Breneman Capital makes another West Loop acquisition, looking to Chicago's North Side next

After buying a couple of apartment properties in Chicago's West Loop neighborhood, Breneman Capital is turning its attention to the city's North Side.

The Chicago-based multifamily investor paid $18.5 million to buy the Adams Laflin Place apartments at 128 S. Laflin St. The deal for the 52-unit building closed Dec. 29 with seller Michigan Avenue Real Estate Group.

The purchase comes just a couple of months after Breneman's acquisition of the 47-unit Ashland Place apartments also in the West Loop, and also from Michigan Avenue Real Estate Group, which is backed by Chicago Bulls and White Sox owner Jerry Reinsdorf.

"These two deals were the first we've done in Chicago in three years;' Breneman founder and CEO Drew Breneman told the Chicago Business Journal.

Other Chicago neighborhoods the firm plans to target for acquisitions this year include Lincoln Park, Wicker Park and Logan Square, Breneman said.

"We will continue to evaluate newer construction opportunities in the more desirable North Side neighborhoods and also evaluate potential deals in Arizona and Texas and perhaps one or two other markets;' he said.