Plan is to wall it off and convert to a 4br/2ba,  update existing bath and kitchen, new floors,  interior and exterior  paint.

You can have your own separate space with a side by side or up/down duplex. 

Not only does this pertain to structural wood but also to wood flooring.

Being that you're an agent, you have an advantage in the real estate space. 

I mentioned this to 2 agents and they looked at me like I was a space alien. 

Put locks on each bedroom door so individual tenants have security of their personal belongings.You need a really good set of rules regarding shared common space, cleaning, kitchen use, bathroom use, etc.Be very clear about the rules up front, and selective about who you put in there.

When the 5 year treasury fell too far, the bank doing this told me they were at the floor.

It is very common in the investment advisor space. for example, if I find an investment advisor and want to know how his client's portfolio has performed last 3 years they do not make that  information up, its verified. 

Are buyers looking for more urban spaces, or is suburban living still on the rise?

With 5 stories it's usually most economical to build the first floor out of steel and then stick frame the upper 4.