Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern

Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern

Northwestern University and Evanston's Only Daily News Source Since 1881

The Daily Northwestern


Advertisement
Email Newsletter

Sign up to receive our email newsletter in your inbox.



Advertisement

Advertisement

Evanston still attracts house buyers after condo boom

There are no downtown skylines visible on the corner of Lincoln Street and Ashland Avenue, only towering oaks and maples leaning over parked cars and an American flag flying outside a church.

That area of Evanston drew plenty of potential home buyers to open houses Sunday, despite recent concerns from residents that the city’s vertical growth downtown would damage property sales.

As the first suburb north of Chicago, Evanston is a popular place for home buyers, said Mike Albano, a realtor and Evanston resident. At least four open houses were held in the area on Sunday, with at least two in North Evanston.

The growth in Evanston has its advantages, and homes have continued to appreciate, Albano said.

“There’s a lot more activity now. A lot more night life,” he said. He said that fact draws both repeat and first-time buyers.

Some browsers said they were looking at buying in Evanston because it is the right blend of suburban and city living.

Catherine Leonard, another realtor and an owner of an Evanston home, said a home’s location within the city is important. The area on Lincoln Street is desirable because it is close to excellent schools, as well as to Lake Michigan, she said.

“The turnover (in this area) is relatively low,” she said. “People tend to stay here because the value goes up.”

Sarah Anderson, a resident of South Evanston, said at one open house that she might be willing to downsize to move into the area.

Anderson said her current master bedroom was much larger than the one in the house she was considering. But the North Evanston home, she said, would allow her children to be closer to school.

“I want to stay in Evanston, despite my taxes,” she said, laughing. “It’s very down-to-earth here.”

Many home buyers said taxes were the one burdens of living in Evanston. Property taxes are higher than in other suburbs such as Skokie in part because there are fewer commercial properties, such as Westfield Old Orchard mall, to generate tax revenue.

“The desirability of the properties offsets higher taxes to a degree,” Albano said.

Albano said people continue to buy homes in Evanston because they understand that the properties values will continue to appreciate. They see buying a home as an investment.

“I’ve seen as much as 15 to 20 percent appreciation in a year,” he said.

He said the cost of renting in the Chicago area also triggers interest in buying real estate in the area.

“With rents being up there, you’re realizing that it’s close to mortgage payments,” he said. “The rental market is getting soft. When you’re getting at $1,100 or $1,200 per month, you could easily be putting that into payments for a house.”

Reach Jenny Song at [email protected].

More to Discover
Activate Search
Northwestern University and Evanston's Only Daily News Source Since 1881
Evanston still attracts house buyers after condo boom