Will a new 5th Ward school raise Evanston property values?

We've written previously about the LiveEvanston program, which is rehabbing and selling attractively priced homes in several Evanston neighborhoods, including the 5th Ward, an area that borders parkland and is generally physically attractive and well-located.

One of the factors that has depressed property values in Evanston's 5th Ward over time has been the lack of a neighborhood school. It's the only Evanston Ward that doesn't have a neighborhood school, as we've noted elsewhere.

TribLocal Evanston is reporting that Evanston / Skokie School District 65 is requesting voter approval for a $48 million bond offering, part of the proceeds of which would be used to build a new K-5 elementary school in the 5th Ward. District 65 has an FAQ page about the bond proposal.

I'd give better than even odds that the school, if built, will have a very positive effect on an area that has some of Evanston's most affordable housing.

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