We have synthesized single crystals of K${}_{1.00(3)}$Fe${}_{0.85(2)}$Ag${}_{1.15(2)}$Te${}_{2.0(1)}$. The material crystallizes in the ThCr${}_{2}$Si${}_{2}$ structure with $I$4/mmm symmetry and without K and Fe/Ag deficiencies, unlike in K${}_{x}$Fe${}_{2\ensuremath{-}y}$Se${}_{2}$ and K${}_{x}$Fe${}_{2\ensuremath{-}y}$S${}_{2}$. Transport, magnetic, and heat-capacity measurements indicate that KFe${}_{0.85}$Ag${}_{1.15}$Te${}_{2}$ is a semiconductor with long-range antiferromagnetic transition at ${T}_{N}$ $=$ 35 K.