VP of Asset Management

Job Details

Job Location: Evergreen Real Estate Group - Chicago, IL 60661

Position Type: Full Time

Education Level: 4 Year Degree

Salary Range: $180,000.00 - $210,000.00 Salary

Job Category: IL Leasing License NOT Required

Position Title: Vice President of Asset Management

Department: Asset Management

Reports To: Chief Executive Officer (current) or Chief Operating Officer (once hired)

Location: Chicago, IL (Hybrid)

FLSA Status: Exempt

Salary Range: $180,000 – $210,000 (plus 25%–30% bonus potential)

Benefits

Evergreen Real Estate Group offers a comprehensive benefits package, including medical, dental, and vision coverage (UnitedHealthcare, Delta Dental, EyeMed), company-paid life and disability insurance, a 401(k) with company match, HSA/FSA options, and an Employee Assistance Program.

Job Summary

Evergreen Real Estate Services is seeking a strategic, systems-oriented Vice President of Asset Management to lead and build a best-in-class asset management function for a growing national affordable housing portfolio, including assisted living communities. Evergreen companies own 66 developments across the US with 8,000 units and closes on approximately 10-14 new properties annually. While most properties are property managed in-house, several are managed by third parties.

This role operates from a true ownership perspective, with primary responsibility for driving long-term asset value, financial performance, and investment outcomes across the portfolio. The VP of AM will translate property-level data into actionable business decisions, guide asset-level strategy and performance oversight, support acquisitions and integrations, and serve as a key partner to executive leadership, investors, and lenders.

Evergreen currently has some asset management functions handled by different business units. The goal is to centralize, professionalize, and expand asset management’s role in the organization to protect and improve the growing portfolio.

Key Responsibilities

Portfolio Strategy & Ownership Oversight

• Develop, maintain, and communicate asset-level business plans aligned with financial and operational goals
• Monitor performance across occupancy, collections, expenses, reserves, capital needs, and compliance
• Provide ownership-level insight and recommendations on portfolio strategy and asset performance
• Lead portfolio reporting and present risks, opportunities, and action plans to senior leadership
• Participate in the Evergreen Leadership Team (using EOS as a platform)
• Set and track 90 day “rocks” that support completion of longer-term company goals
• Collaborative with rest of senior leadership to identify and solve problems
• Communicate and execute goals throughout the Asset Management functions

Financial Performance & Risk Management

• Review monthly financials, variances, and reforecasts; identify trends and recommend solutions
• Provide oversight for third party property managers
• Complete HUD rent increase requests to maximize revenue
• Establish reporting processes that support decision-making without overburdening operations
• Review and analyze property operating budgets, reserve levels, and capital needs to evaluate financial performance and support ownership-level asset strategy
• Lead and execute financial strategy for refinancing, recapitalizations, Year 15 transitions, and dispositions
• Track and oversee property tax incentives across the portfolio
• Evaluate and recommend AI options to improve information assessment and reduce time requirements for asset management tasks

Asset Integration & Business Plan Execution

• Support due diligence activities for acquisitions, transitions, and integrations by reviewing operational, financial, compliance, and physical asset information and identifying potential risks or performance concerns
• Partner with property management, accounting, compliance, and operations teams to support implementation of operating plans, financial goals, and performance expectations for newly onboarded assets
• Address stabilization challenges through coordinated, actionable solutions

Compliance & Regulatory Oversight

• Partner closely with the Compliance team to monitor regulatory performance, identify compliance-related risks, and support resolution planning for LIHTC, HUD, and other affordable housing programs
• Partner with internal teams to strengthen tracking of reporting deadlines and requirements
• Monitor compliance risks and ensure appropriate escalation and resolution

Capital Planning & Physical Asset Oversight

• Evaluate capital needs and priorities with operations and facilities teams
• Support financial and operational strategy related to refinancing, recapitalizations, Year 15 transitions, and dispositions in partnership with preservation, development, and executive leadership teams
• Review reserve usage, capital projects, and long-term asset preservation strategies
• Conduct periodic and strategic site visits as needed to assess overall asset condition, operational challenges, and performance trends

Watchlist, Turnaround & Manager Oversight

• Establish and manage a watchlist for underperforming or high-risk assets
• Develop and guide turnaround strategies for operational or financial challenges
• Evaluate effectiveness of property management (including third-party managers)
• Recommend management changes when necessary

Stakeholder Communication

• Serve as a primary contact for investors, lenders, and financial partners post-stabilization
• Develop clear ownership narratives for performance issues and strategic decisions
• Present recommendations to internal and external stakeholders

Department Leadership & Process Development

• Build scalable systems, reporting tools, and processes for asset management
• Partner with IT and internal teams to improve data and reporting capabilities
• Help define future staffing needs and support department growth
• Support organizational alignment by reinforcing structured goal-setting, accountability, and performance tracking frameworks (e.g., EOS or similar systems)

Evergreen Real Estate Group has 7 Core Values that the VP of AM needs to align with:

• Commitment to Excellence: In order to succeed, we need to be the best at what we do. We show up every day and pursue excellence.
• No Drama: We bring a positive, productive attitude to challenges and focus on solutions, without blame, deflection, and negativity.
• One Team, One Mission, One Evergreen: Every role is essential to our success, and together we achieve more than any of us individually could alone.
• Find A Way: We face every challenge with determination, creativity, and resilience.
• GrowGrowGrow: Growth creates opportunity for the company, the mission, and each of us individually.
• Entrepreneurial Spirit: We bring our best ideas to drive growth, spark innovation, and improve results.
• Care Deeply: We care deeply about our residents, communities, and each other.

Education & Experience

• Bachelor’s or Master’s degree in Finance, Real Estate, Business Administration, or related field preferred
• 7+ years of progressive experience in affordable housing asset management or related ownership-side roles
• Strong experience with LIHTC, HUD, and affordable housing operations
• Experience with financial analysis, portfolio oversight, and capital strategy
• Prior leadership or department-building experience preferred

Licenses & Certifications

• Relevant professional certifications or designations in real estate, finance, or asset management are a plus (e.g., CFA, CPA, CCIM, or similar)

Technical & Physical Skills

• Strong financial analysis and modeling skills
• Ability to interpret complex property financials and performance data
• Proficiency in property management and financial reporting systems
• Ability to travel for site visits as needed

Other Requirements

This role operates cross-functionally in partnership with Property Management, Compliance, Facilities, Accounting, and Development teams and is primarily focused on ownership-level asset strategy, financial performance, and risk oversight.

• Ability to operate at both strategic and operational levels
• Strong cross-functional collaboration skills
• Experience working with third-party management companies preferred