Winnipeg fire crews battled a big blaze at the Bannatyne Apartments building for a second day Monday.

The city said damage is pegged at $2.4 million.

Fire broke out at the vacant building under renovation around 11 a.m. Sunday.

Families in the area told CTV they had to stay inside all day because the smoke was so bad.

Winnipeg music historian John Einarson said it was sad to see the building on fire.

He said Guess Who member Kurt Winter lived in the building before joining the band.

The 1971 album titled So Long, Bannatyne features the building on the cover. After making money, Winter moved his family to Chevrier Boulevard, also featured in a photo on the album.

Bannatyne Apartments owner Patrick Penner told CTV he was shocked to learn his building has caught fire.

He said it has been hard to see more than a million dollars of investment going down the drain.

In the last 18 months, he said he put a new roof on the building, renovated kitchens and replaced sewers.

He said 24 newly-renovated units were to be completed and ready for new tenants by August.

Penner said it was sad fire struck such a significant landmark in Winnipeg, and told CTV he had no idea he owned such a famous building until yesterday when he learned about the building’s musical history.

The cause of the fire is still under investigation.

On Monday, personnel from the Fire Commissioners Office of Manitoba were investigating.

Alex Forrest, President of the United Fire Fighters of Winnipeg, tweeted Monday: “Let’s hope it wasn't but I fear the fire last night is another Arson, very similar to Hargrave. Great job by Firefighters to mitigate danger.”

Winnipeg police are assisting the province with their investigation.

Det. Sgt. Kathy Antymis with the WPS Arson Unit said, while it is arson season, crews must determine the building structural integrity before the fire investigation can be completed.

She urges anyone who sees people entering vacant buildings to report the activity to police.

Antymis said, based on the investigation so far, it does not look like the apartments will need to be torn down.

A city spokesperson said Monday she could not confirm whether or not the building would need to be demolished.

The city said the fire was out by about 3:40 p.m. on Monday, but fire crews will remain on scene for the next 24 hours to make sure it doesn’t flare up again.