New survey data from the Illinois Society of Professional Farm Managers and Rural Appraisers (ISPFMRA) points to a steady and resilient leasing environment across Illinois farmland—an important signal for landowners, operators, and investors watching the Midwest market. As one of Land Sales Bulletin’s 10 Midwest reporting states, Illinois continues to demonstrate strong rental demand even as broader price expectations soften.
Cash Rents Hold Firm in 2026 – Survey results show that professionally managed farmland maintained strong cash rent levels for 2026.
- Excellent soils: Middle-third rents average $375/acre, with top-tier agreements reaching $400/acre.
- Good soils: Average $325/acre.
- Average soils: $273/acre.
- Fair soils: $200/acre.
Despite slight declines in 2025 landlord incomes—particularly on cash‑rented acres—operators continue to compete aggressively for high‑quality ground, keeping rents elevated across productivity classes.
Leasing Performance in 2025 – Returns varied by lease structure:
- Custom farming delivered the highest 2025 returns at $375/acre on excellent soils.
- Cash rent averaged $300/acre.
- Crop share averaged $250/acre, buoyed by strong yields and lower input costs.
These dynamics help explain why cash rents remain strong even as land values show signs of leveling.
Expectations for 2027 – Farm managers express cautious optimism:
- 67% expect 2027 cash rents to remain unchanged from 2026.
- 9% anticipate increases.
- 24% foresee modest softening.
Overall, the data points to a stable leasing market with limited downside pressure.
Why This Matters for Midwest Land Professionals
Illinois—one of our core reporting states—continues to set the tone for leasing trends across the Corn Belt. Strong operator demand, tight supply of high‑quality acres, and steady income expectations reinforce the importance of finalized sales and rental data when evaluating market conditions.
Land Sales Bulletin will continue monitoring Illinois and our broader 10‑state Midwest region to provide transparent, county‑level insights for buyers, sellers, and ag professionals. Read the full report: Illinois Cash Rents and Leasing Expectations Through 2027 – farmdoc daily
Report Download: Illinois Cash Rents and Leasing Expectations Through 2027