Pros
Northwestern is centrally located two blocks east of Michigan Avenue on Chicago. Students that live more than two miles from school are given the opportunity to park on campus for the extremely affordable rate of $400/year. Students are also given the UPass for free public transportation on the CTA. Northwestern supplements the cost of a yearly membership at Holmes Place gym so that students only pay $130/year. Aside from those non-academic reasons to enjoy being a graduate student at Northwestern, I have found that the NU community to be incredibly supportive. Students and faculty are always more than eager to help eachother out, whether it be with sharing equipment, reagents or constructive criticism.
Cons
I listed the location of Northwestern as being a great reason to work at Northwestern. However, if you wish to live close to work, it will be very expensive. Unfortunately, this means that you will either end up with a very small apartment, or you will be living a few miles away from the school. Medical insurance does exist, but doesn't cover everything you would think it should cover. Dental insurance is not provided, but is available if you choose to pay for it. As for the academic community, most of the facilities are top notch, but beware, some buildings are in serious need to being updated.