How to Size Up Illinois’s Land Market in 2026

Illinois land continues to attract farmers, investors, and developers because it combines scale, productivity, and long-term demand drivers. Illinois spans more than 55 million acres of land area, and much of it supports row-crop agriculture—particularly corn and soybeans that anchor rural economies and shape land pricing across the state. At the same time, the “Illinois land market” is not one market: prime Central Illinois cropland behaves very differently from marginal ground, recreational tracts, or small residential and commercial parcels.

Overview of Illinois Geography and What It Means for Land Value

Illinois stretches from the Mississippi River to Lake Michigan and includes flat prairies, rolling hills, and more rugged terrain near the southern tip where the state meets the Ozark Plateau. Major metros and regional hubs—especially the Chicago area—create development pressure and infrastructure advantages that can lift land values well beyond agricultural fundamentals.

Climate and soils vary widely, affecting both farm productivity and alternative uses. Central Illinois is known for deep, high-performing soils, while other regions include more clay, loam, and sandy profiles that can influence drainage, input costs, and yields. These on-the-ground differences are why “comparable sales” and local productivity data matter so much when valuing a property.

Primary Uses for Illinois Land

The most common land uses in Illinois fall into three buckets: agriculture, conservation/recreation, and development. The highest and best use for a parcel—what the market will pay for most—often comes down to location, access, utilities, zoning, and income potential.

• Agriculture: Illinois remains a cornerstone row-crop state, and cropland value is closely tied to soil quality, drainage, field shape, road access, and local basis. Market expectations for crop revenue also matter; for example, projected pricing can shift buyer sentiment and rental negotiations. For 2025, corn is projected at $4.10 per bushel and soybeans at $10.20 per bushel according to farmdoc daily, University of Illinois. Yield outlooks feed into that revenue picture as well; University of Illinois Extension projects a 2026 Central Illinois corn yield of 241 bushels per acre.
• Conservation and recreation: Timber, wetlands, prairie remnants, and habitat tracts can command premiums when they offer hunting, trail access, or adjacency to protected areas. Value is driven by habitat quality, timber potential, access, and distance to population centers.
• Residential and commercial development: Parcels near expanding suburbs, interstates, and job centers may price off development feasibility rather than farm income. Zoning, utility availability, environmental constraints, and entitlement timelines can dramatically alter value.

Key Factors That Influence Illinois Land Prices

Illinois land prices typically move based on a blend of agricultural earning power and non-farm demand. Buyers and sellers can evaluate land more accurately by focusing on these core drivers:

• Location and access: Proximity to Chicago and other urban centers increases demand for development, hobby farms, and long-term hold strategies. Road frontage, field entrances, and proximity to grain facilities also influence agricultural pricing.
• Soil productivity and drainage: High-productivity soils and well-managed drainage systems tend to command the strongest per-acre pricing, especially in Central Illinois.
• Commodity price expectations: Even when a farm isn’t sold purely on an income approach, expected corn and soybean prices shape what farmers can afford and what investors underwrite.
• Supply, demand, and investor participation: When fewer quality tracts come to market, competition increases—particularly for “A-grade” farms. Conversely, softer transaction volume can signal a more selective buyer pool.
• Development potential: Parcels with utilities, zoning compatibility, and strong traffic counts can price far above surrounding farmland.

Illinois Farmland Value Trends (2024–2025 Data)

Recent statewide pricing data suggests farmland values have stayed resilient even as transaction volume cooled. According to WMG Auction, the average Illinois farmland price in 2024 was $9,876.94 per acre, and the average price in 2025 increased to $10,028.26 per acre. That represents a +1.53% year-over-year increase from 2024 to 2025, also reported by WMG Auction.

At the same time, total dollars and acres traded declined—an important signal for sellers trying to time the market. WMG Auction reports 2024 total Illinois farmland sales volume of $4,383,763,072. In 2025, total sales volume fell to $3,604,571,109, down 17.78% from 2024 according to WMG Auction.

That volume shift showed up in acreage as well. WMG Auction reports 287,838.77 acres of Illinois farmland sold in 2024, compared with 265,623.57 acres sold in 2025—down 22,215.20 acres from 2024 per WMG Auction.

In practice, this combination—slightly higher average prices with fewer transactions—often points to a market where top-quality farms still attract competitive bidding, while weaker tracts or niche parcels may require sharper pricing, better marketing, or more flexible deal terms.

Selling Land in Illinois: What Makes It Challenging

Selling land is rarely as simple as posting a listing and waiting for a buyer—especially for vacant rural parcels, inherited family ground, or properties with access, title, or use constraints.

• Time: Traditional marketing and selling land can take months as you line up surveys, disclosures, showings, and buyer financing.
• Costs: Commissions, attorney fees, surveys, closing costs, and ongoing taxes add up quickly—particularly when the land produces little or no income while it sits.
• Effort: Owners often manage access for showings, handle boundary questions, respond to due diligence requests, and negotiate repairs or contingencies.
• Sentiment and complexity: Family ownership structures, estate issues, and emotional attachment can slow decision-making and complicate execution.

For owners who prioritize speed and simplicity, a direct sale to a cash land buyer can reduce friction. Companies like Land Boss often streamline the process by presenting a cash offer and managing many of the closing logistics, though that convenience typically comes with a wholesale-style price that reflects the buyer’s costs and risk.

How to Evaluate a Cash Offer (or Any Land Offer)

A fair evaluation starts with understanding the pricing context. Direct buyers generally underwrite to a lower acquisition number because they carry holding costs, potential improvements, resale risk, and transaction expenses.

• Pull recent comparable sales in the same county and school district when possible, matching on soils, tillable percentage, access, and improvements.
• Hire a qualified appraiser when you need a defensible market value opinion, especially for estates, partnerships, or high-value tracts.
• Talk with local professionals (brokers, lenders, farm managers, assessors) about what buyers are actually paying for similar ground today.
• Adjust for the “certainty value” of a clean cash closing versus the uncertainty of a financed buyer, long due diligence timelines, or a failed closing.
• Anchor the decision to your goals: speed, maximum price, tax planning, or simplifying ownership.

Best Practices for Investing in Illinois Land

1) Run property-level due diligence

Verify boundaries, access, easements, and utilities. Confirm soil maps, drainage outlets, floodplain status, and any environmental constraints. If structures exist, inspect them professionally.

2) Underwrite income realistically

For cropland, evaluate expected rents, productivity history, and the local outlook for commodity prices. Integrate credible projections, such as the 2025 projected corn price of $4.10 per bushel and the 2025 projected soybean price of $10.20 per bushel from farmdoc daily, University of Illinois. In Central Illinois, include yield expectations like the 2026 projected corn yield of 241 bushels per acre from University of Illinois Extension.

3) Match financing to strategy

Choose financing that fits your hold period and risk tolerance—cash, conventional lending, seller financing, or partnerships. Fixed-rate terms can reduce risk when operating margins tighten.

4) Plan for management and maintenance

Strong land performance is rarely “set it and forget it.” Budget for tile and waterway work, fencing, invasive species control, insurance, and property taxes. Consider professional farm management for leasing and compliance.

5) Manage legal and title risk

Use title insurance, resolve liens, and confirm mineral and access rights where relevant. Stay aligned with zoning and conservation requirements, especially on transitional ground near towns.

Final Words

Illinois remains a large, productive, and highly segmented land market—where outcomes depend on micro-location, soil, access, and the property’s highest and best use. Recent data shows average farmland prices ticking up from $9,876.94 per acre (2024) to $10,028.26 per acre (2025)—a +1.53% year-over-year increase—even as sales volume and acres traded declined, according to WMG Auction. For landowners, the best decision comes from pairing those statewide signals with local comparable sales and a clear plan: maximize price through traditional marketing, or prioritize speed and certainty through a direct cash sale.

Frequently Asked Questions (FAQs)

What regions in Illinois tend to have the highest farmland values?

Central Illinois often leads due to strong soils and consistent productivity, while areas closer to major metros can command additional premiums when development demand exists.

How do commodity price expectations affect land values?

They influence farm profitability and what buyers can afford. For example, farmdoc daily, University of Illinois lists a 2025 projected corn price of $4.10 per bushel and a 2025 projected soybean price of $10.20 per bushel, both of which feed into rent and return expectations.

What’s a practical way to estimate my Illinois land value?

Start with recent comparable sales (same county and similar soils), then refine using tillable percentage, access, drainage, and improvements. If you need a defensible number for an estate or partnership, hire a certified appraiser.

Should I sell my Illinois land myself or to a land-buying company?

Selling yourself may bring a higher price but typically takes more time and coordination. A direct buyer can close faster and reduce hassle, but the offer usually reflects wholesale-level pricing to account for the buyer’s risk and resale costs.

Are Illinois farmland prices rising or falling right now?

Statewide averages show modest growth from 2024 to 2025. WMG Auction reports the average price rose from $9,876.94 per acre (2024) to $10,028.26 per acre (2025), a +1.53% year-over-year increase, while total sales volume and acres sold declined over the same period.