,200 per acre for a total sale price of $1,235,712.
81.52 acres in Pike County, Illinois
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Date: May 23, 2024
Price: $19,100 per acre
PI: 138
Two tracts located two miles southeast of Milton, in west-central Illinois, were sold via buyer’s choice auction. Tract 1 consisted of 47.68 acres with a PI value of 137, and Tract 2 consisted of 81.52 acres. Both tracts were nearly 100% tillable. Tract 1 sold for $18,100 per acre, and Tract 2 sold for $19,100 per acre, for a total sale price of $2,420,040.
80 acres in Webster County, Iowa
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Date: May 29, 2024
Price: $14,800 per acre
CSR2: 70.9
Located three miles northeast of Dayton in central Iowa, an individual 80-acre tract sold at public auction. This farm consisted of 79.06 Farm Service Agency (FSA) cropland acres. The primary soil types were Marna silty clay loam and Nicollet-Guckeen complex. It sold for $14,800 per acre for a final sale price of $1,184,000 or $211 per CSR2 point.
122 acres in Fayette County, Illinois
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Date: April 17, 2024
Price: $6,950
PI: 131
Six tracts east of St. Louis, Missouri, totaling 797.98 acres, went to auction. All tracts included hunting opportunities. Tracts 1 and 5 consisted of 90 acres and 32 acres, respectively, and sold at the lot’s highest price: $6,950 per acre. Both tracts were around 80% tillable. The remainder of the tracts included more timber. Sale prices ranged from $3,950 to $6,600 per acre. The six tracts sold for a combined $4,589,348.
