I am a recent UW Madison parent. Are you an incoming freshman? If so, you should absolutely try and live in one of the traditional on campus dorms if at all possible.
Lucky is not worth that price and often attracts students who decide very late and can’t get a traditional dorm. I just think you will be tied into the campus community better at the outset if you are in a dorm, using your meal plan, have all those social activities at your fingertips.
I also wouldn’t use the word “prestigious” to describe a living situation on/near campus. The housing market is a little crazy in Madison but not as crazy as the marketing material will advertise. I would call it “high end” and another thing I’d personally call it is overpriced for what it is.