Tyler Sellens: Illinois Hunting Property Market Going Strong and Not Expected to Slow Down

When Illinois broker Tyler Sellens guides sellers about how to get the most money for their property, he usually suggests listing recreational properties, like hunting grounds, as an example. He steers people to auctions for tillable farm properties. But one of his most recent sales in Pittsfield was unique because it had both features.

“It was a good combination for somebody that wanted a rec farm on one side and incoming producing land on the bottom to really get a good return on your investment,” Sellens told American Farmland Owner.

Tyler Sellens bio:

• Land specialist – Whitetail Properties, Hamilton, Illinois

• Auction Associate – Sullivan Auctioneers LLC

• Sales – Bass Pro Shops

• Volunteer Firefighter – Hamilton Volunteer Fire Department

  
  

Sellens sold the land as a listing and got fair market value, something that didn’t come as a surprise. Sellens said even with higher interest rates in recent years and traditional farmland values dipping slightly, the recreational land market remains strong.  

“Land values have climbed exponentially over the last five years, and we continue to have low inventory and high demand, which continues to drive the recreational price up. We have seen that climb year over year,” he said.  

Sellens sells property in several counties in West Central Illinois. The past year was strong. Sellens said that the company recorded $3.4 billion in sales in 43 states around the country. Whitetail specializes in recreational ground, and Sellens said it appeals to people for a lot of reasons. 

Building wealth is often at the top of the list.  “They look at it as diversification. It’s not just stocks but dirt. People are finding that dirt is the safest and one of the better investments,” said Sellens describing his clients.  

RELATED: Here is an American Farmland Owner story that explains the popularity of gaming ranches and hunting all across the United States. 

Land Values in Illinois

And it’s not just Sellens who reports this segment of the real estate market is doing well. The Illinois Society of Professional Farm Managers and Rural Appraiser puts out its annual Farmland Values and Lease Trends Report. And the organization’s numbers say the same thing.

The total value per acre of recreational land in the western region of Illinois, where the property was located, was $6,600 per acre for 2024. That is a 10% increase from the previous year. The property in Pittsfield sold for well over that amount, at $7,500 an acre. 

This is what the authors of the report also said about sales in the western region of Illinois: 

“The recreational market in 2024 remained exceptionally strong, driven by a continued imbalance between demand and available inventory. Prices steadily increased throughout the year, with record sales being broken regularly due to the combination of limited supply and strong demand. Buyers were often willing to pay above market value just to secure a property, further pushing prices upward.” 

The authors also suggest property size is a leading driver in increased values of recreational land:

“In terms of property size, smaller tracts - those under 40 acres have continued to command a premium due to their appeal to a broader range of buyers. However, the demand for larger tracts of land has also risen sharply. Larger properties, especially those with unique features or prime locations, are becoming increasingly harder to come by, which is pushing their prices even higher, demanding a premium of their own that was not previously evident in the market. Looking ahead to 2025, it is likely that the trends of 2024 will continue.”

Buyers Are Upgrading 

Joe Dierker owns First Harvest Land Exchange LLC, a company that helps buyers use 1031 tax deferred exchanges to find new property. He agrees that the recreational market keeps growing.

“We see a tremendous amount of real estate transactions locally and across the United States,” Dierker said. “Locally, inventories are down, and land values are as strong as they’ve been in 10 years.”

Why does he think recreational properties are so popular right now? He offers a couple of explanations. 

First, hunting is big business in West Central Illinois, where people come from all over the country to hunt deer. The Illinois Office of Tourism lists the area as one of the best in the country for trophy white-tailed deer.

Second, people who buy recreational properties tend to keep the properties for a much shorter period of time, compared to traditional farmland owners who may keep the property for decades. Dierker said, “They are always in the mindset of looking for that better farm.”

In other words, they are always on the hunt for an upgrade.

Third, Dierker believes buyers are concerned about the future of tax laws and what will happen with the economy. He said that motivates people to buy property as a safe investment.