Evanston To Face Condo Tower Showdown

by Deidre Woollard (RSS feed)
May 31st 2007 at 6:38PM

The Chicago suburb of Evanston may be facing a battle of the condominiums. Chicago Real Estate Daily reports that there are two large condo projects planned and there just might not be room for the both of them. James Klutznick and Tim Anderson have proposed a 49-story condo tower and right next door Robert Horner and HSA Commercial Real Estate are looking to build a 37-story condo tower. It is seen as unlikely that city officials would give the nod to both projects. Klutznick and Anderson say that their plan is better because their tower would be on the north end of the block away from two neighboring high-rises, and it doesn't involve the existing Hahn Building like the other project but their plan is under scrutiny for its expected 523 foot height. The Horner/HAS structure (shown on the left) is a bit more interesting to my eyes and also has the bonus of a two-story restaurant shaped like a flying saucer that would overlook Fountain Square and would feature a rooftop plaza connected to the square by a grand staircase.

Tags: chicago, condominium, development, evanston, tower

Filed under: Estates

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Tim Spangler Jun 1st 2007 1:41AM

Imagine my surprise when I saw my town on Luxist!

As you can see from the mockups, there are quite a few tall buildings in this area - after all, it's dead-smack in the middle of downtown Evanston. While I think the design on the right looks sleeker, the one on the left would significantly change Fountain Square around and make it much more visually interesting. The units near the top facing south should also have fantastic views of the Chicago skyline just a few miles away.

It should be interesting to see how this plays out. Given that Northwestern University, as part of its charter, doesn't pay any Evanston property taxes, the town could use a big development like this to improve the more neglected areas of town.

-Tim

David Tung Jun 1st 2007 3:01PM

I'm new to this real estate game, so someone tell me if this makes sense. I'm a college student so feel free to tell me what the real deal is if I'm totally off on this. My girlfriend goes to Northwestern, which seems to occupy the most prime real estate in Evanston. I've seen the waters of Lake Michigan, and it is an excellent view during the summer. In fact, just yesterday in May my girlfriend told me the weather was near high 70s on a warm summer night. This kind of dynamic seems like an unexpectedly prime location for new business in the Chicago metro area. Let's face it, downtown Chicago is getting a little "stuffy", and Evanston could really let businesses and banks - more or less any type of industry - spread its wings. Evanston's close-enough-to-the-action but charming-enough-to-raise-a-family feel could send prices soaring in the short-term if a big player bites soon enough.

I would say that Northwestern University itself can play a pivotal role in the charm factor of Evanston, as it brings a somewhat naturally more "discerning" demand of neighborhood vendors, who include a much more authentic, international flavor to this highly ordered and well-planned district. Northwestern would disagree with all the upwards growth, as this beautiful, sprawling campus houses the 2nd-largest 4-story building in America (only to The Pentagon). Big business could utilize this large pool of "cheap labor", Northwestern being one of the larger private universities of the US's top 10 academic institutions (known for its Kellogg School of Business no less). NYU's prime, South Manhattan location helped bolster its business school; Kellogg and undergraduate wannabes could turn around and help relatively young corporations recruit some eager talent. Atypical of other Ivy-league caliber universities, many Northwestern alums choose to stick close to home because of the plentiful opportunities. Some industries could value this added intangible.

Directly west of Chicago-proper, we see a true, suburban success story that deserves some investigation: Naperville. Taking home CNN/Money Magazine's "Second Best Place to Live" award as of July 2006, we see that well-planned residential communities can be functional with the right big-picture suburban commuter pipelines laid down by the city and region (The 2 Naperville Metra train stations serving downtown Chicago are the most-frequented suburban stations in all of Chicagoland). Check the location of the area directly west of Evanston and North of Naperville; there is ample room for suburban development able to sustain growth for Evanston industry in the long term.

I live in Sugar Land, TX, which is home to #3 on Money Magazine's 100 best places to live. I have my own theories about this real estate, but I would appreciate it if someone with experience or just definitive opinions responded to my thoughts on Evanston's recent growth. Feel free to "educate" if you think this is not a smart move; I'm an amateur that just wants to learn.

hdtex Jun 2nd 2007 2:09PM

Honey...you must be young....Chicago is in no way "scruffy"....and Sugarland in one big strip mall.
Naperville is a disaster....suburban sprawl delux.
Niether of these 2 proposed developments are in any way appropriate for Evanston.
The Chicagoland area is in no way similar to Houston's vast wasteland.