Breaking: Related Realty acquires Streeterville-based brokerage

by James F. McClister

Gail Spreen

As of today, Streeterville Properties Group (SPG), a 23-year-old staple of Chicago’s Streeterville real estate market led by veteran broker Gail Spreen, is a part of Related Realty.

The acquisition comes as an effort from Related to strengthen its presence in the Streeterville market.

“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. “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.”

Leading the SPG team is Gail Spreen, who’s been a known name in Chicago real estate circles for two decades. She holds an MBA from Northwestern University’s Kellogg School of Management; is a perennial top producer with the Chicago Association of Realtors; was the five-time president of the Streeterville Organization of Active Residents – through which she advocated for walkability enhancements, more green space and the preservation of historic buildings, among other things; and she’s actively involved with the Magnificent Mile Association and the Streeterville Chamber of Commerce.

Spreen explained her decision to join Related Realty as an intuitive step, considering “all the positive changes underway in Streeterville.” But as far as scaling goes, Related Senior Vice President and Managing Broker Patrick Ryan says SPG could have gone with any brokerage they wanted to. He’s just happy they chose Related.

“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,” Ryan said. “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.”

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