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Chicago & Midwest  + North Side  + Apartments  | 

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.” 

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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).

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