Related Realty today announced its acquisition of Streeterville Properties Group, a 23-year-old residential real estate brokerage based in Chicago’s Streeterville neighborhood. Led by veteran residential broker Gail Spreen, the team will continue to operate under the Streeterville Properties Group name, benefitting from Related’s global, multibillion-dollar real estate platform while maintaining its niche as Streeterville’s premier residential brokerage.
“For more than two decades, Streeterville Properties Group has enjoyed a stellar reputation throughout Streeterville and downtown Chicago, establishing itself as a sales leader in its namesake neighborhood,” said Curt Bailey, president of Related Midwest and founder of Related Realty. “Like Gail and her team, Related is deeply rooted in Streeterville; home to luxury rental property 500 Lake Shore Drive, ongoing developments like One Bennett Park, and next-generation sites like 400 N. Lake Shore Drive that will reshape the downtown skyline. When we decided it was time to further expand our presence in the neighborhood, we looked no further than Streeterville Properties Group, which shares our commitment to highly personalized service that only a boutique brokerage can provide.”
Spreen, who holds an MBA from Northwestern University’s Kellogg School of Management is a longtime resident of Streeterville. She founded Streeterville Properties Group in 1994 and in recent years, she has ranked in the top 1 percent of the Chicago Association of REALTORS. In addition, Spreen was the five-time president of the Streeterville Organization of Active Residents (SOAR), a role through which she, on behalf of residents, has advocated for the creation of pedestrian- and bike-friendly paths, expanded green space, preservation of historic buildings, and development of new buildings that match the character of the Streeterville neighborhood. She is also actively involved with the Magnificent Mile Association and the Streeterville Chamber of Commerce, routinely speaking at public forums and community meetings all in support of Spreen’s greater mission to make Streeterville the ideal neighborhood to call home.
“I’m excited to be at the forefront of Streeterville’s residential renaissance, both as a resident and now a broker at Related Realty,” said Spreen. “With all of the positive changes underway in the Streeterville neighborhood, it seemed like a natural time to begin this next chapter of Streeterville Properties Group, sharing our hyperlocal expertise while collaborating with fellow Related Realty brokers to deliver exceptional service throughout downtown Chicago.”
“Gail and her team could have easily joined any firm in the city, so we’re honored that they selected Related Realty to help scale their business,” said Patrick Ryan, senior vice president and managing broker of Related Realty. “Together, we’ll be able to leverage our skills to further elevate the level of service provided to new and existing clients, using our deep familiarity with Streeterville and other sought-after neighborhoods to maximize value on each client’s behalf.”
About Related Realty
Related Realty, the residential brokerage division of Related Midwest, is an affiliate of The Related Companies, the most prominent privately owned real estate firm in the United States. A full-service brokerage that is home to Chicago’s top-producing agents, Related Realty strives to uphold Related’s reputation for excellence, building on the company’s 40-year history as a global lifestyle firm defined by innovation in all aspects of design, development, service and wellness. The expertise of Related Realty’s agents, along with the firm’s industry-leading standards and deep knowledge of the Chicago market, allow Related Realty to deliver unparalleled service throughout all stages of the transaction, ensuring the highest level of client satisfaction.