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.

Recent listings in Illinois of recreational land and property for sale totaled approximately 100,000 acres acres of recreational land and property and a combined market value of $196 million. The average price of recreational land and property for sale in Illinois was $566,722.

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 average farm real estate value for Illinois in 2023 was $9,300 per acre. This includes the value of all land and buildings. The figure was 4.5 percent higher than the 2022 average of $8,900 per acre.

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.

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? ›

Illinois ranks 46th in the nation for publicly-owned land with more than 97% of land in private ownership.

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.

Resident landowners or tenants (including those leasing land) of land of 39.5 acres or more can apply for free firearm or archery deer permits. Permits are a combination of one either-sex permit and one antlerless permit.

Wyoming is currently the #1 cheapest state to buy land in 2024. The average price per acre for land in Wyoming right now is $3,435, which fell from a high of $5,903 per acre in 2023.

The average price of hunting land for sale in Illinois is $558,027. Illinois is characterized by a diverse landscape that includes rolling hills, vast prairies, and fertile farmland. The Mississippi River flows along the western border, and Lake Michigan borders the northeastern corner.

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.

How much is an acre of land? The cost of land per acre varies greatly depending on location and intended use. 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.