Here's a portable O27 layout that I built a few years ago for a series of articles in OGR magazine called the Reading Central.
It was built in a space of about 30"x80", or the size of a door. It was built with removable end pieces (the curves) for increased portability. The two main scenery sections at each end also lift off for transport.
It featured a hand-operated sector plate (a partial turntable-like device commonly used on "micro-layouts") that allows more operation in the small space. Most of this device is hidden under the city with an access opening on the end of the layout.
The variety of equipment that will run on O27 is amazing if you watch the clearances along the mainline. Also, the number of small scenes that can be worked into a layout this size is also amazing if you use some creativity.
The articles can be found in OGR magazine Runs 247 and 248 (Jan - Mar 2011).
The finished "coal mining" end:
The finished "city" end:
The entire layout:
Some scenes:
Jim