12/01/03 - Dubin Residential Offers Six-Month Free Mortgage at Welbourn Row

Monday, December 1, 2003
Dubin Residential Offers Six-Month Free Mortgage at Welbourn Row
First move-ins at Lakeview development scheduled for this month.

In time for the holidays, Dubin Residential has unveiled a new mortgage incentive at Welbourn Row, a new-construction condominium community in Lake View. The Chicago-based builder will pay the first six months of mortgage payments for buyers who purchase a home between now and the end of the year.

Located at the corner of Wellington and Clybourn, Welbourn Row will comprise approximately 140 condominiums, plus retail space. Sales are open for the first two phases, and first move-ins are scheduled to begin this month. Homes offer one to two bedrooms or one bedroom plus den, one to two baths, and balconies. Base prices range from $186,900 to $295,900, and homes measure 875 to 1,206 square feet of space. Deeded parking costs $24,900 for a garage space and $19,900 for an outdoor space.

“ With its Lake View location and attractive prices, Welbourn Row has great appeal for first-time buyers,” said Mike Kelahan, sales and marketing director for Dubin Residential. “Plus, the free mortgage for six months makes the financial transition into homeownership even easier. New owners can start building home equity immediately, while saving up to $8,600 in mortgage payments.”

The free six-month mortgage is available through Chicago Bancorp. The incentive is effective the date of closing and is dependent on as little as 5-percent down payment, either a 3-year or 5-year ARM with a 30-year amortization, credit approval and owner occupancy. Monthly assessments, taxes and insurance are not included.

When all four phases are completed, Welbourn Row will occupy an entire city block with six four-story brick buildings. Phases I and II consist of two buildings with 15 homes apiece and a third building with 27 homes. Residences feature private balconies; 9-foot ceilings; hardwood flooring in living rooms, kitchens, foyers and hallways; carpeting in dens and bedrooms; phone and cable wiring; washer/dryer hookups; and individual gas forced-air heat and central air conditioning.

Twelve available floor plans include Celebrate, a 985-square-foot corner unit in Phase I. Base-priced from $250,900 to $255,900, it has two bedrooms and two baths.

As with all homes at Welbourn Row, the centerpiece of the Celebrate floor plan is an open, free-flowing kitchen/living/dining room, Kelahan said. The space measures 16½ by 20 feet and is lit by three southern windows and a pair of sliding glass doors that open onto the 40-square-foot corner balcony.

“ It is an efficient design perfect for people with busy urban lifestyles and who value convenience over formality. Snacks can be prepared while watching a movie with friends, and with a full bath for each bedroom, couples and roommates never feel on top of each other when trying to get ready in the morning,” Kelahan said.

The kitchen area includes a choice of hickory or oak kitchen cabinets; stainless-steel, double-bowl sink; optional kitchen island; and a Whirlpool gas range, 18-cubic-foot refrigerator, five-cycle dishwasher, and built-in microwave/hood fan combination or range hood.

Baths offer 6-foot soaking tubs; designer ceramic tiling on floors, bath and shower surrounds; a choice of hickory or oak cabinets; and cultured marble vanity tops.

The community is located just north of the Clybourn shopping corridor, close to stores such as Costco and Old Navy. Nearby recreation includes the Diversey Bowl, the AMC City North 14 movie theaters and Hamlin Park, which offers two city blocks of green space and numerous sports and fitness facilities. Dining options in the vicinity include the Meritage Café, Café Bolero and Bar Louie.

“ Welbourn Row has given us the rare chance to develop an entire city block within one of Chicago’s most popular neighborhoods. Buyers are close to many great shopping outlets, and once Welbourn Row is completed, the development’s retail space will attract tenants such as a dry cleaner or dentist, which will provide further convenience for residents,” Kelahan said.

The Welbourn Row sales center is located at 2951 N. Clybourn Ave., one mile east of the Kennedy I-90 Expressway at the southeast corner of Wellington and Clybourn.

If driving east on Interstate 90, take the 46A/California Avenue exit. Turn left onto Diversey, and left again onto Clybourn. If heading west on Interstate 90, take the 46B/W Diversey exit, go east on Diversey and turn left onto Clybourn.

Sales hours are Saturday through Wednesday, 11 a.m. to 5 p.m., or by appointment. For more information, call (773) 528-8000.

Building condominiums and townhomes in Chicago since the early 1990s, Dubin Residential has earned a reputation for quality and value. The company is currently developing more than 400 residences at such communities as Ainslie Row in West Albany Park, Arcadia Place in the West Loop, Emerson Point in Rogers Park, Kilbourn Court on the Near Northwest Side and The Courts of Evanston.

Prices are subject to change.