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Real Estate Receiver

Friedman Management Company • Chicago, IL • 1d ago

Job Details

Level

Experienced

Job Location

Chicago Metropolitan Area - Chicago, IL

Position Type

Full Time

Education Level

4 Year Degree

Job Category

Real Estate

Description

Job Title: Real Estate ReceiverLocation:Chicagoland

Overview:We are seeking a highly organized and experiencedReal Estate Receiverto oversee the management, maintenance, and disposition of distressed or defaulted properties. The ideal candidate will possess expertise in real estate management, legal compliance, financial analysis, and asset preservation. This position is responsible for taking possession of properties under court-appointed receivership and ensuring the protection of stakeholder interests until legal matters are resolved.

Roles and Responsibilities

Property Oversight & Management

Take control of real estate assets as appointed by the court or lender, ensuring the property is secure, maintained, and operational.

Oversee property operations including maintenance, repairs, and improvements to preserve the asset's value.

Supervise third-party vendors and contractors to ensure timely and quality completion of work.

Financial Management

Conduct financial assessments, including review of financial statements, accounting records, budgets, and cash flows.

Develop and implement budgets for ongoing property operations and capital improvements.

Oversee collection and proper allocation of rents and other income.

Leasing and Tenant Relations

Manage leasing activities for tenant-occupied properties.

Review and renew leases, resolve tenant disputes, and ensure lease compliance.

Legal and Compliance

Ensure compliance with court orders, regulatory guidelines, and all applicable legal requirements.

Collaborate with legal counsel on litigation, disputes, and legal matters involving the property or tenants.

Ensure adherence to local, state, and federal laws (e.g., health and safety codes).

Stakeholder Reporting & Communication

Provide regular reports to courts, lenders, and involved parties on property status, finances, and issues.

Keep stakeholders informed of developments such as maintenance needs, tenant concerns, and financial performance.

Risk Management

Identify risks associated with the property (e.g., damage, tenant default, liability).

Implement risk mitigation strategies.

Ensure appropriate insurance coverage and handle related claims or disputes.

Asset Disposition

Coordinate the sale or transfer of the property as needed, ensuring legal compliance and maximizing value for stakeholders.

Oversee property marketing efforts and broker engagement.

Team Leadership & Coordination

Supervise on-site staff, contractors, and third-party property management teams.

Collaborate with attorneys, accountants, real estate brokers, and other professionals supporting the receivership.

Qualifications

Education

Bachelor's degree in Real Estate, Business Administration, Finance, or a related field.

Law degree or relevant certifications (e.g., CCIM, CPM) preferred.

Experience

Minimum 5-7 years of experience in real estate management, asset management, or commercial property management.

Experience with distressed, defaulted, or foreclosed properties is strongly preferred.

Skills

Solid knowledge of real estate law, foreclosure, and receivership processes.

Strong financial skills including budget creation and cash flow management.

Excellent negotiation, communication, and problem-solving skills.

Ability to work independently and make critical decisions under pressure.

Proficiency with property management and financial software tools.

Personal Attributes

Detail-oriented with exceptional organizational and time-management abilities.

Strong leadership skills and experience managing teams and external stakeholders.

Proactive, responsible, and professional in high-pressure situations.

What We Offer

We believe in supporting our team members with both professional growth and a strong workplace culture. Our benefits include:

Competitive base salary

Full benefits and a 401(k) with company match

Continuing education reimbursement

Charitable initiatives that support our communities

Referral bonuses for new employees and business leads

Training seminars for leadership and professional development

Branded Friedman swag

Working Conditions

Location:Primarily office-based with occasional property visits.

Hours:Flexible, with potential evening or weekend hours based on needs.

Travel:May be required depending on property locations.

We are looking for an individual who can maintain control and stability in distressed asset situations while ensuring that all parties' interests are protected throughout the receivership process. If you have a strong background in real estate, asset management, and legal compliance-and are ready for the challenge of managing real estate under receivership-we encourage you to apply.

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