Annually, the Illinois Society of Professional Farm Managers and Rural Appraisers conducts a mid-year survey to ask its members about cash rent expectations in the upcoming year. The National Agricultural Statistical Service (NASS) reported the average cash rent for Illinois in 2020 at $222 per acre, continuing a string of years in which Illinois’ cash rents varied in a narrow band (see Figure 1). Guidelines are available here. As with all rents, there is a considerable range around the average. Set on 3 acres in the country, watch amazing sunsets from the back patio! Then cash rents rose to $223 per acre in 2018, and then to $224 in 2019. Average cash rents vary across Illinois, as illustrated in Figure 2, which shows average county cash rents released by NASS on August 28. Wine Country Farmhouse. Results for the 2020 mid-year survey were reported on a September 4th webinar. $1,695. Both bedrooms are generously sized making them perfect. Champaign County is in the East CRD that has a CRD adjustment of $27 (see Table 1). Location on a plat map and legal description, Soil map showing types and Productivity Index. Southern Illinois has lower per acre cash rents. Situated on 109 acres with a private lake, this stunning House has beautifully appointed living space, allowing up to 16 lucky guests to spread out and socialize, inside and outside! CRD adjustments are shown in Table 1. Vacation rentals available for short and long term stay on Vrbo. We require pertinent information from prospective tenants: We review each applicant's offer and information on their operation. Differences in soil productivity explain a large part of the variations in cash rents. The counties with the five lowest cash rents are Johnson at $50 per acre, Pope at $80 per acre, Williamson at $90 per acre, Hardin at $100 per acre, and Franklin at $110 per acre. Find the best offers for Properties for rent in Illinois. Owned by our family since 1885, the farmhouse has historic charm combined with modern comforts including newly added bathrooms, central HVAC and new windows. This renovated 1920's farmhouse is a great place for family gatherings or for a couples weekend away. From this level, cash rents declined $16 per acre over the next four years to $218 per acre in 2017. Schnitkey, G. "Determining the Average Cash Rent Based on Productivity Index." Contact Property (855) 283-2447. COVID-19 control measures continue to darken agricultural outlook and will likely shadow the economy for the next several years, although the current outlook for Illinois farmers has recently brightened. Cash rents exhibit large variations from the above averages. Given this information, the average cash rent for this farm is $257 per acre (-157 + 2.89 x 134 PI + $27 CRD adjustment). For example, corn yield averaged 210 bushels per acre from 2015 to 2019 for counties that had average SPIs over 133 (see Table 2). Overall, professionally managed farmland has higher cash rents than NASS averages. First Illinois Ag Group is currently accepting applications to lease 105.03 tillable acres in Shelby County, IL, commonly known as the Rhoades Farm. 597 N 2nd Ave. Coal City, IL 60416. Welcome! Relax in the charming and beautiful interior. In 15 minutes from the driveway you can have your boat launched and then come back to plenty of room for your family to enjoy their evening. While you are in the area make plans to stay at the Mill Creek Farmhouse. For a detailed statement, please see the University of Illinois Copyright Information and Policies here. While there may be reasons a cash rent rate is considerably above or below an average, rents that are considerably above average may need to be examined given the uncertainty in the agricultural economy. Illinois cash rent reached a high in 2014 of $234 per acre. Secure payments, 24/7 support and a Book with Confidence guarantee Sort by: Best Match. 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