Yet another sign has been stolen from the outside of Honest Ed's discount store in Toronto.

Russell Lazar, general manager of Honest Ed's, says it's fifth sign stolen in the past 18 months from the exterior of the store at Bathurst and Bloor Streets.

The store is offering a $3,000 reward for the arrest and conviction of those responsible for the theft of the latest sign or any of the previous signs.

"It's ridiculous," Lazar said in an interview. "Unfortunately, people enjoy those outdoor signs so much. They are all handpainted. Obviously, they are in demand."

The two-and-a-half by one-and-a-half metre sign, in white, black and gold paint, reads: "Hello! We are still open! Until Dec. 31st, 2016." Lazar said he believes it went missing overnight on Sunday. It is made of corrugated plastic.

Nostalgia could be the main motive behind the thefts. Soon after the famous store closes it will be demolished to make way for a mixed-use development that will include rental apartments, retail and restaurants.

The developers will even take down the iconic Honest Ed's sign that has dominated the intersection for decades.

The sign that was stolen was on the store's Markham Street side and is one of three signs with the same message. The other two are located on the store's Bloor Street West and Bathurst Street sides.

Lazar said he thinks the Markham Street sign was targeted because there is less traffic on that side of the store. The stolen sign, he said, was actually on top of another sign, which is still there.

Honest Ed's has reported the theft to Toronto police.

"I am very disappointed that this happened again and we may have to remove all of our exterior signs," Lazar said in a statement.

In April, a large wooden sign was stolen from a case on the outside of the store. That sign, in royal blue lettering, read: "Honest Ed's Pharmacy professional services since 1960."

Honest Ed's was founded by Ed Mirvish in 1948.