[gduplessy]

That really depends where you live, since this thread is about Colorado:

>The 2021 Colorado average farmland real estate value, a measurement of the value >of all land and buildings on farms, was $1,610 per acre. This is an increase of >1.3 percent from 2020 and 2.5 percent from 2019.

So we're talking $3.2mm today and by what the person you replied to said, I'm betting that his family bought that land a very long time ago.

I'm not a farmer by any means, but I just did a quick search for land in Colorado and I'm even seeing ~2,400 acres on sale for $1.7mm today. There's 15,000 acres listed for $2.1mm. I mention not being a farmer because I don't know if those lands are viable for anything.