Investors Delight

Description

L2 Realty Inc. is honored to represent SEKOR LLC, in bringing this exceptional 260.55 acre tillable farm and major oil producer to auction.  With 192.71 acres of total tillable farmland per FSA records and $18,705 worth of oil royalty income last year alone it is extremely hard to find a parcel such as this that would be able to match its ROI. 

If you have been looking for that perfect investment opportunity look no further as this farm is made up of 84% of desirable class 2 soils consisting of Lanton silty clay loam, Osage silty clay loam, and Dennis silt loams.  The remaining 16% of the farm is made up of class 3 soils consisting of Osage silty clay and Kenoma silt loam respectively.  The tillable acres are well-suited for diverse crop production, making this property both a productive farming asset and a solid investment.  Now let's get to the added bonus.  This property includes a 1/8th oil royalty lease with Colt Energy, which generated $18,705 in 2023. This lease offers a reliable additional income stream and enhances the overall return on investment.

This farm combines the best of both worlds—profitable agricultural operations with valuable oil royalty income. Whether you're an established farmer or an investor looking to diversify your assets, this property presents an exceptional opportunity.  The location and layout of this farm makes it even more attractable.  This parcel is located just 1/2 mile east of Leroy, KS on the south side of Highway 58 offering easy access for implements to and from the farm and at the time of harvest allowing for convenient transportation to the nearest elevator. 

As for the recreational enthusiast you will see that Crooked Creek runs the entire length of the property.  The diverse mix of mature hardwoods and an ample supply of water from the creek offers superb habitat for whitetail deer and turkeys that call this farm home.  When zooming out you will also see that this farm connects all the big block timber to the north and the south making it the perfect corridor for deer year after year.  During waterfowl season many ducks and geese are known to feed in this area offering more recreational opportunities.

Whether you are looking to add to your current agricultural operation with this farm or begin a new one providing income for years this farm checks all the boxes.  Properties like this typically don't hit the open market, don't miss your opportunity to own this top producer. Give Preston Frazell a call to take a look at 620-363-1345 or email at pfrazell@l2realtyinc.com.

Directions 

From Leroy:  Take highway 58 headed east out of Leroy for 1/2 miles and the farm will be on the south side of the road.

Soil Map: https://id.land/ranching/maps/ad347a9d848cd06e3193246f2fff9562/share 

Property Highlights:

Oil royalty alone paid $18,705 in 2023.

192.71 total tillable acres per FSA.

84% of the acres made up of class 2 soils with the remaining 16% being in class 3 soils

1/2 miles from the Leroy coop offering seed and elevator services

1/2 mile off highway 58 for easy implement access

Excellent deer and turkey hunting 

1 hour 20 minutes from Olathe, KS

2 hours from Wichita, KS

ONLINE & LIVE. Online bidding will open at 10am CST on Wednesday October 23, 2024 and the live auction will begin at 6pm CST on Wednesday October 23, 2024 at the Leroy Community Building in Leroy, KS.  The Leroy Community Building address is 713 California St. Leroy, KS 66857.  Bidding will be conducted via online, by phone, or in person. Download our app “L2 Realty Auctions” or go to https://l2realtyinc.bidwrangler.com/ui to keep up and place bids. The auction will conclude upon closing of the live bidding.

There WILL NOT be a buyers premium added to the high bid to determine the contract price. Closing fee and title insurance fee will be split 50/50 between seller and buyer.

The property is selling subject to a reserve.

Bids submitted shall be “firm bids” available for sellers acceptance and without contingencies. Interested buyers need to view the property prior to the date of the auction and have financing approval along with any inspections performed prior to bidding.

Final sales price will be calculated by 260.55 acres times the final bid.

Upon acceptance of a bid by seller, the real estate contract will be provided by the seller’s agent to the successful bidder promptly, and the termed contract shall be executed by the successful bidder and tendered to the seller’s agent within 24 hours of the close of the auction. The earnest deposit in the amount of 10% of the final sale price will be tendered to Security 1st Title within five (5) days of notification and acceptance. Remaining balance due at the time of closing. 

Closing of the sale bid purchase will be conducted on or before November 27, 2024 at where time seller shall deliver possession.    

Selling subject to easements, restrictions, roadways and rights of way. Preliminary title work included.

Boundary property lines pictured are approximated for reference only. There will be no guarantee on any fence or property lines as the selling is of the legal description only.

Property is selling “as is” condition and is accepted by the buyer without any expressed or implied warranties.

All terms announced the day of the auction take precedence over any other advertising.