Built in the 1850s, the Smith St dwelling housed Wollongong's first Congregational Church minister, the Reverend George Charter.

In the tumultuous years that have followed, the property, which was rescued from demolition in 1973, has housed a doctor's surgery, a gallery and museum, family residences and church services.

It was also intended as a bed and breakfast home.

Selling agent Daniel Hastings of Martin, Morris and Jones said the eight-bedroom bungalow was sold for an undisclosed amount, between $900,000 and $1 million.

The property is characterised by its old world charm, with open fireplaces, built-in cedar bookcases and decorative plaster ceilings.

It also has a cellar, formal dining area, three sitting rooms, conservatory, and a large verandah and outdoor areas.

An Illawarra family has bought the property and has yet to decide how it will be used.

"They may use it ... for residential purposes, but I guess at the same time they wouldn't rule out something commercial that is suitable," Mr Hastings said.

It wasn't often agents got the chance to sell such a historic property, he said.

"It is a nice feather in our cap to be involved with it.

"I would argue it to be the most significant residence ... in the region, not just Wollongong," he said.