Bartlesville’s Price Tower set for auction in May 2025 following bankruptcy

The Price Tower in Bartlesville will be going up for auction. This comes after months of questions about the tower’s future.

READY FOR A SOLUTION

McKenna Martin grew up in this area and wants the building to go into good hands.

“I think it’s really crazy how it can be allowed to happen so privately, and maybe the government should be able to come in and use that space for probably like a museum or something beneficial for the community,” said Martin.

TOURISM PERSPECTIVE

Maria Gus is the Executive Director of Visit Bartlesville. She says the tower is a staple of the Bartlesville skyline.

“It's a representation of that oil and gas industry,” said Gus. “But it also represents the other things Bartlesville has found so important. Arts, culture, importance of history.”

She says it has been a challenge since the tower is closed.

“When your job is to promote Bartlesville, and you have one of your best tourism assets going through this kind of turmoil, it’s frustrating,” said Gus. 

She says she is glad the courts are moving quickly.

It feels as though in this particular instance, the bankruptcy court is moving along a little bit quicker than it would typically,” said Gus.

She hopes the new owner will take care of the property.

“I just hope they find someone who cares,” said Gus. “Someone who understands that the building is not only important to this community, but to the architectural community, to the state of Oklahoma.”

THE AUCTION

Scott Schlotfelt with Cushman & Wakefield/Commercial Oklahoma, Inc., is the broker.

He says the Price Tower will be auctioned through a Chapter 7 bankruptcy sale.

He says the auction will happen in the United States Bankruptcy Court for the Northern District of Oklahoma on May 6, 2025, at 9 a.m.

Qualified bids have to be submitted before the end of the business day on April 28, 2025.

The trustee says all tangible personal property located at, in, or upon the Price Tower will be included in the sale.

The minimum bid accepted will be $1,539,287.

WHAT LED HERE

The owners of the Price Tower declared bankruptcy in January after a judge ordered them to sell the tower for $1.4 million to McFarlin Building, LLC.

The Price Tower was closed in August after the owner said she did all she could to keep it open.

The owner previously sold items inside the tower, which led to back and forth between the owner and the Frank Lloyd Wright Building Conservancy Group.

The owner took over from the nonprofit that owned the tower for decades back in 2023.