Logan Square’s rental market just sent another clear signal that it is not cooling off anytime soon. A 24-unit boutique building known as Logan Station has sold for $10.5 million to local investor Breneman Capital, with the property at 2504-16 N. Willetts Court trading fully occupied. Brokers on the deal say the quiet midweek closing underscores continued demand for well-located multifamily on Chicago’s Northwest Side.
Deal details
According to ConnectCRE, Interra Senior Managing Partner Joe Smazal and Director Mark Dykstra represented a confidential seller and brought in Breneman Capital as the buyer. The outlet reports that the building traded for $10.5 million, which comes out to roughly $437,500 per unit. Smazal told the publication that Interra fielded multiple written offers and ultimately closed the deal at about 99% of the asking price.
Property profile
Marketing materials from Interra Realty describe Logan Station as a 24-unit building completed in 2007, with a mix of six one-bedroom, 12 two-bedroom, and six three-bedroom layouts. Most of the residences are bi-level and average roughly 1,500 square feet, giving them more of a townhouse feel than a typical walk-up. The brokerage highlights condo-style finishes, including granite countertops, stainless-steel appliances, in-unit laundry, and individual HVAC, features that help the property stand out in the Logan Square rental pool.
Buyer plans and price math
ConnectCRE reports that Breneman Capital is planning a light value-add program aimed at interior refreshes while keeping the building occupied. At roughly $437,500 per apartment, the purchase price suggests investors are still willing to pay up for larger layouts near transit in established neighborhoods like Logan Square, provided the buildings already show well and can be upgraded without clearing out tenants.
Why local investors are still buying
Industry research points to a combo of tightening supply and steady rent growth that continues to draw capital into smaller multifamily deals across Chicago. CBRE’s 2026 market outlook for Chicago highlights ongoing rent gains and a constrained development pipeline in the city, conditions that can support pricing on existing assets. Meanwhile, CoStar’s 2026 preview points to gradually improving fundamentals for multifamily as new completions slow, a backdrop that helps explain why properties like Logan Station still draw multiple offers even in a more selective lending environment.
