A veteran dealmaker has left one of Chicago’s biggest development firms to go back into brokerage, Jay Madary’s multifamily investment firm appointed a new chief investment officer, a local conglomerate of MLS’s has a new top attorney and a duo of Berkshire Hathaway HomeServices agents jumped to Compass.
Read on for more Chicago-area real estate career moves.
➤ Jesse Van Dyke has left Sterling Bay for a new role at Newmark this week in a return to brokerage.
The former director of national leasing for Chicago-based Sterling Bay is now the Midwest lead for Newmark. He will serve as Executive Vice President for Newmark’s North and Central Regions which include the firm’s Chicago, Minneapolis, Milwaukee and Detroit offices.
The hire illustrates New York-based Newmark’s interest in maintaining a stake in the Midwest and extends its talent acquisition streak.
“Newmark is growing faster than any other real estate firm,” Van Dyke claimed.
He spent three years with Sterling Bay, leading its leasing efforts for projects outside Chicago, and previously held positions with WeWork, JLL and CBRE. He was a key player in Citadel’s acquisition of the site of its future global headquarters in Miami. The financial services company was previously based in Chicago.
Van Dyke’s first day with Newmark was September 3.
➤ Jay Madary’s Oak Brook-based multifamily investment firm JVM Realty appointed Adam Short as its new chief investment officer, after Short left the same role with Chicago-based developer Golub & Co.
Short brings nearly two decades of experience in multifamily real estate, having worked 18 years at Golub in various roles until rising to its CIO for the past year. His role at JVM — which manages a $1.6 billion Midwest multifamily portfolio — will focus on managing capital needs, directing transactions, and overseeing investment strategy.
“His impressive track record, deep relationships across the Midwest, and comprehensive understanding of the real estate market match perfectly with JVM’s goals and investment strategy,” Madary said in a statement.
Short succeeds JVM’s former CIO Steve Meyer, who’s transitioning to a senior advisor role.
➤ Midwest Real Estate Data, the conglomeration of local multiple listing services in the Chicago area serving nearly 50,000 members, picked up Charles El-Moussa as its new general counsel.
El-Moussa’s previous roles included serving as president at Coldwell Banker Realty and as general counsel and COO at RE/MAX in Texas, and he’s also mentored real estate tech startups.
His move to MRED comes as MLS’s across the nation are grappling with major changes forced by a $418 million legal settlement agreed to by the National Association of Realtors that requires listings to no longer disclose the amount of commission being offered, among other shifts to industry practices.
El-Moussa’s work for MRED will include working with current legal firm Greenberg Traurig on existing litigation, as well as handling MRED’s internal contracts and governance, supporting its human resources and providing legal advice on strategic direction.
“What really sets Charles apart is his innovative mindset and his ability to blend legal expertise with strategic insight,” MRED’s CEO Rebecca Jensen said in a statement.
➤ Anna Fiascone and Natalie Ryan, two of Berkshire Hathaway HomeServices Chicago agents, jumped ship to Compass.
After spending 15 and eight years, respectively, at Berkshire, they pulled off $36 million in sales over the past 12 months and $130 million since 2020, when they began their partnership.
Ryan and Fiascone’s business, AFNR Homes, recently closed a highlight deal with the $5.1 million sale of 15W181 87th Street in southwest suburban Burr Ridge.
Compass’ recruitment of Ryan and Fiascone follows it snagging other notable Chicago teams including The Capitaninis and The Pak Group.
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