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