Selling Illinois Land Held in a Trust in 2026: What to Know

Illinois remains one of the most closely watched land markets in the U.S., and recent data shows why timing, valuation, and trust administration matter more than ever. In 2025, Illinois farm real estate values averaged $8,930 per acre—up 2.6% from the 2024 average of $8,700—and that 2025 level is also 22% higher than the 2016 value of $7,300 per acre, reflecting a long runway of appreciation even through shifting farm incomes (according to the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)). At the same time, benchmarks and county-level trends show that prices can move quickly in both directions: Farm Credit Illinois reported a 4.41% decrease in farmland values in 2025—the first decline since 2018 (per Farm Credit Illinois), and as of Q4 2024, Illinois farmland values were down 4.2% from their early-2024 peak but up 2.1% from a Q3 2024 dip (per Farmland Intel).

If your Illinois land is held in a trust, you can still sell efficiently—but you need to follow the trust document, satisfy fiduciary duties, and structure the transaction so the trustee can convey clear title. This guide walks through the practical and legal steps to sell Illinois land in a trust while protecting beneficiaries and maximizing value.

Illinois land market context: why pricing and timing are different now

Land value in Illinois is not one number—it varies by land type, county, tax burden, and buyer demand. For example, as of Q4 2024, Moultrie County posted the highest average farmland value in Illinois at $15,851.13 per acre, while Cook County had the lowest at $5,446.08 per acre (according to Farmland Intel). That spread is one reason a trust sale should start with a location-specific valuation, not a statewide average.

Illinois cropland has also shown strong long-term growth. In 2025, Illinois cropland values averaged $9,850 per acre, representing a nearly 6% annual increase since 2000 (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)). Still, Illinois competes in a national market for capital. In 2025, U.S. cropland values averaged $5,830 per acre, up $260 per acre (4.7%) from 2024 (according to the USDA National Agricultural Statistics Service (NASS)). More broadly, national agricultural real estate values increased by $180 per acre in 2025 to an average of $4,350 per acre—marking the fifth consecutive increase (per the USDA National Agricultural Statistics Service (NASS) and American Farm Bureau Federation). Buyers pay attention to these national indicators, even when making local offers.

For trust-owned land, costs matter as much as headline prices—especially when beneficiaries compare “hold” versus “sell.” Average farmland real estate taxes in central Illinois rose from $33 per owned acre in 2000 to nearly $76 per owned acre in 2024, an average annual increase of 3.5% (according to the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)). Economic ownership (interest) costs also climbed—from $108 per owned acre in 2000 to over $270 per owned acre in 2024, an average annual increase of 3.9% (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)). These rising carrying costs often become the deciding factor for trustees evaluating whether liquidation better serves the trust.

Understanding land held in a trust (and why it changes the sale)

A trust is a legal arrangement where a trustee holds and manages property for one or more beneficiaries. When the trust owns Illinois land, the trustee typically controls the sale process—but only within the authority granted by the trust agreement and Illinois law. That means your “how to sell” checklist starts with governance (authority, consents, fiduciary duty) and ends with execution (title, contract, closing, and distribution).

Before you list: trust-first preparation steps

1) Review the trust agreement for sale authority and constraints

Read the trust document closely and confirm:

• Whether the trustee has explicit authority to sell real estate
• Whether the trust requires beneficiary consent or notice
• Any restrictions on price, timing, or buyer type
• Signature requirements (single trustee vs. co-trustees)

When the trust language is unclear, a local attorney can help interpret authority so you do not risk an avoidable dispute later.

2) Get required consents (and document them)

If the trust requires beneficiary approval—or if you want to reduce the chance of later conflict—collect written consents or acknowledgments. Keep a clean file: emails, meeting notes, and signed approvals. Trustees who document their decision-making also demonstrate compliance with fiduciary duties.

3) Establish a defensible value range (not just one number)

Land values can vary dramatically by soil quality, drainage, access, parcel size, tenancy, and development pressure. Build your pricing strategy with:

• A professional appraisal (especially for higher-value farms or mixed-use tracts)
• Local comparable sales (ideally within the past 6–12 months)
• County and statewide benchmarks to sanity-check the range

Benchmarks help frame expectations: Illinois farm real estate values averaged $8,930 per acre in 2025, up 2.6% from $8,700 in 2024 (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)), yet Farm Credit Illinois’ benchmark study reported a 4.41% decline in farmland values in 2025 (according to Farm Credit Illinois). Use this kind of mixed signal as a reason to price with evidence—not guesswork.

Choosing the best way to sell Illinois land from a trust

Option A: List with a land-focused real estate agent

This approach often delivers the broadest market exposure and strongest price discovery, especially for high-quality cropland, large tracts, or parcels with competitive buyer demand. Expect a longer timeline and a commission cost, but also more structured marketing and negotiation support.

Option B: Sell directly to a land-buying company for speed

A direct sale can reduce uncertainty and compress the timeline—useful when the trust needs liquidity, beneficiaries want a clean exit, or the property carries ongoing costs (taxes, interest, insurance, maintenance). If you’re considering a fast sale route for vacant property, you can explore options like selling vacant land directly for cash. The tradeoff is that convenience and speed may come with a lower offer than a fully marketed listing.

Option C: Sell by owner (with professional support)

Selling without a listing agent can reduce commission expense, but it increases the trustee’s workload and risk. Trustees often still hire an attorney and may use a title company early to avoid closing delays.

Getting the property “sale-ready” (even if it’s vacant)

Land sells faster when buyers can quickly understand what they’re buying and how they can use it. Prepare:

• Clean access points and mark boundaries where appropriate
• Recent survey (or clarify if none exists)
• Soil maps, drainage details, and tenancy/lease information (for farmland)
• Utility availability and road frontage data (for development potential)
• Photos, maps, and—when useful—drone footage

Marketing and negotiation: protect the trust and improve outcomes

Market with buyer intent in mind

Different buyers look for different value drivers:

• Farm operators and investors focus on soil productivity, field shape, drainage, and lease income
• Recreational buyers focus on timber, water, wildlife, and access
• Developers focus on zoning, utilities, frontage, and entitlement feasibility

Anchor your marketing in credible context. For example, county benchmarks can help explain pricing: as of Q4 2024, Moultrie County averaged $15,851.13 per acre while Cook County averaged $5,446.08 per acre (per Farmland Intel). That kind of data helps qualified buyers understand why your property is priced the way it is.

Evaluate offers beyond price

Trustees should compare offers based on:

• Net proceeds to the trust (after commissions, closing costs, and cure items)
• Contingencies (financing, inspections, zoning feasibility)
• Earnest money strength and buyer track record
• Closing timeline and certainty

When beneficiaries want speed, weigh the cost of delay. Carrying costs are real: average central Illinois farmland real estate taxes rose to nearly $76 per owned acre in 2024 (from $33 in 2000) (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)), and economic ownership/interest costs exceeded $270 per owned acre in 2024 (up from $108 in 2000) (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)). A “higher” offer that drags out for months can underperform a cleaner deal when you account for time, risk, and expense.

Legal considerations when selling trust-owned land in Illinois

Draft (or review) the purchase agreement with trust authority in mind

Work with a real estate attorney who understands trust-owned property. The contract should clearly identify:

• The seller as the trustee (and the trust name, as applicable)
• Signing authority and any co-trustee requirements
• Earnest money handling and default remedies
• Contingencies and deadlines that match trust objectives

Resolve title and conveyance issues early

Title problems can derail closings. Address:

• Liens, unpaid taxes, or probate-related issues
• Boundary conflicts and encroachments
• Easements, access disputes, and recorded restrictions

Meet Illinois disclosure and condition standards

Disclosure requirements vary by property type, but trustees should disclose known material defects and avoid overstatements in marketing. If the property is leased, share lease terms and any tenant rights that affect possession.

Closing: what’s different when a trust sells

• The trustee signs closing documents on behalf of the trust
• Sale proceeds typically flow to the trust, not directly to beneficiaries
• The trustee should retain a complete trust file: settlement statement, deed, closing package, and distribution documentation

After closing: distribution, records, and taxes

After the sale, the trustee should:

• Distribute proceeds according to the trust agreement
• Provide beneficiaries with a transparent accounting
• Update trust asset schedules and retain records for tax and reporting needs
• Coordinate with tax professionals on capital gains, basis, and trust-level filings

Final thoughts

Selling Illinois land held in a trust can feel complicated, but the path becomes straightforward when you treat it as two parallel projects: (1) administer the trust correctly and (2) sell the land like a professional. Today’s market rewards trustees who price with evidence and plan for volatility—especially when signals differ by dataset. For example, statewide averages show Illinois farm real estate values at $8,930 per acre in 2025 (up from $8,700 in 2024) and 22% above 2016 levels (per the University of Illinois Department of Agricultural and Consumer Economics (farmdocdaily.illinois.edu)), while a separate benchmark showed a 4.41% decline in 2025 (per Farm Credit Illinois) and county tracking showed Q4 2024 values down 4.2% from the early-2024 peak but up 2.1% from Q3 2024 (per Farmland Intel).

If you want to simplify the process, you can sell through an agent, market it yourself with professional support, or consider a direct sale for speed and certainty. For additional Illinois land-specific guidance, see Selling Illinois land. With the right documentation, a defensible valuation approach, and a clear closing plan, trustees can complete a compliant sale that protects beneficiaries and captures the property’s best market value.