Leslie Rudd’s LRICO Services LLC purchases county property at Washington and Waterman

UPDATED — It was about this time two years ago that Sedgwick County decided to sell its property at the northwest corner of Washington and Waterman. Now, it’s finally happened.

LRICO Services LLC purchased the land for $297,000 at auction on Wednesday.

LRICO stands for Leslie Rudd Investment Co. The company owns the building on Waterman next to what it purchased.

The county bought 50,415 square feet in 2007 to make improvements to the intersection in advance of Intrust Bank Arena opening.

The county briefly considered using the lot for parking or something else but decided to sell it instead. It rejected at least one earlier offer before holding the auction this week.

It’s not clear what LRICO might do with the property. A representative declined comment.