GO BEYOND THE IVY
Our business is a team sport built on creating and delivering memorable experiences around Cubs baseball and other live events.
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JOB TITLE: Associate, Asset Management & Investments DEPARTMENT: Marquee Development ORGANIZATION: Marquee Development REPORTS TO: SVP of Asset Management and Investments LOCATION: Chicago, IL FLSA STATUS: Exempt COMPENSATION: $110,000 - $130,000 base salary USD and eligible for discretionary bonus plan
BEING PART OF THE TEAM
Our business is a team sport that began on a field with baseballs and bats and has evolved into one of the most recognizable brands in sports and entertainment through Cubs baseball and live events. Our success is driven by our people, who work to create and inspire change in an engaging, collaborative and inclusive environment. As a team, we continue to build a culture on and off the field that delivers unforgettable experiences for one another, our fans and community. In support of that effort, we expect associates to work primarily in our office. Are you ready to be part of it?
OUR STORY
MARQUEE DEVELOPMENT is a full-service real estate firm that specializes in mixed-use sports and entertainment districts. We strategically manage every aspect of a sports-adjacent mixed-use development with a best-in-class ability to curate the experience for a team, fans and community. By bringing a sports-operational mindset to traditional real estate development, we focus on the critical integration of team operations and real estate to ensure the experience amplifies the brand of the district, while complementing and protecting the team brand to maximize long-term franchise value.
HOW YOU’LL CONTRIBUTE:
Associate of Asset Management and Investments will support underwriting, financial modeling, fund management and analytics, research, investment committee materials, and technology-enabled workflow development. The individual will work closely with the Associate Director of Investments and the SVP of Asset Management and Investments to evaluate development opportunities, maintain project and fund models, support asset management, prepare investment and capital committee materials, support RFPs, and analyze portfolio and market information. The associate will combine real estate investment judgment with strong analytical, data, and technology capabilities. The individual will also identify opportunities to automate and standardize underwriting, research, reporting, and investment processes without compromising accuracy, confidentiality, or professional judgment. The position will report to the SVP of Asset Management and Investments.
THE DAY-TO-DAY:
Investment Underwriting and Financial Modeling
- Develop and maintain financial models for mixed-use developments, joint ventures, financings, recapitalizations, and dispositions.
- Analyze project- and fund-level returns, including IRR, equity multiple, cash-on-cash return, development yield, and return on cost.
- Underwrite projects involving retail, hospitality, residential, office, entertainment, parking, infrastructure, and sports-adjacent uses.
- Model lease-up, operating projections, capital structures, financing terms, and exit scenarios.
- Perform sensitivity analyses, downside cases, and stress testing.
- Review third-party models, appraisals, market studies, operating forecasts, and development budgets.
- Identify unsupported assumptions, inconsistencies, risks, and gaps within investment analyses.
- Maintain high standards for model accuracy, transparency, documentation, and auditability.
- Develop and maintain waterfall analyses that model promote structures, preferred returns, catch-up provisions, and sponsor and investor distributions across a range of performance scenarios.
Fund and Portfolio Analytics
- Support the development and maintenance of the fund model.
- Model capital deployment, investment pacing, management fees, expenses, cash flows, distributions, financing activity, and investor returns.
- Evaluate investment concentration, diversification, liquidity, risk, and contribution to overall fund returns.
- Prepare portfolio analyses covering deployment, realized and unrealized performance, remaining commitments, valuations, and projected exits.
- Maintain consistency between project underwriting, asset management forecasts, and the consolidated fund model.
- Develop dashboards and analytical tools providing visibility into performance, risk, and capital requirements.
- Support quarterly forecasting, valuation, and investor reporting processes.
Investment and Capital Committee Support
- Prepare financial analyses, return summaries, sensitivity tables, capital structures, risk assessments, and supporting exhibits.
- Work with development and investment professionals to convert project information into clear decision materials.
- Maintain consistency between committee presentations, financial models, underwriting memoranda, and source materials.
- Track committee questions, approvals, conditions, and follow-up requirements.
- Update analyses as assumptions, deal terms, financing structures, or development plans change.
- Compare actual and forecast performance against original underwriting.
- Maintain an organized archive of committee materials, approvals, and supporting analyses.
Asset Management
- Implement and monitor asset-level business plans in coordination with property managers, operating partners, leasing teams, lenders, and other stakeholders.
- Lead the annual budgeting and reforecasting process for individual assets, including operating assumptions, capital expenditures, leasing costs, and funding requirements.
- Compare actual and forecast asset performance against approved budgets and original underwriting, identify material variances, and recommend corrective actions.
- Prepare and maintain asset-level valuations using current operating performance, leasing assumptions, capital plans, market data, capitalization rates, discount rates, and projected cash flows.
- Maintain debt and covenant tracking schedules covering compliance tests, reporting obligations, reserve requirements, maturity dates, extension options, interest-rate exposure, and lender deliverables.
- Evaluate leasing proposals, renewals, amendments, and terminations based on rent, concessions, tenant-improvement allowances, leasing commissions, credit considerations, and asset-level returns.
- Monitor occupancy, lease-up, lease expirations, tenant rollover, and leasing pipeline activity, and assess their impact on cash flow and asset value.
- Support refinancing, recapitalization, hold/sell, and disposition decisions based on current asset performance, business-plan execution, capital needs, and market conditions.
Technology, AI, and Model Governance
- Identify recurring investment activities that can be standardized, streamlined, or automated.
- Help implement AI-enabled workflows for research, document review, reporting, data extraction, variance analysis, and presentations.
- Develop tools that reduce manual entry and improve the consistency and speed of investment analysis.
- Establish controls for the use of AI in underwriting and investment decision-making.
- Support the firm’s AI task force and prioritize practical use cases with measurable business value.
- Maintain approved underwriting templates and a centralized model library.
- Implement quality-control checks and improve model usability, transparency, and backup coverage.
- Support a reliable source of truth for investment, fund, and portfolio data.
WHAT YOU’LL BRING:
- Bachelor’s degree in Finance, Real Estate, Accounting, Economics, Business, Data Analytics, or a related field. MBA preferred.
- Approximately 5+ years of experience in real estate private equity, acquisitions, development, investment banking, asset management, transaction advisory, or valuation.
- Strong experience building and reviewing complex real estate financial models.
- Understanding of development underwriting, acquisitions, joint ventures, debt financing, and fund-level economics.
- Experience with mixed-use, hospitality, retail, residential, office, entertainment, or sports-adjacent real estate preferred.
- Advanced proficiency in Excel and PowerPoint.
- Experience preparing investment committee materials, RFP responses, underwriting memoranda, or transaction analyses.
- Ability to review transaction documents from a financial and commercial perspective.
- Strong research, analytical, communication, and problem-solving skills.
- High attention to detail and a commitment to model accuracy.
- Experience with business intelligence, or AI-enabled investment tools preferred.
- Strong judgment regarding confidentiality, data controls, and the appropriate use of AI.
- Ability to manage multiple transactions and deadlines in a fast-paced environment.
- Collaborative working style and willingness to document and share analytical processes.
- Demonstrated reputation for accuracy, intellectual curiosity, responsiveness, and execution.
TOTAL REWARDS:
- On-site parking
- Transit benefits
- Paid time off: Personal, Sick, Vacation Time, Office Holidays & Winter Break
- Flexible work arrangement
- Casual work attire environment
- Complimentary Meal & beverage plan
- Access to campus wide Wrigley Field events & pre-sales
- 401K Plan Employee Contribution & Employer Match
- Benefit Plans: Medical, Dental, Vision & Life Insurance
- Health & Wellness engagement & programming
- Variety of associate special events, volunteer opportunities and partnership discounts
- Monthly allotment for internal rewards & recognition platform
- Complimentary access to EV charging stations
- This job posting includes the anticipated compensation, which reflects the hourly rate or salary range the Chicago Cubs and its related parties are considering for this role in the specified location(s) as of the posting date. Where anticipated compensation is a salary range, the actual base salary offered within that range will be reflective of the candidate’s skills and experience.
The Chicago Cubs and its related parties embrace diversity and are committed to building a team that represents all communities. We hold ourselves accountable to include new and different voices in our organization. Everyone is welcome here, and we celebrate what makes each of us unique.
Response Expectations:
Due to the overwhelming number of applications we receive, we unfortunately may not be able to respond in person to each applicant. However, we can assure you that you will receive an email confirmation when you apply as well as additional email notifications whether you are selected to move forward for the position or not. Please note, we keep all resumes on file and will contact you should we wish to schedule an interview with you.
The Chicago Cubs and its affiliates are an Equal Opportunity Employer committed to inclusion and employing a diverse workforce. All applicants will receive consideration without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, gender expression, veteran status, disability, or other legally protected characteristics.
