LA
06/04/2012 02:14 pm ET

Hollywood Palladium For Sale: Own A Piece Of LA Music History

An iconic piece of music and Hollywood history could be yours -- if you're a multi-million dollar investment company looking for a unique development opportunity.

The Hollywood Palladium (and it's 90,000-square-foot parking lot) on Hollywood Boulevard has been put on the commercial real estate market by the current owner, LSREF 2 Clover Property 4 LLC, according to The Hollywood Reporter. The property has an estimated value of $60 million - but some might say, in terms of nostalgia, that this venue is priceless.

Built in 1940 by Norman Chandler, publisher of the Los Angeles Times, the Hollywood Palladium cost a hefty $1.6 million. Jimi Hendrix, MC5, Frank Sinatra, Stevie Wonder, Betty Grable, Guns N Roses, Adele, Marky Mark, Jay-Z and DJ AM have all been hosted by the LA landmark - and even President John F. Kennedy once took the stage there.

Live Nation is currently five years into a twenty year lease with The Hollywood Palladium.

Browse images of the Hollywood Palladium below:

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