Schulte United vacated the building upon its bankruptcy in the 1960s, and the upper stores remained vacant for the next four decades.

[3] This conversion, first of the Historic Commercial Reuse Initiative meant to revitalize the dormant historic buildings on Broadway,[5][6] was completed in 2014, at which point the building was renamed Broadway Arts Tower.

[3] Also in 2014, the building was awarded $15,489 ($19,935 in 2023) through the Bringing Back Broadway initiative to buy decorative fluted hood lights to illuminate its top-floor signage.

[7] Schulte United Building is made of brick and concrete and features a flat facade with terra cotta ornamentation.

[1] The building's interior features brickwork, hardwood floors, a tin ceiling, and a large staircase with bronze inlays and brass handrails.