redoak - 11/19/2015 04:43
senodak - 11/18/2015 22:19
. I hope in the end these prices end up being bargain basement steals, .
Nobody wants a land crash like in the '80's
(well maybe your neighbor does
) but high land values are only good for the farmer retiring /selling out. High values demand big taxable principal payments ,LL wanting more rents to get ROI ,higher property tax and for families all of a sudden the kids that didn't want anything ever to do with farming and moved to Chicago or NYC wants "there" share of farm inheritance and srew the sister or brother farming. In OP it looks like $6 mil. for the farm isn't really a big bargain, maybe less than previous sales but that is still a life time of profits for many farms-$150k x 40 yrs. net after taxes
Champaign Land Sale
