The owner of the dilapidated California Theatre building in downtown San Diego must either sell or demolish the site, according to a legal settlement reached with the city, it was announced Wednesday.

The resolution of a lawsuit filed by the city two years ago holds that the nearly century-old abandoned building on C Street must be listed for sale by the end of the month, after which its owners will have until the end of next year to finalize the sale of the property. If the sale does not go through by then, the building's owner, Caydon Property Group, will have 90 days to obtain permits for a controlled demolition.

For many, the building is better known for the Caliente! Old Mexico horse-racing mural on the back of the building along Third Avenue, as opposed to its long-shuttered box of

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