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Vacant Land - Hillview, IL
Hillview tillable acreage. This 168+ tract, located just west of Hillview in the Greene County Bottoms, boasts almost 100% tillable acres. Ideal for an investor, this farm is being sold with a long-term cash rent lease at $400/ac. Additionally, the owner would negotiate a buy-back at $2,000/ac higher contract, securing a level of appreciation and a future exit for an investor. Investment Analysis (Estimated) Asking Price: $2,191,150$400/ac cash rent: $67,200Annual Taxes: $3,450Gross Cap Rate: 2.91%Potential Buy Back Option (3-5 year): $2,527,150Potential Gross Profit: $527,250Potential Gross IRR (Annualized): 7.65% The farm does have center-pivot irrigation that will go with the sale. The land has over 2500' of frontage on the north end, allowing for easy loading operations. Yield data shows an average corn harvest at or above 200 bu/ac. This is a unique opportunity to purchase a farm...
Hillview tillable acreage. This 168+ tract, located just west of Hillview in the Greene County Bottoms, boasts almost 100% tillable acres. Ideal for an investor, this farm is being sold with a long-term cash rent lease at $400/ac. Additionally, the owner would negotiate a buy-back at $2,000/ac higher contract, securing a level of appreciation and a future exit for an investor. Investment Analysis (Estimated) Asking Price: $2,191,150$400/ac cash rent: $67,200Annual Taxes: $3,450Gross Cap Rate: 2.91%Potential Buy Back Option (3-5 year): $2,527,150Potential Gross Profit: $527,250Potential Gross IRR (Annualized): 7.65% The farm does have center-pivot irrigation that will go with the sale. The land has over 2500' of frontage on the north end, allowing for easy loading operations. Yield data shows an average corn harvest at or above 200 bu/ac. This is a unique opportunity to purchase a farm with a good cap rate & IRR, long-term tenant, and even a potential opportunity to contract a future sale.
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