Located in the Northside Business District’s historic area, 100 Seneca is the city’s tallest building. Construction began in 1877 for the Oil City Exchange, the precursor to the existing building, with the architectural design by J.M. Budge of Meadville.
Averaging a daily trade of 10-14 million barrels of oil, the Oil City Oil Exchange became the third-largest financial exchange in the United States and was dubbed “the heart of the oil industry.”
Due to the unpredictable fluctuations in crude oil prices and changing transportation prospects, the exchange was closed and sold to the Oil City National Bank in 1909. In the mid 1920s, the original building was razed and the Oil City National Bank, as it’s known today, was constructed in 1926. After some time, the bank closed as well, and 100 Seneca sat empty for two decades. Its tale of abandonment attracted National Geographic’s attention, leading to a feature in their show “Abandoned.” The show highlighted the building’s historical significance and its decline.
In 2017, Venango County purchased the building and transferred ownership to the newly created Venango County Economic Development Authority (VCEDA). This sparked a multi-million dollar renovation designed to give the building new life and serve as a catalyst for the redevelopment of downtown Oil City. With a vision of premier offices, a collaborative professional environment, and a retail food business incubator, the structure underwent several phases of rehabilitation.
As 100 Seneca regains life, it continues to serve as a reminder of the rich history of Oil City. Reflecting the impact of the oil boom on the area, it embodies a spirit of creativity and economic strength. The restoration of this landmark presents an opportunity to pay homage to the past while rejuvenating the community and maintaining a link to those who played a part in the city’s growth. Preserving 100 Seneca represents an investment in preserving the cultural heritage that acknowledges both the accomplishments and hardships of the city’s history.