On June 10, 2015, at 0540 central daylight time, a Piper PA-28R-200, N872CS, experienced a total loss of engine power due to oil exhaustion during climb after takeoff from Jonesboro Municipal Airport (JBR), Jonesboro, Arkansas. The pilot performed a forced landing to a parking lot where the airplane struck a sign pole. The airplane sustained substantial damage to the right wing and right side of the empennage. The private pilot and a private pilot rated passenger were uninjured. The airplane was registered to C & S Aviation LLC and operated by the pilot under Title 14 Code of Federal Regulations Part 19 as a personal flight. The flight was originating at the time of the accident. The pilot stated that during his preflight inspection of the airplane, there was 8 quarts of engine oil in the engine (Lycoming IO-360-C1C, serial number L-15562-51A). About 3-5 minutes after takeoff from runway 23, the oil light illuminated, and within seconds the oil pressure gauge indicated zero while the airplane was at an altitude of about 1,800 feet mean sea level. The pilot decided to return to JBR and land on runway 5 and about 20-30 seconds later, the engine lost all power. The pilot stated that the airplane was unable to attain the runway 5 due to insufficient airplane altitude. The pilot then performed a forced landing to a parking lot where the airplane right wing contacted sign pole, which spun and flipped the airplane over. According to a Federal Aviation Administration inspector, examination of the airplane revealed that the nose wheel had contacted and broke an oil drain valve during gear retraction. The oil drain valve was the incorrect part number, which was addressed by Piper Aircraft Corporation Service Letter Number 910. The correct part number for the installation was "32 492-172 * VALVE ASSY - Oil drain-(1H50-1)." According to the pilot, the accident flight was the first flight after the oil drain valve had been replaced by an airframe and powerplant mechanic. A June 9, 2015 engine logbook entry stated that the engine received a 100-hour/annual inspection at a tachometer time of 3,831.5 hours and an engine total time of 1,831.5 hours.