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Hal Karas


555 East Wells Street
Suite 1900
Milwaukee, WI 53202-3819
Phone: (414) 978-5499

Commercial Real Estate PDF
Hal Karas is a shareholder in the Milwaukee office of Whyte Hirschboeck Dudek S.C. where he is leader of the firm's New Markets Tax Credits Team, and member of the Real Estate Practice Group, and Corporate Transactions and Sustainability & Renewable Energy teams. Mr. Karas has been involved in all facets of business and real estate transactions, including commercial financing (both lender and borrower sides) and complex financing structures involving, New Markets Tax Credits (NMTC), Low Income Housing Tax Credits (LIHTC), Wisconsin Small Business Credit Initiatives, tax increment financings (TIF); as well as all aspects of the development and redevelopment of residential, commercial and mixed-use projects. He is a past Chair of the Real Property Probate and Trust Section of the State Bar of Wisconsin, and is admitted to practice in both Wisconsin and Massachusetts.


  • Northeastern University School of Law, J.D., 1978
  • The Ohio State University and Brandeis University, B.A., 1974


  • Wisconsin
  • Massachusetts

Awards & Distinctions

  • Selected for inclusion in The Best Lawyers in America┬« in Real Estate Law (2009-2016)
  • Named to the Wisconsin Super Lawyers list (2010-2013)
  • Ranked in Chambers USA - America's Leading Lawyers for Business in Real Estate (2008-2015)
  • Appointed by Governor Doyle to the State's Electronic Recording Council (2006-2010)

Representative Work

  • Representation of various community development entities, qualified active low income businesses, and senior lenders in leverage and direct models of NMTC transactions.
  • Involvement in numerous LIHTC transactions.
  • Representation of WHEDA in implementing the State Small Business Credit Initiative in Wisconsin.
  • Representation of businesses and municipalities in connection with TIF transactions and other support for economic development.
  • Purchase and sale of numerous manufacturing businesses in private transactions involving asset transfers or transfers of equities.
  • Placement of securitized auto loan pools.
  • Commercial finance of operating businesses, on both lender and borrower sides.
  • Representing an Internet-based start up company.
  • Representing a manufacturer of green technology building projects.
  • Representing a developer of waste energy projects.
  • Sophisticated and complex financing structures of transactions, including multiple levels of equity and debt.
  • Redevelopment of former manufacturing sites into mixed-use retail and residential units.
  • Development of golf courses with adjacent single-family lots and condominiums.
  • Construction lending for downtown Milwaukee high-rise office and residential buildings.
  • Development of downtown Milwaukee high-rise residential rental projects.
  • Development of vacant land mixed-use projects, primarily in Wisconsin and Illinois.
  • Development of thousands of other residential and commercial condominium units in urban and suburban settings.
  • Purchase, sale and financing in transactions in multiple states, including 1031 exchange transactions, ground leases, and public-component financing projects.

Professional Associations

  • Wisconsin Bar Association
  • Milwaukee Bar Association
  • American Bar Association
  • State Bar of Wisconsin: Past Chair of the Real Property Probate and Trust Section

Community Involvement

Articles and Presentations

  • Frequent presenter on economic development and business topics, State Bar of Wisconsin, Milwaukee Bar Association, Wisconsin Economic Development Association

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