This is crazy!!!!! I cant believe the cost of these leases. I live in far northern IL and there are not really many leases available here and the price is crazy! Oh and to top it all off public land is slim here too. If its not to far to go for a public land hunt it's the stupid rules and lottery's that each public area has. I love to hunt and I'm really enjoying my first year of bow hunting even with all the hoops i have to jump through to hunt public land. I wish I could just find a farmer that would let me do some pest control for him!
yup for good stuff you are looking at 20-50 an acre. can find some up and comers for 10-15. Previous person said it best, really does depend on the landowners knowledge of how good the land is and how much the last guy was willing to pay. I wouldnt say its high because of the "rich guy" cause I am far from rich, but its a small price to pay to have a place to call yours.
Yes it ......WAS. That was back in the 80s in North Central WI. Not the greatest ground around. It still sells for $850-$100 an acre.
My uncle owns 100 acres in Trempealeau county wisconsin just me and him hunt it and his dad bought it for 25 thousand and just got it appaised for 300,000 with a small small house/shak on it.
buying land with some annual income from the ground can help lessen the "expense" of buying new land and help convince your wife of the idea... i.e. oil leases, mineral rights, crp programs, natural gas, and tillable crops. things like that will surely pay for at least the taxes and maybe some of monthly payments. Then when its paid off, it's just supplemental income. We're on 1,200 acres in woodson county kansas and an oil and natural gas well had the property paid off way quicker than expected. If we ever sell the cattle, there'll be tillable income too. Now that its paid off, its a money maker.
alot of it just depends on the area if you go farther up north in wisconsin ive seen 80 acres sell for 75 thousand it just depends on the persons situation
Land doesn't always go up. The price will fluctuate just like any investment. In 1984, my dad bought a 140 acre farm for $1100/acre which he still has and it's probably worth $5000/acre today. In 2004, I bought 40 acres about 6 miles from the family farm for $1100/acre and sold it in 2009 for $5000/acre. On the flip side, in 2010, an investment group bought the neighboring 320 acres for $3000/acre, broke it up into 20-80 acres lots expecting to get in the neighborhood of $5000/acre for smaller lots. They had a land auction and averaged a whopping $2750/acre. The only reason it was that high is because of (4) 5 acre home sites with road frontage that averaged $10,000/acre. The woods and pasture/row crop went for about $2250 on average. I also hunt in Southern IL. I leased 120 acres there for $10/acre. I've looked for other leases and prices have ranged from $15 to $40/acre. The higher asking prices are still available and probably will be until they get down in the $10-$15 dollar range. I think a lot of people 5 years or so ago overpaid for hunting land. With the economy as it is, I have a feeling you'll see land start to become available at affordable prices once again. Maybe in the next couple years. Especially as interest rates begin to climb, which they will at some point. My plan is to sock away as much as possible over the next few years to build up a healthy down payment so the interest rates don't hurt as bad. I would say, just be patient and wait for the right opportunity. Eventually you'll find it.
While I am no huge fan of outfitters, I think the ridiculous prices seen for buying land in Central Illinois has a lot more to do with people from Chicago suburbs (or out of staters who owned property near big cities), who recently sold property at a huge gain, and need to do a 1031 (tax deferred) exchange to avoid taking it up the tailpipe from Uncle Sam. I know for a fact that the 3 largest farm land transactions I have ever handled (I'm a real estate attorney), including one where the land sold for over $12,000 (yes, that's THOUSAND) per acre, were 1031 money that needed someplace to land.
