At 195 State Street (at the corner of Maple Street) in Springfield is the former headquarters building of the Springfield Fire and Marine Insurance Company. The company was founded in 1851 and had previously been located at Fort and Main Streets. Seven private estates were purchased and demolished to make way for the limestone Classical Revival-style structure, completed in 1905 and designed by the renowned architectural firm of Peabody and Stearns. The building was later used as the offices of the Springfield School Department, but due to various problems, including the lack of air circulation in the summer resulting in oppressive heat, the school offices were recently moved elsewhere. Last year, the antiquated building was sold to a developer who will undertake major renovations and convert it into at least 30 market-rate apartments.