Village Corner will close its South University location on Nov. 6.

Shortly after that, owner Dick Scheer says, he expects to re-open in a new location.

Village Corner's wine inventory will be moved to the new location, which should be announced soon.

AnnArbor.com files

Negotiations are concluding, so he won’t disclose where the store will be located.

But, he says, he can say with certainty that his long-time South University market and party store — with a heavy emphasis on its extensive wine collection — will wind down in the current location during the week after Halloween.

“(Nov. 6) will be our last day,” Scheer said.

The move clears the way for construction of 601 Forest, the student high-rise under development by a partnership led by Ron Hughes.

The project will replace existing buildings like Village Corner, the former Bagel Factory, and the properties housing the Laundromat and Campus Student Bike Shop on South Forest.

Bill Loy, owner of the bike shop for more than 40 years, said he'll move inventory and all operations to his other Ann Arbor store at 336 Maynard.

He may move back to the location when 601 Forest is concluded in three to four years, Loy said.

Bill Loy will consolidate his Campus Student Bike Shop location on South University into his store on Maynard by early November.

In the meantime, he'll put excess inventory into storage.

"I've been here a long time," Loy said. "A lot of people will miss my free air hose and tools here ... But I do have them at the other store, too. They can come over there."

The move-outs have been pending for some time since the project was put on hold for a few years. It was reactivated this fall.

Scheer said Sept. 30 the store wouldn't close for good, but confirmed he was actively negotiating with Hughes to move his store.

Once the new location is finalized, Scheer will apply to the state Liquor Control Commission to transfer the store’s beer and wine license. He also plans to put the license allowing liquor sales in escrow.

“We’re trying not to move too far out of the area,” he said. “That was one of our principles in our search.

“But we’re also looking for better parking.”

Perishable and frozen food inventory will start to taper off over coming weeks, Scheer said.

But he added the store should be busy through Halloween, so shoppers shouldn’t see too much of a difference on the shelves. That’s particularly true for alcohol, since the beer and wine can make the move, and the liquor can be sold back to the distributor.

“We’re not going into much of a panic mode,” Scheer said of the pending move.

Loy said his business has declined in recent years, falling from as many as 600 new bike sales at the beginning of other fall semesters to a total of about 20 this year.

He also offers repairs and rentals, and his used bike sales are strong.

He's hoping the move doesn't hurt business.

"We'll only be 4-5 blocks away," Loy said. "That isn't very far."

Paula Gardner is Business News Director of AnnArbor.com. Contact her at 734-623-2586 or by email. Sign up for the weekly Business Review newsletter, distributed every Thursday, here.