The Commonwealth Building at 5077 Lankershim Blvd. that housed a Citibank branch until last December is scheduled for demolition within the next week or two to make way for a mixed-use development.
An on-site worker, who did not want to be named, told Patch when the structure would be coming down.
Todd Pratt, Executive Vice President of Chandler Pratt, which owns the property, did not return phone calls to confirm when the tear down would take place or when construction of the 5-story mixed-use project would commence.
But according to records on the city of Los Angeles Department of Building and Safety's website, Chandler Pratt was granted a hand-wrecking demolition permit in January.
The building's Citibank logo was removed and a fence was placed outside within the last month.
Last September, Pratt told Patch that plans to move forward with the project would be on hold for up to two years.
Local history buffs filed an application to get historic landmark status for the 1960s era Commonwealth building, but it was eventually denied.
Richard Hilton, a member of the board of directors for the Museum of the San Fernando Valley, said he believes the request was shot down because there were too many modifications made inside and outside the property.
The Commonwealth Building was once part of a North Hollywood history walking tour led by Hilton.
He said the structure would be a loss to local history because it reflected growth and progress following World War II.