VP of Asset Management

Job DetailsJob Location: Evergreen Real Estate Group - Chicago, IL 60661Position Type: Full TimeEducation Level: 4 Year DegreeSalary Range: $180,000.00 - $210,000.00 SalaryJob 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, or negativity.  One Team, One Mission, One Evergreen: Every role is essential to our success, and together we achieve more than any of us could alone.  Find A Way: We face every challenge with determination, creativity, and resilience.  Grow Grow Grow: 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    Skills  Strategic Asset Thinking -Ability to evaluate property performance from an ownership perspective, connect financial, operational, and physical indicators, and translate insights into clear, actionable strategies that drive long-term asset value.  Financial & Analytical Acumen - Strong ability to interpret complex financials, identify trends and risks quickly, and move from analysis to execution. Demonstrates sound judgment in budgeting, forecasting, capital planning, and investment decisions.  Ownership Mindset & Accountability - Approaches decisions with an investor mindset, taking full ownership of outcomes. Holds self and others accountable for performance, follow-through, and results across the portfolio.  Execution & Problem-Solving - Proactively identifies issues and drives solutions, particularly in underperforming or complex assets. Balances urgency with thoughtful decision-making and follows through to resolution.  Cross-Functional Leadership - Effectively partners across property management, development, accounting, compliance, and facilities to align priorities, resolve challenges, and drive performance. Leads through influence, not just authority.  Systems Thinking & Process Development - Ability to build structure in a growing organization by developing scalable systems, processes, and reporting frameworks that improve consistency, visibility, and decision-making.  Stakeholder Communication & Influence - Communicates clearly and confidently with internal leadership, investors, and external partners. Able to present complex information in a concise, actionable way and influence key decisions.  Regulatory & Industry Expertise - Demonstrates strong working knowledge of affordable housing programs (LIHTC, HUD, etc.) and integrates compliance considerations into asset strategy and risk management.  Adaptability & Growth Orientation - Thrives in a fast-paced, evolving environment. Comfortable navigating ambiguity and helping scale processes, teams, and infrastructure as the organization grows.    QualificationsWork Environment & Physical Demands   This role operates in a professional office environment with periodic travel to property sites. Responsibilities may include walking properties, evaluating physical conditions, and attending onsite meetings. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions