HALLOWELL — After a largely industrial past, the former Hallowell Granite Works property soon will become living and work space.

The property, which most recently was home to Brahms Mount’s textile mill and store, has been sold in two parcels, the second of which closed last week. The mill building will become a single-family home, and a Farmingdale financial services firm plans to move into the office building.

Brahms Mount moved its store to Freeport in the fall and its production facility to Monmouth shortly afterward. The company’s owner said it had outgrown the space in Hallowell.

The investment and retirement planning firm of Duncklee & Nott closed on the office building at 19 Central St. on Wednesday. The firm paid $195,000.

Jim Duncklee said Duncklee & Nott has been growing partly as a result of an aging population that needs retirement planning services. The firm added an associate last year and plans to hire a receptionist after they move to Hallowell, probably in September.

The space it leases on Maine Avenue in Farmingdale is only 850 square feet, while the granite works building has 1,500 square feet on each of three floors. Duncklee said he and his wife will live above the first-floor office.

First, about eight weeks of renovation and restoration will be needed.

“It has character from its original days in the 1800s,” Duncklee said. “We hope to bring that back and share it with the public.”

The mill building is on the same lot, but its address is 2 Franklin St. Harrison Wolfington, a sales agent for Laflin & Wolfington Realty, said a married couple from Portland bought it for $232,000 and will convert it into a loft-style home.

He said the wife is a pediatrician who will work at MaineGeneral Medical Center, and the husband is a jewelry artist.

The building has about 3,000 square feet on the first floor, 3,000 square feet on the second floor and 2,500 square feet on the attic-like third floor.

Wolfington said offers were made on the two parts of the property within a day of each other in April, and the mill building sold for the full asking price, a sign of the improving real estate market.

Susan McMillan — 621-5645
[email protected]