It looks sort of like Engravers Gothic, but the S is much more closed. If this is actual fabricated lettering on a building then there is no reason for it to be a font, although a typeface or font could have been the model for the lettering.

- Mike Yanega

Thanks for your research. Engravers Gothic has got some similarities.
http://new.myfonts.com/fonts/bitstream/engravers-gothic/

According to my source, the characters where scanned from a book. So their is hope.

I think it is Egiptian Sans Serif from Intellecta Design.

Thanks Justin_Ch, yes I also noticed Egiptian Sans Serif. The over all shapes are really close, but it lacks ray shading and drop shawdow.

It seams like Intellecta Design's makes fonts from raw scans of old prints. Charming, but sometimes you just wan't a clean digital version and do the rest yourself :D