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Southwest Illinois | Lots of info needed to make that decision. Is the productivity the same? Is the ground nearby higher in price due to development potential? How big is each piece? Overpriced is really only a term that can be used if the highest and best use is no longer farmland. If you have 40 acres next to a commercial development it could be worth $40-$100K per acre, or more. At that point it would be over priced to farm. We actually have moved ground around a fair amount. Coal mine took ground in the 60s so we swapped for ground in central Illinois because we could get 2 acres for every 1 acre we would have got by buying local. In the 90s the ground in central Illinois was nearly double so we sold it and bought twice the acres about 30 miles away. At the time the ground 30 miles away was about half what we could have bought right around home. Today the ground 30 miles away sells for about 90% of what ground near home sells. I have buyers lined up in case I can trade 1 for 1 to get ground near home. From the mid 60s my moms original home farm was 160 acres. Today it is about 700. Had her vision been sentimental she would probably have just 160 acres. | |
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Would You Sell Ground?
