Capitol (Over the) Hill?

The legendary Capitol Records building's days as the label's headquarters may be numbered, the LA Business Journal reports (by way of LA Observed):

The potential of converting the circular, Welton Becket Associates-designed tower on Vine Street into condos has helped attract several offers. But Andy Fixmer reports in the L.A. Business Journal that Mayor Villaraigosa and other city officials are scrambling to keep Capitol's 160 employees in Hollywood, perhaps by making improvements that will entice a new owner to let Capitol Records stay on a lease.

A source tells the LABJ that “EMI has decided that they are in the record business; not the real estate business...[they] can get a lot of money for the property, so that is what they’re going to do.”

The Hollywood landmark opened in 1956, and at 13 stories was the world's first circular office building. Shaped like a stack of records, the building also boasts a spire on top that blinks out the word "Hollywood" in Morse Code.

From Seeing Stars:

At the base of the building's southern face (overlooking a parking lot) is a large, colorful mural by artist Richard Wyatt, titled "Hollywood Jazz." The mural features large portraits of Nat King Cole, Billie Holiday, and other jazz greats.
(Rumor has it that it was Nat King Cole himself who suggested the unusual shape for the Capitol Records building.)

This is, of course, an office building, and it isn't open to public tours - so you'll have to be satisfied with admiring its unique exterior and their small lobby, where the walls are covered with their many gold records from artists like the Beatles, Pink Floyd and Duran Duran.

John Lennon's star on the Hollywood Walk of Fame is right outside the Capitol Records building, and is often the site of candlelight vigils on the anniversary of his death (December 8).

Unlike CBS' Columbia Square -- which the company sold, and is now in danger of being torn down once KCBS and KCAL leave -- at least there's no danger of the Capitol Records building disappearing all together.