Farmland Sales: Western Illinois Land Tops $10,100 Per Acre

Judging by his obituary, James Kettelkamp’s life was well-lived. The Stronghurst, Illinois, farmer served in the Army Air Corps in World War II and the Korean Conflict, after which he farmed and worked for the Illinois Department of Agriculture. He and his wife, Jeanne, had three children. He was devoted to his family and their church, until he died in 2012 at age 87. Jeanne, a homemaker, school cook, and childcare provider, died in December, 2018.

On Jan. 29, the Kettelkamp Trust sold the family’s 238.20 acres of Class A farmland, in Henderson County, west-central Illinois.

Auctioneer Van Adkisson says these high-quality tracts are the kind of sale that draws a number of potential buyers. There were 18 registered bidders, seven of whom participated in the sale.

In the end, one local farm family bought all three tracts, Adkisson says.

The land sold even though it will be tied up in a $325-per-acre cash lease for 2019. That did not hinder the selling price, Adkisson says.

Tract Acres Selling Price Average 1 80.38 $827,914 $10,300 2 82.82 $853,046 $10,300 3 75 $727,500 $9,700 Average $2.408 million $10,111

The land is in line with what Adkisson thought it would bring. Here’s the per-tract information:

• Tract 1, 80.38 acres 2 miles east of Stronghurst, has 77 tillable acres with the balance in waterway. Soil types are Muscatune and Osco silt loam, with a Productivity Index of 143.9 (based on a 116 to 147 scale). Property tax is $44.57 per acre. It sold for $827,914 ($10,300 per acre).
• Tract 2, 82.82 acres located just north of Tract 1, is all tillable except for two small grass waterways. Soil types include Muscatune and Osco silt loam, with a PI of 143.2. Property tax is $42.90 per acre. It sold for $853,046 ($10,300 per acre).
• Tract 3, 75 acres, is all tillable except for a small waterway. It has Muscatune, Osco, and Greenbush soils with a PI of 141.6. Property tax on this tract is $42.90 per acre. It sold for $727,500 ($9,700 per acre).

Combined, the sale netted $2.408 million, or $10,111 per acre.

Other sales of interest:

Iowa, Calhoun County: Two tracts totaling 120 acres southwest of Somers (central Iowa) sold Jan. 29. Tract 1, 120 acres, has Canisteo, Nicollet, and Webster soils, with a Corn Suitability Rating 2 of 82.81. The farm is open for 2019. Real estate tax per acre is $24.82. Improvements to the farm include two grain bins; one 36-foot and one 24-foot. It sold for $1.032 million ($8,600 per acre). Tract 2, 80 acres next to Tract 1, has Canisteo, Clarion, and Nicollet soils, with a CSR 2 of 83.02. It sold for $760,000 ($9,500 per acre). Hertz Farm Management had the sale.

Minnesota, Cottonwood County: Below-0 temperatures didn’t keep spirited bidding from occurring Jan. 30 in Windom (southwest Minnesota). Dan Pike and Associates Auction Company sold two tracts totaling 240 acres. Tract 1, 80 acres, east of Windom, has mostly Clarion Loam and Webster Clay loam soils, with a 93.8 Productivity Index (based on a scale of 0 to 100). It sold for $792,000 ($9,900 per acre). Tract 2, 160 acres .5 mile south of Tract 1, has mostly Nicollet clay loam and Clarion loam soils, with an estimated PI of 92.1. It sold for $1.04 million ($6,500 per acre). Auctioneer Dan Pike says both tracts sold at or above presale expectations.