Townhome project secures $22.75 million construction loan

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A joint venture of Noah Properties and MPM Holdings secured $22.75 million for the development of a 67-unit townhouse project in Chicago.

The site is located on 2.2 acres at 4155 W. Melrose St., 3202 N. Kildare St., and 4200 W. Belmont Ave. in the Avondale neighborhood. The project will consist of eight, three-story buildings.

The project will offer a mix of three-, four-, and five-bedroom townhomes each with a two- or three-car garage. All of the units will include a private rooftop, private yard, fireplace, kitchen appliance package, and custom cabinetry. The project will also feature a clubhouse with gym, kitchen, and party room; playground; grilling stations; and a dog run and dog washing area.

Construction is underway and is expected to be completed in spring 2021.

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