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Honest Ed's is up for sale and could close its iconic Toronto store. The store's owner could sell the building and adjacent properties for redevelopment, which could include a substantial residential component.

Honest Ed's is probably best known for its exterior signage, including one with about 23,000 light bulbs. The 160,000 square foot store has discounted items and its interiors could be considered garish. At the same time, the retailer has become a true fixture at the corner of Bloor Street West and Bathurst Street.

Honest Ed's opened in 1948 and expanded numerous times over the years. Founder Ed Mirvish died in 2007. It became well known for promotions including free Christmas turkeys.

If the store is sold for redevelopment, the store's exterior signage could be at least partially preserved or incorporated into a new project not unlike what could be done with the former location of iconic music retailer Sam The Record Man on Yonge Street.

Our tip for this article was from this National Post article.

[Honest Ed's website]