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Strong land prices continue

At a recent land sale in Boone County, Ill., 3,355 acres of farmland sold for over $25.5 million.  R.D. Schrader, president of Schrader Real Estate & Auction said some bids on tillable land were more than $10,000/acre.  At the end of the auction, he said, one bidder purchased just over 2,400 acres for more than $19 million.  The remaining acreage was purchased by 14 other bidders.

Schrader says local bidders generally have greater appreciation for the land and they were glad to see bidders from the area out bid multiple investment funds looking to make purchases.