Fishman plans gut rehab of Logan Square apartment building, his third on the block

Prolific Logan Square landlord Mark Fishman received permits for a gut-level renovation of a 31-unit apartment building in Logan Square, marking his third rehab on a single block and at least his 28th property in the gentrifying neighborhood.

Fishman’s property management company, M. Fishman & Co., bought the courtyard complex at 2639-2645 North Spaulding Avenue in August for $5.4 million, according to Cook County property records. He also took out a $10 million loan on the building from Heartland Bank & Trust Company.

The city’s buildings department issued a permit Nov. 1 for the company to replace the flooring, wall tiles, kitchen cabinets and plumbing in all 31 units.

Fishman also owns apartment buildings at 2615 and 2647 North Spaulding, according to his website. All three advertise rehabbed studio and 1-bedroom apartments with “vintage details.”

The landlord’s practice of buying large apartment buildings, renovating the interiors and raising rents has made him infamous in the traditionally Hispanic neighborhood, even as other developers rush in to capitalize on renter interest in Logan Square. Resident groups have organized multiple protests outside Fishman’s office, sometimes joined by elected officials.

Builders are also trying to capitalize on still-growing interest in Logan Square. Last month, Farpoint Development pitched a 150-unit apartment building on city-owned land near the Logan Square CTA Blue Line station, and Fifield Companies started work this summer on a 225-unit apartment complex set to be anchored by a Target at 2500 North Milwaukee Avenue.

Meanwhile, single-family home prices in the neighborhood show no signs of cooling, even as surrounding neighborhoods may be starting to plateau.

A representative for Fishman did not immediately respond to a request for comment on Tuesday.