Source: Evanston Round Table —
Author’s note: This article addresses one topic that has been raised about the new Ryan Field; it is not designed to address all of the open issues that need to be resolved between the city and Northwestern University. The author supports the work to negotiate a desirable outcome with NU that addresses parking, traffic, noise concerns, policing and other issues of concern to residents.
Like many others living and working in Evanston, I am excited about the new Ryan Field proposal and the musical offerings it will bring, enhancing Evanston’s growing art and entertainment scene.
A secondary consideration, being in the real estate business, is what impact it will have on property values. I’ve heard a lot of opinions on this topic, mostly from those who are opposed to the stadium and claim the new field will negatively impact property values.
I’d like to share what I know about property values in Evanston based on my experience selling real estate here for the past 12 years.
Basic economics comes into play regarding the price of housing, just like any asset. When there is increased demand with a stable supply, prices go up, which we have seen in the Evanston market over the past few years.
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