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I don't know Trev and neither did the previous owner. If the letters are LERC as the previous owner thought then it could be x x Running Club.
Or in could be an A thus Athletics Club. Nike is the Mascot for Olympic Track and Field. (or something to that effect) No idea what the first 2 letters could represent though, it's anybody's guess. There are a hundred major cities that start with L and they all have an eastside.