The Altman Woolen Mill was built in 1834 by Jacob Conrad as a gristmill. It was converted in 1854 to a woolen mill. George Altman replaced the mill building in 1860 with a new structure.

There were two dams, one made of logs and one of stone. The channeled water from the two dams ran the woolen mill and the sawmill. In 1906 a steam engine was incorporated into the mill to supplement the waterpower when the head went down or the millrace was frozen.

The interior of the mill held the carding mills and loom on the second floor and the drying rack were found in the attic. Bark chips were stored inside the first floor. They were used for dying the wool.

Today, Altman Woolen Mill feebly stands with 2 1/2 stories. The exterior is covered with weathered, gray plank siding and a rusted tin roof. Windows and doors are gone. The interior is used for storage, but it appears hazardous. The old mill building is decrepit but the site includes remnants of the old millrace and the miller's house that is occupied. (Garber; "Troyer's Hollow Tells Tales of Past").