The original Chapel Hill store was under different management and closed its doors in the mid-1990s.
Schoolkids owner Stephen Judge said the company had up to six stores at a time, but it was the most difficult to watch the Chapel Hill store close.
“Me coming in and eventually buying the Raleigh store and bringing the Schoolkids name back to Chapel Hill has been a goal of mine since 2008,” Judge said.
The new store will replace CD Alley, another record store on Franklin Street, which is owned by Ryan Richardson.
Judge said he and Richardson have had a relationship for years.
He said they had an agreement that when Richardson was ready to leave the business, Judge would take over the location.
“We’ve been talking about this for years,” Judge said.
“It just never really went into a serious discussion.”
Richardson has been the owner of CD Alley since June 2006.
He said there will not be any interruptions for the business throughout the change of ownership.
Richardson also said there will be very few changes in the store.
Richardson added that he will work at the store to help with the transitionary period until he starts school again in May.
“(Judge) has told me that he wants to keep it the same as much as possible,” Richardson said.
“The name will change, but the vibe will remain the same.”
He said he hopes fans of CD Alley will continue to feel as though they are going to CD Alley.
Judge said the previous store in Chapel Hill was a pivotal part of Franklin Street business.
He said the store also played a large role in the music community in the area at the time.
Ethan Clauset, owner of All Day Records in Carrboro, said record stores are a major part of the music community.
“You can’t have music without people interacting with each other in some way,” Clauset said.