William Davey went missing on Halloween night while dressed in a silver skeleton costume.
He is known to have gone to a bar in the Lower Cross Street area and was last seen in the Upper Main Street area at about 1.30am on Sunday, 1 November.
The PSNI launched an appeal appeal for information over growing concern for his welfare.
Today, a PSNI statement said the body of a male has been located in the Exchange Road area of the town as part of their investigations.
“A formal identification and post mortem will take place this morning however at this time police do not believe the death is suspicious,” concluded the police statement.