Rossville's Mayor Teddy Harris confirms the Peerless Mill is now back in the hands of its original owners.
But the Hutcehson family's not saying much about what they plan to do with the 27 acre property.
Businessman Les Coffey bought it but declared bankruptcy in 2008.
The Hutcheson family had a judge stop his plans to demolish the old building last year.
Mayor Harris says the site has great potential.
Teddy Harris, Rossville Mayor, "There's great opportunities there. That's a 27 acre site. You've got the rail. You've got fiber optics. You're 2.1 miles from 2 interstate exits, 4th Avenue Exit and Rossville Boulevard Exit, so really... and it's within 10 miles of Enterprise South, so, you know, the sky's the limit on it."
Folks around town think parts of it would make a great museum.