In Need of a Savior, Iconic Elrod House in Palm Springs in Foreclosure

Elrod House, the spectacular Palm Springs hillside property featured in "Diamonds Are Forever" along with James Bond, has fallen into default and is on the market for $8 million, The Orange County Register reports.

The extraordinary home, with a 60-foot dome that fans out in nine petals, was designed by renowned architect John Lautner for interior designer Arthur Elrod in 1969. The home's circular living room took a star turn in a "Diamonds" fight scene between Bond and two femme fatales, which ended in the home's swimming pool.

The 9,000-square-foot home is considered a prime example of Lautner's "free architecture" style, where nature and design collaborate. The home uses boulders uncovered during excavation as design elements throughout the house, tying the contemporary, circular home to its desert and mountain views.

Chris Menrad, president of the Palm Springs Modern Committee which preserves modern architecture and design, told the Register that the Elrod House is "one of John Lautner's greatest works" and "a tour de force in board-formed concrete." Lautner also designed Bob Hope's spaceship-shaped house, which is still on the market in Palm Springs for $25 million.

The Elrod House features five bedrooms and five bathrooms and was owned by real estate investor Michael J. Kilroy, who reportedly collected several Palm Springs celebrity properties, including Steve McQueen's and Jack Benny's former homes, which are also in default, the Register says. Kilroy reportedly bought the Elrod House in 2003 for $5.5 million.