By Robert Barron, Staff Writer
Enid News and Eagle
The historic Broadway Tower will be sold at auction at 11 a.m. today.
The auction will be in Cherokee Strip Conference Center, and is being conducted by the Chartwell Group of Cleveland, Ohio.
The building is the tallest in Enid at 15 stories, and has been owned by Lew Ward and Bob Berry since 1981, when they purchased it for $100,000. According to auction company information, the building has 88,000 square feet. There is no reserve amount and the building will be sold for the best bid received, Berry said.
“We had to move it to the conference center because there was so much interest,” Berry said.
Broadway Tower was built in 1931 as a reaction to the Bass Building and Youngblood Hotel, which were built on the west side of the downtown Square. Broadway Tower was built on the east side of the Square to “balance out the business.” A group of downtown businessmen formed a corporation to built the tower, and that corporation went bankrupt in 1932.
Berry said there are about 25 businesses that are tenants in the building and about 100 people who work there. Berry also said they built about 125 parking spaces on the east side of the tower and across Broadway to the south.
The Chartwell Group recommended a $250,000 initial bid in its auction information. Berry said both he and Ward believe it is time to move on. They both have other business interests, limiting their time to devote to Broadway Tower.