One of Chicago's most iconic record stores is on borrowed time. Jazz Record Mart will leave its storefront at 27 E Illinois as owner Bob Koester confirmed a deal was in place for a private record collector to buy his entire inventory. If the deal falls through, Koester says he wants to relocate the store closer to his North Center-based record label, Delmark Records.

Koester bought Seymour's Record Mart in 1959 and moved it several times throughout downtown before settling at its current location a decade ago, according to DNA Info. Koester's rent is $12k/month but rising River North rents have priced him out of the market, and his son doesn't want to follow him into the retail market.

Koester says he'll give his landlord 60 days notice once the deal for his records is complete. The move leaves Reckless Records as the only record store downtown. [DNA]