Commercial Property Manager

Clear Investment Group

Chicago (IL)

On-site

USD 76,500 - 93,500

Full time

14 days+

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Benefits offered by this job

Bonus program

Generous PTO

Year-end bonuses

Job summary

Madison RE is seeking an experienced Commercial Property Manager for 105 W. Madison Street in Chicago. This hands-on, on-site role oversees operations, tenant relations, lease administration, engineering, and life-safety systems for a ±139,000 SF Class B/C office building.

You will manage CAM reconciliations, operating expense escalations, TI allowances, and budgeting in collaboration with leadership, engineers, and vendors. Strong communication and ownership are essential.

Qualifications

Experience managing commercial office properties, ideally Class B/C.
Experience with CAM/operating expenses reconciliations.
Knowledge of office lease structures and cost allocations.
Ability to prepare and manage operating and capital budgets.
Ability to read and analyze property-level financial statements.

Responsibilities

Direct day-to-day operations of the office building and maintain a tenant-ready base.
Lead annual operating budgets, income/expense statements, and capital plans.
Deliver financial reports and CAM/expense reconciliation results to leadership.
Oversee AR/AP processes and rent collection according to leases.
Coordinate vendor contracts and capital/maintenance projects.
Coordinate tenant build-outs and TI allowances with tenants.

Skills

7+ years experience

CAM/operating expense

BOMA‑standard measurements

lease administration

budgets & capital budgets

vendor contract mgmt

tenant build-outs (TI)

read financial statements

communication

MS Office (Excel/Wrd/Outlook)

Yardi Voyager

Tools

Yardi Voyager

Microsoft Office

Job description

Property Manager — 105 W. Madison Street

Company Overview

Madison 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 Done
Ride the Wave
Add Value
Exhibit Passion

Job Details

Job Title: Property Manager

Property: 105 W. Madison Street, Chicago, IL

Department: Property Management

Reports To: Director of Property Management

Job Type: 100% on-site; full-time

Compensation and Benefits

Base salary $85,000+ commensurate with experience
Eligible for year-end and performance bonuses
Generous PTO policy

Overview

We are seeking an experienced commercial office Property Manager to serve as the operational leader of 105 W. Madison Street, a ±139,000 SF Class B/C office building in Chicago's Loop. This 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 is built for someone who speaks the language of office real estate: CAM reconciliations and operating expense escalations, tenant build‑outs and TI allowances, BOMA‑standard leasing measurements, base building vs. tenant‑responsible systems, and the day‑to‑day rhythm of running a multi‑tenant Loop office building.

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 learn
Hungry – takes ownership, drives initiatives forward, and constantly looks for ways to improve operations
Smart – builds trust with tenants, vendors, ownership, and team members through strong communication and sound business judgment

About You

7+ years of experience managing commercial office properties, ideally Class B/C, multi‑tenant, urban/CBD buildings
Strong knowledge of office building operations, including HVAC, elevators, life safety systems, building engineering, and preventive maintenance
Direct experience with CAM/operating expense reconciliations, escalation billings, and BOMA‑standard rentable/usable square footage measurements
Working knowledge of office lease structures (full‑service gross, modified gross, NNN) and how base building vs. tenant‑responsible costs are allocated
Demonstrated experience preparing and managing annual operating budgets and capital budgets
Proven ability to read and analyze property‑level financial statements, including P&L statements and budget variances, and to implement initiatives that improve NOI
Experience negotiating and managing vendor contracts and service agreements across engineering, janitorial, security, and other building trades
Experience coordinating tenant build‑outs and tenant improvement (TI) allowances, including plan review, contractor coordination, and construction‑related tenant communication
Strong understanding of commercial lease administration and tenant obligations
Exceptional organizational and project management skills, with the ability to prioritize multiple projects while maintaining a high level of service
Excellent communicator; able to professionally represent the building to tenants, brokers, vendors, and ownership
Proficient in Microsoft Office products, particularly Excel, as well as Word and Outlook
Familiarity with Yardi Voyager or similar commercial property management software preferred
Thorough understanding of local and state codes and regulations governing commercial office property management in Chicago
Ability to lift 50+ lbs and walk multiple flights of stairs

Core Responsibilities

Included but not limited to:

Building & Financial Operations

Direct all day‑to‑day operations of the office building, ensuring a well‑run, well‑maintained, and tenant‑ready base building environment
Lead development and execution of the annual operating budget, income and expense statements, and capital improvement plans
Prepare and deliver financial reports, including budgets, variance analyses, and cash flow forecasts to MADISON RE leadership
Own the annual CAM/operating expense reconciliation process and tenant escalation billings, ensuring accuracy and timely delivery
Oversee accounts receivable and enforce rent collection policies in accordance with lease terms and company procedures
Oversee the processing and approval of accounts payable, ensuring invoices are coded accurately and submitted in compliance with company procedures and timelines
Lead competitive bid processes for building service contracts (janitorial, security, engineering, landscaping, life safety) and capital projects
Lead the quoting and binding process for property‑level insurance coverage
Prepare annual jurisdictional forms and filings, and maintain compliance with local and state codes and regulations, including City of Chicago building code and life‑safety requirements

Tenant Relations & Leasing

Collaborate closely with the Leasing & Marketing team and outside brokers to execute new and renewal leases aligned with strategic objectives and to maximize building revenue
Manage tenant move‑ins and move‑outs, including space turnover, certificate of insurance tracking, and building access/security setup
Maintain regular communication with tenant representatives, promptly addressing issues or concerns to enhance the tenant experience
Spearhead tenant retention efforts, fostering strong relationships and distributing tenant surveys to drive continuous improvement
Identify and act on opportunities to improve tenant recovery ratios and reduce controllable operating expenses

Maintenance, Engineering & Capital Projects

Oversee building engineering and maintenance functions, ensuring base building mechanical, electrical, plumbing, HVAC, elevator, and fire/life safety systems perform reliably and remain code‑compliant
Develop and implement robust preventive maintenance programs for all base building systems
Manage all building vendors and service providers, including engineering, janitorial, security, landscaping, elevators, HVAC, fire/life safety, parking, and waste removal
Conduct competitive bidding for service contracts and capital projects; evaluate vendor performance and hold vendors accountable for service quality
Coordinate building improvement projects from planning through completion, including developing scopes of work, soliciting competitive bids, managing schedules and budgets, and providing regular updates to ownership
Coordinate tenant improvement construction and build‑out activity with tenants to minimize disruption to building operations
Conduct periodic inspections of building common areas, lobby, restrooms, and mechanical rooms, proactively identifying maintenance or repair needs

Asset Performance

Partner with ownership to maximize the long‑term value of the property
Recommend operational improvements and capital investments
Monitor market conditions and competitive properties
Support leasing initiatives by ensuring available space is well‑maintained and market‑ready
Provide ownership with regular reporting on operational performance and major initiatives

Leadership

Lead and support on‑site personnel and third‑party service providers, including hiring, training, and managing engineering, maintenance, and administrative staff as applicable
Set clear goals and objectives for direct reports and service providers, conduct performance evaluations and hold vendors accountable
Create a culture focused on responsiveness, professionalism, and continuous improvement

Communication & Reporting

Maintain effective communication with ownership, MADISON RE leadership, and other relevant stakeholders
Serve as the primary liaison between the building and MADISON RE's corporate departments
Perform other duties as assigned

Success in This Role

The successful Property Manager will: