The market tower is located on the north side of the Old Market of Ballenstedt, northeast of the Old Town Hall.
While the two city gate towers of Untertor and Obertor can be relatively securely dated to the mid-16th century, it can be assumed that the market tower was built slightly earlier in the 16th century as a bell tower. Since Ballenstedt was first referred to as a settlement in 1457, almost 100 years before it was granted town privileges and thus had the market rights but no city wall yet, the tower likely served a protective function for this market place. However, this tower was built at the latest around the time of the town becoming a city in 1544.
Source: Wikipedia.org
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