VP of Asset Management

VP of Asset Management

Hybrid
• Evergreen Real Estate Group - Chicago, IL 60661

Salary Range $ - $ Salary Position Type Full Time Education Level 4 Year Degree 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)

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

• 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…