Historic Live-Work
New
For Sale
$2,750,000
2733 N Pulaski Rd, Chicago, IL 60639
Historic bowtruss construction combines a dedicated work area with a residential interior and integrated amenities.
Property Size7,200 SF
Price / SF$381.94
Days on Market2
Property Features for 2733 N Pulaski Rd
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
4
Building Details
Year Built
1927
Buildings
1
Listing Agency:
Baird & Warner
Listed By:
Vincent Anzalone · License #475167321
(312) 265-8000
Source:
Liveliferealty
Added: Sep 13
Last Checked: Sep 13 at 2:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Baird & Warner
Investment Insights
Based on property information with market context.
Built in 1927, this 7,200-square-foot live-work property occupies a historic bowtruss building and combines dedicated business space with an extensively appointed residence. The work area includes a bedroom, separate office, and full bathroom, while the residential portion features an open dining area with ceilings exceeding 20 feet, a custom kitchen with designer appliances, theater room, bar, living area, primary suite, and two additional bedrooms. Interior finishes include marble surfaces, heated floors, stained glass, custom cabinetry, and an infrared sauna.
A central courtyard atrium anchors the interior, with heated marble flooring, an 80-foot skylight, additional pyramid skylights, a combined spa and pool, and a gas fireplace. The property also includes a workout room, two separate heated two-car garages, and an Energy Recovery Ventilation system. Live-work zoning and the address on N Pulaski Road in Chicago support the property’s combined commercial and residential format.
A central courtyard atrium anchors the interior, with heated marble flooring, an 80-foot skylight, additional pyramid skylights, a combined spa and pool, and a gas fireplace. The property also includes a workout room, two separate heated two-car garages, and an Energy Recovery Ventilation system. Live-work zoning and the address on N Pulaski Road in Chicago support the property’s combined commercial and residential format.
Key Highlights
- 7,200‑square‑foot live‑work property in a 1927 historic bowtruss building
- Dedicated work area with bedroom, separate office, and full bathroom
- Courtyard atrium includes heated marble floors, an 80‑foot skylight, pyramid skylights, and a combined spa and pool
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
$169,325
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
6.16%
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%
$3,386,500
$3.4M
Cap Rate 7%
$2,418,929
$2.4M
Cap Rate 9%
$1,881,389
$1.9M
Market Conditions
NOI Build-Up for 7,200 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
$307.6K $42.72/SF
− Vacancy
−$81.8K −$11.36/SF
EGI
$225.8K $31.36/SF
− OpEx
−$56.4K −$7.84/SF
NOI
$169.3K $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%
$3,386,500
Cap Rate 7%
$2,418,929
Cap Rate 9%
$1,881,389
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,325 @ 7.0% cap · market cap 6.16%
Second Best
Mixed Use
$1.60M
$1.40M – $1.86M
NOI $111,780 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$3.18M
$2.79M – $3.71M
NOI $222,843 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Historic bowtruss construction combines a dedicated work area with a residential interior and integrated amenities.
Where is this live-work space located?
The property is located at 2733 N Pulaski Rd 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: 7,200‑square‑foot live‑work property in a 1927 historic bowtruss building; Dedicated work area with bedroom, separate office, and full bathroom; Courtyard atrium includes heated marble floors, an 80‑foot skylight, pyramid skylights, and a combined spa and pool
