Illinois land broker and farm manager Liz Strom says farmland values have leveled off after several years of record highs. From 2021 to 2023, A-quality farms in central Illinois regularly sold for over $20,000 per acre, driven by strong commodity prices and investor demand. Prices have since eased to around $15,000–$17,000 per acre, but Strom notes the market remains steady and competitive. Demand for top-tier farmland continues across the Midwest, especially among farmers and long-term investors.
