The former summer residence of the Reuss princes of the older line now serves as a museum and houses the princely collection of books and engravings and the Satiricum.

The summer palace is located in the middle of the listed Greizer Park. Since 1994, this nationally significant ensemble of monuments has belonged to the Thuringian Palaces and Gardens Foundation, which completely renovated the building from 2005 to 2011. Only a few sources have survived from the time when the summer palace was built. Henry XI. Reuss Aelterer Linie (1722-1800) presumably took his social rise to the rank of imperial prince in 1778 as an opportunity to alter the interior of the existing palace and thus create an appropriate external setting that corresponded to the new dignity of the sovereign.

The building dates back to 1768/69. In 1768, Heinrich XI. Reuss inherited the older Untergreiz line and had a new summer residence built as a result. He opted for French models for the conversion, reflecting his personal preference for the internationally modern architecture of the time. This makes the summer palace an unusually early example of the reception of Louis XVI and of early classicism in central Germany. Three steps lead through the main portal into the garden hall. This former orangery was used for parties, theater performances and concerts in the 18th and 19th centuries. Today, the hall is used by the Greiz SATIRICUM State Collection of Books and Engravings as a space for exhibitions and concerts. Two doors lead to the actual entrance wing of the museum and through the staircase, an installation from the early 20th century, to the Beletage.

The royal state rooms on the south side consist of the banqueting hall as well as the cabinets and antichambres. On the north side are smaller rooms, including the Chinese Room, the princely bedroom and the dining room, which is now used as a display library. The mezzanine floor, the former living quarters of the princely family, now houses the library, the reading room and the restoration workshop.