Breneman Capital Successfully Sells Ashland and Greenview Properties
In 2025, Breneman Capital successfully sold two multifamily properties in Chicago:
Ashland, located at 5019 N Ashland Avenue in the Ravenswood neighborhood
Greenview, located at 1300 N Greenview Avenue in the Noble Square neighborhood
These dispositions further demonstrate Breneman Capital’s continued success in identifying, repositioning, and executing high-quality investments. Both investments were originally sourced off-market and through repeat broker relationships, which is a testament to our deep-rooted connections in the Chicago multifamily market.
Ashland is a 7-unit multifamily property acquired in June 2017. Breneman Capital purchased the property for $1,450,000 after recognizing the opportunity to add value through unit interior renovations as well as the addition of a seventh unit via obtaining a zoning change. Over the life of the investment, we raised revenue by 77% which drove a 79% increase in value from acquisition to sale. Ashland generated a 39% IRR and a 2.7x Equity Multiple.
Greenview is a 6-unit multifamily property acquired in March 2017 via 1031 exchange. Breneman Capital purchased Greenview for $1,622,500 after sourcing the opportunity through a trusted relationship and providing certainty of close that was critical to the seller. Within the first five months of ownership, we distributed 102% of the initial required equity via tax-free refinance net proceeds. (This very quick refinance is in large part why this investment returned an excessive IRR.) Over our hold period, we increased revenue 31%, driving a 35% increase in value from acquisition to sale. Greenview generated a 52% IRR and a 2.8x Equity Multiple.
Although these properties were sold amid continued market volatility and elevated interest rates, both investments delivered exceptional returns. These dispositions further validate Breneman Capital’s disciplined approach to sourcing, execution, and long-term ownership. We would like to thank our investors for their continued trust and support, and we look forward to building upon this momentum.