Strategic Real Estate Cost Manager

Related Midwest; Chicago (IL); On-site; USD 130,000 - 160,000; Full time

Job summary

Related Midwest is seeking a cost reporting and financial analysis professional to act as an intermediary among development, construction, accounting, and legal teams. You will ensure cost process compliance, oversee weekly and monthly cost reporting, and transform estimates into cost codes for projects in Chicago.

You will manage ACR structures, budgets, contingencies, and holds, while preparing historical, current, and forecasted cost analyses for stakeholders.

Qualifications

• Minimum of 5 years relevant experience in real estate development or construction management.

Responsibilities

• General - act as an intermediary between development, construction, accounting and legal to produce financial/cost reporting.
• Ensure compliance to established processes and procedures for all cost processes.
• Reporting - responsible for the projects weekly and monthly cost reporting. This includes the monthly cost report for internal reporting to upper management and external reporting to partners, lenders and tenants.
• Work with development manager, project management and accounting to transforming the estimates or proformas from native format into the cost code structure to be used on the project.
• As the project progresses, maintain the structure of the ACR by ensuring transfers are performed and new cost codes are created to track budget, contracts, allowances, unbought scope and holds.
• Prepare cost analysis and reports containing historical, current, and forecasted information for use by project stakeholders.
• Budgets - maintain a deep understanding of the projects hard and soft cost budget.
• Contingency – report on committed and projected uses of contingency including uses for procurement and exposures.
• Change Events - be able to manage and report on the projects change events log for hard and soft costs.
• Holds – work with the procurement team to understand all Holds created. Track and report on current and anticipated use of Hold dollars.
• Estimates - work in detail with development team, design team and construction team to create and review estimates
• Prepare cash flows and update as required
• Procurement - work with the procurement team to very that bid package budgets are accurate
• Assist in contract close out and ensure all cost data is accurately incorporated into close out process

Education

Bachelor’s degree in Engineering, Construction Management

Job description

Related Midwest is seeking a cost reporting and financial analysis professional to act as an intermediary among development, construction, accounting, and legal teams. You will ensure cost process compliance, oversee weekly and monthly cost reporting, and transform estimates into cost codes for projects in Chicago.

You will manage ACR structures, budgets, contingencies, and holds, while preparing historical, current, and forecasted cost analyses for stakeholders.