The Archdiocese of Philadelphia is selling a property known as the cardinal's residence to an adjacent Roman Catholic university for $10 million.Saint Joseph's University announced Friday that it has signed a letter of intent to acquire the nearly 9-acre estate. The purchase will close in a few weeks.
The property includes a massive three-story main building and two other structures.
The university did not specify long-term plans for the land.
The residence is one of several properties being sold by the archdiocese to close a budget deficit.
Next week, officials will auction a beachfront villa in New Jersey previously used as a vacation home for priests.
The Philadelphia property is currently occupied by Archbishop Charles Chaput.
A church spokeswoman says he will move to a neighboring seminary.