Greer Stadium's iconic guitar-shaped scoreboard, sold at a city auction this month during the stadium's demolition, will remain in city limits and shine once again.

Chicago-based real estate developer AJ Capital Partners bought the 26-year-old scoreboard April 4 at a Metro online auction for $54,815.

“Our founder, Ben Weprin, has had his eye on the guitar scoreboard at Greer Stadium for years and his passion really drove our team to attain it," said Jack Richmond, director of investments for AJ Capital Partners, the company that co-developed the Thompson Hotel in the Gulch. "We are thrilled to capture such a legendary piece of Nashville’s past and integrate the iconic scoreboard."

Richmond said the company plans to incorporate the scoreboard into the upcoming design of the Nashville Warehouse Company site, just blocks from its original home at Fourth Avenue South and Chestnut Street.

In November, Nashville Mayor David Briley announced plans to demolish the abandoned Greer Stadium and reincorporate the property into the campus of the Civil War-era Fort Negley historic site.

Demolition began earlier this month.

The stadium opened in 1978 as the home of the Nashville Sounds minor league baseball team, but the team moved to First Tennessee Park in Germantown in 2015.

"Plans for the guitar scoreboard are in progress and we look forward to sharing more soon on the Nashville Warehouse Company project," said AJ Capital Partners' spokeswoman Amy Wexler.

In 2016, Metro Council approved specific plan zoning for the industrial site to permit a mixed-use project for the targeted 5.2-acre site.

Outpost Nashville Owner LLC got approval for buildings up to nine stories, which would make it the tallest development in that area between the Chestnut Hill and Wedgewood-Houston neighborhood.

Renderings for the project provided by AJ Capital Partners include the giant guitar-shaped scoreboard as well as an iconic water tower at the corner of Fourth and Chestnut.

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Reach Natalie Neysa Alund at nalund@tennessean.com and follow her on Twitter @nataliealund.