Episode 17 - Melinda Jakovich LaGrange: The Ultimate Chicago Insider — Real Estate, Relationships & Giving Back

Transcript

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hello powerhouse smart friends and colleagues I am so excited for another episode of the powerhouse cool collabs podcast We created this podcast because I feel so fortunate in my life to have this incredible deep network of amazing leaders in luxury design build and real

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estate especially our guest here today where I feel like I can share their unique stories with all of you our audience um where we talk about their um story and then we also get to share what's so important to all of us having an attitude of gratitude and how each

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one of these guests give back to help humanity And so today as in all of our episodes this is commutable so it's only 20 minutes but I always like to give my guests as much time um for them to share with us So Melinda Jackovich Larrage my very dear friend I'm so honored to have

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you here I'm gonna ask you to please share the microphone and tell us your story Melinda welcome Well thank you Wendy I've known Wendy 25 years and adore adore her energy Thank you I mean that from my heart My name is Melinda Lrangee Melinda Jackovich Lrange I've been selling real estate for

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31 years now Hard to believe Where did that go Wendy i know I know We've known each other for so long And then as we jumped on this call I saw all the building behind you which I want you to chat about and all the books and everything And I know we were catching about up about travel and

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France and all of that but share with our audience just a little snippet of where you came from And you have been an iconic broker in Chicago That's how I met you actually so long ago and then a speaker at our luxury conferences You flew to Naples We're an expert moderator

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So we have deep roots together but I want our audience to hear a little bit about where you came from and this trajectory of where you are today Well I was born on the south side um of Chicago near the Beverly neighborhood I went um and I still go back I mean I'm a

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very very loyal person and I tell my Northshore cousins be proud of your Southside roots because we make presidents and now we make popes So I I kind of get a kick out of that Um I initially started out working um I went to Northwestern which was kind of unusual for a southsider If if people

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did go to college they either went to St Mary's Notre Dame or U of I But I headed north but I worked in the securities business um worked on Lel Street um at Chicago Corporation and then I moved to Morgan Stanley I always wanted to be a broker and I did that for 12 years and I

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loved it and I loved all the energy and I loved the board of trade and I loved all the badges of the day and the energy and but I always loved real estate also But a lot of my friends were like "You're at Morgan Stanley Why why would you leave well I ended up uh falling and

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needing back surgery So I couldn't sit and watch the the desks or the charts all day long And that kind of motivated me to get in the business It turned out to be the best move for me It's my passion And I'm a true believer that if you love what you do it's never work That's so

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true And I ne I um didn't get married till later in life And my families are like my you know it they mean so much to me Actually Wendy and I have a mutual friend who I still keep in contact with Maybe not as much as I would like but that I mean they are so dear to me and I

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probably helped them move four or five times And that is I think the secret of real estate is really caring and and being sincere because people can see through all the phony baloney as my father used to say And uh it's been really very rewarding to me um in my life and I ended up uh my friends are a

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lot of my friends are in real estate uh my husband I ended up meeting Lucia Lraj in 2000 And I was hired by Bob Mariano before anybody knew Bob who he was to sell a building for him and he was going to had the idea was to put Herods like on State and Randolph it was and then to

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add 17 floors of a condominium building and he hired me to do that and that's where I met Lucy in the garage and we stayed friends and then friends first and then it kind of 15 years later we ended up being together and I've been married to Lucen and we've been together

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for 15 years now My husband uh is an architect He's designed 33 buildings in Chicago And that's kind of our mutual It's kind of funny that when I first went to He's from the south of France or Paris but moved to the south His values are very much like mine and his love for

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Chicago is very similar He can't leave and I can't leave It's where um my heart is in Chicago I I think it's the greatest city and I think uh you know it gets a bad rap Actually someone had just asked me last night if I would ever consider being a PR person for the city

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of Chicago because we need that right now I mean the people talk about the negative but there's so more positive things about Chicago And um I speak at conferences and one of at Compass we I get invited to the luxury conference in Aspen and I used to talk about the

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drinking water situation and a lot of the brokers have you know we had a hard time after the COVID with the sales and a lot of the brokers in Aspen California Arizona were talking about their you know 50 million $60 million transaction and I said to them well one day you're

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going to look at Chicago because we have drinking water and that's going to be a big thing And they looked at me like I had altitude sickness Well guess what they're calling me up That's That's so true So true Melinda what makes you so iconic is that you you started your real estate career Of

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course you understand how that all ties into investments and and people's you know nestags of course but you really weren't just you know a real estate broker you were like a on the developer side So all these developers for all these years now have come to you for the

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very important guidance on what's going to sell and and and you know what should we be doing here what's the best fit so talk a little bit about that Well actually when I worked on Lel Street I um I left Chicago Corporation for a brief amount of time and I worked with

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the real estate syndicator called Winthre and Winthre raised $300 million which was a lot of money in those days in two days for which is now a presidential towers and I was 21 and I was talking to Dan Razenowski who that's a name from the past right yes And I was

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talking to Mayor Burn and I was on the phone with all these executives and now that's in the West Loop There was absolutely nothing in that area It was Skid Road But I learned a lot about real estate real estate syndication And I was 21 Um and I always liked real estate for

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that reason Uh so that's kind of how my passion started in real estate was working and seeing how deals start from raising money to doing the deal to the hiring the architect to meeting your alderman and getting it approved Um a lot of times on new projects the uh developer will aim really high and

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negotiate a building smaller and it's all all kind of the plan and what you know how much things cost to build Um a project could take forever to you know a decade by the time you see it from the architectural plans to the final result And prices could have gone up prices

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could have gone down you know it's it's really I find uh development so exciting It's like my passion romance but sometimes you get your heart broken Oh yeah Because the the length of time and all the moving parts but it's like a three-dimensional puzzle and you're so

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good at it And what's not not only do you understand the aspects of it but you also have all the relationships which is a part of what this cool collapse podcast is all about because not only do you really um understand the value of your relationships but you're such a

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connector and and then you know I just sit and talk to you for 15 minutes and I'm writing down all the oh yeah I got to reach out to that one and this one you're just such a you know an tremendous um influencer in that in this world in real estate development in Chicago especially and now outside of

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Chicago Right Right No I I but I I have to say Chicago has my heart A lot of people say we did try we rented a place in Naples for two years and Lucy and um just couldn't relate He he loves the city Last night I co-chared an event for the Joffrey guy you know Joffrey Ballet

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I've been on the board for 22 years Wow So that's um Mr I used to have a nice relationship with Mr Arpino I even have a nicer one with Ashley And we um started women's night right after COVID and we went from 20 people and last night I had over 200 Wow And that was

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really very successful And I did that through there's three ballets and the ballet currently at Chicago is Alice and Wonderland which if anybody I mean it's amazing But even to see how the Joffrey has progressed and we're so lucky because that ballet company we have

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actually live music with it and that's an additional million dollars to have that Wow And uh it's just amazing Our symphony is top class Our L our opera house is you know we have so much culture The Art Institute of Chicago the MCA there's so much and I do know the

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history Actually one of the my favorite things about real estate is when a developer like a thousandm was actually Lucy and I idea Lucien said to the developer in 2012 you should buy this real estate and Lucien competed but the one um developer had already an existing

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relationship with Helmet Yan but I am aware of the history of this building It was supposed to be an Azie Hadid building Wow Um and she had spent a lot of money making plans but that would have been kind of interesting to have a futuristic building on Michigan Avenue

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And I helped name that area the cultural mile because they that little area did not have a name Wow Go from the river to Roosevelt That's you know you have a lot of museums and schools And so I said why don't we call it the cultural mile and that someone actually I don't think I'll

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ever get credit for that but I know that And now everybody in our audience knows that And but I get asked to introduce people give them tours of Chicago to invest even the French consulate or Lucen just designed a building for RIU and I have a really nice relationship

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with their Spanish company They paid cash for their hotel I mean people in the hotel from New York I have such a love of Chicago and it really kind of comes through Yeah And I'm really honored and I I I do that That's kind of part of my volunteer work too is to educate people on Chicago and tell them

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the positive things You know we have such great neighborhoods We have what 76 neighborhoods in Chicago Wow And from the north side to the south side they vary so much but you know you have your different communities your your churches your synagogues schools We have great

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schools I mean one of the best schools in Chicago for undergrad is Walter Payeyton It's a public Yes My daughter was down the street and I I see that every day The kids get in Yeah What a great school No it is a great school So you know and even Ogden my girlfriend um

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lived on Delaware and her two children went to Ogden and they ended up going to Harvard and one went to Northwestern So don't ever underestimate the value of a Chicago public school education There's great great opportunities and I think that's the people and everyone always

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says the people are so nice in Chicago They're so surprised We are we're good people We're grounded Midwesterners Yeah So one of the other things I always like to you know um tap into especially someone uh like you who's got this wealth of knowledge is how you how you tie in or weave in um

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you know giving back and helping humanity I mean you've got you know you're you're involved with the Joffrey which I love what you've done for the 22 years but tell us about some other um I know you've done so many so you're probably going to have to pick just your

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favorites Well I helped start a inner stance camp um Ford Momentum and they just celebrated their 10th uh anniversary and they've done incredibly well I mean the afterchool matters is involved with them now And what what not only people would say dance like in Englewood children don't dance but

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people forget in some of these neighborhoods after the school year is over these children get lunch provided at the school So this dance camp actually um other than teaching them confidence for through dancing it also feeds them and then takes them on field trips and introduces them to things that

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they might not have had the opportunity to So that's one of my dear passions I'm on the service club The service club is one of the largest oldest organizations and you know there it's with sort of the high society women but what we do is we raise all these lunches and events we

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have and at the end of the year we spend all our money and like to 20 or 30 charities and underwrite what they might need a bus they might need a computer they might need food I mean it's just they have to write us story and we underwrite their dreams So I think

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that's a wonderful Yeah I mean you could go on with Ronald McDonald and all these things So the the group that's watching this the viewers that are watching this are probably thinking how if Melinda's open to us contacting her what can we do to you know reciprocate and help Melinda

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but is she interested in mentoring or how can I tap into you know her wisdom so any any guidance you want to give our viewers as far as because what's going to happen here Melinda when we're done is I'm going to do um the title and the description of our short call today to

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share what everyone can learn about you but I'm going to have all your contact information and I want to make sure you tell us what would be the best way and the purpose for people to reach out Well I'm still old school Actually I was just complimented The Rottenberg family had

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asked me their daughter granddaughter would like to get in real estate She's currently lives in LA So I met her for coffee and I was really I mean the Rut family has been in the business for over a hundred years I used to represent Jeff and I did the uh sold the first development in the West Loop CA

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development Um they ended up they owned Belgravia but I was so so touched that I could you know I spent I met her for coffee and I I like to meet people one on- one a lot of times if I you know Zoom's a great great I don't know how we would have gotten through COVID without

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Zoom I mean the reach that you could have but I think looking at someone's eyes even if it's a Zoom is so important And I do um I do still believe in the phone because I think a lot of times people negotiate and they're texting each other and you don't feel the heart

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and soul of the deal Yeah You say "Oh my client is 500,000 and maybe you're you know you just kind of share things." And I can't believe that people I never wanted a big team because I think my value people hire me but I can like share a story that really can make

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someone feel the passion of that piece of property I never I remember selling Liz Farah house and I it was a house in Lincoln Park here It didn't even have parking But her my story she said "I bought this house because there was a little nook reading nook And I said "My

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client loved to read books in this nook and it was just always with a glass of wine." And she thought to herself "This is where I'm going to write my music." and she realized it didn't have parking and she had to carry her drums and things across the street But she was

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like I never regretted buying that house because that nook I don't know what song she ended up um writing from that nook but that's why and I don't think a realer opening up the door or especially a lock box would have ever relayed like the some of the beauties of a house

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Every house has an energy and I think that's why we'll never be replaced by AI Um it's or video only I think you have to see the house feel the energy the light and the location is always important Of course Of course So you the viewers that you're watching this you've

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heard it here that you can reach out to Melinda and she loves mentoring She loves sharing I I I wanted to make a suggestion that we could schedule a podcast with my audience that want to meet you and get to know you and then this way you can be sitting in your beautiful um Chicago condo and sharing

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without um we could do it often without tapping too much on your time and energy But um so that would be great Um and there's so much you and of course we're going to have you continue as speakers as speaker for all conferences I love I absolutely love your organization I love

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speaking at powerhouse the energy Actually I had a girlfriend who lived in Naples and she joined and she has been bragging about it She herself started a foundation She lost her son to cancer and she's been uh bare necessities but she was like this this woman's dynamite

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and everyone is so nice here and they share You know real estate can be a tough business Lucien says "I think you're I can't believe you've done so well you're such you're a nice person I said well some people don't have to know that No that's not true I mean I always thank

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you Um I have to say since I've been with Lucy and I feel like I got an I have a little edge on um I feel like I got an MBA on designing and uh just just you know he too you don't necessarily be an architect to be rich It's all about passion and and and caring and a house

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and the the floor plan and all the the lighting and the design of a house can really make a difference Oh totally I agree That was um really very a very important and I just I got to meet so many developers He worked with Gary Barnett of Extel who's the number one

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This is interesting He's the number one developer I think he's actually bigger than Relate I mean relate it's huge but in New York there's a book called Kings of New York Lucien I want you to know this is just a like an eighth of the books and he's read every one of them

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Wow And those are all architecture books This section is and then we have a cowboy section over there cookbooks over there But I mean it all these books are uh just amazing and it's a source like Louis Sullivan happens to be one of his favorite architects and he lived in a

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Louis Sullivan house He Louis Sullivan didn't um design that many single family homes but he when he came here from McGill from Montreal um his mentors were Bruce Graham and Bisler Khan who designed the Sears Tower and he was there at the cigarette story I don't know if anyone ever heard that where

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Bruce Graham had cigarettes and he went like this and he had the towers and that's how the Sears Tower like got to be stacked Right So that was I mean there's so many great stories about Chicago but this is uh amazing And then over here this is one of his buildings

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He doesn't um but that's a Ritz Carlton residence which I love it because I in my eye that's where I would like to live one of his buildings We have to move in one of his buildings but I really love that building I like art deco I do like art deco I do too Beautiful So that's

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Well Melinda I wish we could spend more time I wish we had more time but I always like to end um with a question and I know you'll answer You haven't heard this question yet so you'll be thinking and come out with something beautiful for our audience here but um

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when all is said and done like you said it's not about how much money you've accumulated your wealth Um it's about this you know living life at you know with the highest level of gratitude and the energy integrity and integrity and integrity So what would your answer be

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when I asked the question of what is the definition of a well-lived life i think uh friendships and love and if you haven't loved you don't have you don't have to have a hundred um friends but if you have a handful of good friends um I think that if you are respected in your profession

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and and people know that uh you're a person of your word um I think that's really important um I I think traveling you learn from other people and uh not to be judgmental because some people everyone has a story Let people tell their story and I think if you listen to their story you'll really

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become very wise I love that That is beautiful That's perfect And I'm going to take that with me for the entire weekend and spread that message out And of course this podcast will uh be able to um share that with many more our people than I'll actually physically see face to face But

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Melinda talk about a well-lived life and you're still have many more moons to go here You do you are a very special friend and you do care so much and it's so obvious and you're so genuine and so authentic and I'm so blessed to have you in my life and thank you and the

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feelings mutual from the bottom of my heart and everyone who knows Wendy's a lucky person Oh everyone who knows Melinda's got a gift right so namaste my girlfriend Wishing you great health and happiness this weekend We'll be seeing each other very soon Give Luc Lucina a

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kiss for us and thank you again To you To you Bye Bye