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Chicago & Midwest  + North Side  + Finance  | 

Townhouse Project Lands $23M Financing

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.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Development
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