Several weeks ago, I took this picture of King's Market at 5th Street and South Main while on the L.A. Conservancy's Main Street tour.
Then in rummaging through the archives, I found this photo dated Jan. 26, 1912:
The 1912 Times article reports that the building had just been sold for $325,000 ($6,783,870.12 USD 2006), which was then a record, and notes that it was originally considered something of a folly because it was the first business block south of 3rd Street, with nothing but orange groves between 3rd and 5th streets.
The unidentified Eastern developers planned to replace the building with a 12-story skyscraper, The Times said.
I will try to make a larger scan of this picture to show more detail, but the curlicue border drives my scanner crazy. Note the style of street lamp and the electric sign over the drugstore
Larger scan here: Download 1912_0126_main_big02.jpg
A sign in one of the windows says: "Have some pictures made to-day. You will never be as young again."