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Illinois ranks 6th in the nation for the sale of agricultural products and is a leading producer of field crops such as Corn and Soybeans. The midwest is known for great soil quality and growing conditions, and Illinois is certainly no exception. There are over 27 million acres of farmland in Illinois, of which, over 90% is considered “prime” farmland or land that has the best combination of physical and chemical characteristics for producing crops. In fact, Illinois ranks third in the nation for the number of active farming acres considered “prime” cropland. For this reason and many others, Illinois has remained in the top 5 states in terms of agricultural exports in the nation since 2000.

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Farmland Rental Rates

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illinois Farmland Rental Rates

Over the last 20 years, farmland rental rates per acre in the illinois have risen from an average of $119 per acre in 1999 to $224 per acre in 2019. This represents an increase of $105 over this time period with an average implied capitalization rate of 3.6%.

$224

Current Rental Rate Per Acre

Cash Rent per Acre

Source: USDA

Created with Highcharts 7.2.019941995199619971998199920002001200220032004200520062007200820092010201120122013201420152016201720182019$ 0$ 50$ 100$ 150$ 200$ 250Highcharts.com

3.6%

Average Annual Cap Rate

Implied Annual Capitalization Rate

Source: USDA

Created with Highcharts 7.2.0199719981999200020012002200320042005200620072008200920102011201220132014201520162017201820190 %1.2 %2.4 %3.6 %4.8 %6 %Highcharts.com

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