Hey Phil,
I live just north of Downtown, so maybe I can help...
Corrado Cutlery, 26 N. Clark (Clark & Washington), Open M-F 9-5:
Decent selection of Production knives and some Customs (Mostly Randall), also kitchen knives/gadgets, old time shaving gear (German razors (straight & safety) & Brush/soap mug sets) and personal care stuff. They usually sell at Regular retail prices.
Northwest Cutlery, 810 W. Lake (Lake & Halsted) Open M-S 9-4:
Very Good Selection of production knives (especially folders and multi-tools) and may have 1 or 2 Customs on hand, Almost all brands of kitchen cutlery/gadgets in a wide price range. (They sell alot to the Restaurant/meat packing industry as well as have an on site sharpening service) Some personal care products. They sell at about 10% discount everyday. The area they're in isn't the best, so I advise taking a cab there (about $5 from Michigan ave./Chicago river) Although, I walk there alot of the time and have had no problems. (I also live in the Gold coast area, but are about 6 blocks away from Cabrini Green (Acres), so maybe that has something to do with it
)
Of the 2 I would check out Northwest first, if given the choice. I also worked at Corrado Cutlery about 5 years ago, so I may be somewhat biased as to my choice.
Hope this helps