Erie Insurance has purchased the 118-year-old Jones School building in downtown Erie.

What's known as Jones School Square at 150 E. 8 St. is home to the Elderkin Law Firm. It plans to stay in the building for now.

Erie Insurance officials told Erie News Now it made sense for them to buy the building with the location adjacent to its campus.

"We viewed this as an opportunity to invest in the neighborhood and add to our campus," said spokeswoman Sara Erhartic.

The Erie Times-News reports the purchase price at $1.6 million.

Erie insurance said it has no immediate plans to use the space.

When partners in the Elderkin Firm bought the building in 1980, it was in disrepair, but they restored it.