Friday, January 16, 2009

Farmland Auction is Catching alot of Attention

3,900 acres of prime Illinois farmland is coming up for auction and is causing quite a stir in the countryside:

“What we have is a phenomena where we have lots of people in the upper crust, top 20 percent of the country finance-wise, who are experiencing something that they’ve never experienced the last two or three years. It’s kind of an ‘in’ thing now to have farmland in your investment portfolio,” said Mac Boyd, immediate past president of the Illinois Society of Farm Managers and Rural Appraisers.
The sale of land from the Kilton Farm near Litchfield, about 50 miles south of Springfield, has generated industry buzz well beyond the state, including with investment firms, real estate companies and corporate farms, Boyd added.
“If they’re in the land business, they know about it,” he said.

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