The former hospital property was purchased Nov. 30, according to county records.
B&S Properties sold the property to Roy Stegner, a Forest Lake business owner, and Benjamin Winnick, a Forest Lake business owner and former mayor of Forest Lake.
Winnick told The Sun he and Stegner thought the property seemed like a good investment, but were still figuring out what the best use for it will be, given zoning and land use regulations governing the riverside bluff.
“We don’t have anything firm right at the moment,” he said. “The opportunity came to purchase it, but we haven’t had time to meet with village administration or planners yet.
“We do plan to get it secured and cleaned up. But are we going to re-use the building or demolish it and build something else? That’s all in the air.
“It’s a great property and we’re trying to explore long term an upscale housing development. But probably no big changes any time soon.”