Southend Quasi-Hidden fabulousness

I've been a fan of this Sputnik-type thing for years now, but I have no idea why it survived the recent remodeling of this building, since the new parts have pretty much obscured it from the street (I had to take this pic from the parking lot behind the restaurant).

It's original use predates my knowledge of the history of the neighborhood. Maybe someone out there can enlighten me?