Why We Love Buying Illinois Land in Cash

Known as the “Prairie State” for good reason with over 55,000 square miles of sprawling countryside, Illinois ranks as one of the most agriculturally productive national breadbaskets thanks to incredibly rich soil. Recent statistics show roughly 26 million total acres dedicated to harvesting row crops like corn and soybeans annually, plus livestock grazing lands dotting the landscape as well from densely populated Chicagoland suburbs to quiet Mississippi River hamlets. For investors and self-directed IRA holders seeking stable havens to park money whether looking to flip properties near developing exurban zones or sit longer-term on appreciation plays, buying affordable Illinois land for cash provides promising options without financing contingencies that complicate deals.

Top Reasons for Buying Illinois Land with Cash

While every investor weighs ideal assets differently when designing their portfolio’s risk/reward balance, key advantages abound when acquiring Illinois vacant plots, farms and recreational acreage using cash versus loans currently.

Gain Negotiating Leverage

Cash offers prove extremely attractive to rural landowners given quick sales without red tape, no worries over buyers failing to secure traditional financing, and immediate payouts to fund retirements or shift investment focus. Owners also avoid double commissions when selling directly to cash buyers sans agents. These dynamics allow investors not reliant on mortgages to negotiate better terms.

Bet on Appreciation

While Illinois may lack geography variety from mostly flat plains, what the state lacks in peaks it makes up for in rich black soil fertility. Major row crops thrive here even as climate change impacts other Midwest and Plains harvest yields. And where crops flourish, land values rise. Appreciation plays near expanding communities also pay off long run.

Tap Into Tax Incentives

From federal opportunity zones promising capital gains sheltering to agricultural exemptions, local property tax breaks add up on Illinois land supporting cattle herds or crops - especially when entities like self-directed IRA companies acquire acreage. Consult specialists to leverage incentives.

Buffer Inflation

With Midwest farmland values rising steadily plus developmental demand escalating for parcels flanking booming Chicago metro suburbs as populations spill over into satellite towns with appealing local vibes, Illinois land presents an inflation hedge while providing other ROI channels.

Retire or Relocate Eventually

Whether seeking second homes for future northern Illinois lake living parallel to Wisconsin border country getaways or idyllic solo acreage off grid hiding spots for those done with urban life, owning dirt in appealing locales for eventual relocation/retirement hedges costs against housing bubbles while locking in pastoral places to unwind later in life.

Top Illinois Regions First-Time Cash Buyers Target 

Weighing where to start Illinois land investing given varied budget and strategy factors? Typical areas cash buyers eye include:

Northwest Chicago Suburbs 

Plots an hour of Chicago positioned for residential development/reinvestment in satellite cities with industries and desirable amenities still more affordable than Cook County prove popular like DeKalb County.

Central Illinois Farmland

Major crop production zones, predominantly corn and soybeans, offer relatively low buy-in costs for acreage still proving income potential till able to flip to likely commercial farmers seeking to expand operations through sales or long-term leases.

Western Illinois Recreational

Lands flanking the Great Rivers Scenic Route near the Mississippi and Illinois River backwaters deliver nearby access from Quad Cities westward over toward artsy Quincy offering outdoor enthusiasts great fishing, hunting and foraging terrain holding value and lifestyle appeal.

Southern Illinois Wine Trails 

Shawnee National Forests mingling with over a dozen blossoming wineries surrounding college hub Carbondale deliver investment appeal mixing weekend adventuring getaways with securing land before viticulture and tourism fully flourish.

What to Consider When Buying Illinois Land for Cash

While every investor weighs financial pros/cons differently when evaluating assets for portfolio balancing, common considerations most cash buyers evaluate include:

• Plot accessibility factors easing or impeding development like wooded cover or wetlands
• Total acreage and survey maps confirming existing boundaries and easements
• Roadway frontage opportunities to subdivide properties over time
• Planning commission outlook on zoning changes possible weighing commercial potential
• Area recent sell prices for income-producing cropland/timberland
• Property tax rates by county and trajectories the next decade

Weigh the above dynamics and align with your investing strategy and budget to identify ideal Illinois land parcels for purchase delivering reliable returns, appreciation upside and an inflation hedge for protective wealth allocation.

Final Words

From recreational remote plots flanking the Great Rivers region to fertile croplands of DeKalb County where corn and soybeans flourish, Illinois offers diverse land investment opportunities. Cash buyers unlock advantages negotiating deals directly with often rural owners while leveraging tax incentives. Plus positioning early for appreciation bets around fast-growing Chicago metro suburbs spreading toward smaller satellite cities provides stable inflation hedging for protective portfolio allocation whether aiming to develop, lease for income or hold for future relocation. Weigh all dynamics from parcel accessibility to local zoning trajectories when buying Illinois land for cash and enjoy rewarded patience as the market unfolds.

Frequently Asked Questions (FAQs)

What advantages does buying Illinois land for cash provide versus financing?

Cash deals allow negotiating leverage, quicker closings, flexibility for owners on sale timing, and avoidance of red tape/approval processes complicating mortgages.

What tax incentives apply to vacant Illinois land investments? 

Opportunity zone designation per the federal program in approved counties allows capital gains sheltering on investments. Lower agricultural property taxes also incentivize cropland and livestock grazing uses keeping rates minimized.

Which Illinois regions offer recession-resistant land investing currently? 

Areas displaying consistent population and business growth even despite prior broader economic slowdowns - like the Northwest Chicago suburbs and areas by Peoria/Quad Cities buoyed by infrastructure/industries attracting resident influx.

What characteristics make Illinois lands good for recreational investing? 

Western regions near the Mississippi/Illinois River backwaters deliver fishing, hunting, hiking and foragingland appeals drawing weekend adventurer interest for cabin getaways amid gradual tourism development.

Which Illinois counties show highest farm acreage value appreciation lately?

Top counties where row crop prices drive commodity farmland valuation gains the past decade include McLean, Champaign and Piatt - with recent yearly price growth between roughly 8-15% in predominant growing zones.

Does self-directed IRA investment in Illinois land offer advantages? 

Yes, buying agricultural land, cattle grazing acreage or development parcels through IRA vehicles allows tax deferment on returns while compounding gains for later worry-free life. Consult financial advisors on structuring.

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