Chicago-based indie brokerage Sergio & Banks has found a new home at @properties, according to a joint statement released on Wednesday. The 25-year-old brokerage is now @properties’ fourth $100-million-producing team and will operate as The Sergio & Banks Group at their two existing locations on Belmont and Armitage Avenues before adding a third office in @properties new, upcoming flagship location.
“Grace [Sergio] and her team embody the local, independent, boutique approach that is so much a part of the @properties DNA,” @properties co-founder and CEO Thad Wong said in a prepared statement. “Beyond the significant relationships and production she brings to the table, it’s the way she has built and runs her business that will make @properties an even stronger brand through her team’s affiliation.”
Before merging with @properties, Sergio & Banks was one of Chicago’s top 30 real estate brokerages with more than $1.2 billion in closed sales volume since 2010. The 19-agent team specializes in selling new, luxury construction, single-family homes, condos and conversion developments throughout Chicago.
“Thad, Mike [Golden, co-founder and CEO of @properties] and I all started in the business around the same time. We were frequent competitors but also cooperated on dozens of transactions,” Sergio said in a written statement. “We’ve always had a great rapport and a mutual respect, and I’ve always admired the @properties brand, the creativity and innovation.”
“I want to provide an environment for my team where we can continue our professional development, challenge ourselves to reach new heights, and still maintain the personal touch that our clients value,” she added.
In a phone call with Inman, Sergio provided additional insight into the merger with @properties, saying the brokerage’s technology and marketing resources are what her team needed to remain successful in the future.
“We’re still plugging away,” she said of her team’s work ethic during the pandemic. “We’re still plugging away and really looking forward to this merger with @properties because they can provide resources that a boutique firm like mine cannot.”
“Their technology, marketing and the 3,000 agents that they have will bring a lot to the table,” she added. “I love their innovation and their creativity, and I always knew that if I were ever to actually merge with a larger company, it would be @properties.”
Despite COVID-19, Sergio said this was the best time to make a move and ensure her team will be around for another 25 years.
“This year, I did a little bit of thinking and I said to myself, ‘There are a lot of resources that I can tap into at @properties that I cannot as a boutique with a smaller office and smaller brand,'” she said. “It’s nice because although they are a very large company, I still feel that I can maintain my identity and maintain the boutique feeling that we have in our office.”
“It’s hard to believe it’s been 25 years, but here we are, and we’re excited for this new chapter.”