Apartment project secures $9.8 million construction loan

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Parkview Financial has 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-sq.-ft. of ground floor retail.

The site is at 6336 to 6360 West Belmont in the Northwest submarket of Chicago.

The two-building, four-story, elevator-served project will be situated on a .75-acre lot and will have 56 parking spaces, of which 24 are garage spaces and 32 are surface spaces. The units will feature a balcony or patio, premium appliances, granite countertops, washer/dryer, modern wood cabinetry, and security video surveillance system.

Construction is underway and is expected to be completed late 2021.

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