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Take a look at five farmland transactions that took place from January to March 2024 across the Midwest. Prices ranged from $7,000 to $16,250 per acre.
117.41 acres in Sioux County, Iowa
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Date: Feb. 27, 2024
Sale price: $29,600
Corn Suitability Rating Index (CSR2): 99.7 and 99.1
Selling via the buyer’s choice auction method, 117.41 acres in two separate tracts were sold near Orange City, Iowa. Tract 1 consisted of 40 acres, with 39.50 tillable acres. Tract 2 consisted of 77.41 acres, with 76.44 tillable acres. Both tracts sold for $29,600 per acre for a total price of about $3.5 million. That came out to $301 per point for Tract 1, and $302 per point for Tract 2.
Both tracts had easements with Summit Carbon Solutions, a carbon pipeline company.
74.47 acres in Sioux County, Iowa
Date: March 7, 2024
Sale price: $27,750
CSR2: 94.5
Five tracts located near Sioux Center, Iowa, were sold at public auction. Tract 1 consisted of 74.47 acres with 71.30 tillable acres. It was sold on an individual basis and brought $27,750 per acre for a total of about $2.1 million. Tracts 2, 3, and 4 were sold via the buyer’s choice auction method. All three tracts sold for $18,700 per acre for a combined total price of about $3.7 million. Tract 5 was sold on an individual basis for $15,200 per acre for a total of about $1.2 million.
79.87 acres in Hancock County, Illinois
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Date: Jan. 30, 2024
Sale price: $21,400
Soil rating: 145.5
Four tracts of Illinois farmland were sold. Tracts 1, 2, and 3 were located 3½ miles west of Colusa, Illinois, and Tract 4 was located 4 miles west of Adrian, Illinois. Tract 1 was 100% tillable, with 79.87 acres. It sold for $21,400 per acre for a total of about $1.7 million. Tracts 2 and 3 both boasted productivity index values in the 140s and consisted of 82.93 acres and 86.08 acres, respectively. They each sold for $17,200 per acre. Tract 4 was 41.90 acres, with 38 tillable acres, and sold for $13,500 per acre.
80 acres in Sioux County, Iowa
Date: Feb. 23,2024
Sale price: $20,300
CSR2: 98.8
Located 7 miles southwest of Sheldon, Iowa, 80 acres were sold at public auction. The tract was 97% tillable and consisted of 77.24 tillable acres. It sold for $20,300 per acre for a total of roughly $1.6 million or $213 per point.
153.93 acres in Dodge County, Minnesota
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Date: Feb. 23, 2024
Sale price: $16,100
Five tracts northwest of Dodge Center, Minnesota, sold at public auction. Of the five tracts, Tracts 1, 2, and 3 stood out the most: Tract 1 consisted of 153.93 acres, with 148.42 tillable acres, and sold for $16,100 per acre. Tract 2 consisted of 40.25 acres, with 39.64 tillable acres, and sold for $15,650 per acre. Tract 3 consisted of 160 acres, with 148.42 tillable acres, and sold for $14,400 per acre.
94.65 acres in Walworth County, Wisconsin
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Date: Feb. 21, 2024
Sale price: $11,300
Soil rating: 84.3
Located near Elkhorn, Wisconsin, 94.65 acres were sold at public auction. The tract consisted of 92.5 cropland acres. A subtransmission line ran through the property. The tract sold for $11,300 per acre for a total of roughly $1.1 million.
Produced in partnership with American Farmland Owner (AFO). AFO aims to help landowners make informed decisions for their farmland while ensuring the prosperity of American agriculture.
