The hugely important 1954 building - where Kahn claimed to have 'discovered himself' - has been in a state of disrepair for decades.
The local authority, Mercer County, has confirmed that it will buy the property and put in place historic preservation and conservation measures.
The historic building, which had been owned by a Jewish community centre, will then be run as a community recreation site.
However, any conversion will not be without numerous problems. The building, which is on the National Register of Historic Places and is locally protected, needs an estimated $500,000 to $1 million (£265,000 to £530,000) in repairs.
The news that Mercer County is prepared to take on the building was welcomed by local architectural historian Susan Solomon, who had previously warned that the land may have been sold to a developer.