After years on the market, a mansion with ties to the Pillsbury family has a new owner.

NuWay Inc., a Twin Cities-based nonprofit that helps people overcome chemical dependency, paid $1.2 million for a storied property on Blaisdell Avenue in south Minneapolis. The group plans to convert the mansion and an adjacent office building into housing and offices. Combined, the properties have 23,000 square feet.

The house had been on the market for more than two years and was originally listed at $2.9 million, according to Mark Hulsey, managing broker of Re/Max Results Commercial.

The Renaissance Revival mansion was built in 1913 for John Pillsbury Snyder and his wife, Nelle, who a year earlier were rescued from the Titanic when it sank, according to the AIA Guide to the Twin Cities. The structure is attached to a newer building that was once used as a nursing home,

In the early 1960s, the house became the headquarters and showroom for Pinecrest Inc., a company that manufactures doors and decorative wood products. Its founder, Russell Underdahl Sr., also used the mansion to showcase his eclectic collections and exotic hunting trophies.

When Pinecrest moved to a suburb, the property was put on the market in early 2011. Hulsey said that when the price was finally reduced to about half the original asking price, several parties made offers.

“Blaisdell is a very unique property with multiple potential uses,” Hulsey said. “It was challenging to sell since the whole property required significant capital improvements for many explored uses.”