Development Manager

Evergreen Real Estate Services; Chicago (IL); Hybrid; USD 100,000 - 130,000; Full time

Job summary

Evergreen Real Estate Group in Chicago, IL seeks a Development Manager to lead LIHTC and ground-up real estate deals across Ohio, overseeing financial modeling, funding applications, due diligence, closing, and construction-period execution.

You will own development proformas, coordinate 4% LIHTC and tax-exempt bond applications, oversee due diligence, and manage equity/debt packages with investors and lenders while traveling to project sites as needed.

Qualifications

• Bachelor's degree in real estate, finance, urban planning, business or related field.
• 5+ years of LIHTC development or ground-up real estate development experience.

Responsibilities

• Own the development proforma from underwriting through closing and construction.
• Lead preparation of 4% LIHTC and tax-exempt bond applications to OHFA and other agencies.
• Manage due diligence checklists across lender, investor, and operator workstreams and coordinate closing.
• Prepare equity and debt packages and respond directly to investor and lender underwriting questions.
• Support market research, demand analysis, site due diligence, and entitlements.
• Periodic travel to Ohio project sites for site visits, agency meetings, closings, and openings.

Skills

Financial modeling

Underwriting

Investor communication

Excel modeling

Project management

Education

Bachelor's degree in real estate/finance/urban planning/business

Tools

Microsoft Excel

PowerPoint

Job description

Job DetailsJob Location: Evergreen Real Estate Group - Chicago, IL 60661 Position Type: Full Time Education Level: 4 Year Degree Salary Range: $100,000.00 - $130,000.00 Salary Job Category: IL Leasing License NOT Required

Evergreen Real Estate Group is scaling a pipeline of 4% LIHTC Affordable Assisted Living (AAL) communities across Ohio under the Green Oaks brand. Each deal is a ground-up development financed with tax-exempt bonds, 4% LIHTC equity, and layered gap sources. Evergreen Senior Living (ESL) is seeking a Development Manager to work on every phase of these deals — financial modeling, funding applications, due diligence, closing, and construction-period execution. The Development Manager carries the analysis and the deal understanding that moves each project forward, and is a point of contact for investors, lenders, and agencies.

Key Responsibilities

Financial Modeling & Underwriting

• Own the development proforma for each deal, maintaining the model from initial underwriting through application, closing, construction, and conversion
• Run sources and uses, sensitivity analysis, and structuring scenarios

Funding Applications & Public Finance

• Lead preparation of 4% LIHTC and tax-exempt bond applications to OHFA and other state housing finance agencies, plus gap funding applications
• Coordinate third-party reports — market studies, appraisals, environmental, and other diligence — to application and lender timelines

Due Diligence & Closing

• Own due diligence checklists across lender, investor, and operator workstreams; review and summarize key documents (loan documents, LPA, PSA, operating agreements) so the team can act on them
• Drive the closing process: coordinate counsel, lender, syndicator, and operator; keep the model current; assemble closing packages

Investor & Lender Communication

• Prepare equity and debt packages and respond directly to investor and lender underwriting questions
• Manage construction-period reporting to investors, lenders, and agencies, including draw support and conversion deliverables
• Write internal analysis and reporting — pipeline updates, deal memos, and investment committee materials

Predevelopment & Project Support

• Support market research, demand analysis, site due diligence, and zoning and entitlement work, including meetings with local governments
• Keep deal files organized and current on shared systems so anyone on the team can find what they need

Education & Experience

• Bachelor's degree in real estate, finance, urban planning, business, or a related field
• 5+ years of experience in LIHTC development or ground-up real estate development, with deals taken from underwriting or application through closing
• Direct experience with state HFA applications, tax-exempt bond executions, or LIHTC equity closings strongly preferred; senior housing exposure a plus, not required

Technical & Physical Skills

• Advanced Excel modeling skills; able to build and maintain a full development and operating proforma independently
• Able to read, question, and summarize deal documents

Other Requirements

• Periodic travel to Ohio project sites for site visits, agency meetings, closings, and community openings

Skills

• Strong written communication for investor, lender, and agency audiences
• Organized and reliable across many parallel workstreams

Work Environment & Physical Demands This role is based at Evergreen's corporate office in Chicago on a hybrid schedule, with periodic travel to Ohio for site visits, agency meetings, closings, and community openings. Specific physical demands were not further detailed in the source job description. Evergreen Real Estate Group provides reasonable accommodations to enable qualified individuals with disabilities to perform the essential functions of this role.