Interra Realty, a Chicago-based commercial real estate investment services firm, has promoted Joe Smazal and Brad Feldman from managing partners to senior managing partners.
One of Chicago’s leading multifamily investment sales brokers, Smazal has completed more than $200 million in multifamily transactions since 2017. In 2018, he was responsible for more $1 million in multifamily deals in Chicago, more than any other broker according to CoStar. While the highest concentration of his deals has been on the North and Northwest Sides of Chicago, Smazal is also active in and around the Hyde Park neighborhood.
“Joe is an exceptional multifamily investment broker, with deep knowledge of the neighborhoods he serves, a commitment to understanding and meeting his clients’ needs and unequaled ability to bring deals to a close,” said David Goss, co-founder and managing principal of Interra Realty. “He’s one of the top brokers in the city, and we feel lucky to have him. He also has shown great leadership in advancing the firm as a whole as we continue to gain market share.”
Recent deals brokered by Smazal include the $30 million deconversion sale of 445 W. Wellington Avenue, a 15-story, 117-unit condo building in Chicago’s Lakeview neighborhood. Smazal helped to educate more than 100 individual owners on the benefits of a bulk sale, guided them through the voting process and ensured a successful close.
In addition to his work as a broker, Smazal regularly mentors new agents, leads training workshops and provides input on Interra’s growth planning. He also has moderated panels on multifamily and commercial real estate. Smazal graduated from the University of Iowa, where he studied marketing and entrepreneurship. He is a licensed real estate broker in Illinois and has been with Interra since 2014.
Feldman joined Interra in 2011, a year after the company was founded, and has been instrumental in the firm’s success. Over the past three years, he has ranked second out of all Chicago multifamily brokers in the number of sale transactions over $1 million, having closed more than 80 multifamily or mixed-use property sales collectively valued at over $100 million during that period. Throughout his 13-year career, he has brokered 225 sales totaling more than $400 million.
Feldman also mentors newer brokers, including team member Conor McInerney, an associate with the firm, and often leads training sessions teaching best practices and other topics.
“Brad is a seasoned professional at the top of his game; he’s indispensable to our firm and a trusted adviser to both clients and colleagues,” said Goss. “His thorough knowledge of Chicagoland, broad-ranging sales and finance experience and collaborative approach allow him to tackle even the most complex real estate transactions. He sets a high standard for himself and those he mentors, and I couldn’t be more pleased that he’s a leader in the firm.”
Recent deals for Feldman include the off-market sale of a 19-unit multifamily property at 2035 W. Arthur Avenue in Chicago’s West Rogers Park neighborhood. The property sold for $2.8 million, or nearly $150,000 per unit, a strong price for the Rogers Park submarket, according to CoStar. He also has achieved leading per-unit prices in additional submarkets including both Logan Square and Edgewater.
Feldman earned his bachelor’s degree in business administration from the University of Wisconsin-Madison and is a licensed real estate broker in Illinois. He is a member of the Wisconsin Real Estate Alumni Association, Young Real Estate Professionals of Chicago and Southside Builders Association. He also serves on the board for the Cystic Fibrosis Foundation’s Young Professionals Leadership Committee in Chicago.