Originally, the museum intended to move to another Lincoln location, but it was not economically feasible. Plans for the new location were drafted by UNL architecture students in 2016. In January 2019, it was announced that the collection from the museum was purchased by a local group: Nelnet, Speedway Properties, Thomas C. Woods IV and the Woods Charitable Fund. The group pledged to display the collection in parts of the Telegraph District as it is developed. The Telegraph District property encompasses about twenty acres. Speedway also is creating a permanent display of some of the items at their Speedway Museum in Lincoln.
Although this museum is closed, two historic buildings in downtown Lincoln, side by side on S. 13th St. south of O St., still stand: the Nebraska Telephone Company Building and the Woods Brothers Building (each has its own Clio listing and is listed in the NRHP).