Reminds me of the dilapidated house that's right beside that new condo development on Sherbourne, just south of Queen north of Richmond (not that Champs is a dilapidated house, just that it too is on a sliver on land).
Personally, I'm glad to see Champs' still there. I find it fascinating to see the contrast between the teensy store and the looming podium next door. For me, I am thankful the owners haven't sold, though it is all but inevitable that a developer throws enough money at them one day and builds another condo. Which is also fine by me!
Based on the very few details I have, it'll likely sell when the owner passes away (a big guess here). As mentioned, there is a sentimentality factor in play.