First of all, when looking to buy real estate, the price is most likely the first thing that comes to mind. However, if you ask the question, “How much is 1 acre of land in Illinois?” it will typically be answered as, “It depends.”
Illinois is a huge state. The price of land per acre in Illinois can vary significantly with every acre and all of this may depend upon whether you are considering land that fronts an office building in Chicago, a large corn field in the middle of the state or a wooded hill down in the south.
The easiest method to determine whether you are overpaying is to get a grasp of the average cost of 1 acre of land in Illinois. Below is a guide to the estimated costs for various sizes and locations.
The Average Costs Across the State
As a rule, the average cost of land per acre in Illinois is approximately $8,000 to $10,000 per acre. That figure can, however, decline dramatically if you are searching for recreational or “raw” land.
If you look at the average cost of an acre of land in Illinois, you’ll find reports that contain premium suburban land prices. If you take those out, the average price of an acre of land in Illinois for rural or wooded property can be much more affordable like within $3,000 to $5,000.
Regional Price Differences
The cost of an acre of land in Illinois depends most on where the land is purchased.
- Southern Illinois is typically the lowest cost area. If you want to know how much is an acre of land in southern Illinois, it can be $2,500 to $4,000 per acre, particularly for wooded lands.
- The center of the “Corn Belt” is Central Illinois. Soil conditions affect the average cost of a acre of land in central Illinois. The value of 1 acre of land in this area in Illinois may increase to $12,000 or more for very good agricultural land.
- Northern land in Illinois near the suburbs has a higher cost per acre of land in Illinois because of development potential.
What’s for Sale? – Buying by the Acre.
The price also varies depending on the quantity of purchase. Typically, the more acres purchased, the less the acreage costs.
1 acre of land for sale in Illinois may be more expensive if it has already been transected. Buyers who are looking for 2 acres of land for sale in Illinois or 3 acres of land for sale in Illinois are not uncommon when they are interested in buying a single-family home with some “breathing room.
If you’re looking for more substantial property, you’ll be in the realm of looking for 5 and 10 acres of land for sale in Illinois where you can begin a small farm or a private hunting area. If you’re seeking nearby the state capital, you may search specifically for 20 acres of land for sale in Springfield Illinois to find a combination of city access and total privacy.
Understanding the Total Investment
If you’re trying to figure out how much money is an acre of land in Illinois, keep in mind that the sticker price is not the actual cost.
A Helpful Reality Check: An acre that is around $2,000 in price is a great deal until you start thinking about the $15,000 price tag for septic systems and powering the place. Always look for utilities before assuming that a low price is a “steal.”
If you are looking to see what’s on the market and what the actual prices are, you can view the newest Land for Sale in Illinois in Illinois listings on CommonLots. We don’t want to make you run around the bank to see the total cost; we make it easy to see that.
FAQs
How much does an acre of land cost in Illinois?
Rural land or recreational land values are about $3,000 to $6,000 per acre, on average. The price of prime agricultural land may be as much as $10,000 to $15,000 per acre and residential lots close to cities can be significantly more expensive.
How much does 10 acres of land cost in Illinois?
The price of 10 acres varies from $35,000 in deep rural areas to well over $100,000 in more developed areas. For the most part, buying acres of land for sale in Illinois is less expensive.
How much is 5 acres of land worth in Illinois?
Typically, 5 acres is worth between $20,000 and $50,000. For folks wanting to buy land in Illinois for building a house, this is actually a very popular size, as they have ample of space for a septic field, a well, and also a big garden.
How much is 20 acres of land worth in Illinois?
The size of a 20-acre parcel is on the large scale and can be valued from $70,000 to $200,000 depending on the quality of the timber or soil.
How much is an acre of land in Illinois?
The cost of 1 acre of land in Illinois can vary from $5,000 in a small town to more than $50,000 in a growing suburban area.
What is the average cost per acre of land in Illinois?
The current average price of a rural acre of mixed use land in Illinois is about $7,500, which is somewhat of a ballpark figure, but reflects both low priced woods and high valued farmland.
