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Real Estate Development Jobs in Illinois (NOW HIRING)

Lead complex real estate and economic development projects, including market analysis, highest and best use analysis, fiscal impact modeling, comparative scenario modeling, land use alternatives ...

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Forestar Group Inc. is a residential lot development company focused on delivering desirable ... Forestar Group is currently looking for a Real Estate Analyst-FG . The right candidate will work ...

Vice President, Real Estate

Chicago, IL · On-site

$175K - $275K/yr

Our portfolio spans retail strip centers, gas stations, QSRs, and large-scale mixed-use developments. We're not your typical real estate investment firm. We're strategic operators, acquiring ...

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Real Estate Development information

See Illinois salary details

$52.8K

$99.1K

$157K

How much do real estate development jobs pay per year?

As of Sep 5, 2026, the average yearly pay for real estate development in Illinois is $99,103.00, according to ZipRecruiter salary data. Most workers in this role earn between $72,700.00 and $124,000.00 per year, depending on experience, location, and employer.

What is real estate development?

Real estate development is the process of creating new buildings or renovating existing properties for residential, commercial, or mixed-use purposes. It involves tasks such as acquiring land, securing financing, obtaining permits, overseeing construction, and managing the eventual sale or lease of the property. Developers coordinate with architects, contractors, government agencies, and investors throughout each stage of a project. The goal is to transform raw land or underutilized properties into valuable assets that meet market demand.

What are the qualifications to get a job in real estate development?

The qualifications to get a job in real estate development vary depending on your responsibilities. For investment and development jobs, the most important thing is money, whether it is from personal wealth or investors. Some developers work specifically with municipal governments or community organizations. If you seek investors, you need to have strong financial skills, good negotiation and presentation tactics, and strategic vision. To become a construction or design worker in real estate development, you need to have a bachelor’s degree or credentials from an apprenticeship and several years of work as a commercial or residential contractor. Marketing professionals need a background in PR or real estate.

What are the key skills and qualifications needed to thrive as a real estate developer, and why are they important?

To thrive as a Real Estate Developer, you need strong project management, financial analysis, and market research skills, often supported by a degree in real estate, business, or a related field. Familiarity with financial modeling software, CAD tools, and zoning or permitting systems is typically required. Excellent negotiation, communication, and problem-solving abilities set top developers apart. These skills are crucial for successfully managing complex projects, securing investment, and navigating regulatory environments to deliver profitable developments.

What are some common challenges faced by professionals in real estate development, and how can they be addressed?

Professionals in real estate development often encounter challenges such as navigating complex zoning regulations, securing project financing, and coordinating with a diverse group of stakeholders including architects, contractors, and government agencies. Successfully addressing these challenges requires strong project management skills, effective communication, and a proactive approach to problem-solving. Building a network of reliable partners and staying informed about local market trends can also help mitigate risks and ensure project success.

What is the difference between Real Estate Development vs Real Estate Brokerage?

AspectReal Estate DevelopmentReal Estate Brokerage
Required CredentialsReal estate license, possibly a degree in real estate, finance, or urban planningReal estate license, sales certification
Work EnvironmentProject sites, offices, planning meetingsReal estate offices, property showings, client meetings
Industry UsageInvolved in planning, financing, and constructing new propertiesFacilitates property sales and leasing between buyers and sellers

Real estate development focuses on creating new properties from planning to construction, while real estate brokerage centers on selling and leasing existing properties. Both roles require real estate licenses but differ significantly in daily activities and project involvement.

Do real estate developers make a lot of money?

Real estate developers can earn high incomes, especially when managing large projects or successful developments, but earnings vary widely based on experience, project size, location, and market conditions. Successful developers often require strong financial skills, market knowledge, and access to capital. Income potential increases with experience and a proven track record in the industry.

Is real estate development a good career?

Real estate development is a viable career that involves managing the planning, financing, and construction of property projects. Success requires strong project management skills, knowledge of market trends, and often a background in finance, architecture, or urban planning. It can be financially rewarding but also involves significant risk and long-term commitment.

What exactly do real estate developers do?

Real estate developers plan, design, and oversee the development of new properties or the renovation of existing ones, including residential, commercial, or industrial projects. They coordinate with architects, contractors, and government agencies, secure financing, and manage project timelines to bring developments from concept to completion.

What are the most commonly searched types of Real Estate Development jobs in Illinois?

The most popular types of Real Estate Development jobs in Illinois are:

What cities in Illinois are hiring for Real Estate Development jobs?

Cities in Illinois with the most Real Estate Development job openings:

Infographic showing various Real Estate Development job openings in Illinois as of August 2026, with employment types broken down into 1% As Needed, 65% Full Time, 32% Part Time, and 2% Contract. Highlights an 91% Physical, 3% Hybrid, and 6% Remote job distribution, with an average salary of $99,103 per year, or $47.6 per hour.

Director of Real Estate Economics

STV

Chicago, IL • On-site

$179K - $205K/yr

Full-time

Medical, Dental, Vision, Life, Retirement, PTO

Posted 2 days ago

New


Key responsibilities

  • Lead complex real estate and economic development projects, including market analysis, highest and best use analysis, fiscal impact modeling, and economic impact analysis.

  • Manage multidisciplinary teams delivering land use, real estate, and infrastructure strategies, and advise clients on development feasibility, zoning, regulatory frameworks, and policy considerations.

  • Conduct financial analysis such as pro forma modeling, lead market research and demand analysis, develop public private partnership strategies, and prepare reports and presentations for senior stakeholders and clients.


Job description

STV is actively seeking a highly experienced Lead/Director Real Estate Economist to join our Infrastructure and Grants Advisory team

STV's Infrastructure Economics group is a multidisciplinary team with staff across the U.S. We work closely with engineering, architectural and planning disciplines to conduct applied economic analyses that support project development, policy, and investment decision-making. The successful candidate will serve as both a technical expert and mentor, leading business development and program management efforts, guiding complex assignments, managing teams, and engaging directly with clients.

The responsibilities of this position include, but are not limited to:

  • Lead complex real estate and economic development projects, including market analysis, highest and best use analysis, fiscal impact modeling, comparative scenario modeling, land use alternatives, economic impact analysis, and pro forma development modeling and sensitivity analysis.

  • Manage multidisciplinary teams delivering land use, real estate, and infrastructure strategies

  • Advise clients on development feasibility, zoning, regulatory frameworks, and policy considerations

  • Conduct and oversee financial analysis including pro forma modeling and investment strategy evaluation

  • Lead market research, demand analysis, and business case development for transit-oriented development and infrastructure projects

  • Develop public private partnership strategies and innovative funding approaches for real estate and infrastructure investments

  • Prepare and present high quality reports, presentations, and executive briefings to senior stakeholders and clients

  • Lead complex economic projects, including benefit-cost analyses, socioeconomic assessments, traffic and revenue forecasts, policy and technology evaluations

  • Support and lead business development efforts, including proposal writing and client engagement

  • Mentor and develop junior staff while fostering collaboration within interdisciplinary teams

  • Represent STV through thought leadership, industry engagement, and client advisory activities

Minimum Requirements

  • Master's degree in economics, statistics, business, urban planning, real estate development, or a related field.

  • 15-20 years of professional experience in in real estate economics, land use planning, economic development, or related consulting fields.

  • Demonstrated experience managing complex real estate or economic development projects and leading multidisciplinary teams.

  • Strong client facing experience and ability to advise senior decision makers.

  • Advanced analytical skills, including financial modeling, market analysis, impact fee studies, and economic impact evaluation.

  • Ability to translate technical findings into clear, decision-oriented narratives and board-ready deliverables.

  • Advanced spreadsheet and data management skills (MS Excel); strong command of MS Office (Word, PowerPoint).

  • Excellent written and verbal communication skills, including preparation of client ready deliverables.

  • Proven leadership, team management, and mentoring capability.

Preferred Qualifications

  • Expertise in transit-oriented development, joint development, or infrastructure related real estate strategy.

  • Familiarity with development feasibility, revenue streams, infrastructure cost allocation, and marginal cost approaches.

  • Experience with public private partnerships and large scale development programs.

  • Knowledge of public financing tools, local government budgeting and fiscal structures, zoning, land use entitlement processes, and regulatory environments.

  • Experience developing financial models and evaluating investment feasibility for complex projects.

  • Familiarity with grant funded infrastructure programs and alignment of development strategy with funding opportunities.

  • Experience developing benefit-cost analysis models and micro-econometric studies with large datasets.

  • Demonstrated business development experience, including proposal preparation and client relationship management.

  • Professional recognition through publications, presentations, or leadership in industry organizations.

Compensation Range:

$179,925.15 - $205,628.74


STV offers the following benefits Health insurance, including an option with a Health Savings Account Dental insurance Vision insurance Flexible Spending Accounts (Healthcare, Dependent Care and Transit and Parking where applicable) Disability insurance Life Insurance and Accidental Death & Dismemberment 401(k) Plan Retirement Counseling Employee Assistance Program Paid Time Off Paid Holidays Back-Up Dependent Care Parental Leave Continuing Education Program Professional Licensure and Society Memberships


STV is committed to paying all of its employees in a fair, equitable, and transparent manner. The listed pay range is STV's good-faith salary estimate for this position. Please note that the final salary offered for this position may be outside of this published range based on many factors, including but not limited to geography, education, experience, and/or certifications.


Not sure this role is the perfect match? We encourage you to apply if STV's work and values resonate with you. We know great candidates don't always meet every qualification, and research shows women and people of color are less likely to apply unless they do. At STV, we believe strong talent comes from a wide range of backgrounds, and your skills and experience may align with this or another opportunity as we continue to grow.


STV logo

About STV

Sourced by ZipRecruiter

STV is a leading provider of professional and technical services operating within the design and construction industry. Headquartered in New York, NY, the firm makes a great difference in the field of infrastructure, transportation, building facilities, communications, energy, and other related industries. Responsible for some of the most renowned design projects in the U.S., STV integrates architecture, engineering, interior design, and construction management services. This multi-discipline company was founded in 1912 and has been demonstrating a constant commitment to excellence, innovation, and technology since its inception.

Industry

Architectural services and construction

Company size

1,001 - 5,000 Employees

Headquarters location

New York, NY, US