Level, black-soil ground at the Old Speegleville Road / Highway 6 corridor west of Lake Waco — inside Midway ISD, with city utilities under construction in the corridor and roughly 2,000 approved homes nearby. Priced at raw-land value. That window is the opportunity.
Most listings in this corridor tell you what a tract could be someday. This one sits in the path of work that is contracted and under construction now.
The City of Waco's Speegleville Road program is installing a 24-inch water main and 18-inch gravity wastewater line with directional bores across the Middle Bosque — subdivision-scale backbone, not residential taps. Phase one (flood control + utilities) broke ground December 2025; bids for the bridge and four-lane widening phase are due July 2026, with construction running into 2028.
In 2024 the City of Waco approved an agreement with Speegleville Land Holdings financing roughly $27M in water and wastewater improvements supporting a ~700-home subdivision on 221 acres — infrastructure sized to serve the broader corridor, not just one project.
Orison Holdings' West Lake Village — 568 acres, 1,223 single-family homes plus 20 townhomes, commercial and lake-view amenities — is approved and annexed with its western boundary beginning roughly 250 meters from this tract's east corner, alongside the 700-home Speegleville Land Holdings project and the newly announced 90-home Saddle Creek.
| Nearby project | Scale | Land | Status |
|---|---|---|---|
| City of Waco — Speegleville Rd Utility Improvements24" water main · 18" wastewater · Middle Bosque crossings | Corridor backbone | — | Under construction |
| TxDOT Twin Bridges — Highway 6 over Lake Waco$114M bridge reconstruction on the corridor's spine | Corridor access | — | Under way → 2029 |
| West Lake Village — Orison Holdings1,223 single-family + 20 townhomes, commercial, parks; annexed into Waco · west edge ≈250 m from this tract | ~1,243 units | 568 ac | Approved |
| Speegleville Land Holdings subdivision≈$27M city water/wastewater financing agreement (approved 2024) | ~700 homes | 221 ac | Infrastructure funded |
| Midway ISD land holdingsDirectly across Old Speegleville Rd from this tract | Institutional | Hundreds of ac | Long-term hold |
The land holds itself. It's farmed year to year (~60 acres in cultivation), and the lease income covers every expense the property carries — taxes and all. A written rider releases acreage from farm use as development proceeds, so the ground comes out when you're ready, not when a tenant is. You can entitle, wait out the utility cycle, or land-bank it at zero carrying cost.
The packet includes the full investment memo (utility timeline, project pipeline, price analysis), the county property card, and the lease summary. Serious inquiries answered same day.
Andrew Steakley (CHS Partners LP) reviews every inquiry personally — expect a same-day reply on business days. Meanwhile, the data room:
Lease & income summary: ~60 ac cash farm lease, $3,600/yr, year-to-year with development-release rider — full copy available on request. Want to walk the land? Just reply to our follow-up and we'll set it up.
CHS Partners LP is a family partnership. After a year on the MLS with a conventional listing, we terminated it and chose to put the real story — the utility program, the corridor pipeline — directly in front of principals. Buyers deal with the owner; brokers representing a buyer are protected with a 2% commission.
No — and that is exactly why the price is $18,423/acre. City water and sewer backbone is under construction in the Speegleville corridor now, with the program designed to serve west-side growth. When service is confirmed to this stretch, raw-land pricing in the corridor is unlikely to survive. Buyer to verify utility timing and capacity with the City of Waco.
Yes. Request the packet below and mention you'd like to walk it — we'll coordinate access (parts of the tract are in active cultivation under the farm lease).
No — boundary lines in imagery and diagrams are approximate. A current survey can be arranged during due diligence; buyer's title company of choice.