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

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Downtown High-Rise Almost Full, Students Weigh High Costs

By Diana XinThe Daily Northwestern

For most Northwestern students, a room with a view in downtown Evanston’s newest high-rise, Sherman Plaza, might have to wait.

The 25-story building, 807 Davis St., is filling up even before construction is complete.

Even with a price of more than $450,000 for a two-bedroom condominium, only two of the 253 units remained available Wednesday, said Kendall Anderson, a marketing assistant for the building.

Although these pricey pads are too expensive for most students, some have fled campus in exchange for fresh paint and classy neighbors.

Weinberg senior Ruth Kim considers herself lucky to live in the building.

Her roommate’s brother bought the condo, but she’s renting it while he’s abroad.

“I’m paying a lot less than I should be,” Kim said. “It’s definitely a nice place to live, but if you’re a college student, it’s really not worth it.”

Kim said most owners are renting out units for about $2,500 a month for a two-bedroom condo.

Before she moved into Sherman Plaza, Kim rented another two-bedroom elsewhere for less than half that price, around $1,000 a month.

Joan Glacy, 42, moved into the building at the end of December and said she hasn’t seen many students among her neighbors.

“It comes as a surprise” that students were interested in the place, she said.

The L-shaped complex looks over a glittering block of new stores, including a Cereality cereal bar, Barnes and Noble Booksellers, LA Fitness and Red Door Spa.

“That’s the biggest thing – it’s a great location,” said Lori Arias, a consultant for Focus Development.

Arias said residents include young professionals, students and people downsizing from a full-size house. Most people buy rather than rent.

“It’s a nice mix,” she said. “I like that.”

Arias showcased the “perfect college apartment.” The apartment, selling for $467,445, features two dorm-sized bedrooms, about 15 feet by 10 feet and 13 feet by 19 feet.The rooms are accompanied by walk-in closets big enough to fit a desk, providing plenty of storage space “for all your clothes, all your suitcases,” she said.

Storage rooms and bicycle space also stretch along each hallway. Arias said other attractions for college students include a 24-hour doorman, a community room with a flat-screen TV and a one-year membership to LA Fitness, Arias said.

The Park Evanston, another high-rise at 1630 Chicago Ave., rents two-bedroom apartments for $2,122 to $3,104 a month, depending on size, floor and view.

Two-bedroom apartments at Optima Views, 1720 Maple Ave., range from $1,900 to $2,750.

“The views are arguably better from Optima Views,” said Optima broker Michael Marin. “I’m on the 25th floor. I would know.”

Arias said rent at Sherman Plaza is likely to cost more than that of other places because of the amenities and security.

Sean Park, a McCormick junior, also has a condo in Sherman Plaza. His parents, who live in Korea, bought a unit on the 14th floor.

Park said he originally planned to rent out the building to his friends, but his sister, a Northwestern graduate student, moved in instead.

Even the garden terrace at Sherman Plaza wasn’t attractive enough to drag Park away from campus – as he chose a view of The Rock instead, staying close to friends on campus.

Reach Diana Xin at [email protected].

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Northwestern University and Evanston's Only Daily News Source Since 1881
Downtown High-Rise Almost Full, Students Weigh High Costs