Oregon Transfer Company Building, 1910 1911
One of the first warehouse-to-loft conversions in the Pearl District was the old Chown Pella warehouse on NW 13th between Flanders and Glisan. At the time, most buildings in the area were low one- to four-stories in height and this east-facing wall was visible for quite a distance. Conversion to lofts cut windows in the wall but the signs were just barely touched. Slightly more faded now, the signs and water tower are still a treat to see. Get this view from NW Flanders between 11th and 12th.
Before its incarnation as the Chown warehouse, this was home to Oregon Transfer Co. Warehouse No. 1 was the north building, Warehouse No. 2 was the south building. If you look at the red/orange band of paint under the top of the east face of the south building in just the right light, you can still barely make out "Oregon Transfer Co."
Here's the northeast wall in 2007. Obviously some damage to the signs but still very visually appealing.