The Municipality of Central Huron are now the owners of the former Bluewater Centre for Young Offenders.
Mayor Jim Ginn says they were able to close the sale of the property on Highway 21 on Monday.
He says the plans are to demolish the building for future development.
The building had been abandoned since the facility closed in 2012 and Ginn says it covers six acres of the property and will need to come down in order to clean up the brownfield.
He says the purchase price is around $5 Million which is basic farm land value for the property.
Ginn says the centre employed 200 people before it closed and would like to see some of those jobs back in the area.