The current market value of Illinois land for cash sales can vary greatly depending on a multitude of factors. These factors include location, size, zoning restrictions, and potential for development.

 

In desirable areas such as Chicago or the suburbs, land prices can be quite high due to the demand for housing and commercial properties. On the other hand, in more rural areas, land prices may be lower due to less demand and limited development opportunities.

 

 

Overall, the average price per acre of land in Illinois is around $6,500 according to recent data. However, this number can fluctuate significantly based on the aforementioned factors.

 

 

It's important to note that cash sales typically result in a lower sale price compared to traditional financing methods, as sellers are often looking for a quick and hassle-free transaction. This means that buyers with cash on hand may be able to negotiate a better deal on Illinois land compared to those needing financing.

 

 

Ultimately, determining the current market value of Illinois land for cash sales requires careful research and consideration of all relevant factors. It's always advisable to consult with a real estate professional who has experience in the local market to ensure you are getting a fair deal.