Real Estate Portfolio Mgr, Sr.

Old National Bank; Chicago (IL); On-site; USD 82,000 - 165,000; Full time

Job summary

Old National Bank is seeking a Real Estate Portfolio Lead in Chicago to manage and optimize the bank's real estate portfolio, leading lease, acquisition, and disposition transactions. You will oversee lease administration, reporting, and related accounting while partnering with Facilities, Legal, Finance, and senior leaders.

The role requires 8+ years in commercial real estate, strong negotiation skills, and experience with portfolio analytics and ASC 842 lease accounting.

Qualifications

• 8+ years of progressive commercial real estate experience.
• Experience leading lease negotiations, acquisitions, and dispositions.
• Proven ability to manage multi-site real estate portfolios.
• Experience with financial institutions or highly regulated environments preferred.
• Strong negotiation and leadership skills.
• Excellent written and verbal communication.
• Familiarity with ASC 842 lease accounting.

Responsibilities

• Manage and optimize the bank's real estate portfolio.
• Lead lease, acquisition, disposition, and development transactions.
• Oversee lease administration, accounting, and reporting.
• Provide insights on portfolio performance and risk.
• Collaborate with Facilities, Legal, Finance and leaders.
• Mentor team members and lead cross-functional teams.

Skills

Negotiation skills

Relationship management

Communication skills

Analytical thinking

Problem-solving

MS Excel

PowerPoint

Real estate portfolio management

Data analytics

Tools

Microsoft Excel

PowerPoint

Real estate portfolio management systems

Job description

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

The Real Estate Portfolio Lead is responsible for managing and optimizing the Bank's real estate portfolio through asset management, transaction execution, financial analysis, and strategic planning. This role leads lease, acquisition, disposition, and portfolio initiatives while providing oversight of lease administration, lease accounting, and third-party service providers. The position partners closely with Facilities, Design & Construction, Legal, Finance, and business leaders to maximize portfolio performance, manage risk, and support the Bank's long-term real estate strategy.

Salary Range

The salary range for this position is $81,700/yr - $165,100/yr plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

Duties and Responsibilities:

Portfolio & Asset Management

• Manage the Bank's leased and owned real estate portfolio.
• Monitor portfolio performance, lease obligations, operating costs, occupancy metrics, and market conditions.
• Track critical lease, property, and ownership dates and develop recommendations to support portfolio optimization.
• Manage relationships with landlords, tenants, brokers, governmental agencies, and external stakeholders.
• Oversee lease administration and lease accounting functions to ensure data accuracy, compliance, audit readiness, and effective reporting.
• Portfolio space management activities, including occupancy planning, utilization analysis, and workplace optimization initiatives.
• Manage property tax assessments and appeals in partnership with third-party consultants and internal stakeholders.
• Support management and disposition of OREO and other held-for-sale assets.
• Oversee property-related matters, including easements, encroachments, access agreements, deed restrictions, and other real estate rights and obligations.

Transactions, Acquisitions & Negotiations

• Lead lease, renewal, relocation, acquisition, disposition, and development transactions across the portfolio.
• Develop transaction strategies and buy-versus-lease analyses to support business and financial objectives.
• Coordinate due diligence, internal approvals, entitlements, and transaction documentation.
• Manage brokers, attorneys, appraisers, consultants, and other external service providers throughout transaction execution.
• Represent the Bank in negotiations with landlords, sellers, buyers, developers, governmental entities, and community stakeholders.
• Lead real estate acquisitions and dispositions, including financial evaluation, contract negotiation, due diligence, closing activities, and post-transaction integration.
• Manage municipal requests and approvals, including zoning matters, variances, permits, right-of-way issues, and other local government requirements that impact the portfolio.

Strategy & Leadership

• Support development and execution of corporate real estate, occupancy, and workplace strategies.
• Provide data-driven recommendations and insights to senior leadership regarding portfolio performance, risk management, and optimization opportunities.
• Assist with merger and acquisition real estate due diligence, integration planning, and portfolio rationalization efforts.
• Mentor team members and foster collaboration across Corporate Real Estate and partner functions.
• Provide oversight and strategic direction to lease administration, transaction management, tax appeal consultants, and other third-party service providers to ensure high-quality service delivery and alignment with organizational objectives.

Additional Success Measures

• Effective management of tax appeals, municipal approvals, and property-related obligations resulting in cost savings and risk mitigation.
• Accurate space management and occupancy reporting that supports business planning and workplace strategy.
• Successful execution of acquisitions, dispositions, easements, and other complex real estate transactions.
• Strong governance and administration of lease obligations, critical dates, and compliance requirements across the portfolio.

Knowledge & Technical Skills

• Strong understanding of commercial real estate principles, market dynamics, lease structures, and transaction processes.
• Knowledge of lease administration, lease accounting requirements, and real estate financial analysis.
• Ability to analyze financial statements, real estate valuations, occupancy costs, investment returns, and buy-versus-lease scenarios.
• Familiarity with zoning, land use regulations, municipal approval processes, property taxes, easements, deed restrictions, and related property rights issues.
• Proficiency in Microsoft Excel, PowerPoint, and real estate portfolio management systems.
• Working knowledge of lease accounting standards (ASC 842) preferred.
• Experience utilizing data analytics and reporting tools to support portfolio decision-making.

Leadership & Professional Skills

• Strong negotiation, relationship management, and influencing skills.
• Ability to communicate complex real estate concepts effectively to executive leadership and business partners.
• Proven ability to manage multiple projects and priorities in a fast-paced environment.
• Strong analytical, strategic thinking, and problem-solving capabilities.
• Demonstrated ability to lead cross-functional teams and build collaborative partnerships across business units.
• Excellent written and verbal communication skills with strong attention to detail.

Qualifications:

• 8+ years of progressive commercial real estate experience, including portfolio management, transactions, asset management, lease administration, or corporate real estate.
• Demonstrated experience managing a multi-site real estate portfolio consisting of leased and owned properties.
• Proven experience leading lease negotiations, acquisitions, dispositions, renewals, and complex real estate transactions.
• Experience supporting real estate aspects of mergers, acquisitions, consolidations, and portfolio optimization initiatives preferred.
• Experience working with financial institutions, corporate occupiers, or highly regulated environments preferred.
• Experience managing third-party brokers, consultants, attorneys, appraisers, and service providers.

Professional Designations (Preferred)

• Certified Commercial Investment Member (CCIM)
• Certified Corporate Real Estate Executive (MCR, SLCR, or CERC)
• Real Property Administrator (RPA)
• Certified Property Manager (CPM)
• Active real estate broker's license, where applicable

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank. Join our team!