Will the sign ‘Hollywood’ disappear?

By
Services for Real Estate Pros with Franchase

The famous sign can be demolished if $3 mln are not raised in several weeks. The city is the owner of the sign but the rest of the land around the sign belongs to several investors from Chicago. If the territory is not bought out by 14 April, ‘golden’ meters will be given for building and the letters will be demounted.

However, Hollywood can be saved if the Trust For Public Land pays $12 mln to the investors. With the help of Tom Hanks and Steven Spielberg the trust has managed to raise about $ 10 mln.  

The letters appeared in 1923 as an advertisement for a real estate development and since that time they have been one of the numerous places of interest for tourists in Hollywood. Now in order to attract attention to the campaign, the letters are covered with the banner ‘Save the peak’.

At present, Hollywood is one of the most popular places for living among celebrities from all over the world. To find Hollywood Real Estate Properties For Sale By Owner go to Fizber.com!

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Rainmaker
432,026
Jeff Craig
Hang Me Up Photos - Jamestown, NC
Greensboro Area Real Estate Photography

It would be a shame to lose such an icon.  Hope they can come up with the money to save it.

Apr 08, 2010 03:39 AM #1
Rainmaker
1,059,800
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

I grew up in Los Angeles and never became jaded seeing that sign - I just loved it.  I don't believe the city would allow it to be taken down - the funds will be found.

Apr 08, 2010 03:41 AM #2
Rainmaker
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Keith Landis
Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 - Pittsburgh, PA
Pennsylvania - "Your Pennsylvania Mortgage Source"

If Hollywood can raise the dough for $100 million movie budgets, 3 million should be no sweat.

Apr 08, 2010 03:41 AM #3
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Ralph Gorgoglione
Maui Life Homes / Metro Life Homes - Kihei, HI
Hawaii and California Real Estate (800) 591-6121

You've got to be kidding me.

The Hollywood sign stands a chance to be demolished so that some Chicago land developers can make some more money?

I had no idea.

I cannot fathom that ANY American, even a land developer, could have total disregard for what this sign means to the rest of the world, simply to make a few bucks.

This is a prime example how greed in our capitalistic society has been allowed to go unchecked for so long.

Apr 08, 2010 03:52 AM #4
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Nelly Korbut

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