The building formerly known as Central School in Chillicothe has been sold to a Springfield Property Group.
The Chillicothe School Board approved selling the building to Hamilton Properties for $20,000.
The board advertised for bids to demolish, and bids to purchase. The demolition was forecast to cost the district more than $200,000.
A spokesperson for Hamilton Properties said the goal is to make the building into “market rate rental apartments.”
The next step for Hamilton Properties will be applying for historic tax credits which could take six to nine months.
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