OP,
as a fellow midwestern'er and HVAC/Plumbing contractor, I can vouch for the energy savings of a "geo" unit in our parts. You are a little further north so YMMV. However, the great benefits to geo units are the fact that instead of ambient air circulating around an "outdoor unit", you are using a way more effective media to dissipate and absorb "heat" (water).
this allows for a very energy efficient AIR CONDITIONER. Where "geo" units lack a bit for us in the colder climates, is the heating side.
air to air heat pumps ( the ones that a person normally sees with an outdoor unit above ground) will drastically lose operational efficiency and productivity at and below 30-35 degrees F (depending on humidity). But can work effectively above those temperatures. A geothermal system allows for that compressor to be operating in its "wheelhouse" of 50 degrees all the time. This would potentially be kicking out anywhere from 105 degree outlet air, up to, maybe 120 deg. if you are fortunate.
in contrast, a high efficiency gas furnace would be somwhere around 135-145 (depending on temp rise furnace is rated for) so in IA and your northern neighbors, a gas furnace would help heat a home a bit better in the darkest, coldest times of the year.
recap: geothermal is an EXCELLENT cooling system as that compressor will pull less amps (equals less energy cost) and produce satisfactory results.
a geothermal system may not adequately heat the home in the dead of winter and will subsequently require some "back-up" source to aid in the additional heating requirements. This is typically done with resistance heat and that will cost more than a gas furnace, operationally.
disclaimer: all homes are not equal, nor the locations. A manual J heat load calc will be required for proper sizing. I also agree, deep well-type piping schematics are much better than horizontal runs due to available real estate. Things to consider is soil composition and typical moisture levels in said soil. That is usually the limiting factor on design.
hope that helps and doesn't muddy the water too much...