They’re sticking a “For Sale” sign next to the Hollywood sign, the Los Angeles Times reports.

A Chicago investment group said Tuesday that Los Angeles officials had failed to come up with the cash to preserve the mountaintop next to the iconic sign, so it has put the ridge up for sale.

Cahuenga Peak, the backdrop to one of L.A.’s most famous postcard views, will carry a $22-million price tag, its current owners said, and could attract buyers seeking the ultimate L.A. pad.

But the listing immediately generated loud protests from city officials and Hollywood residents, who say building homes on Cahuenga Peak would mar hillside vistas and scar a pristine hilltop.

“That mountain should not be cluttered,” said L.A. Councilman Tom LaBonge. “It’s good for the psyche of Los Angeles.”

The 138-acre property is zoned for five luxury homes, according to investment group partner Keith Dickson. “It could be used for one large home or a family compound,” he said.

Fox River Financial Resources acquired the mountaintop in 2002 from the estate of Howard Hughes for $1.675 million.

The eccentric tycoon had bought it in 1940 with plans to build a love nest for actress Ginger Rogers.

Read the full L.A. Times story

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