A developer is hoping to transform a former junior high school in Beloit, Wis., into a community center.

The Beloit Daily News reports that the former Roosevelt Junior High School, which more recently served as the Beloit district's administration building, would become a non-profit community center that would offer activities for children and support for entrepreneurship, home ownership and financial literacy.

Cole Swartz, owner of Rising Tide Ventures, bought the property from the Beloit school district through auction for $67,983. He says the building is in excellent condition and comes with two basketball courts, an auditorium and accompanying 5.7 acres of land,

The three-story building is about 75,000 square feet and was built in the Mediterranean Revival style.The original structure was completed in 1921 as Roosevelt Junior High School and contained 22 classrooms.

In 1980, Roosevelt Junior High School was closed and replaced with Aldrich Junior High School (now Aldrich Intermediate School). Two years later, Roosevelt was renovated and became the district's headquarters.

After the district opened a new administrative center, the school board decided to sell the Roosevelt site because of the maintenance costs.