A radio that old (I guess it's a radio) wouldn't be in a house that isn't falling apart if it was abandoned and look at the chair. Would leather keep that well?
The radio looks a lot like one my Grandfather had when I was a kid -- and kept as long as he lived -- it even has the whitish push-buttons. He connected it to an aerial on the roof and it could receive stations several states away. It was used when he bought it and he'd had it as long as anyone could remember. When something went wrong with it, he'd fix it. It's not impossible that the radio in the photograph was a working radio at the time the farmhouse was abandoned.
The farmhouse may not have been abandoned all that long ago -- maybe 20 or 30 years ago, when the owners expired or became too old to live alone. So leather could certainly last that long. We have a leather chair that's over 50 years old now. It has a few cracks along some of the fold lines, but the one in the picture might too and it wouldn't show. It looks like the room with the chair didn't have water damage like the bedroom so there's no particular reason why the leather wouldn't last if it was decent quality to start with.