Frank Lloyd Wright's Price Tower sold to McFarlin Building after bankruptcy proceedings

The historic Price Tower, the only realized skyscraper designed by Frank Lloyd Wright, officially has a new owner. McFarlin Building, LLC, known for restoring the Mayo Hotel in Tulsa, won the auction with a $1.4 million bid and is now preparing to take over the landmark after months of legal disputes and bankruptcy proceedings.

The building was sold in March and April of 2023, before Green Copper Holdings and Copper Tree Inc. filed for bankruptcy in January 2025 after struggling to keep the building open. Blanchard sold items from inside the building legally in March and April 2024, prompting concern and legal disputes involving the Frank Lloyd Wright Building Conservancy before the tower closed in August 2024.

A Washington County judge ordered that the sale to McFarlin proceed at the originally agreed-upon price of $1.4 million. The judge also ruled that the funds be held in a court-managed account until all related debts and liabilities are resolved. Any money made from selling artifacts from the tower must either be returned to the buyer or deducted from the total held in the fund.

Bankruptcy attorney Pat Molloy notes the U.S. Bankruptcy Trustee's role in the sale.

"The U.S. Bankruptcy Trustee has acknowledged these sales as legal, and the Trustee—not the local court—will oversee any sale-related distributions. The federal bankruptcy process preempts any prior local proceedings or actions."

Read more: Price Tower in Bartlesville to be sold for original $1.4 million

Tourism Officials Hope for Reopening

Price Tower was originally dedicated in 1956 and is a key part of Bartlesville’s identity. Maria Gus, executive director of Visit Bartlesville, said the tower’s closure has had a major impact on the city’s tourism.

“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,” Gus said.

Gus also emphasized the cultural significance of the building: “It's a representation of that oil and gas industry, but it also represents the other things Bartlesville has found so important—arts, culture, importance of history.”

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