The First and Second Street Historic District is the best preserved historic residential neighborhood in New Glarus. Filled with houses built primarily between 1890 and 1920, it represents an era of economic growth in New Glarus that resulted in the construction of high-quality middle and upper middle class homes in the Queen Anne, Craftsman, and American Foursquare styles popular during that era.

What is especially of interest is that the district contains the best concentration of homes built by local builder Oswald Altman. Altman put his stamp on most of the houses built in the Queen Anne, Craftsman, and American Foursquare styles. Altman used many similar plans for houses in the district and favored building with brick, although not exclusively.

While Altman built the most distinctive Queen Anne style house in New Glarus in this district, it is his modest-sized, brick constructed Queen Anne style house plan that stands out. This plan was especially popular in New Glarus during the first two decades of the twentieth century, and many examples are found in the district. Altman also used similar plans for many of the Craftsman and American Foursquare houses he built in the district. This construction gives the district a cohesiveness that cannot be found in other neighborhoods in New Glarus. The houses in this district are private residences, please respect the privacy of the occupants.