Frank Lloyd Wright’s Price Tower Sold to McFarlin After Bankruptcy

One of America’s most iconic architectural landmarks, the Price Tower, has officially found a new owner. The only realized skyscraper ever designed by legendary architect Frank Lloyd Wright was sold to McFarlin Building, LLC, a Tulsa-based development firm, for $1.4 million following a court-ordered auction as part of ongoing bankruptcy proceedings.

The 19-story tower, completed in 1956, stands not only as a testament to Wright’s visionary design ethos but also as a symbol of mid-20th-century modernism in the American heartland. Known for its distinctive copper façade and cantilevered structure, Price Tower was originally commissioned by the H.C. Price Company, a pipeline engineering firm that sought an innovative and vertical office space in a predominantly low-rise town.

Over the decades, the building has undergone several transitions, housing not only corporate offices but also functioning as a boutique hotel, restaurant, and arts center. Its unique form and historical value have made it a pilgrimage site for architecture enthusiasts and scholars alike.

However, the tower's recent journey has been marked by financial instability. In 2023, the building was controversially sold to Copper Tree Inc. for a symbolic price of $10, with the promise that the new owners would assume existing debts and undertake critical renovations. Despite initial optimism, financial challenges persisted. By August 2024, the property had been shuttered due to insolvency, leading to foreclosure and a bankruptcy filing that placed its future in serious doubt.

The latest acquisition by McFarlin Building, LLC represents a potential turning point. The company, widely recognized for its restoration of the historic Mayo Hotel in Tulsa, has a proven track record of reviving architecturally significant properties with sensitivity and vision. The firm’s leadership has indicated that it intends to preserve the tower’s historical integrity while breathing new life into its facilities and programs.

Local leaders have expressed cautious optimism. Maria Gus, executive director of Visit Bartlesville, called the sale a “hopeful chapter” for the beloved structure. “It’s more than just a building. Price Tower tells the story of our past—of innovation, industry, and artistic ambition. We’re excited to see it come alive again,” she said.

The future use of the building remains under discussion, but early indications suggest a continued blend of hospitality, public engagement, and cultural programming—consistent with Wright’s original vision of a “multi-use skyscraper.” Preservationists and community members are now watching closely, hoping the new owners will honor the building’s storied legacy while ensuring its relevance for generations to come.

Price Tower has long stood as a rare example of Wright’s vertical ambitions—one of the few physical embodiments of his ideas for the “Broadacre City” concept. Its preservation and revitalization are not just matters of local interest but national significance, representing a crucial piece of American architectural history.