Development & Construction Accountant

Vermilion Development is seeking a collaborative, detail-driven accountant to own construction draw administration and support project accounting for our growing portfolio of ground-up multifamily and senior housing developments. This role offers meaningful responsibility, cross-functional exposure, and the opportunity to grow with an entrepreneurial national platform. We are conveniently located in the Loop with access to CTA, Metra, and parking. This position is in-office 5 days per week. What You’ll Own Manage monthly construction draws from project closing through final completion and closeout. Prepare complete lender draw packages, including pay applications, invoices, schedules, proof of payment, lien waivers, and required support. Coordinate draw timing and requirements with development and construction teams, lenders, title companies, inspectors, fund-control firms, contractors, and vendors. Review pay applications against contracts, budgets, schedules of values, change orders, retainage, and work completed. Identify and resolve billing errors, missing documentation, coding issues, budget variances, and funding risks before submission. Track approvals, equity contributions, loan proceeds, reimbursements, disbursements, and project-level audit support. Development & Project Accounting Maintain accurate project cost records across entities, projects, cost codes, contracts, commitments, and change orders. Monitor actual costs against approved budgets and support cost-to-complete, contingency, and balance-to-fund reporting. Prepare project cost reports, draw reconciliations, funding schedules, and construction-in-progress reconciliations. Partner with development, construction, and finance leaders to investigate variances and surface potential shortfalls early. Support project setup, construction loan closings, capitalization, month-end close, audits, final draws, and project closeout. Improve accounting processes, internal controls, documentation, and reporting tools as the portfolio grows. Review, code, route, and enter invoices with accurate project and cost-code classification. Coordinate payment runs and monitor accounts payable aging, approvals, and available project funding. Manage vendor onboarding, tax documentation, payment information, and compliance records. Respond promptly to vendor questions and resolve invoice or payment discrepancies. Support Form 1099 preparation and maintain strong invoice, payment, and fraud-prevention controls. What Success Looks Like Construction draws are complete, accurate, and submitted on time. Project cost and funding records are reliable, organized, and audit-ready. Issues are identified early, communicated clearly, and resolved with urgency. Internal teams and external partners view you as responsive, dependable, and easy to work with. You take ownership, improve processes, and earn broader responsibility as the company grows. What We’re Looking For Bachelor’s degree accounting, finance, business, real estate, construction management, or a related field Three (3) or more years of experience in construction, development, project, or commercial real estate accounting Experience with construction draws, pay applications, project cost reporting, or construction-in-progress accounting Working knowledge of budgets, schedules of values, commitments, change orders, retainage, lien waivers, and cost coding What Sets You Apart Experience with a real estate developer, owner, general contractor, lender, title company, or fund-control firm Direct draw-management experience for multifamily, senior housing, mixed-use, or other ground-up developments Familiarity with construction loan agreements, lender inspections, title procedures, and equity funding requirements Experience with NetSuite, Procore, Yardi, MRI, Sage, AvidXchange, Nexus, or similar systems Month-end close, project capitalization, reconciliation, or audit experience Benefits Vermilion Development Offers to You Competitive salary and bonus opportunities Benefits package through Blue Cross Blue Shield of Illinois #J-18808-Ljbffr Vermilion Development