Seyfried Buys Sears Building

Seyfried Buys Sears Building

Wednesday April 1, 1959

The 312 S. Main St building occupied by Sears Roebuck & Co. has been purchased by Seyfried Jewelers of Ann Arbor.

Cal A. Seyfried, one of four Seyfried firm partners, said the 26,136 square - foot downtown structure was purchased as an investment from Mrs. B. F. Schumacher of 1624 Brooklyn Ave.

Seyfried said the building cost the Seyfried company less than the $265,000 figure at which it was appraised when it was part of the B. F. Schumacher Estate.

Kline’s Department Store of 306-310 S. Main on Jan. 1 secured a 20-year net lease on the Sears Roebuck building which was built by Burt F. Schumacher and Etta W. Schumacher for the latter firm in 1941. Under the Seyfried purchase, the lease arrangements are not changed.

Julius Schaffer, general manager of the local Kline’s store, said last year that Kline’s contemplates expanding into the Sears store in about two years from the Jan. 1 date.

Schaffer said that Kline’s has negotiated a “short-term” sublease with Sears, which presumably will remain in effect; until Sears can relocate elsewhere in the Ann Arbor area. No plans on relocation have been announced by Sears.

The purchase of the Sears building adds to Seyfried’s downtown holdings which include ownership of properties at 303, 305 and 307 S. Main.