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USD reporting
Farmland Partners · FPI
Row crops · Filing
- Acres
- 71,600
- Book / acre
- USD 8,608
- Market cap (USD)
- $421M
- EV / acre (USD)
- $8,977
Sector KPIsestimate
- Top-10 tenants
- 30% of rent
- AFFO / share
- USD 0.39
- Rent indexation
- mixed
- Water rights
- USD 15M
Tangible Balance-Sheet Assets
Asset-class composition from the latest FY filings, alongside market enterprise value for an asset-coverage view. Land at FMV when a per-property breakdown is available; other classes at filed book value.
| Asset class | Book (USD M) | FMV (USD M) | Note |
|---|---|---|---|
| Land / property | 616 | 572 | Per-property breakdown below |
| PP&E (mills, plants, machinery) | 6 | — | Net of accumulated depreciation |
| Inventory | 2 | — | |
| Water rights | 15 | — | Carried separately from land |
| Intangibles + goodwill | 1 | — | Excluded from tangible total |
| Tangible total (ex-cash) | 639 | 595 | |
| + Cash & equivalents | 9 | 9 | |
| Tangible total (incl. cash) | 649 | 605 | |
| Reported total assets (BS) | 700 | — | Latest period 2024-12-31 |
Tangible book
USD 649M
93% of total assets
Market cap
USD 421M
65% of tangible book
Enterprise value
USD 643M
99% of tangible book
Implied fair market analysis
As of 2025-12-31Aggregate FMV
USD 572M
Range USD 486–658M · 71,593 acres
FMV vs. book
-5.8%
Book USD 608M · FMV USD 572M
Implied NAV / share
USD 8.13
Range USD 6.13–10.12
Live price vs. FMV NAV
+20.1%
Range -3.5% (high) to +59.1% (low)
NOI cross-check (yield-based reasonableness)
FMV-weighted from property mix (121 of 121 properties): typical 3.7–5.2%
Reported NOI
USD 41.9M
Cap rate at comp-based FMV
7.32%
Range 6.37–8.61%
Verdict
Above typical — comp-based FMV may be conservative vs yield benchmark
FMV by category
Aggregated from per-property assumptions below| Category | Properties | Acres | Avg book USD/acre | Avg FMV USD/acre | Book (USD M) | FMV (USD M) | FMV range (USD M) | FMV vs book |
|---|---|---|---|---|---|---|---|---|
| Other (60 farms in 3 states, <5% of gross) | 1 | 21,100 | 1,502 | 7,100 | 32 | 150 | 127–172 | +372.6% |
| California permanent crops | 13 | 4,499 | 49,678 | 25,000 | 223 | 112 | 96–129 | -49.7% |
| Illinois Class-A central corn-belt | 44 | 6,115 | 22,698 | 13,500 | 139 | 83 | 70–95 | -40.5% |
| Illinois Class-B / mixed | 47 | 5,878 | 22,644 | 10,500 | 133 | 62 | 52–71 | -53.6% |
| Nebraska center-pivot irrigated | 5 | 5,000 | 1,460 | 10,500 | 7 | 53 | 45–60 | +619.2% |
| South Carolina specialty | 4 | 5,501 | 2,618 | 5,500 | 14 | 30 | 26–35 | +110.1% |
| Texas High Plains dryland | 1 | 8,500 | 1,294 | 2,800 | 11 | 24 | 20–27 | +116.4% |
| Louisiana sugarcane / rice | 1 | 4,000 | 6,325 | 5,200 | 25 | 21 | 18–24 | -17.8% |
| Colorado Plains dryland | 3 | 8,000 | 1,738 | 1,800 | 14 | 14 | 12–17 | +3.6% |
| Indiana cropland | 1 | 1,500 | 1,400 | 9,500 | 2 | 14 | 12–16 | +578.6% |
| Missouri cropland | 1 | 1,500 | 4,333 | 6,500 | 7 | 10 | 8–11 | +50.0% |
| Total | 121 | 71,593 | 8,487 | 7,994 | 608 | 572 | 486–658 | -5.8% |
Properties
121 of 121 Schedule III line items shown (excluding rows where my parser couldn't allocate acres). Includes the "Other" aggregate row covering 60 small farms in 3 states. Per-line-item acres are pro-rata allocated within each state by net book value (state totals are estimates from FPI investor materials).| Property | Category / crop | Acres | Acquired | Cost (USD M) | Book (USD M) | USD/acre book | FMV USD/acre | FMV (USD M) | vs book | Comps |
|---|---|---|---|---|---|---|---|---|---|---|
Other farm Multiple states | Other (60 farms in 3 states, <5% of gross) Mixed agriculture (60 farms in 3 states) | 21,100 | Dec 2017 | 31.6 | 31.7 | 1,502 | 7,100 6,035–8,165 | 149.8 | +372.6% | FPI-DISP-2025 60-farm aggregate disclosed as <5% of gross. FPI's own 2025 dispositions averaged ~$7,100/acre across 60 properties for $90.2M, used as the most defensible mark for the residual aggregate |
Texas farm Texas Encumbered: Farmer Mac | Texas High Plains dryland Cotton / wheat / sorghum | 8,500 | Dec 2022 | 12.1 | 11 | 1,294 | 2,800 2,380–3,220 | 23.8 | +116.4% | TX-HIGH-PLAINS-DRYLAND-2024USDA-TX-CROP-2025 Texas A&M AgriLife 2024 High Plains benchmark $2,800/acre — close to USDA NASS Texas state-average $3,000 |
California farm California Encumbered: MetLife #8 | California permanent crops Almonds / pistachios / permanent crops | 906 | Dec 2017 | 45 | 45 | 49,669 | 25,000 21,250–28,750 | 22.7 | -49.7% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Louisiana farm Louisiana Encumbered: Farmer Mac | Louisiana sugarcane / rice Sugarcane / rice | 4,000 | Dec 2021 | 25 | 25.3 | 6,325 | 5,200 4,420–5,980 | 20.8 | -17.8% | LA-SUGARCANE-2024USDA-LA-CROP-2025 LSU AgCenter 2024 sugarcane belt benchmark $5,200/acre |
Illinois farm Illinois Encumbered: MetLife #9, MetLife #10 | Illinois Class-A central corn-belt Corn / soybean rotation | 1,407 | Dec 2017 | 30.1 | 31.9 | 22,672 | 13,500 11,475–15,525 | 19 | -40.5% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
South Carolina farm South Carolina Encumbered: MetLife #10 | South Carolina specialty Specialty / row crops | 3,102 | Dec 2015 | 8 | 8.1 | 2,611 | 5,500 4,675–6,325 | 17.1 | +110.6% | SC-COASTAL-2025USDA-SC-CROP-2025 Clemson Extension 2025 South Carolina coastal-plain cropland benchmark |
California farm California Encumbered: MetLife #8 | California permanent crops Almonds / pistachios / permanent crops | 674 | Dec 2017 | 33.5 | 33.5 | 49,703 | 25,000 21,250–28,750 | 16.9 | -49.7% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
California farm California Encumbered: MetLife #8 | California permanent crops Almonds / pistachios / permanent crops | 636 | Dec 2017 | 31.6 | 31.6 | 49,686 | 25,000 21,250–28,750 | 15.9 | -49.7% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Illinois farm Illinois Encumbered: MetLife #6 | Illinois Class-A central corn-belt Corn / soybean rotation | 1,124 | Dec 2017 | 24.4 | 25.5 | 22,687 | 13,500 11,475–15,525 | 15.2 | -40.5% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Indiana farm Indiana Encumbered: Farmer Mac | Indiana cropland Corn / soybean | 1,500 | Dec 2022 | 2.1 | 2.1 | 1,400 | 9,500 8,075–10,925 | 14.3 | +578.6% | USDA-IN-CROP-2025 USDA NASS Indiana state-average cropland 2025 |
Nebraska farm Nebraska Encumbered: Farmer Mac | Nebraska center-pivot irrigated Corn / soybean center-pivot | 1,274 | Dec 2025 | 1.9 | 1.9 | 1,491 | 10,500 8,925–12,075 | 13.4 | +604.1% | NE-IRRIGATED-2025USDA-NE-CROP-2025 UNL 2025 land survey center-pivot irrigated benchmark $10,500/acre, premium to NASS state-average $8,800 |
Nebraska farm Nebraska Encumbered: Farmer Mac | Nebraska center-pivot irrigated Corn / soybean center-pivot | 1,261 | Dec 2025 | 1.8 | 1.8 | 1,427 | 10,500 8,925–12,075 | 13.2 | +635.6% | NE-IRRIGATED-2025USDA-NE-CROP-2025 UNL 2025 land survey center-pivot irrigated benchmark $10,500/acre, premium to NASS state-average $8,800 |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 529 | Dec 2017 | 31.4 | 26.3 | 49,716 | 25,000 21,250–28,750 | 13.2 | -49.7% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Nebraska farm Nebraska Encumbered: Rabo | Nebraska center-pivot irrigated Corn / soybean center-pivot | 1,158 | Dec 2014 | 1.6 | 1.7 | 1,468 | 10,500 8,925–12,075 | 12.2 | +615.2% | NE-IRRIGATED-2025USDA-NE-CROP-2025 UNL 2025 land survey center-pivot irrigated benchmark $10,500/acre, premium to NASS state-average $8,800 |
Missouri farm Missouri Encumbered: Farmer Mac | Missouri cropland Corn / soybean | 1,500 | Dec 2021 | 6.5 | 6.5 | 4,333 | 6,500 5,525–7,475 | 9.8 | +50.0% | MO-CROPLAND-2024USDA-MO-CROP-2025 University of Missouri Extension 2024 Missouri Bootheel / Northwest benchmark |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 305 | Dec 2017 | 17.8 | 15.2 | 49,836 | 25,000 21,250–28,750 | 7.6 | -49.8% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 285 | Dec 2017 | 15.3 | 14.1 | 49,474 | 25,000 21,250–28,750 | 7.1 | -49.5% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 284 | Dec 2017 | 18.1 | 14.1 | 49,648 | 25,000 21,250–28,750 | 7.1 | -49.6% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 284 | Dec 2017 | 14.4 | 14.1 | 49,648 | 25,000 21,250–28,750 | 7.1 | -49.6% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Nebraska farm Nebraska Encumbered: Farmer Mac | Nebraska center-pivot irrigated Corn / soybean center-pivot | 673 | Dec 2025 | 1 | 1 | 1,486 | 10,500 8,925–12,075 | 7.1 | +606.6% | NE-IRRIGATED-2025USDA-NE-CROP-2025 UNL 2025 land survey center-pivot irrigated benchmark $10,500/acre, premium to NASS state-average $8,800 |
Nebraska farm Nebraska Encumbered: Farmer Mac | Nebraska center-pivot irrigated Corn / soybean center-pivot | 634 | Dec 2025 | 0.9 | 0.9 | 1,420 | 10,500 8,925–12,075 | 6.7 | +639.7% | NE-IRRIGATED-2025USDA-NE-CROP-2025 UNL 2025 land survey center-pivot irrigated benchmark $10,500/acre, premium to NASS state-average $8,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 629 | Dec 2024 | 14.3 | 14.3 | 22,734 | 10,500 8,925–12,075 | 6.6 | -53.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
South Carolina farm South Carolina Encumbered: MetLife #7 | South Carolina specialty Specialty / row crops | 949 | Dec 2015 | 1.4 | 2.5 | 2,634 | 5,500 4,675–6,325 | 5.2 | +108.8% | SC-COASTAL-2025USDA-SC-CROP-2025 Clemson Extension 2025 South Carolina coastal-plain cropland benchmark |
Colorado farm Colorado Encumbered: MetLife #5 | Colorado Plains dryland Dryland row crops | 2,874 | Dec 2016 | 5.5 | 5 | 1,740 | 1,800 1,530–2,070 | 5.2 | +3.5% | CO-PLAINS-DRYLAND-2025USDA-CO-CROP-2025 Eastern Colorado Plains dryland benchmark 2025 |
Colorado farm Colorado Encumbered: MetLife #7 | Colorado Plains dryland Dryland row crops | 2,873 | Dec 2017 | 5.4 | 5 | 1,740 | 1,800 1,530–2,070 | 5.2 | +3.4% | CO-PLAINS-DRYLAND-2025USDA-CO-CROP-2025 Eastern Colorado Plains dryland benchmark 2025 |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 193 | Dec 2017 | 9.8 | 9.6 | 49,741 | 25,000 21,250–28,750 | 4.8 | -49.7% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 326 | Dec 2016 | 7.8 | 7.4 | 22,699 | 13,500 11,475–15,525 | 4.4 | -40.5% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
South Carolina farm South Carolina Encumbered: MetLife #9 | South Carolina specialty Specialty / row crops | 769 | Dec 2018 | 1.1 | 2 | 2,601 | 5,500 4,675–6,325 | 4.2 | +111.5% | SC-COASTAL-2025USDA-SC-CROP-2025 Clemson Extension 2025 South Carolina coastal-plain cropland benchmark |
Colorado farm Colorado Encumbered: Rabo | Colorado Plains dryland Dryland row crops | 2,253 | Dec 2014 | 3.9 | 3.9 | 1,731 | 1,800 1,530–2,070 | 4.1 | +4.0% | CO-PLAINS-DRYLAND-2025USDA-CO-CROP-2025 Eastern Colorado Plains dryland benchmark 2025 |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 152 | Dec 2017 | 9 | 7.6 | 50,000 | 25,000 21,250–28,750 | 3.8 | -50.0% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
South Carolina farm South Carolina Encumbered: MetLife #10 | South Carolina specialty Specialty / row crops | 681 | Dec 2016 | 1.5 | 1.8 | 2,643 | 5,500 4,675–6,325 | 3.7 | +108.1% | SC-COASTAL-2025USDA-SC-CROP-2025 Clemson Extension 2025 South Carolina coastal-plain cropland benchmark |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 244 | Dec 2016 | 5.5 | 5.5 | 22,541 | 13,500 11,475–15,525 | 3.3 | -40.1% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 244 | Dec 2016 | 5.6 | 5.5 | 22,541 | 13,500 11,475–15,525 | 3.3 | -40.1% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 223 | Dec 2016 | 4.9 | 5.1 | 22,870 | 13,500 11,475–15,525 | 3 | -41.0% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 285 | Dec 2016 | 6.1 | 6.5 | 22,807 | 10,500 8,925–12,075 | 3 | -54.0% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 284 | Dec 2016 | 6.4 | 6.4 | 22,535 | 10,500 8,925–12,075 | 3 | -53.4% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
California farm California Encumbered: Farmer Mac | California permanent crops | 114 | Dec 2021 | 5.8 | 5.6 | 49,123 | 25,000 21,250–28,750 | 2.9 | -49.1% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 101 | Dec 2017 | 6.9 | 5 | 49,505 | 25,000 21,250–28,750 | 2.5 | -49.5% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 213 | Dec 2022 | 4.8 | 4.8 | 22,535 | 10,500 8,925–12,075 | 2.2 | -53.4% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Rutledge | Illinois Class-B / mixed Corn / soybean rotation | 202 | Dec 2017 | 4.6 | 4.6 | 22,772 | 10,500 8,925–12,075 | 2.1 | -53.9% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 200 | Dec 2016 | 4.5 | 4.5 | 22,500 | 10,500 8,925–12,075 | 2.1 | -53.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 192 | Dec 2016 | 4.4 | 4.4 | 22,917 | 10,500 8,925–12,075 | 2 | -54.2% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 145 | Dec 2016 | 3.2 | 3.3 | 22,759 | 13,500 11,475–15,525 | 2 | -40.7% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 169 | Dec 2016 | 3.8 | 3.8 | 22,485 | 10,500 8,925–12,075 | 1.8 | -53.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 127 | Dec 2016 | 2.9 | 2.9 | 22,835 | 13,500 11,475–15,525 | 1.7 | -40.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 157 | Dec 2016 | 3.5 | 3.5 | 22,293 | 10,500 8,925–12,075 | 1.6 | -52.9% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 154 | Dec 2016 | 3.5 | 3.5 | 22,727 | 10,500 8,925–12,075 | 1.6 | -53.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 151 | Dec 2022 | 3.4 | 3.4 | 22,517 | 10,500 8,925–12,075 | 1.6 | -53.4% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 145 | Dec 2014 | 3 | 3.3 | 22,759 | 10,500 8,925–12,075 | 1.5 | -53.9% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 145 | Dec 2016 | 3.3 | 3.3 | 22,759 | 10,500 8,925–12,075 | 1.5 | -53.9% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #7 | Illinois Class-A central corn-belt Corn / soybean rotation | 111 | Dec 2017 | 2.5 | 2.5 | 22,523 | 13,500 11,475–15,525 | 1.5 | -40.1% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 106 | Dec 2016 | 2.4 | 2.4 | 22,642 | 13,500 11,475–15,525 | 1.4 | -40.4% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 135 | Dec 2016 | 3.1 | 3.1 | 22,963 | 10,500 8,925–12,075 | 1.4 | -54.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 134 | Dec 2016 | 3.1 | 3 | 22,388 | 10,500 8,925–12,075 | 1.4 | -53.1% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 134 | Dec 2016 | 3 | 3 | 22,388 | 10,500 8,925–12,075 | 1.4 | -53.1% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 130 | Dec 2022 | 3 | 3 | 23,077 | 10,500 8,925–12,075 | 1.4 | -54.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 126 | Dec 2016 | 2.7 | 2.9 | 23,016 | 10,500 8,925–12,075 | 1.3 | -54.4% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 98 | Dec 2016 | 2.1 | 2.2 | 22,449 | 13,500 11,475–15,525 | 1.3 | -39.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 96 | Dec 2025 | 2.1 | 2.2 | 22,917 | 13,500 11,475–15,525 | 1.3 | -41.1% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 122 | Dec 2014 | 2.6 | 2.8 | 22,951 | 10,500 8,925–12,075 | 1.3 | -54.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 120 | Dec 2016 | 2.7 | 2.7 | 22,500 | 10,500 8,925–12,075 | 1.3 | -53.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 117 | Dec 2021 | 2.7 | 2.7 | 23,077 | 10,500 8,925–12,075 | 1.2 | -54.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 115 | Dec 2014 | 1.3 | 2.6 | 22,609 | 10,500 8,925–12,075 | 1.2 | -53.6% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 88 | Dec 2016 | 2 | 2 | 22,727 | 13,500 11,475–15,525 | 1.2 | -40.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 112 | Dec 2016 | 2.5 | 2.5 | 22,321 | 10,500 8,925–12,075 | 1.2 | -53.0% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 87 | Dec 2016 | 2 | 2 | 22,989 | 13,500 11,475–15,525 | 1.2 | -41.3% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 86 | Dec 2016 | 1.9 | 1.9 | 22,093 | 13,500 11,475–15,525 | 1.2 | -38.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #5 | Illinois Class-A central corn-belt Corn / soybean rotation | 84 | Dec 2016 | 1.9 | 1.9 | 22,619 | 13,500 11,475–15,525 | 1.1 | -40.3% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 107 | Dec 2022 | 2.4 | 2.4 | 22,430 | 10,500 8,925–12,075 | 1.1 | -53.2% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 107 | Dec 2016 | 2.4 | 2.4 | 22,430 | 10,500 8,925–12,075 | 1.1 | -53.2% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 82 | Dec 2016 | 1.9 | 1.9 | 23,171 | 13,500 11,475–15,525 | 1.1 | -41.7% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 82 | Dec 2016 | 1.9 | 1.9 | 23,171 | 13,500 11,475–15,525 | 1.1 | -41.7% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 77 | Dec 2016 | 1.7 | 1.7 | 22,078 | 13,500 11,475–15,525 | 1 | -38.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 74 | Dec 2016 | 1.7 | 1.7 | 22,973 | 13,500 11,475–15,525 | 1 | -41.2% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 95 | Dec 2023 | 2.1 | 2.1 | 22,105 | 10,500 8,925–12,075 | 1 | -52.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 90 | Dec 2022 | 2 | 2 | 22,222 | 10,500 8,925–12,075 | 0.9 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 70 | Dec 2016 | 1.6 | 1.6 | 22,857 | 13,500 11,475–15,525 | 0.9 | -40.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
California farm California Encumbered: Rutledge | California permanent crops Almonds / pistachios / permanent crops | 36 | Dec 2017 | 2.3 | 1.8 | 50,000 | 25,000 21,250–28,750 | 0.9 | -50.0% | ASFMRA-CA-PERMANENT-2025USDA-CA-CROP-2025 San Joaquin permanent crop ground (almonds / pistachios) — ASFMRA Cal Chapter 2025 weighted average $25K/acre across permanent crop categories |
Illinois farm Illinois Encumbered: Rutledge | Illinois Class-B / mixed Corn / soybean rotation | 81 | Dec 2018 | 1.8 | 1.8 | 22,222 | 10,500 8,925–12,075 | 0.9 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 80 | Dec 2022 | 1.8 | 1.8 | 22,500 | 10,500 8,925–12,075 | 0.8 | -53.3% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #10 | Illinois Class-A central corn-belt Corn / soybean rotation | 62 | Dec 2019 | 1.4 | 1.4 | 22,581 | 13,500 11,475–15,525 | 0.8 | -40.2% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 79 | Dec 2016 | 1.7 | 1.8 | 22,785 | 10,500 8,925–12,075 | 0.8 | -53.9% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 78 | Dec 2016 | 1.8 | 1.8 | 23,077 | 10,500 8,925–12,075 | 0.8 | -54.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 77 | Dec 2014 | 1.8 | 1.8 | 23,377 | 10,500 8,925–12,075 | 0.8 | -55.1% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 76 | Dec 2016 | 1.7 | 1.7 | 22,368 | 10,500 8,925–12,075 | 0.8 | -53.1% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 58 | Dec 2016 | 1.2 | 1.3 | 22,414 | 13,500 11,475–15,525 | 0.8 | -39.8% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 58 | Dec 2022 | 1.3 | 1.3 | 22,414 | 13,500 11,475–15,525 | 0.8 | -39.8% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 72 | Dec 2024 | 1.5 | 1.6 | 22,222 | 10,500 8,925–12,075 | 0.8 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 72 | Dec 2016 | 1.6 | 1.6 | 22,222 | 10,500 8,925–12,075 | 0.8 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 56 | Dec 2016 | 1.3 | 1.3 | 23,214 | 13,500 11,475–15,525 | 0.8 | -41.8% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 71 | Dec 2016 | 1.6 | 1.6 | 22,535 | 10,500 8,925–12,075 | 0.7 | -53.4% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 55 | Dec 2016 | 1.2 | 1.3 | 23,636 | 13,500 11,475–15,525 | 0.7 | -42.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 55 | Dec 2016 | 1.3 | 1.3 | 23,636 | 13,500 11,475–15,525 | 0.7 | -42.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 52 | Dec 2016 | 1.2 | 1.2 | 23,077 | 13,500 11,475–15,525 | 0.7 | -41.5% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 66 | Dec 2022 | 1.5 | 1.5 | 22,727 | 10,500 8,925–12,075 | 0.7 | -53.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 51 | Dec 2016 | 1.2 | 1.2 | 23,529 | 13,500 11,475–15,525 | 0.7 | -42.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Rutledge | Illinois Class-B / mixed Corn / soybean rotation | 65 | Dec 2018 | 1.5 | 1.5 | 23,077 | 10,500 8,925–12,075 | 0.7 | -54.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 50 | Dec 2016 | 1.1 | 1.1 | 22,000 | 13,500 11,475–15,525 | 0.7 | -38.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 50 | Dec 2016 | 1.1 | 1.1 | 22,000 | 13,500 11,475–15,525 | 0.7 | -38.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 50 | Dec 2024 | 1.2 | 1.1 | 22,000 | 13,500 11,475–15,525 | 0.7 | -38.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 64 | Dec 2014 | 1.5 | 1.5 | 23,438 | 10,500 8,925–12,075 | 0.7 | -55.2% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 63 | Dec 2016 | 1.4 | 1.4 | 22,222 | 10,500 8,925–12,075 | 0.7 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 63 | Dec 2021 | 1.4 | 1.4 | 22,222 | 10,500 8,925–12,075 | 0.7 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 49 | Dec 2016 | 1.1 | 1.1 | 22,449 | 13,500 11,475–15,525 | 0.7 | -39.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 48 | Dec 2016 | 1.1 | 1.1 | 22,917 | 13,500 11,475–15,525 | 0.6 | -41.1% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 47 | Dec 2016 | 1.1 | 1.1 | 23,404 | 13,500 11,475–15,525 | 0.6 | -42.3% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 46 | Dec 2016 | 1 | 1 | 21,739 | 13,500 11,475–15,525 | 0.6 | -37.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 46 | Dec 2016 | 1.1 | 1 | 21,739 | 13,500 11,475–15,525 | 0.6 | -37.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 44 | Dec 2016 | 1 | 1 | 22,727 | 13,500 11,475–15,525 | 0.6 | -40.6% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 43 | Dec 2025 | 1 | 1 | 23,256 | 13,500 11,475–15,525 | 0.6 | -41.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 43 | Dec 2016 | 1 | 1 | 23,256 | 13,500 11,475–15,525 | 0.6 | -41.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 43 | Dec 2016 | 1 | 1 | 23,256 | 13,500 11,475–15,525 | 0.6 | -41.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 43 | Dec 2016 | 1 | 1 | 23,256 | 13,500 11,475–15,525 | 0.6 | -41.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 43 | Dec 2016 | 1 | 1 | 23,256 | 13,500 11,475–15,525 | 0.6 | -41.9% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 54 | Dec 2014 | 1.1 | 1.2 | 22,222 | 10,500 8,925–12,075 | 0.6 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 54 | Dec 2016 | 1.2 | 1.2 | 22,222 | 10,500 8,925–12,075 | 0.6 | -52.8% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife #1 | Illinois Class-A central corn-belt Corn / soybean rotation | 42 | Dec 2016 | 0.9 | 0.9 | 21,429 | 13,500 11,475–15,525 | 0.6 | -37.0% | ISPFMRA-IL-CLASS-A-2025ISPFMRA-IL-CLASS-A-2024CARD-IA-CLASS-A-2025IL-AUCTION-2025-Q1USDA-IL-CROP-2025 Tier-1 Champaign/McLean/Mason corn-belt; ISPFMRA 2025 Class-A benchmark $14,500/acre, weighted slightly down for portfolio age + Q1 2025 auction comps at $12,800 |
Illinois farm Illinois Encumbered: Rabo | Illinois Class-B / mixed Corn / soybean rotation | 53 | Dec 2014 | 1.1 | 1.2 | 22,642 | 10,500 8,925–12,075 | 0.6 | -53.6% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Rabo | Illinois Class-B / mixed Corn / soybean rotation | 52 | Dec 2014 | 0.9 | 1.2 | 23,077 | 10,500 8,925–12,075 | 0.5 | -54.5% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: MetLife | Illinois Class-B / mixed Corn / soybean rotation | 46 | Dec 2016 | 1 | 1.1 | 23,913 | 10,500 8,925–12,075 | 0.5 | -56.1% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Illinois farm Illinois Encumbered: Farmer Mac | Illinois Class-B / mixed Corn / soybean rotation | 42 | Dec 2014 | 1 | 0.9 | 21,429 | 10,500 8,925–12,075 | 0.4 | -51.0% | ISPFMRA-IL-CLASS-B-2025USDA-IL-CROP-2025IL-AUCTION-2024-Q4 Mid-quality central Illinois ground; Illinois Society 2025 Class-B benchmark $11K/acre, USDA NASS state-average $10K |
Comparable land transactions and surveys
27 reference points · all dated within last 24 months| ID | Description | Location | Acres | $ / acre | Date | Source |
|---|---|---|---|---|---|---|
| FPI-DISP-2025 | FPI's own 2025 dispositions: 60 properties for $90.2M aggregate consideration; net gain $34.9M implies sales above book | FPI portfolio (disposed 2025) | — | $7,100 | Dec 2025 | FPI Q4 2025 earnings release |
| CARD-IA-CLASS-A-2025 | Iowa State CARD Class-A high-quality cropland | Iowa Class-A | — | $14,400 | Dec 2025 | Iowa State CARD 2025 Land Value Survey |
| USDA-IL-CROP-2025 | Illinois cropland — USDA NASS state average | Illinois | — | $10,000 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-IA-CROP-2025 | Iowa cropland — USDA NASS state average | Iowa | — | $11,750 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-NE-CROP-2025 | Nebraska cropland — USDA NASS state average | Nebraska | — | $8,800 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-CA-CROP-2025 | California cropland — USDA NASS state average | California | — | $13,200 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-LA-CROP-2025 | Louisiana cropland — USDA NASS state average | Louisiana | — | $4,500 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-TX-CROP-2025 | Texas cropland — USDA NASS state average | Texas | — | $3,000 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-CO-CROP-2025 | Colorado cropland — USDA NASS state average | Colorado | — | $2,500 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-SC-CROP-2025 | South Carolina cropland — USDA NASS state average | South Carolina | — | $4,800 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-MO-CROP-2025 | Missouri cropland — USDA NASS state average | Missouri | — | $5,500 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| USDA-IN-CROP-2025 | Indiana cropland — USDA NASS state average | Indiana | — | $9,650 | Aug 2025 | USDA NASS Land Values 2025 Summary |
| ASFMRA-CA-PERMANENT-2025 | California San Joaquin permanent crops weighted average | San Joaquin Valley, CA | — | $25,000 | Apr 2025 | ASFMRA Cal Chapter Outlook 2025 |
| CO-PLAINS-DRYLAND-2025 | Eastern Colorado Plains dryland | Eastern Colorado | — | $1,800 | Apr 2025 | Colorado Plains Ag Real Estate 2025 |
| SC-COASTAL-2025 | South Carolina coastal-plain cropland | South Carolina | — | $5,500 | Apr 2025 | Clemson Extension SC land report 2025 |
| IL-AUCTION-2025-Q1 | Q1 2025 central Illinois farmland auction averages | Central Illinois | — | $12,800 | Mar 2025 | Hertz / Sullivan / Murray Wise farmland auction reports |
| IA-AUCTION-2025-Q1 | Q1 2025 Iowa Class-A farmland auction averages | Central Iowa | — | $13,900 | Mar 2025 | Iowa farmland auction reports Q1 2025 |
| ISPFMRA-IL-CLASS-A-2025 | Illinois Class-A central-IL premium ground | Champaign / McLean / Mason, IL | — | $14,500 | Mar 2025 | Illinois Society of Professional Farm Managers 2025 Land Values Conference |
| ISPFMRA-IL-CLASS-B-2025 | Illinois Class-B central-IL average ground | Central / Western Illinois | — | $11,000 | Mar 2025 | Illinois Society of Professional Farm Managers 2025 |
| NE-IRRIGATED-2025 | Nebraska center-pivot irrigated cropland | Central Nebraska | — | $10,500 | Mar 2025 | University of Nebraska-Lincoln 2025 land survey |
| IL-AUCTION-2024-Q4 | Q4 2024 Illinois farmland auction averages | Illinois | — | $12,500 | Dec 2024 | IL ag-real-estate Q4 2024 |
| CARD-IA-CLASS-A-2024 | Iowa State CARD Class-A high-quality cropland | Iowa Class-A | — | $13,200 | Dec 2024 | Iowa State CARD 2024 Land Value Survey |
| TX-HIGH-PLAINS-DRYLAND-2024 | Texas High Plains dryland (cotton/wheat/sorghum) | Texas High Plains | — | $2,800 | Nov 2024 | Texas A&M AgriLife real-estate report |
| MO-CROPLAND-2024 | Missouri Bootheel / Northwest cropland | Missouri | — | $6,500 | Oct 2024 | University of Missouri Extension 2024 land report |
| LA-SUGARCANE-2024 | Louisiana sugarcane belt cropland | Louisiana sugarcane region | — | $5,200 | Sep 2024 | LSU AgCenter sugar industry land report |
| USDA-IL-CROP-2024 | Illinois cropland — USDA NASS state average | Illinois | — | $9,650 | Aug 2024 | USDA NASS Land Values 2024 Summary |
| ISPFMRA-IL-CLASS-A-2024 | Illinois Class-A central-IL premium ground | Champaign / McLean / Mason, IL | — | $13,500 | Mar 2024 | Illinois Society of Professional Farm Managers 2024 Land Values Conference |
Methodology
FPI's 121 Schedule III line items are mapped to 10 valuation clusters by state and ground quality. Each property carries an explicit per-acre FMV backed by 2-5 cited comparables — all dated within the last 24 months (cutoff May 2024). The "FMV by category" table at top is fully derived from this per-property analysis. Primary comp sources, all 2024-2025 dated: - USDA NASS 2025 Land Values Summary (published August 2025) for state-average cropland anchors - Iowa State CARD 2024 + 2025 Land Value Surveys for Class-A Midwest premium benchmarks - Illinois Society of Professional Farm Managers 2024 + 2025 Land Values Conference for Class-A vs. Class-B Illinois ground - Recent Q4 2024 / Q1 2025 farmland auction reports (Hertz, Sullivan, Murray Wise) - State-specific industry reports (LSU AgCenter, Texas A&M AgriLife, UNL, Clemson Extension, Mizzou Extension) - FPI's own FY2025 disposition pricing ($7,100/acre weighted across 60 properties / $90.2M) as the residual aggregate benchmark Illinois Class-A is the cluster that drives most of the FMV picture — properties encumbered by MetLife loans (footnotes c/e/f/g/h/i/j) sit on tier-1 central-Illinois ground that ISPFMRA 2025 prices at $14,500/acre. The FMV/acre of $13,500 used here weights that benchmark slightly down for portfolio mix and consistency with 2025 auction comps. The 60-farm "Other" aggregate is conservatively marked at FPI's actual 2025 sale price, which is the most defensible reference point for that residual. The implied NAV/share at FMV deducts net debt (debt + Series A pref RNCI − cash) and divides by 43.1M diluted shares. The premium-to-book is structurally tighter than LAND because Midwest row-crop tracks closer to USDA-published state averages than California permanent crops do. PER-PROPERTY CAP RATES (latest pass): Each FPI property now carries a cap rate range matched to its cluster (Illinois Class-A 3.0-4.0%, Texas dryland 6.0-8.5%, etc.). The NOI cross-check FMV-weighted-averages these across the portfolio to derive a defensible issuer-level benchmark, replacing the prior keyword-based "US row-crop 3.5-4.5%" single range. The mix-weighted result better reflects FPI's actual geographic footprint (which spans tier-1 Class-A through Texas High Plains dryland).
Insider transactions
As of 2026-05-07 · last 25 of 50 Form 4 filingsTTM buys
$249.5K
TTM sells
$0
TTM net
$249.5K
Insiders active TTM
8
| Date | Insider | Role | Action | Shares | Price | Value (USD) | Remaining |
|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Good John A | Director | Vest | 3,986 | $11.54 | $46.0K | 19,086 |
| Apr 28, 2026 | Sherrick Bruce J | Director | Vest | 3,726 | $11.54 | $43.0K | 31,726 |
| Apr 28, 2026 | Moore Danny D. | Director | Vest | 3,726 | $11.54 | $43.0K | 27,433 |
| Mar 4, 2026 | Pittman Paul A | Director, Executive Chairman | Other | 7,010 | $12.97 | $90.9K | 1,648,223 |
| Mar 4, 2026 | Fabbri Luca | Director, President and CEO | Other | 3,903 | $12.97 | $50.6K | 373,521 |
| Mar 4, 2026 | Garrison Christine M. | General Counsel and Secretary | Other | 892 | $12.97 | $11.6K | 40,406 |
| Feb 24, 2026 | Pittman Paul A | Director, Executive Chairman | Other | 2,142 | $12.62 | $27.0K | 1,655,233 |
| Feb 24, 2026 | Fabbri Luca | Director, President and CEO | Other | 4,483 | $12.62 | $56.6K | 377,424 |
| Feb 24, 2026 | Garrison Christine M. | General Counsel and Secretary | Other | 2,049 | $12.62 | $25.9K | 41,298 |
| Feb 24, 2026 | Grafton Jennifer S | Director | Buy | 1,600 | $12.36 | $19.8K | 13,600 |
| Feb 18, 2026 | Pittman Paul A | Director, Executive Chairman | Other | 1,694 | $0.00 | — | 1,657,375 |
| Feb 18, 2026 | Fabbri Luca | Director, President and CEO | Other | 4,497 | $0.00 | — | 381,907 |
| Feb 18, 2026 | Garrison Christine M. | General Counsel and Secretary | Other | 1,200 | $0.00 | — | 43,347 |
| Feb 18, 2026 | Landi Susan M. | Chief Financial Officer | Other | 429 | $0.00 | — | 13,800 |
| Feb 17, 2026 | Pittman Paul A | Director, Executive Chairman | Vest | 26,519 | $0.00 | — | 1,659,069 |
| Feb 17, 2026 | Pittman Paul A | Director, Executive Chairman | Option grant | 3,806 | $0.00 | — | 19,895 |
| Feb 17, 2026 | Fabbri Luca | Director, President and CEO | Vest | 39,304 | $0.00 | — | 386,404 |
| Feb 17, 2026 | Fabbri Luca | Director, President and CEO | Option grant | 5,641 | $0.00 | — | 17,047 |
| Feb 17, 2026 | Garrison Christine M. | General Counsel and Secretary | Vest | 10,958 | $0.00 | — | 44,547 |
| Feb 17, 2026 | Garrison Christine M. | General Counsel and Secretary | Option grant | 1,572 | $0.00 | — | 4,391 |
| Feb 17, 2026 | Landi Susan M. | Chief Financial Officer | Vest | 3,652 | $0.00 | — | 14,229 |
| Feb 17, 2026 | Landi Susan M. | Chief Financial Officer | Option grant | 524 | $0.00 | — | 1,056 |
| Dec 15, 2025 | Good John A | Director | Buy | 3,000 | $10.20 | $30.6K | 15,100 |
| Nov 10, 2025 | Good John A | Director | Buy | 4,100 | $9.69 | $39.7K | 12,100 |
| Aug 14, 2025 | Sherrick Bruce J | Director | Buy | 8,000 | $10.76 | $86.1K | 28,000 |
Source: SEC EDGAR Form 4 (Statement of Changes in Beneficial Ownership) filings. Buy / Sell figures exclude option exercises, grants, vests, gifts, and tax-withholding events. Click an insider's name to open the underlying Form 4 filing.
Financial snapshot
30 reported periods · 2513 daily price points
USD 9.76
Jun 16, 2016 → Jun 15, 2026 · Daily local-currency close, with year-end shares outstanding on the right axis.
Shares outstanding (M)
48K acres
Share priceShares outstanding (M) (right axis)
Reported metrics (revenue, EBITDA, property value, NAV/share, total acres) come from content/farmland-financials/FPI.json — manually compiled at the most-granular timeframe each issuer discloses (typically quarterly). Stock price overlay and premium/discount on the NAV/share chart use daily Yahoo close; premium/discount steps each time NAV is re-reported.
Sector trends
3 populated KPIs · 2014–2024
0.50%
Dec 31, 2014 → Dec 31, 2024 · 11 pts
First → Latest
0.09% → 0.50%