Parisian-Inspired Live-Work
For Sale
$2,750,000
2733 N Pulaski Road, Chicago, IL 60639
Historic bowtruss building transformed into a luxurious live-work space.
Property Size7,200 SF
Price / SF$381.94
Days on Market109
Property Features for 2733 N Pulaski Road
General Information
Standard status
Active
Size
7,200 SF
Taxes and HOA fees
Annual Taxes
$19,654
Amenities
Central Air
Building Details
Building Size
7,200 SF
Year Built
1927
Stories
1
Listing Agency:
Dream Town Realty
(312) 933-9447
Listed By:
Vincent Anzalone
(312) 933-9447
Source:
Evrealestate
Added: May 10
Changed: Aug 23
Last Checked: Aug 26 at 7:20AM
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 Dream Town Realty
Investment Insights
Based on property information with market context.
Located in West Logan Square, 2733 N Pulaski Road is a historic bowtruss building transformed into a Parisian-inspired live-work sanctuary. The property offers over 7,000 square feet of living space. The building features a dedicated work area with a bedroom/separate office and a full bathroom. The residential area includes an open-layout dining area with ceilings soaring over 20 feet high and floor-to-ceiling onyx cabinetry, a kitchen with Calcutta turquoise marble waterfall island and top-quality designer appliances, a cozy theater room, a stylish powder room, and a custom-crafted bar connected to the living area. The property also features a courtyard atrium with heated marble floors, an 80-foot skylight, a combined spa and pool, faux olive trees, Parisian antique furnishings, and a gas fireplace. There is a workout room with rubber flooring and mirrored walls, a mud room with an infrared sauna, and two separate heated 2-car garages. The primary suite includes a stone fireplace, stained glass doors opening into the atrium, and an en-suite bathroom with a wet room, natural stone accent wall, waterproof plaster, and herringbone tile heated floors. The second level includes two additional bedrooms that share a bathroom with floor-to-ceiling tiling and a marble vanity, a linen closet, and a storage closet set up for a secondary washer and dryer. The home's design includes an Energy Recovery Ventilation system. The property's live-work zoning, proximity to amenities, and integration into a community make it suitable for those seeking a functional urban living experience.
Key Highlights
- Unique courtyard atrium featuring heated marble floors, 80‑foot skylight, 'spool', gas fireplace, and Parisian antique furnishings.
- Professionally designed by Alison Victoria (HGTV) offering a Parisian‑inspired live‑work space.
- Dedicated work space with separate office/bedroom and full bathroom, plus live‑work zoning.
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
Property Profile
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
Market
Vacancy Rate% for Office in Chicago, IL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Historic bowtruss building transformed into a luxurious live-work space.
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: Unique courtyard atrium featuring heated marble floors, 80‑foot skylight, 'spool', gas fireplace, and Parisian antique furnishings.; Professionally designed by Alison Victoria (HGTV) offering a Parisian‑inspired live‑work space.; Dedicated work space with separate office/bedroom and full bathroom, plus live‑work zoning.
