What are the responsibilities and job description for the Associate/Vice President, Real Estate Investment and Development position at LCI Development Partners?
Company Description
LCI Development Partners (“LCIDP”) is a privately held real estate investment and development firm established in 2021, focused on multifamily and mixed use development opportunities. Since inception, the firm has completed over $200 million in development starts, including $100 million initiated in 2025, reflecting a period of accelerated growth and active capital deployment.
LCIDP targets institutional quality development projects, generally $50 million , where disciplined underwriting, hands on execution, and thoughtful capital structuring can drive outsized, risk adjusted returns. The firm operates with an owner operator mindset, investing alongside its partners and maintaining direct involvement throughout the full development lifecycle
The firm is currently active across the Upper Midwest, with selective investments in other markets throughout the United States where LCIDP has strong local relationships and conviction. Rather than pursuing scale for its own sake, LCIDP prioritizes control, alignment of incentives, and repeatable execution.
With a lean team structure, LCIDP offers professionals the opportunity to work closely with senior decision makers, gain exposure to GP level economics, and take on meaningful responsibility early in their careers. The platform is designed to reward strong judgment, accountability, and long term value creation.
Role Description
LCIDP is seeking an Associate/Vice President, Real Estate Investment and Development to support the firm’s multifamily and mixed‑use development platform in Chicago, IL. This role will focus on investment underwriting, financial modeling, deal structuring, asset management, and development execution support across ground‑up and value‑add development opportunities.
The Associate/Vice President will work closely with senior team members on projects from initial feasibility through construction and stabilization. This is a hands‑on, analytically intensive role designed for a high‑performing professional who wants exposure to real capital risk, development decision‑making, and GP‑level economics within an entrepreneurial environment.
Key Responsibilities
Investment Analysis & Underwriting
• Build and maintain institutional-quality financial models for multifamily and mixed-use developments
• Analyze site feasibility, zoning assumptions, construction budgets, operating projections, and sales
• Prepare sensitivity analyses and downside cases focused on cost, timing, rents, and capital structure
• Support investment committee materials, internal memoranda, and partner presentations
Development & Execution Support
• Assist in monitoring project budgets and schedules during design and construction
• Track development costs versus underwriting assumptions
• Support coordination with architects, engineers, construction managers, and third party consultants
• Identify and escalate execution risks related to cost overruns, delays, and scope changes
Capital Markets & Structuring
• Support capital stack analysis, including joint venture equity, construction and permanent debt
• Assist with lender underwriting, due diligence, and financing closings
• Analyze development fees, promote structures, and GP risk / return economics
• Prepare analytical materials for capital partners and lenders
Asset Transition & Early Operations
• Assist with lease up modeling and absorption analysis, particularly for multifamily assets.
• Monitor early operating performance versus underwriting.
• Support refinancing or disposition analyses as assets mature.
Firm Support & Special Projects
• Conduct market and submarket research for prospective opportunities.
• Support portfolio analytics and ad hoc strategic initiatives.
• Contribute to improving underwriting templates, assumptions, and internal processes.
Qualifications
• 3–8 years of real estate experience, with a focus on investment analysis, development, or acquisitions
• Demonstrated experience underwriting multifamily and/or mixed use development projects
• Strong understanding of development economics, construction budgets, and operating fundamentals
• Experience supporting projects across multiple stages of the development lifecycle
• Bachelor’s degree required; advanced degree a plus but not required