Closed in Downtown Elmhurst: Let's Have a Party

After 20+ years of operating in downtown Elmhurst, Let's Have a Party is closed.  The storefront at 152 N. York Street is empty.  Unfortunately, in our 2+ years in town, I never set foot in the store - and I'm guessing that many other folks didn't shop there either - and that's why they're now closed.  The company appears to have been a full-service party shop selling party goods like balloons, hats, banners and such, but they also were a caterer?  At least that's what the one review on their Yelp page says.  

What is a loss for the business is an opportunity for another entrepreneur.  The location of the store - now vacant - couldn't be more "prime".  The storefront is one door north of the York Theatre and adjacent to what appears to be the viable strip of stores in Downtown (Enzee, Jamba Juice, Rocky Mountain Chocolates, Play-N-Trade, Starbucks, and the Heavenly Cupcake Shop.

So...what's next for this location?  This is another big opportunity for Downtown.   There's now THREE high-profile vacancies.  The magic shop at the corner of First and Addison, the former Armstrong Aerospace building at 111 N. Addison and now this store at 152 N. York Street.

Seems that since the economy still isn't totally back on track, I'm guessing we won't see huge investments in these locations.  But...why not dream?  What about a crafty-man retailer (for me, please!)?  Or another boutique retailer that sells higher-end kitchen stuff?  I think both of those would work in town.  Or, will we aim low and get another Fanny May? 

The listing is here and they're asking $1850/month in rent.  Not sure what the economics look like in retail, so I'm wondering what that type of location cost requires as far as sales.  Any experts out there?