Historic Live-Work
For Sale
$2,750,000
2733 N Pulaski Road, Chicago, IL 60639
Commercial Sale, Chicago, IL
Property Size7,000 SF
Lot Size0.14 Acres
Price / SF$392.86
Days on Market141
Property Features for 2733 N Pulaski Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
JUST SOUTH OF DIVERSEY ON PULASKI ON THE EAST SIDE OF THE STREET
Subdivision
CHI - Logan Square
Standard status
Active
APN
13263000080000
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
19655
Utilities
Cooling system
Central Air
Amenities
theater room
custom-crafted bar
courtyard atrium
spool
workout room
infrared sauna
mud room
Energy Recovery Ventilation system
Building Details
Year built
1927
Floors in Building
1
Number of units
1
Listing Agency:
Baird & Warner
(312) 242-1000
Listed By:
Vincent Anzalone
(312) 265-8000
Added: May 10
Changed: Aug 19
Last Checked: Sep 27 at 4:06PM
MLS# 12639508
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1927, this bowtruss building offers more than 7,000 square feet of living space with a dedicated work area, separate office, bedroom, and full bathroom near the entry. The residential portion includes an open dining area with ceilings exceeding 20 feet, a custom kitchen with marble finishes and designer appliances, a theater room, bar, living area, workout room, sauna, and primary suite. Two additional bedrooms share a finished bathroom on the second level.
A central courtyard atrium forms the interior focal point, with heated marble flooring, an 80-foot skylight, supplemental pyramid skylights, a combined spa and pool, and a gas fireplace. Additional features include two separate heated 2-car garages, stained glass doors, an Energy Recovery Ventilation system, and central air conditioning. The property is located at 2733 N Pulaski Road in Chicago and carries live-work zoning.
A central courtyard atrium forms the interior focal point, with heated marble flooring, an 80-foot skylight, supplemental pyramid skylights, a combined spa and pool, and a gas fireplace. Additional features include two separate heated 2-car garages, stained glass doors, an Energy Recovery Ventilation system, and central air conditioning. The property is located at 2733 N Pulaski Road in Chicago and carries live-work zoning.
Key Highlights
- 7,000+ square feet of living space in a 1927 bowtruss building
- Live‑work zoning with a dedicated work area, bedroom, office, and full bathroom
- Central courtyard atrium with heated marble floors and an 80‑foot skylight
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$164,622
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,292,440
$3.3M
Cap Rate 7%
$2,351,743
$2.4M
Cap Rate 9%
$1,829,133
$1.8M
Market Conditions
NOI Build-Up for 7,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$299.0K $42.72/SF
− Vacancy
−$79.5K −$11.36/SF
EGI
$219.5K $31.36/SF
− OpEx
−$54.9K −$7.84/SF
NOI
$164.6K $23.52/SF
Area
ZIP 60639
Vacancy
26.60%
Lease Rate
$42.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,292,440
Cap Rate 7%
$2,351,743
Cap Rate 9%
$1,829,133
Alternative Uses
Best Use
Office B
$2.35M
$2.06M – $2.74M
NOI $164,622 @ 7.0% cap · market cap 5.99%
Second Best
Mixed Use
$1.55M
$1.36M – $1.81M
NOI $108,675 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$3.10M
$2.71M – $3.61M
NOI $216,653 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,899
Businesses Nearby
Explore this area
Business Placement
Demographics for 60639, IL
89,543
Population
28,656
Households
3.1
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
5.0 sq mi
ZIP Area
17,909
Density / Sq Mi
$59,710
Median Household Income
$34,846
Median Earnings
$1,212
Median Rent
$289,000
Median Home Value
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Market
Vacancy Rate% for Office in Chicago, IL
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Frequently Asked Questions
What type of property is this?
Live-work space - The property combines dedicated work areas with residential rooms, an atrium, custom kitchen, and heated garages.
Where is this live-work space located?
The property is located at 2733 N Pulaski Road Chicago, IL.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 7,000+ square feet of living space in a 1927 bowtruss building; Live‑work zoning with a dedicated work area, bedroom, office, and full bathroom; Central courtyard atrium with heated marble floors and an 80‑foot skylight
