Commercial Property Manager

Property ManagerMadison RE is looking for an experienced Commercial Property Manager to manage our Class B/C office building at 105 W. Madison Street, located in the heart of the Chicago Loop's financial district. Our company's core values are:Get it DoneRide the WaveAdd ValueExhibit PassionThis is a hands-on, on-site role covering the full scope of office building management — base building operations, tenant relations, lease administration, engineering and life-safety systems, and capital/tenant improvement projects — in close coordination with Madison RE leadership, building engineers, and third-party vendors. This role requires someone who enjoys solving problems, improving processes, building relationships, and taking ownership. The successful candidate will balance strategic thinking with hands-on execution and thrive in a fast-paced, entrepreneurial environment. We are looking for candidates who possess the qualities of an Ideal Team Player — someone who is Humble, Hungry, and Smart.Humble – confident but always willing to learnHungry – takes ownership, drives initiatives forward, and constantly looks for ways to improve operationsSmart – builds trust with tenants, vendors, ownership, and team members through strong communication and sound business judgmentAbout You7+ years of experience managing commercial office properties, ideally Class B/C, multi-tenant, urban/CBD buildingsStrong knowledge of office building operations, including HVAC, elevators, life safety systems, building engineering, and preventive maintenanceDirect experience with CAM/operating expense reconciliations, escalation billings, and BOMA-standard rentable/usable square footage measurementsWorking knowledge of office lease structures (full-service gross, modified gross, NNN) and how base building vs. tenant-responsible costs are allocatedDemonstrated experience preparing and managing annual operating budgets and capital budgetsProven ability to read and analyze property-level financial statements, including P&L statements and budget variances, and to implement initiatives that improve NOIExperience negotiating and managing vendor contracts and service agreements across engineering, janitorial, security, and other building tradesExperience coordinating tenant build-outs and tenant improvement (TI) allowances, including plan review, contractor coordination, and construction-related tenant communicationStrong understanding of commercial lease administration and tenant obligationsExceptional organizational and project management skills, with the ability to prioritize multiple projects while maintaining a high level of serviceExcellent communicator; able to professionally represent the building to tenants, brokers, vendors, and ownershipProficient in Microsoft Office products, particularly Excel, as well as Word and OutlookFamiliarity with Yardi Voyager or similar commercial property management software preferredThorough understanding of local and state codes and regulations governing commercial office property management in ChicagoAbility to lift 50+ lbs and walk multiple flights of stairsCore Responsibilities Included but not limited to: Building & Financial OperationsDirect all day-to-day operations of the office building, ensuring a well-run, well-maintained, and tenant-ready base building environmentLead development and execution of the annual operating budget, income and expense statements, and capital improvement plansPrepare and deliver financial reports, including budgets, variance analyses, and cash flow forecasts to MADISON RE leadershipOwn the annual CAM/operating expense reconciliation process and tenant escalation billings, ensuring accuracy and timely deliveryOversee accounts receivable and enforce rent collection policies in accordance with lease terms and company proceduresOversee the processing and approval of accounts payable, ensuring invoices are coded accurately and submitted in compliance with company procedures and timelinesLead competitive bid processes for building service contracts (janitorial, security, engineering, landscaping, life safety) and capital projectsLead the quoting and binding process for property-level insurance coveragePrepare annual jurisdictional forms and filings, and maintain compliance with local and state codes and regulations, including City of Chicago building code and life-safety requirementsTenant Relations & LeasingCollaborate closely with the Leasing & Marketing team and outside brokers to execute new and renewal leases aligned with strategic objectives and to maximize building revenueManage tenant move-ins and move-outs, including space turnover, certificate of insurance tracking, and building access/security setupMaintain regular communication with tenant representatives, promptly addressing issues or concerns to enhance the tenant experienceSpearhead tenant retention efforts, fostering strong relationships and distributing tenant surveys to drive continuous improvementIdentify and act on opportunities to improve tenant recovery ratios and reduce controllable operating expensesMaintenance, Engineering & Capital ProjectsOversee building engineering and maintenance functions, ensuring base building mechanical, electrical, plumbing, HVAC, elevator, and fire/life safety systems perform reliably and remain code-compliantDevelop and implement robust preventive maintenance programs for all base building systemsManage all building vendors and service providers, including engineering, janitorial, security, landscaping, elevators, HVAC, fire/life safety, parking, and waste removalConduct competitive bidding for service contracts and capital projects; evaluate vendor performance and hold vendors accountable for service qualityCoordinate building improvement projects from planning through completion, including developing scopes of work, soliciting competitive bids, managing schedules and budgets, and providing regular updates to ownershipCoordinate tenant improvement construction and build-out activity with tenants to minimize disruption to building operationsConduct periodic inspections of building common areas, lobby, restrooms, and mechanical rooms, proactively identifying maintenance or repair needsAsset PerformancePartner with ownership to maximize the long-term value of the propertyRecommend operational improvements and capital investmentsMonitor market conditions and competitive propertiesSupport leasing initiatives by ensuring available space is well-maintained and market-readyProvide ownership with regular reporting on operational performance and major initiativesLeadershipLead and support on-site personnel and third-party service providers, including hiring, training, and managing engineering, maintenance, and administrative staff as applicableSet clear goals and objectives for direct reports and service providers, conduct performance evaluations, and hold vendors accountableCreate a culture focused on responsiveness, professionalism, and continuous improvementCommunication & ReportingMaintain effective communication with ownership, MADISON RE leadership, and other relevant stakeholdersServe as the primary liaison between the building and MADISON RE's corporate departmentsPerform other duties as assignedSuccess in This Role The successful Property Manager will:Deliver an exceptional tenant experienceMaintain a well-operated and financially disciplined propertyBuild strong relationships with tenants and vendorsDrive operational improvements through systems and process developmentExecute capital projects efficientlyProtect and enhance the long-term value of the assetTake ownership of issues and consistently follow through to resolution