As it remained unfinished when time came for the One of These Nights album to be recorded, Henley and Frey assisted Meisner in completing it.

"[3] Frey and Henley finished the song in a house they were sharing in Beverly Hills, together with many of the tracks for the album One of These Nights.

It was also the last Eagles single to feature founding member Bernie Leadon before he was replaced by guitarist Joe Walsh.

The song was performed with piano and acoustic guitar accompaniment, and 1970s teen idol David Cassidy singing in the backing vocals.

[9] By the time they had reached Knoxville, Tennessee in June 1977, the band was feeling the strain of a long tour, with Meisner unhappy and suffering from a stomach ulcer.

[14] Frey did, however, perform the song as part of his solo tour in 1986, as documented on the posthumous 2021 live album Feelin' the Heat.

[15][16] Billboard described "Take It to the Limit" as "a strong mid-tempo rocker" with "distinctive harmonies" that sounds like the Beach Boys at times.

[17] Cash Box called it "a masterpiece of a background" with "more of the easygoing melodies and lyrics that have made [the Eagles] so hot over their last several releases.

"[18] Record World said that "The group's harmony sound grows more attractive with each successive listening on this irresistible ballad.

The song was covered by country musicians Willie Nelson and Waylon Jennings as the title track of their duet album, Take It to the Limit, which was released in 1983.