We analyze the existence, linear stability, and slow dynamics of localized 1D spike patterns for a Keller-Segel model of chemotaxis that includes the effect of logistic growth of the cellular population. Our analysis of localized patterns for this two-component reaction-diffusion (RD) model is based, not on the usual limit of a large chemotactic drift coefficient, but instead on the singular limit of an asymptotically small diffusivity d2=epsilon 2MUCH LESS-THAN1\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$d_2=\epsilon <^>2\ll 1$$\end{document} of the chemoattractant concentration field. In the limit d2MUCH LESS-THAN1\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$d_2\ll 1$$\end{document}, steady-state and quasi-equilibrium 1D multi-spike patterns are constructed asymptotically. To determine the linear stability of steady-state N-spike patterns, we analyze the spectral properties associated with both the "large" O(1)\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$${{\mathcal {O}}}(1)$$\end{document} and the "small" o(1) eigenvalues associated with the linearization of the Keller-Segel model. By analyzing a nonlocal eigenvalue problem characterizing the large eigenvalues, it is shown that N-spike equilibria can be destabilized by a zero-eigenvalue crossing leading to a competition instability if the cellular diffusion rate d1\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$d_1$$\end{document} exceeds a threshold, or from a Hopf bifurcation if a relaxation time constant tau\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$\tau $$\end{document} is too large. In addition, a matrix eigenvalue problem that governs the stability properties of an N-spike steady-state with respect to the small eigenvalues is derived. From an analysis of this matrix problem, an explicit range of d1\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$d_1$$\end{document} where the N-spike steady-state is stable to the small eigenvalues is identified. Finally, for quasi-equilibrium spike patterns that are stable on an O(1)\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$${{\mathcal {O}}}(1)$$\end{document} time-scale, we derive a differential algebraic system (DAE) governing the slow dynamics of a collection of localized spikes. Unexpectedly, our analysis of the KS model with logistic growth in the singular limit d2MUCH LESS-THAN1\documentclass[12pt]{minimal} \usepackage{amsmath} \usepackage{wasysym} \usepackage{amsfonts} \usepackage{amssymb} \usepackage{amsbsy} \usepackage{mathrsfs} \usepackage{upgreek} \setlength{\oddsidemargin}{-69pt} \begin{document}$$d_2\ll 1$$\end{document} is rather closely related to the analysis of spike patterns for the Gierer-Meinhardt RD system.