How NU’s 50-Year-Plan Affects the Evanston Lakefront

Northwestern’s 50-year vision may change the surrounding real estate landscape as much as it changes its own. A blog on EvanstonNow describes the plans, which include opening up pedestrian corridors leading to the lakefront and expanding views of the water by destroying an existing parking deck. While one commenter claims that North-South bike access will get axed in this plan, many people who attended the meeting were pleased with the increased public access that this plan will allow.

An unwelcome neighborhood dorm complex will be knocked down and replaced with residential buildings, which will do wonders for the real estate around Foster and Orrington Avenues (see a couple of the listings below). Looking at the long-term market in Evanston, aside from the current home value slide, this area is looking good if NU’s plans go though. Not only will there be one less dormitory, but the increased lake access for public residents will be a huge location perk.

Among other plans, there is talk of a “mixed-use gateway” to the campus and knocking down another ugly 1960′s-era administration building. This could make for a friendlier, less obtrusive transition between public and private space, and could definitely benefit the Clark and Chicago Avenue intersections and its surrounding area.

Let’s take a look at some nearby properties for sale, which happen to be a plethora of 1960′s and 70′s-era condo units (go figure):

2033 SHERMAN Ave #501
EVANSTON, IL 60201
Price: $299,900
BEDS: 3 ON REDFIN: 113 days
BATHS: 2 YEAR BUILT: 1965

2025 SHERMAN #408
EVANSTON, IL 60201
Price: $359,000
BEDS: 3 ON REDFIN: 32 days
BATHS: 2 YEAR BUILT: 1966

1738 CHICAGO Ave #802
EVANSTON, IL 60201
Price: $299,500
BEDS: 2 ON REDFIN: 49 days
BATHS: 2