Sale of Land in an S Corp

[MJ Sauer]

I am selling a lot that I bought about $7,000 in 2013. The sales price is $110,000. The lot is owned within one of my businesses which is an LLC with an S-Corp tax election. I think this might have been a mistake to place it in this S-corp business but can anyone tell me how the gain from the sale will be treated within the S-Corp. I may do a 1031 exchange but the capital gains rates are low right now and I can most likely make money with some of the cash and use some for some capital improvement projects as I am mainly mortgage free at this point.