There's a real concern that some of the new proposed developments (which are getting taller, and more massive), are going to kill the ambiance of the downtown: canonization could stymie the walk-able ambiance that exists today, becoming sort of like a LOOP or LaSalle Street. Basically, it runs the risk of becoming a victim of it's own success. I worry that Evanston will go the way of the West Loop: too much of a good thing, leading to developers ruining a good thing. The other concern I have is about the future of downtown, itself. I understand property taxes go largely to school funding, but I don't think district 65 and 202 are really up to par based the assessments. The city earns the dubious distinction of having Illinois' highest property taxes. On the other hand, Evanston's property taxes are horrendous: it's part of the reason why home prices are relatively "cheap." You can find a quality single-family home in Evanston for under $700k, and nice condos for less than $300k, but what you save in flat price, you'll lose in taxes.
Basically, it checks a lot of boxes for folks looking to have the best of both worlds: urban + suburban.
For me: it's just the right amount of density.
On the one hand, it's an ideal inner-ring suburb: close to Chicago, wonderfully-diverse housing stock, thriving downtown, and access to light-rail. It's an area I seriously considered moving to, before settling on Chicago itself. In my heart, I love it, but I have concerns.
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