Indiana Landmarks announced Monday that it has sold its building on the Central Canal downtown to Indiana University Foundation.

The price for the 15,734-square-foot building at 340 W. Michigan St., also known as the Williamson Center, was not disclosed. The building is actually an 1874 house, which Indiana Landmarks moved in 1984 to save it from demolition. The house was later restored and enlarged to serve as the not-for-profit preservation group's headquarters.

“Indiana Landmarks wouldn’t sell to just anyone, and we’ll retain protective covenants to ensure its preservation,” President Marsh Davis said. “We’re pleased it will be in the good hands of the Indiana University Foundation.“  Proceeds from the sale will go into a restricted endowment to fund operations of the new Indiana Landmarks Center.

Indiana Landmarks Center is the former Central Avenue Methodist Church, which is undergoing a $13 million renovation that includes two theaters, reception halls, meeting rooms and offices. Indiana Landmarks will move to the location in late May, when the offices are expected to be finished.

The IU Foundation will move its Indianapolis staff from an office on North Meridian Street.

“We had been looking for a location closer to campus,” foundation President Gene Tempel said.  “This building is on the edge of campus and connected to downtown Indianapolis and the community.  It is the perfect place for the foundation as we work with the campus to raise funds for its $1.25 billion IUPUI IMPACT campaign.” Tempel said the building may eventually house university partners as well as foundation offices.