I absolutely remember that store you're talking about - can't remember the name, but I bought some albums there in the early 90s. They had an old neon sign hanging out front. Did the costume shop expand into that space?
A lot of the record stores by 'my time' were national chains, but I did go to Rose Records a lot (Milwaukee & Golf, Ashland & Belmont and the one on Wabash before it became Tower). You could blow a lot of money at Rose because they sold concert tickets, too.
Here's a scan of a Chet Baker record my old man bought at Seymour's, before it became Jazz Record Mart: