Pereira was born in Chicago, Illinois, the son of Sarah (Friedberg) and Saul Pereira. His paternal grandfather was of Portuguese Sephardi Jewish ancestry, and his other grandparents were Ashkenazi Jews. Pereira graduated from the School of Architecture, University of Illinois and began his career in his home city. He had some of his earliest architectural experience helping to draft the master plan for the 1933 "A Century of Progress" Chicago World's Fair. With his brother, Hal Pereira, he designed the Esquire Theater at 58 East Oak Street, considered one of Chicago's best examples of Art Deco style.