Company Overview

Founded in 1981, The John Buck Company (JBC) has established a track record and reputation as a premier, vertically-integrated real estate operating company focused on major U.S. urban markets.  Since inception, JBC has made principal investments in assets comprising more than $6.7 billion of gross value, and acquired, developed, or redeveloped over 42 million square feet of office, residential and mixed-use properties.

The company has evolved from the developer that transformed Chicago’s Wacker Drive and Michigan Avenue to become a national development, investment, and asset management firm that produces superior returns for their fund investors and capital partners.  In turn, they have utilized their operating platform to provide world-class property management, development, and construction services for their clients.  This position will be located at JBC’s corporate headquarters in Chicago.

Duties and Responsibilities

• Analyze and evaluate rent rolls and operating statements of properties being considered for investment to determine feasibility and valuation
• Maintain a primary focus on residential, office and retail projects – both new construction and existing assets
• Prepare pro forma statements and projections which accurately reflect past history of properties, as well as current and projected future market conditions
• Research, analyze, and evaluate market feasibility for various real estate transactions
• Develop and maintain working relationships with industry professionals
• Assist in writing investment committee memorandums
• Assist in preparation of quarterly investor updates/reporting
• Perform competitive analysis of metrics on existing portfolio and competition
• Participate in due diligence and overall transaction support
• Develop and analyze existing investment models with the ability to create new models
• Underwrite real estate acquisitions including preparation of cash flow projections in excel and Argus and present to key internal decision makers
• Assist in analysis of potential investments and preparation of detailed approval memos used to evaluate investment opportunities
• Understand and develop a market thesis for each project by interfacing with other real estate principals and consultants
• Work closely with other Investment team members, other JBC groups and external parties
• Conduct market research to support assumptions
• Build and maintain comparable sales database related to key markets across the US
• Assist in other projects and requests, as required
• Ability to travel occasionally

Qualifications, Skills & Attributes

• Bachelor’s degree in business, economics, or finance preferred
• One to three years of commercial real estate experience required
• Candidate should be familiar with navigating and creating complex financial models for underwriting commercial real estate properties
• Must understand financial and accounting concepts and be able to apply concepts to financial models
• Strong organizational skills with the ability to prioritize and manage multiple projects in a timely and thorough manner
• Requires advanced knowledge of Excel, Word, PowerPoint, and Argus
• Strong written and verbal communication skills
• Excellent interpersonal skills and team orientation
• Highly motivated individual and demonstrated interest in real estate finance
• Familiarity with real estate finance as well as basic real estate operations, leasing and development concepts
• Knowledge of local commercial real estate markets preferred

Employer’s Rights

This job description does not list all the duties of the job. Incumbents may be asked by their supervisors or managers to perform other duties.  The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either the incumbent or the employer may terminate employment at any time, for any reason.

Apply to careers@tjbc.com

Absolutely no calls from recruiters or staffing agencies

COMPANY OVERVIEW

The John Buck Company was founded in 1981 and has established a track record and reputation as a premier, vertically-integrated real estate investment, development and operating company focused on major U.S. urban markets. Since inception, JBC has made principal investments in assets comprising more than $6.7 million of gross value and acquired, developed, or redeveloped over 42 million square feet of office, multifamily, residential and mixed-use properties.

In addition to developing projects for its own account, The John Buck Company has provided development and construction management services for a variety of clients on mixed-use, office, and residential developments. Select experience includes The Standard, High Line in New York, Roosevelt University’s high-rise campus in Chicago, Blue Cross Blue Shield’s 800,000 SF vertical expansion in Chicago, the redevelopment of the Sears Tower (now Willis Tower), and Virgin Hotels Chicago.

Headquartered in Chicago, JBC has developed, operated, or managed properties in New York, Washington D.C., Philadelphia, Minneapolis, Abu Dhabi, Berlin, and Kuala Lumpur. Currently active in Chicago, San Francisco, and Boulder, Colorado, JBC works diligently to create projects that are environmentally sustainable, profitable, and inviting places to live, work, and play.

SUMMARY

The Residential Property Manager is responsible for the management of one assigned property which totals approximately 250 residential units. Primarily responsible for resident satisfaction and lease compliance to improve customer retention, decrease liabilities, increase leasing and profitability, decrease costs, and decrease management time requirements.

DUTIES AND RESPONSIBILITIES:

Customer Focus

• Understands the property management agreement and ensures client requirements are met as part of daily operations.
• Implements property leasing plan, including achieving market rental rates, conversion ratios, and resident retention goals.
• Establish and maintain property marketing activities, including advertising, website and social media programs. Create innovative marketing plans to reach targeted goals.
• Sets clear and concise directives for property and the asset team to promote innovative solutions to meet or exceed ownership expectations.
• Proactively communicates operational concerns and pending property issues to building owner and Head of Property Management. Communication should be clear, well thought out and accompanied by recommended resolutions.
• Serves as a representative of the building and ownership in dealing with residents, prospective residents, vendors, city, unions and trade associations. Engage in networking activities in the marketplace and with peers.
• Establish an annual customer service action plan based on resident meetings, work order trends, and customer service survey feedback. Foster a property work environment that places a high emphasis on customer service to residents, fellow employees, and clients.
• Create a formal resident contact program that includes regular interaction with residents, both formally and informally. Provide a summary of the meeting to the property team and review applicable action items. Implement a resident program to foster community environment.
•  Provides timely and professional responses to resident requests and inquiries. Ensures operating deficiencies are properly resolved in compliance with lease requirements. Monitors monthly work requests to ensure optimal resident satisfaction levels are achieved.
• Supports the marketing and leasing efforts for all assigned properties. Reviews lease documents for operational accuracy. Understands screening and approval process for new residents.

Financial

• Oversees the preparation of the annual management plan and budget for assigned properties with the established goals and objectives of the owner. Ensures that the property performs to this plan and budget by managing the property’s day-to-day operations. Monitors all operating and capital budgets.
• Ensures that property accounting and financial reporting are administered in a timely fashion and with accuracy. Works with the corporate accounting personnel to establish monthly accounting guidelines, develop high quality forecast analysis, and formulate clear and concise explanations for operational and financial variances.
• Endeavors to maintain or achieve a reduction in operating expenses without impacting the long-term performance of the property.
• Ensures that a process is in place to collect income on an average of 98%of Rent (per the lease) within 7 days of due date and all other items are posted within 45 days. Proactively communicates with the Head of Property Management and Asset Manager any collection issues, including steps taken for resolution.
• Identifies new opportunities to generate additional income.

Operations / Projects

• Responsible for the safety of the building occupants and appearance and preservation of the physical asset. Oversees engineering and maintenance activities and cleaning operations. Institutes and administers the building inspection program and implements procedures to correct deficiencies, if necessary. Ensures an annual formal inspection is completed by mid-year and on-going property inspections are completed by property personnel.
• Administers property apartment turn procedures to ensure timely completion of apartment turn-over based on leasing requirements as well as minimal number of “down” apartments.
• Reviews plans and specifications and assists with the coordination of tenant improvement work for new and renewal non-residential tenants. Manages construction / capital improvement projects at the property level.
• Develops and presents complete, clear and concise analyses and recommendations for all budgeted and unbudgeted projects based on proper bidding parameters. Implements projects on-time and within approved budgets.
• Effectively uses property work order systems to measure property performance including proper response times and billing accuracy.
• Supervises vendors, determining acceptable performance administering contracts, and negotiating and/or resolving issues and disputes.
• Manages contract obligations to ensure the services are completed with the contract scope and cost. Identifies opportunities for cost savings.
• Stays abreast of governmental issues, labor issues, and code issues affecting the property.

People Management

• Hires, manages and trains personnel under his or her management. Settles any employee issues that may arise.
• Conducts regularly scheduled staff meetings and openly and proactively shares departmental information affecting the property and tenants.
• Implements a cross-training program in an effort to develop staff and reduce the need for overtime and temporary help.
• Demonstrates knowledge of, adhere to, and support established HR policy and procedures.
• Ensures a safety conscious work environment including compliance with safety, environmental, and hazardous material policies and related laws and regulations.
• Submits annual “MBO” goals and objectives for all staff members, taking into account individual strengths and weaknesses.
• Ensures job responsibilities and expectations are clearly defined and communicated, work is assigned and distributed appropriately, staff members are trained, and performance issues are addressed immediately.
• Regularly provides formal and informal feedback to staff members and conduct periodic coaching, which includes providing performance feedback, a discussion of strengths, and a discussion of areas for improvement and development. Recognizes employee contributions through formal and informal programs.

MINIMUM EDUCATION AND EXPERIENCE:

Bachelor’s degree required, preferably in real estate management, marketing, or a business-related field. Requires at least five years experience in the property management field. Leasing experience a plus. Requires basic computer skills.

Must understand accounting and financial concepts. Strong organizational, communication, and supervisory skills are essential.

REQUIRED LICENSES, CERTIFICATES OR KNOWLEDGE:

Real estate license in the state in which the property is located is required. Experience with Yardi and RealPage preferred.

WORKING CONDITIONS:

Work is normally performed on-site, in an office environment at the property.

EMPLOYER’S RIGHTS:

This job description does not list all the duties of the job. Incumbents may be asked by their supervisors or managers to perform other duties. The employer has the right to revise this job description at any time. The job description is not a contract for employment, and either the incumbent or the employer may terminate employment at any time, for any reason.

Absolutely no calls from candidates, recruiters or staffing agencies. 

Send all resumes for this position to careers@tjbc.com