June 07, 2012 03:00 PM

Courtesy Graham Elliot

Chicago chef Graham Elliot has plenty on his plate these days.

He celebrated the grand opening of his third restaurant, G.E.B. (Graham Elliot Bistro) on Monday, his hit show MasterChef premiered the same night — and he’s expecting his third baby boy in September!

“Having kids makes you realize that all the things you used to stress out over really don’t matter at all,” Elliot, 35, tells PEOPLE.

The chef and his wife, Allie, have settled on a family name with lots of history for their soon-to-be son: Jedediah Pope.

“Her dad’s name is Jed, and the name Pope was the middle name of everyone on my dad’s side,” he explains. “The names Jed and Pope don’t get used often, and they’re part of our family history, so why not embrace that?”

Jed will join the couple’s son Conrad, 20 months, and Mylo, 5, Elliot’s son from a previous marriage. Big brother Mylo is “the king of the house,” says Elliot. “He’s super loving and he feels pride that the others will be looking up to him.”

The TV judge is also looking to upgrade his home to accommodate his expanding family — and debating on individual rooms versus bunk beds for the boys.

But for now, planning the nursery is at the top of the to-do list. “Mylo had a cowboy theme and with Conrad it was giraffes,” he says. “I don’t know what we’re going to do with baby number three!”

— Thailan Pham

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