I did my undergrad at NU and, on the whole, really loved it. There are definitely some downsides, like the fact that a number of the wealthier residents seem to hate the fact that they live in a college town (This is my favorite recent development. Beware the transient academics! http://evanstonnow.com/story/business/bill-smith/2014-01-30/61300/neighbors-said-to-fear-transient-academics) and the winters can be almost intolerable, but all the other wonderful things about being so close to Chicago more than made up for it.