Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Parkview Furnishes Loan for Ground-Up Construction on Northwest Side
Parkview Financial provided a $9.76-million construction loan to a joint venture of Noah Properties and MPM Holdings for the ground-up construction of 48 apartment units and 10,400-square-feet of ground floor retail located at 6336 to 6360 West Belmont on Chicago’s Northwest Side. With this loan, construction has now commenced and completion is anticipated for late 2021.
The two-building, four-story, elevator-served project will have 56 parking spaces, including 24 garage spaces and 32 surface spaces. The units will feature a balcony or patio, premium appliances, granite countertops, washer/dryer, modern wood cabinetry, and security video surveillance system.
“This is the third loan Parkview has provided to Noah Properties, an experienced developer in the Chicago area,” said Parkview CEO Paul Rahimian. “This project will deliver a high quality apartment product with supporting retail to this submarket which has been experiencing a very high occupancy rate over recent years.”
- ◦Development

