One longtime Campustown business will shut its doors soon, making way for another to expand.

After 17 years in Campustown, Grandma’s Jewelry Box, 2530 Lincoln Way, is going out of business. The store, which is holding an “everything must go” sale, should close by December, said owner Joan Dau.

Grandma’s Jewelry Box opened in 1987 and was half the size that it is today. During the past 17 years, the store has become a well-known business, specializing in jewelry and assorted knickknacks.

Mayhem Collectibles, 2532 Lincoln Way, has decided to expand its business into the building that is Grandma’s Jewelry Box.

When the owner of Mayhem Collectibles approached Grandma’s owners wanting to buy the store, Dau said she and her husband saw this as a great opportunity to close the store and retire.

Mayhem Collectibles, which has been on Lincoln Way for 15 years, has decided to expand and open a game room in the building next door.

The game room will house tournaments and special event nights in which students will be able to participate. Robert Josephson, co-owner of Mayhem, said that the new game room will be open by spring semester.

Many Campustown business owners said they were disappointed by the closing of Grandma’s Jewelry Box.

“I am sad to see the store close, as it has been a staple of Campustown for as long as I can remember,” Josephson said.

He said the Daus have talked for more than five years about retiring and closing the store.

Josephson said the shops in Campustown create a niche community, and Grandma’s Jewelry Box has always played a big part in that niche.

Josephson said the closing of the store was bittersweet.

“It gives Mayhem a chance to expand and Joan Dau a chance to retire,” he said. “On the other hand, the customers will miss the store greatly.”

Lynn Lloyd, a Campustown landlord and part owner of Ridiculous Rags, 2414 Lincoln Way, said she will miss having Grandma’s Jewelry Box around.

“It is difficult for businesses to make it in Campustown, but Grandma’s Jewelry Box was one that thrived,” Lloyd said.

“It was one of the few businesses that brought people in from outlying communities.”

Dau said she has always enjoyed working with the ISU students.

“They kept me feeling young,” Dau said.

Dau said she has employed many ISU students who have kept returning to work through the school years.

“We knew that this time would eventually come, but we are all very sad to see the place go,” she said.