September 18, 2020
Parkview Financial provided a $22.75-million construction loan to a joint venture of Noah Properties and MPM Holdings for the development of a 67-unit townhouse project. Sited on 2.2 acres at 4155 W. Melrose St., 3202 N. Kildare St. and 4200 W. Belmont Ave. in Avondale on Chicago’s Northwest Side, the project will consist of eight three-story buildings.
“This marks Parkview’s second construction loan we have provided to this experienced joint venture,” said Paul Rahimian, CEO of Parkview Financial. “We were pleased with their performance on the first project and are confident they will deliver a quality project to the up-and-coming Avondale neighborhood of Chicago.”
Construction recently commenced, with completion anticipated for spring 2021.
Noah Properties specializes in developing luxury single-family, condominium, and apartment developments. The company has been a developer and property manager in the Chicago area since 2002.
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