The town has sold a 128-year-old schoolhouse building in need of repair to the Lincolnville Historical Society.

The Historical Society houses its museum and archive on the building's second floor. The property is located at 33 Beach Road.

The sale price was $1, and was paid for with a 1921 silver dollar that had belonged to Swiss Hardy, who has passed away. Jane Hardy, a Historical Society member, said Swiss was a Lincolnville selectman, drove the school bus, worked at Rankin's Hardware and would have supported the effort.

Lincolnville Town Administrator David Kinney said the silver dollar was exchanged for a paper dollar, so the vintage coin could be returned to the Historical Society. The sale closed Dec. 3, he said.

The property was sold "as is" and "with all faults." The town also assigned a current lease it had with the Lincolnville Improvement Association over to the Historical Society.

In July, voters approved the sale of the building.

On Aug. 1, community members interested in saving the building, which is in need of repairs, came together at a well-attended meeting at Breezemere Park. Historical Society officers Rosey Gerry and Diane O’Brien encouraged the community to take on the project.

Contractor Andy Young agreed to come up with an estimate for needed renovations and repairs. While an assessment paid for by the town came up with a figure of $750,000 to bring the building to modern standards, others thought the building could be repaired for much less.

The project was likened to the community effort to move a building from one side of Route 52 to the other — with many people pulling it across with heavy ropes — to house the Lincolnville Community Library.

Afterward, an organization was formed to launch a capital campaign and see the project through.

The Beach Schoolhouse Restoration Project will be overseen by a nine-person steering committee, according to a Historical Society press release. The project seeks to raise an estimated amount of $250,000, through donations and grants, for repairs and a reserve fund for maintenance.

The one-room schoolroom on the second floor has housed the Historical Society’s museum and archive  for 25 years.

The first floor of the building has been occupied by the Lincolnville Improvement Association since the school closed in 1947. The organization established the building as a community gathering spot and maintained the structure.

The steering committee plans to offer a  homemade takeout meal monthly through the winter and offer tours of the museum to community members by appointment.