Land Watch Illinois (2024)

FAQs

How much does 1 acre of land cost in Illinois? ›

How expensive is land in Illinois? It all depends on the location and type of property you're looking to buy. For example, if you want to buy a farm in Illinois, you should budget about $8,900 per acre.

There are several potential benefits that make Illinois land attractive to investors: Appreciation - As noted above, real estate values have consistently risen over the long term in Illinois, outpacing national averages in many markets. Owners can build equity as their land increases in value over time.

The combined market value of recreational land and property for sale in Illinois is $198 million, with the average price of recreational land and property for sale in being $558,700. Discovery more Illinois farmland and land for sale near you on Land and Farm.

You have numerous options when purchasing land in Illinois. Agricultural land is plentiful, especially in rural areas. Farmland produces corn, soybeans, wheat and more. Illinois also has forests, wetlands and prairie land.

The cheapest land in the United States is located in New Mexico, Arizona, Michigan, Colorado, and Texas. However, it's important to note that the price per acre of a piece of property is dependent on several factors, including location and the type of land.

The current average per acre price for land in Illinois according to these January sales is $12,097/acre. The highest selling farm in Illinois in the month of Januray 2024 sold on January 30th in Champaign County for $2,775,986 or $17,040 per acre for 162.9 acres, with a PI of 139.6.

In Illinois, Chinese investors own only about one square mile of land, while Portuguese, Italian, and Canadian interests hold over 760 square miles combined. Foreign investors own, or partly own, about a third of the land in central Illinois' McLean County.

The main difference between buying land vs. home ultimately comes down to your purpose of investment. Going ahead and buying a house rather than a plot of land may save you both time and money. However, if you intend to construct a home and lease it out, a land can be a better option.

The National Agricultural Statistics Service (NASS) reported the average cash rent for Illinois in 2023 at $259 per acre, up by $16 per acre from the 2022 level of $243 per acre (see Figure 1).

How much recreational can you buy in Illinois per day? ›

Investment Opportunity: Buying recreational land is not just about securing a personal retreat; it's also an astute investment that can offer long-term financial gains, providing a tangible asset that appreciates over time without the immediate concerns of traditional property maintenance.

The squatter must occupy the property for at least 20 years, as stipulated by Illinois adverse possession laws. If the squatter has color of title, however, the required period to claim adverse possession is reduced to 7 years, provided they have paid property taxes during that time.

Under certain conditions, these laws allow individuals to register a parcel of real property as a "homestead," and thus off limits to certain creditors. Illinois homestead laws allow people to claim as much as $15,000 worth of property (or $30,000, if jointly owned) as a homestead.

The current average per acre price for land in Illinois according to these December sales is $13,349/acre. The highest selling farm in Illinois in the month of December 2023 sold on December 8th in Champaign County for $3,314,580 or $14,226 per acre for 233 acres, with a PI of 143.1.

On average, in the United States, the cost of one acre of land is around $16,000. You can buy an acre for under $1,000 in some places, but some commercial lots and farmland can exceed $100,000 per acre. Land values are determined by factors such as access to utilities, infrastructure, and zoning regulations.

Illinois Hunting Land Information

With an average price of $578,053, the total value of almost 100,000 acres of hunting land recently listed for sale in Illinois is $157 million. Illinois is characterized by a diverse landscape that includes rolling hills, vast prairies, and fertile farmland.

Federal land is managed for many purposes, such as the conservation and development of natural resources, grazing and recreation. The federal government owns 1.14 percent of Illinois's total land, 406,734 acres out of 35,795,200 total acres. Illinois ranked 38th in the nation in federal land ownership.