The Thomas Land Property will now be going to Auction on December 1st, please see the Auction Listing at http://www.hallhall.com/ranches-for-sale/properties/thomas-land-company-0
Thomas Land Company (TLC) offers for sale a safe and secure investment in 26,733± deeded acres of prime Nebraska farm and ranchland. This remarkable opportunity is located in Keith, Perkins and Deuel counties near the historic town of Ogallala.
The 11,737± hard grass ranch lies along the west shoreline of Nebraska’s largest lake. Magnificent views, outstanding improvements, lush grass and hay plus utilization of crop aftermath for 1,250 cow-calf pairs make this an outstanding ranch opportunity.
TLC also includes about 11,641± non-irrigated high quality row crop – wheat rotation land. TLC also offers a 27 center pivot irrigated farm. High quality soils between the North and South Platte Rivers are supported by the world’s second largest aquifer… the Ogallala aquifer, a highly valued natural resource underlying parts of eight states - and nearly all of Nebraska.
This is one of the world’s remarkable ag land assemblages. Located on both sides of Interstate 80, the headquarters are 200 miles from Denver International Airport and 325 miles from Omaha.
Crop production on TLC’s lands is amongst the best in this part of North America’s Bread Basket. Corn, wheat and soybeans provide strong returns to the investor in this valuable land.
Twenty-seven center pivot irrigation systems water the irrigated corn and soybean land. Outstanding grain drying and storage facilities round out the operation.
The three segments of Thomas Land Company: Ranch, Irrigated and Non-irrigated crops, will each stand alone as a separate enterprise. Synergized, they make a package investment unparalleled in the land market of North America for many years.
TLC’s land lies nearby, or adjacent to, Interstate 80 and U.S. Highway 26 and State Highway 61. Lake McConaughy lies adjacent to the Ranch. Ogallala, its hospital, its airport and many commercial and social amenities are a short distance from the property. Denver (3 hours), Omaha (5 hours) and Cheyenne (2.5 hours) are handy destinations.
Ogallala is the center of western Nebraska’s major farming and ranching area. It lies between the North and South Platte Rivers. It is on the edge of the renowned Sand Hills ranching country and is blessed by abundant underground water resources as well as a consistent climate favoring dryland crop and grass production.
The ranchland offered by TLC overlooks the largest lake on the North Platte River. It provides spectacular views in addition to some of the best grassland in the United States.
The Thomas Land Company land is easily accessed on major roads and highways. The northern most property, along the west side of Lake McConaughy, includes the ranch operating buildings and a small pivot. TLC holdings rise to the south through scenic ranching country to a divide between the North and South Platte River Valleys. There the land lies largely level and ranch land yields to excellent dryland farming. The balance of the ranchland then falls toward the South Platte River.
To the west lies dry cropland all accessible by county roads. Two pivots serve this westerly area as well. Major crops are dryland corn and winter wheat.
Most of the pivot irrigated farm land lies south of Interstate 80 in Perkins County. One Pivot however is adjacent to I-80 and two lie just north of Ogallala. Deuel County to the west is home to three pivots including the one on Interstate 80 in addition to the thousands of acres of superb dryland crop.
Grain storage in excellent condition provides capacity for 320,000 bushels. Grain dryers assure crop protection at harvest time. Shop facilities and ranch headquarters are all in excellent condition and offered as well.
Antelope, deer, turkeys, upland birds and waterfowl offer a significant recreational resource for the sportsman.
Dryland Crop Acres 11,641±
Irrigated farmland 3,154±
Total Deeded 26,733±
About 1,906± acres of additional land leased from the State of Nebraska will pass with lease assignments. In general current lease rates for dry crop run around $43 per acre, most irrigated cropland runs between $128 and $143 per acre and rangeland comes in at approximately $23 per acre. This land includes these acreages and uses:
Dryland Crop 851±
Rds/Bldg Sites 28±
Generally, these leases are for eight year terms. Rents each year are set by the Nebraska Board of Educational Lands & Funds. BELF’s lease assignment procedure and process for conveying title to improvements on school lands will be followed. The current information for the 3 leases are as follows:
Deuel County #s 110716 & 110717 Exp. 12/31/18 $25,025
Keith County #108769-16 Exp. 12/31/16 $17,119.28
Perkins County #111209-22 Exp. 12/31/22 $75,642
Improvements include a complete set of livestock working facilities on the north end of the ranch, an older house and a garage with a comfortable owner’s apartment upstairs on Route 26 along with 120,000 bushels of grain storage. There is also a shop, an equipment storage building and approximately 200,000 bushels of grain storage centrally located to the main concentration of irrigated land to the south.
Two modest residences in Deuel County add to the improvements mix. Chief improvements are highly functional, well maintained and in good condition.
Thomas Land Company actively manages all operations on the offered property with its personnel, machinery and livestock. TLC is a highly efficient going concern.
Here, only land and improvements are offered. Livestock and machinery will be sold separately after the land is sold in separate sales not connected to the land.
TLC will retain 50% of mineral rights in the land. There are no minerals produced on this property.
TLC provides a significant opportunity for both the passive investor seeking a rental opportunity and the active rancher or farmer looking for an operation or a major expansion.
Land is history’s best hedge against the vicious cycles of the economy. It provides the one true measure of wealth and stability. Land does not exist in a cloud, burst in a technology bubble or get beaten about in currency wars. It is stable.
Land ownership has been the objective of the aspiring, and the pride of the established owners of assets. The enduring value of land has no parallel.
Hall and Hall provides fee based management services on over 1.2 Million acres throughout the west. The Hall and Hall Resource Management Group can help prospective investors understand the opportunity Thomas Land Company offers.
Groundwater wells supply the main source of water for the property. Irrigation wells are registered with the Department of Natural Resources.
Water comes from the world famous Ogallala Aquifer - the nearby town carries the same name. Nebraska groundwater is regulated and an abundant water resource – about as secure as water gets!
Thomas Land Company took Michael and Lola Thomas nearly two decades to assemble. Mrs. Thomas is offering this remarkable assemblage following the death of her husband, Mike, a western Nebraska native son.
Real estate taxes are estimated to be approximately $352,355.24 per year based on past years’ history.
This is an extraordinarily diverse property that lies in a reputation area for both crop production and livestock grazing. It is very rare to find an assemblage of this magnitude and diversity being offered for sale. This diversity allows for many synergies. They include the ability to market a cross section of both crops and livestock at different points in the marketing cycle. The dryland and irrigated operations allow one to get maximum benefit from one’s equipment being used at different times in the season.
The livestock operation can be expanded dramatically to utilize crop residues and crop by products. Top management can take advantage of these synergies under the current operating scenario or under a scenario that would involve simply leasing out the various components to other operators.
Thomas Land Company’s holdings are a remarkable opportunity for a major investor to buy this entre offering of high quality agricultural land in one of America’s prime farming and ranching areas. This is a place to “park” a significant amount of capital, and enjoy the stability and the certainty that land is always real wealth.
This brochure has been put together to offer a property that is scheduled to be auctioned in its entirety on December 1, 2016 with the livestock and machinery to follow. This will be a unique multi parcel auction that is designed to achieve maximum value for Thomas Land Company by allowing the property to be sold in parcels to suit local, national and international buyers. The owner and her late husband dedicated over 15 years to putting this property together and believe strongly in its value as a whole and in the synergies and benefits described above. Her preference would be to sell the property immediately in its entirety to keep their vision alive with a new owner.
Thomas Land Company will offer this land prior to auction on December 1, 2016 to serious buyers of substance only. Once TLC enters into the pre-auction process, the land will not be available for sale except at auction.
Thomas Land Company offers exceptionally high quality land of three complimentary types and uses. TLC will consider offers before auction on the entire property. In addition, offers will be considered on substantially all of the ranchland along with adjacent parcels of irrigated and dry cropland. Offers on substantially all of the dry cropland or substantially all of the irrigated cropland will also be considered. No other configurations will be considered.
Please see the map of the entire property. Please contact a Hall and Hall broker to discuss which parcels would most logically go with a dryland sale, an irrigated sale or a ranch sale.
Offers must be accompanied by an earnest money deposit of 10% of the purchase price along with evidence of the buyer’s financial ability to close.
MANAGEMENT SERVICES – Hall and Hall’s Management Division has a very clear mission – To represent the owner and to ensure that his or her experience is a positive one. Services are customized to suit the owner’s needs. They often begin with the recruiting and hiring of a suitable ranch manager or caretaker and are followed by the development of a management or operating plan along with appropriate budgets. Ongoing services include bill paying, ranch oversight, and consulting services as needed. Even the most sophisticated and experienced ranch owners appreciate the value of a management firm representing them and providing advice on local area practices and costs. Wes Oja and Jerome Chvilicek at (406) 656-7500 or Randy Clavel at (308) 534-9000 are available to describe and discuss these services in detail and welcome your call.
RESOURCE ENHANCEMENT SERVICES – Increasingly the value of a ranch is measured by the quality of each and every one of its resources. Coincidentally the enhancement of a ranch’s resources also increases the pleasure that one derives from the ownership of a ranch. Our management services have included the assessment of everything from wildlife habitat to bird habitat to water resources and fisheries and the subsequent oversight of the process involved with the enhancement of these resources. Wes Oja or Jerome Chvilicek at (406) 656-7500 are available to describe and discuss these services in detail and welcome your call.
AUCTIONS - Hall and Hall Auctions offers “Another Solution” to create liquidity for the owners of Investment-Quality Rural Real Estate. Our auction team has experience in marketing farmland, ranchland, timberland and recreational properties throughout the nation. Extreme attention to detail and complete transparency coupled with Hall and Hall’s “rolodex” of over 40,000 targeted owners and buyers of rural real estate help assure that there are multiple bidders at each auction. In addition the unique Hall and Hall partnership model creates a teamwork approach that helps to assure that we realize true market value on auction day. For more information on our auction services contact Scott Shuman at (800) 829-8747.
SPECIALIZED LENDING - Since 1946 Hall and Hall has created a legacy by efficiently providing capital to the intermountain west. In addition to traditional farm and ranch loans, we specialize in understanding the unique aspects of placing loans on ranches where value may be influenced by recreational features, location and improvements and repayment may come from outside sources. Our extensive experience and strong relationships with our lenders allows us to quickly tell you whether we can provide the required financing.
Competitive Pricing • Flexible Terms • Efficient Processing
In-House Appraisals • Common Sense Underwriting
Dave Roddy • (406) 656-7500
Mike Hall or Judy Chirila • (303) 861-8282
Randy Clavel • (308) 534-9000
Monte Lyons • (806) 698-6882
Nebraska licensed real estate brokers and their associate brokers and salespersons are required by law to disclose the type of brokerage relationship they have with the buyers, tenants, sellers, or landlords to whom they are providing services in a real estate transaction. The buyers, tenants, sellers, or landlords may be either clients or customers of a licensee. A client of a licensee is a person or entity who has a brokerage relationship with that licensee. A customer of a licensee involved in a real estate transaction is a person or entity who does not have a brokerage relationship with that licensee, and who is not represented by any other licensee.
There are several types of brokerage relationships that are possible, and you, whether a client or a customer, should understand them at the time a licensee begins to provide brokerage services to you in a real estate transaction. They are: 1) Buyer Limited Agency; 2) Tenant Limited Agency; 3) Seller Limited Agency; 4) Landlord Limited Agency; 5) Dual Limited Agency; and 6) Common Law Agency.
The licensee who is offering brokerage services to you, or who is providing brokerage services for a particular property, must make certain disclosures regarding his/her brokerage relationship in the transaction. These disclosures must be made at the earliest practicable opportunity during or following the first substantial contact with a buyer, tenant, seller, or landlord who does not have a written agreement for brokerage services with another licensee.
All real estate licensees providing brokerage services are buyer’s or tenant’s limited agents (NO WRITTEN AGREEMENT IS NECESSARY) unless:
- The licensee has entered into a written agreement with a seller (a listing agreement) or a landlord (a management or leasing agreement) to represent the seller or landlord as their limited agent;
- The licensee is providing brokerage services as a subagent of another broker who has an agency relationship with a client;
- The licensee is providing brokerage services under a written consent to dual agency;
- The licensee is operating under a written common law agency agreement with a client.
At the end of each of the four sections in this brochure, brokers were given space to include information specifying those brokerage relationships their firms offer, and identifying the services they can provide within each relationship. Broker supplements to this brochure are distinguished by print type, and are in addition to the language prepared and approved by the Nebraska Real Estate Commission.
A buyer’s limited agent is an agent who represents a buyer. A real estate licensee is a buyer’s limited agent unless one of the written agreements or consents described in this brochure is in place. A buyer’s agency may also be created by written agreement between you and a real estate broker. A buyer’s limited agent, in addition to performing under the terms of any written agreement made with the buyer, exercises reasonable skill and care for the buyer and promotes the interests of the buyer with the utmost good faith, loyalty, and fidelity. A buyer’s limited agent seeks a price and terms which are acceptable to the buyer; presents all written offers to and from the buyer in a timely manner; discloses, in writing, to the buyer all adverse material facts actually known by the limited agent; and advises the buyer to obtain expert advice on known matters beyond the limited agent’s expertise. A buyer’s limited agent must account for all money and property received, and must comply with all applicable federal, state, and local statutes, rules, and ordinances.
A buyer’s limited agent shall not disclose any confidential information about the buyer unless required by statute or rule, or if failure to disclose would constitute fraudulent misrepresentation.
A buyer’s limited agent may retain and compensate other brokers as subagents only with the written agreement of the buyer. (Subagents have the same duties and obligations as the buyer’s limited agents.)
A buyer’s limited agent may show the same property to competing buyers, and assist competing buyers in attempting to purchase said property, without breaching any duty or obligation to their client.
A buyer’s limited agent owes no duty or obligation to a customer (seller) except to disclose, in writing, all adverse material facts actually known by the licensee. Adverse material facts may include adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction.
A buyer’s limited agent must also act honestly and fairly in their dealings with a seller.
A buyer’s limited agent owes no duty to conduct an independent investigation of the buyer’s financial condition for the benefit of the seller, or to independently verify the accuracy or completeness of statements made by the buyer or any independent inspector.
A buyer’s limited agent must, if the seller is not represented by another licensee, provide a list of tasks that the buyer’s limited agent may perform for the seller (customer).
Hall and Hall Partners, LLP offers buyer agency. As a buyer’s agent we will perform the following tasks for you as a seller-customer:
- Explain the farm and ranch selling process.
- Review and explain clause in the purchase agreement.
- Present all buyer offers to the seller and seller counter offers to the buyer.
- Provide, if requested , an estimate of closing costs bases on the proposed terms of the purchase agreement.
- Assist in the transaction until closing.
Hall and Hall, LLP does not offer tenant agency.
A seller’s limited agent is an agent who has entered into a written agreement to represent a seller. A seller’s limited agent performs under the terms of the written agreement; exercises reasonable skill and care for the seller; and promotes the interests of the seller with the utmost good faith, loyalty, and fidelity. A seller’s limited agent seeks a price and terms which are acceptable to the seller; presents all written offers to and from the seller in a timely manner; discloses, in writing, to the seller all adverse material facts actually known by the limited agent; and advises the seller to obtain any necessary expert advice on known matters beyond the limited agent’s expertise. A seller’s limited agent must account for all money and property received, and must comply with all applicable federal, state, and local statutes, rules, and ordinances.
A seller’s limited agent shall not disclose any confidential information about the seller unless required to do so by statute or rule, or if failure to disclose would constitute fraudulent misrepresentation.
A seller’s limited agent may retain and compensate other brokers as subagents only with the written agreement of the seller. (Subagents have the same duties and obligations as the seller’s limited agent.)
A sellers limited agent may show and list alternative or competing properties without breaching any duty or obligation to the seller.
A seller’s limited agent owes no duty or obligation to a customer (buyer) except to disclose, in writing, all adverse material facts actually known by the seller’s limited agent. An adverse material fact may include:
- Environmental hazards affecting the property required by law to be disclosed;
- Physical condition of the property;
- Material defects in the property;
- Material defects in the title to the property;
- Material limitations on the seller’s ability to perform under a contract.
A seller’s limited agent must also act honestly and fairly in his or her dealings with a buyer.
A seller’s limited agent owes no duty to conduct an independent inspection of the property for the benefit of the buyer, or to independently verify the accuracy or completeness of any statement made by the seller or an independent inspector.
A seller’s limited agent must, if the buyer is not represented by another licensee, provide a list of tasks that the seller’s limited agent may perform for the buyer (customer).
Hall and Hall Partners, LLP, offers seller agency. As a seller’s agent, we will perform the following tasks for you as a buyer-customer:
- Explain the farm or ranch buying process.
- Review and explain clauses in the purchase agreement.
- Provide information on available financing.
- Provide, if requested, an estimate of closing costs at the time of completing the offer to purchase.
- Present all offers to the Seller, counteroffers from the seller and assist in the transaction until closing.
Hall and Hall Partners, LLP, offers landlord agency. As a landlord’s agent, we will perform the following tasks for you as a tenant-customer:
- Explain the leasing process. Assess your wants and needs to lease a farm or ranch.
- Show you the properties Hall and Hall Partners, LLP has available for lease.
- Present proposals to the landlord/owner.
- Review and explain the proposed lease.
Limited Dual Agency
A limited dual agency is an agent who, with the written, informed consent of all parties to a contemplated real estate transaction, represents both the seller and the buyer. Both parties are clients of the licensee.
A limited dual agent has the same duties and obligations of a limited agent to a seller and the same duties and responsibilities of a limited agent to a buyer except as set out below.
A limited dual agent may disclose any information to one client that is gained from the other, if the information is relevant to the transaction or the client, except that a limited dual agent cannot disclose the following without the informed written consent of the client to whom the information pertains:
- The buyer is willing to pay more than the purchase price offered;
- The seller is willing to accept less than the asking price;
- The motivating factors for any client;
- A client will agree to financing terms other than those offered.
The limited dual agent cannot disclose to one client any confidential information about the other unless required by statute or rule, or if failure to disclose would constitute fraudulent misrepresentation.
Hall and Hall Partners, LLP offers dual agency when working with sellers and buyers in connection with the sale of real property but does not offer dual agency when working with landlords and tenants in connection with the leasing and managing of real property.
Common Law Agency
The duties and obligations of an agent under a common law agency agreement exceed the duties and obligations of a limited agent as described in this pamphlet and in Nebraska Statutes, Neb. Rev. Stat. § 76-2401 through 76-2430. For example, a licensee who is authorized by the principal to bind the principal to terms or conditions in a real estate transaction would be a common law agent. A buyer or seller and the real estate broker must enter into this type of agency through a written agreement which specifies the agent’s duties and responsibilities, including the duty of confidentiality and the terms of compensation. An agreement such as this will be subject to the common law requirements of agency applicable to real estate licensees.
Hall and Hall Partners, LLP, does not offer common law agency in connection with the listing of property but does offer common law agency when acting as a landlord’s agent, when duty authorized by the landlord.
NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.