Type: Dirt
Agent: Jerry Schlagel
Company: Grant Real Estate
Platteville, Colorado
Price: $ 9,000,000 Featured: No
PLATTEVILLE ‘HERMAN’ FARM
498 ACRES – 300 acres, irrigated. Balance in pasture. 1-1/8 shares of Platteville Irrigating & Milling Company (approximately 325 acre feet) Two 1500 GPM wells on property (shut down last year by Department of Water Resources). In the process of re-augmenting. Some use of wells possible this year. Property can be acquired one of three ways:
Ø Land only: $3,430,000
Ø Land & Mineral Rights: $4,930,000
Ø Land, Mineral & Water Rights: $9,000,000
Seller would prefer retaining main residence and three acres.
Irrigation water rights have a monetary value of $10,000.00 an acre foot, but that figure is expected to rise when the usage is converted from agriculture to municipal use. Could rise as high as $15,000 an acre foot.
Gas royalties from 18 gas wells on the property will exceed $165,000 for 2007. Two more wells are expected to be drilled shortly with royalties expected to exceed $200,000.00.
Three circular sprinklers irrigate the farm. Some improvements on farm are an older 1100 square foot 2 bedroom home, old barn, 12,000 bushel grain storage bin with blow dryers.
Farm has 40 acres on west side of Highway 85 and approximately 460 acres on the east side of Highway 85.
Highway 85 corridor from Greeley into Denver could be the next high traffic area for land development. Tremendous upside and priced below prime development areas along the front range.
LEGAL DESCRIPTION:
SE ¼, SEC 32, 3N, 66W
SW ¼, SEC 32, 3N, 66W
E ½, SEC 31, 3N, 66W
