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Sr Development Cost Accountant at ERP Operating Limited Partnership

Posted in General Business 30+ days ago.

Type: Full-Time
Location: Chicago, Illinois

Job Description:

We are currently seeking an organized and analytical Sr Development Cost Accountant to join our Development Accounting  team in our Chicago office. With limited guidance from the Manager, Development Accounting, the Senior Development Cost Accountant will be responsible for the accounting functions related to joint venture projects with various partners. This role will also be responsible for maintaining costs and budgets for multiple construction projects ensuring they are in line with reporting requirements. The Sr. Development Cost Accountant will work hand in hand with the field personnel and joint venture partners in order to ensure accurate and timely reporting of each project, and will perform accounting functions that coincide with job cost functions. 



  • Organized, Flexible, and Adaptable. You have a keen eye for detail and pride yourself on delivering quality work. You multitask well, re-prioritize accordingly, and meet deadlines consistently. You keep your cool during stressful situations, remain resilient, and quickly find solutions in order to meet the changing needs and priorities of the business.

  • A Collaborator and Trusted Team Player. You enjoy partnering with others —whether internal or external— and build constructive working relationships that foster cooperation in order to get work done and deliver great results. You are united with teammates and follow through on commitments. 

  • A People Person. Building professional and high quality relationships with vendors and area businesses comes naturally to you.  

  • Creative. You like thinking outside the box to come up with smart solutions to new challenges, and you embrace the opportunity to live in the gray. 

  • A Strong Communicator. Your writing and speaking skills are clear and effective, helping you connect well with others. Through your past experience, you’ve also built skills that help you effectively persuade and gain the support of others.

  • Motivated. You invest extra energy to reach your goals.

  • Energetic and Positive. You are an outgoing, gregarious brand ambassador who motivates and excites others to elevate their performance.



  • Prepares and reviews partner financial and draw packages for various joint venture projects. Collaborate with partner financial teams on to ensure accuracy and compliance with GAAP.

  • Monitor project actual costs to date against development budgets and prepare regular reporting of variances for multiple Development construction projects.   

  • Coordinate and analyze development accounting documents including, financial reports, general ledgers, contracts, change orders, partnership agreements, etc.

  • Review and obtain approvals for regular construction draw documents within the scope of the Development business area. Construction draws include general contractor applications for payment, construction loan draws, and joint venture partner capital requests.

  • Responsible for the preparation, accuracy, and distribution of job cost accounting reports for multiple Development construction projects on a monthly and quarterly basis.

  • Prepare job cost journal entries and review journal entries prepared by staff accountant. Post journal entries after appropriate approvals have been obtained.

  • Act as liaison between Development group, outside Controllers, and Corporate accounting department.

  • Assist Development Controller with documenting and maintaining process procedures within the department.

  • Assists with audit engagements related EQR joint venture agreements.

  • Collaborate with Accounts Payable in order to ensure accuracy of all invoices.

  • Assist in training incoming Development Cost Accountants.

  • Prepares and reviews various monthly and quarterly financial reporting work papers.

  • Represents the Company in a professional manner at all times. Consistently maintains a professional, courteous attitude when dealing with residents, coworkers and the general public.

  • Completes various special projects as needed.


  • Bachelor’s Degree or above required with concentration in Accounting. CPA preferred.

  • Minimum of 3 years accounting experience required, and construction related experience is preferred but not required. 

  • Has knowledge of commonly used concepts, practices, and procedures within the Construction Job Costing field, including Lien Releases, Job Cost Reports, Draws, AIA reports and documents.  

  • Proficient in Word and Excel and familiar with MRI or other job cost software and a basic understanding of accounts payable procedure.  

  • Must be detail-oriented with excellent analytical and communication skills.  

  • Thorough understanding of GAAP reporting requirements and proficiency with financial statements. 

  • Basic knowledge of the construction industry and how it relates to the accounting profession.

  • Please click here to learn more about Equity Residential’s Covid-19 Vaccination Requirements (Haga clic aquí para obtener más información sobre los requisitos de vacunación Covid-19 de Equity Residential).


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