Spoon River Farm
Spoon River Farm
Spoon River Farm is a 146 acre corn and soybean farm in Knox County, Illinois, roughly an hour west of Peoria. Knox County is a major farming area in the heart of the Corn Belt, with an agricultural market value of $284 million as of the most recent USDA Census of Agriculture.
Knox County is home to 339,633 acres of planted crop ground, of which 96% are planted in corn or soybeans. This area enjoys a strong tenant market and over a dozen grain elevators. Robust agricultural infrastructure with multiple product outlets tends to support competitive commodity prices.
Spoon River Farm has been in a consistent rotation of corn and soybean for at least the past five seasons. This practice reduces depletion of soil nutrients, in turn reducing the need for pesticide inputs. The five year average yield history for this farm is 207 bushels per acre of corn and 60 bushels per acre of soybeans.
The farm’s soils are primarily Rozetta and Greenbush silt loams with an average Productivity Index of 114, compared to the county average of 110. While the farm’s soils provide optionality for a variety of grains and vegetables, its four-year production history also exceeds county averages for both corn and soybeans.
Area rainfall averages 39” annually, more than adequate for the farm’s production. The property has rolling topography with the lowest spots in the non-tillable portion of the acreage, promoting drainage of excess water. The farm has experienced no issues with standing water in the past three crop years.
This offering structure allows the current operator to remain on the land. Spoon River Farm will continue to be leased to the current local operator, who has been farming the property for the past four years and has provided strong yield data.
5-10 year target hold period given stable cash flows and potential for long-term appreciation.
Invest in a hard asset with little or no correlation to other major asset classes.
The property will be managed by Acretrader Management, LLC, an affiliate of AcreTrader, Inc.
Standard AcreTrader management fee of 0.75% applies annually.
Cash distributions expected to occur annually, beginning in December 2022. Frequency of distributions may increase during future periods.