Birmingham, MI — The three sisters who run Peabody’s Fine Dining & Spirits said Friday they are ending the restaurant’s four-decade run in downtown Birmingham.

The last day of business will be Saturday, July 30, according to a statement from Susan Peabody, who runs the family business with sisters Nancy and Barbara.

A grocery store was housed in the building at 34965 Woodward Ave. for 29 years, and the restaurant for 41.

The sisters said in the statement “it has been a grand venture and adventure for us all.”

“It has been an honor to serve our friends, local customers and the community for many years. We hope you will come in between now and our last day, Saturday, July 30, and enjoy everything that Peabody’s has been and still is. …
“Again, we thank you for your friendship, patronage and loyalty throughout the years. This was without a doubt the very best years of our lives. We hope it will be a wonderful memory for you.

Customers are reminded to redeem forgotten, unused gift certificates before the end of the month.

A Southfield developer plans to transform the property into a five-story mixed-use developmentwith two floors dedicated to residential units, office and retail space, and two floors of underground parking. The Birmingham City Commission approved a $1.3 million brownfield plan for the development this spring.

Under brownfield plans, the developer pays the cleanup costs out-of-pocket and then bills the city for the expenses, which reimburses them by “capturing” the taxes generated on the improved project.

Alden Development expects the new building will increase the taxable value of the property to $7.5 million, up from the 2015 taxable value of $658,000.