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Price Tower sale moving forward, owners bankrupt

Legendary architect Frank Lloyd Wright's Price Tower
John from Tulsa
/
Wikimedia Commons
Legendary architect Frank Lloyd Wright's Price Tower

After a long and drawn-out process, the Frank Lloyd Wright designed Price Tower will be under new ownership.

At an emergency hearing on Tuesday in Bartlesville the announcement was made: McFarlin Building purchased Price Tower after multiple lawsuits and financial troubles delayed the sale.

News on 6 reported that the previous ownership groups of the skyscraper, Copper Tree, Inc. and Green Copper Holdings, declared bankruptcy on Wednesday. This was the latest twist in the ownership groups' efforts to sell the tower.

The same owners sold some historic furnishings and artifacts last year designed by Wright. The Frank Lloyd Wright Conservancy alleges the sale went against a preservation easement.

This led to a legal battle between the conservancy and the previous owners that still rages on.

McFarlin Building, which also runs Tulsa’s Mayo Hotel, offered to buy the building for $1.4 million last year and claimed that there was a deal in place, but that never came to fruition. This led to another lawsuit.

The legal wranglings are expected to continue with the sale having no effect on the lawsuit, but Price Tower will be under new ownership.

Zach Boblitt is a news reporter and Morning Edition host for KWGS. He is originally from Taylorville, Illinois. No, that's not near Chicago. He received his bachelor's degree from the University of Illinois Springfield and his master's from Northwestern University's Medill School of Journalism. Yes, that is near Chicago. He is a fan of baseball, stand-up comedy and sarcasm.