This lovely ghost sign is at 13 The Crescent, Ascot Vale, VIC 3032, and is visible from the train as you pass through Ascot Vale station in Melbourne. It is on the right-hand side if you are facing city on the Craigieburn line. It reads:
MILK & NUT-MILK CHOCOLATE
The main picture is a cropped close-up of the sign, the picture below is the wider view of the building it graces.