You can own a piece of Hollywood history for a mere. . . USD $31 million!
The Los Angeles Times reported yesterday that the El Capitan Theatre, located in the heart of Hollywood, has been put up for sale by its owner, CUNA Mutual Group. The building in which the theatre resides also contains six-stories of office space filled with entertainment industry tenants, including the studio for late night talks show, “Jimmy Kimmel Live”. The theatre sits across Hollywood Boulevard from Grauman’s Chinese Theatre and just down the street from the Egyptian Theatre.
Built in 1926 as a live theatre venue, the El Capitan has seen the entire gamut of Hollywood history. From the first motion pictures with sound to the world premiere of “Citizen Kane” to the decline of Hollywood into filth and squalor, to its recent rise again as one of the hottest parts of Los Angeles. Through it all the El Capitan never stopped functioning as a theatre accept during renovations. In 1991, Walt Disney Company and Pacific Theaters spent $6 million restoring the venue to the way famed theatre designer G. Albert Lansburg had intended back in the 1920s and returned the outdoor lighting and architectural features to their original state.
Unfortunately, the restored El Capitan was open long when in 1994 the theatre suffered sever damage during the Northridge earthquake. The building’s frame came close to being condemned and the theatre’s renovated interior was ruined by flooding when sprinkler systems malfunctioned. Read More
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