Farmland Partners has purchased 280 acres of farmland in Illinois for $3.4 million.
The corn and soybean farm is located in Will County, which is southwest of Chicago. It is the second farm in the county that the company has acquired this year.
“FPI is in growth mode, and we are excited to add this asset to our portfolio,” said FPI Chairman and CEO Paul Pittman. “There is a good tenant in place, and the productive farm is located in a strong market.”
FPI is the nation’s largest publicly traded farmland REIT by U.S. acreage.