Woodlands will offer a better social life, since all of your friends will live there too. Off campus you may find nicer apartments (Northern Crossing, 10 min away), and you will have some separation between school and home life, which is good. Alternatively, you could live in Highland Park (much cooler area, 15 min away), Evanston (40 min), or even downtown Chicago (50 min-1hr) and drive or take the commuter train to school. There's a shuttle bus that will pick you up from the Lake Bluff train station. If I had it to do over again, I'd live downtown and take the train to school. The downtime on the train would be great for studying, and life downtown is freakin' amazing! Of course, that may not help you get the best board score... That is the main benefit of living like a monk for two years in North Chicago.