This is another double painted sign. I think "Chew Star Tobacco" was the original layer, painted in red. You have to look closely to see the word "tobacco." It's underneath the main outlined sign and is extremely faint.
Later came "The Bjelland Apartments - Furnished and Unfurnished" painted in yellow. Those parts that overlay the original red paint are much better preserved than those which were not.
Apparently neighborhood regulars call this building the “Rock Dorm” because so many occupants are musicians. See this sign from NW 16th between Lovejoy and Marshall.