Construction Starting on Townhouse Development in Chicago

Construction starting on Townhouse Development in Chicago

Parkview Financial is providing a $22.75 million construction loan to a joint venture of Noah Properties and MPM Holdings for a townhouse development. The site is located at 4155 W. Melrose Street, 3202 N. Kildare Street and 4200 W. Belmont Avenue in the Avondale neighborhood of Chicago on 2.2 acres.

According to Yield Pro, construction has just recently started and the completion date is estimated to be in the spring of 2021. 

The project will include the following:

 

 - Eight 3-story buildings

 - Mix of three, four, and five bedroom townhomes each with a 2 or 3 car garage

 - Private rooftop

 - Private yard

 - Fireplace

 - High-end kitchen appliance package

 - Custom cabinetry

 - Clubhouse with gym, kitchen and party room

 - Playground

 - Grilling stations

 - Dog Run and dog washing area

 

Most of the homes in the Avondale area were built prior to 1939 and new construction is in high demand.

 

DataBid Ads - Win Projects Now - 728x90

 

Avondale was recently recognized as one of the nation's "10 hottest, need-to-visit 'hoods" by travel website Lonely Planet.

 

"This marks Parkview's second construction loan we have provided to this experienced joint venture. 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."

CEO of Parkview Financial | Paul Rahimian

 

Noah Properties specializes in developing luxury single-family, condominium, and apartment developments and has been in the Chicago area since 2002. They are known for their precision to detail and each project is developed with their family in mind and picturing themselves living in the space. From the architectural design to the interior finishes, every piece of the project is hand selected with purpose and practicality.

 

DataBid is currently reporting on this project - New Housing Development Belmont Gardens/Kilbourn Park - Chicago   (0098082919)

 

Posted by Judy Lamelza

Need the details on a specific Project or Company?
 
See how DataBid can help your company find projects and increase your odds of winning.

 

TRY DATABID TODAY

DataBid Ad - Try it for free now
PlanHub Logo Wide
DataBid Ad - Find Track Win