WASHINGTON, IL.; August 25, 2016 – Central Illinois Farmland sold Thursday at prices reaching as high as $13,500 per acre, with more than 150 people in attendance at the Five Points Conference Center in Washington for a Soy Capital Ag Services farmland auction (http://www.soycapitalag.com/).
The auction of 639.28 acres of top quality Tazewell and Woodford County farmland brought a total of $7,440,159 or $11,638 per acre per acre according to Managing Broker and Auctioneer, David Klein. “Spirited bidding was seen from both active farmers and investors looking at the long-term investment aspects of this high quality cropland between Washington and Eureka”, he said. “Ultimately, the six tracts were purchased by five different bidding parties. In some cases, farmers and investors made their own arrangements together to purchase certain tracts.”
Klein went on to say, “While this is certainly lower than prices we may have received during the peak in 2012-14, it shows that high quality farmland in a good location continues to be seen as a prized long-term investment and with solid demand.”
The company’s next event will be the auction of 159 acres of land in McLean County, Illinois, northwest of Normal. Individuals interested in additional information may visit www.soycapitalag.com or call 800-532-LAND for details.
Soy Capital Ag Services is a division of Soy Capital Bank & Trust Company, headquartered in Decatur, Illinois, a diversified financial services company with offices in Bloomington, Bourbonnais, Champaign, Decatur, Peoria & Springfield, Illinois.