According to Dean Alger's book, Indiana's Historic Fire Towers - The Spears Fire Tower was located in Hoosier National Forest in Crawford County, Indiana, about 13.0 miles south-southeast of the town of French Lick and 5.4 miles northwest of the town of English. The Indiana DOF erected the tower in or around 1936 and later transferred ownership to the U.S. Forest Service. Sometime around 1987, the Forest Service sold the Spears Fire Tower so they could erect a newer and taller tower at the site.

The fire tower buyer dismantled the structure, moved it from the original site, and placed it in storage. Later on, a private individual bought the Spears Fire Tower to fulfill his dream of restoring and rebuilding this tower in Indiana. The new owner unfortunately passed away before he was able to re-erect this notable fire tower in his home state. His son, however, worked with OFS Brands, an Indiana furniture manufacturer, to completely restore and re-erect the tower at OFS Brands' Cool Springs Campus in Velpen, Indiana. The Cool Springs Campus is utilized by OFS Brands for company retreats, and to showcase for dients the company's sustainability and craftsmanship. The property covers 1,000 acres and contains an extensive forest, tree nursery, lake, educational center, horse barn, and marina. The fire tower at the campus, now called the Cool Springs Fire Tower, has decorative lights on it. Invited guests can climb the tower, and if inclined to do so there is another structure they can zipline down.

Visits to the campus and this fire tower are by invitation only.