As the name implies, it is across the street from the old courthouse. The square's history dates back to 1849 when a local shoemaker purchased it for $24 and a pair of boots. It became the city's first schoolhouse in 1858, the Portland Hotel in 1890, a parking lot in 1951 and finally, the square as we know it, in 1984.
On either side of the square are sheltered MAX lightrail stops. On one side you will find towering classical columns, while on the other they are toppled over like those of an ancient ruin. On one end is a coffee shop and a cascading waterfall fountain. Between them is an alcove in which many of the younger crowd gather to drink coffee and chat. The center of the square is arranged like an amphitheater, with steps serving as seats when the square is used for musical performances or other events. When not used for events, it is a place where citizens congregate, to talk, juggle or play hacky sack. On many days, you'll find one or two buskers lining the edges of the square.
One of the more recognized pieces of public art in Portland is Seward Johnson's Allow Me. It is on the south side of the square, just above the amphitheater. Allow Me is a bronze statue of a man in a business suit, holding an umbrella and welcoming you with a friendly gesture.
If you happen to be visiting the square at exactly noon, you will hear the Weather Machine, a tall pole topped with a large silver-colored orb. The day's weather is announced with a fanfare of trumpets, flashing lights, and a spray of mist. The orb opens to reveal one of the following: