“I. Magnin opened its Wilshire store in 1939. The new high end department store was located just three blocks west of Bullock’s Wilshire and became a formidable competitor.”
“The stunning, all-marble I. Magnin was designed by Myron Hunt, architect of the Ambassador Hotel. Hunt experimented with gleaming white marble over steel, putting black granite trim at sidewalk level. The result, said one reviewer, was ‘a symphony of beauty.'”
“Built at a cost of $3,000,000, the building was operated entirely by electricity and completely air-conditioned. The bottom floor is faced with black marble.”
Excerpts and image from http://waterandpower.org/museum/Early_LA_Buildings%20(1925%20+)_6_of_8.html .