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U of Illinois Farmland for Sale
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illinidirtfarmer
Posted 11/19/2012 20:45 (#2706539 - in reply to #2703082)
Subject: Re: U of Illinois Farmland for Sale


WC IL
A few years ago the University decided to throw open bidding for cash rent on University farms. Caused a lot of controversy, as some of these farms had been farmed for many years by some very good farmers. The current renters were finally given the opportunity to match the high bids, some did and kept the ground, some didn't and lost it. Talked to a friend ( actually one of the Deans ) in the College of ACES at that time and he said the board of trustees didn't even consult with the College of ACES about it. That friend is now retired, but I did contact a friend in the Ag Econ Department that said again the college of ACES wasn't consulted, that the Board of trustees made the decision to sell the ground. Maybe they are going to use the proceeds to pay for the solar energy farm they are planning to build at a cost of $15.5M to provide 1.8% of their electrical needs with a potential savings of $10.8M over 20 years. With only 1 board member from a rural area, I doubt that they understand the ground could provide an income stream for years versus cash right now.
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