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Last updated: April 27, 2024
Real Estate Development Director Salary
in Chicago, Illinois
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$165,059 (USD)
Average Salary
$79/hr
Average Hourly
$9,953
Average Bonus
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Last updated: April 27, 2024
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Salary Recap
The average pay for a Real Estate Development Director is $165,059 a year and $79 an hour in Chicago, Illinois, United States. The average salary range for a Real Estate Development Director is between $113,561 and $201,537. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in Chicago, Illinois.
ERI's compensation data are based on salary surveys conducted and researched by ERI. Cost of labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc.
Find actuarial salary survey data and benchmark salary and pay.
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Salary Potential
Salary Potential
Estimated salary in 2029:
$185,405
5 Year Change:
12 %
Shift Differentials
Shift Differentials
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Based on the average salary in the United States, if your pay differential is 10%, your pay will increase by $7.94/hour
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Shift differentials are used to adjust the compensation of an employee due to the time of day or the day of the week that the employee worked.
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About Chicago, Illinois
Chicago Cost of Living Score:
Description:
Chicago is the most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388 in the 2020 census, it is the third-most populous city in the United States after New York City and Los Angeles. As the seat of Cook County, the second-most populous county in the U.S., Chicago is the center of the Chicago metropolitan area, often colloquially called "Chicagoland" and home to 9.6 million residents.
Located on the shore of Lake Michigan, Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed. It grew rapidly...
Job Summary
Description:
- Plans the construction of new developments.
- Oversees the daily operations of a development project and supervises the activities of real estate development managers.
- Visits and evaluates geographic sites to be developed for new use as residential or commercial development.
- Identifies land or existing buildings available for purchase and determines the feasibility of development.
- Heads the governmental approval process to obtain project permits and entitle properties.
- Transitions development projects from acquisition to construction and delivery phase.
- Sells or leases developed real estate properties.
- Performs market and financial analyses, creates Pro-forma models, establishes a budget for construction, and secures public and private financial sources for the project.
Real Estate Development Director Job Listings for
No listings found
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Salary Recap
The average pay for a Real Estate Development Director is $165,059 a year and $79 an hour in Chicago, Illinois, United States. The average salary range for a Real Estate Development Director is between $113,561 and $201,537. This compensation analysis is based on salary survey data collected directly from employers and anonymous employees in Chicago, Illinois.
ERI's compensation data are based on salary surveys conducted and researched by ERI. Cost of labor data in the Assessor Series are based on actual housing sales data from commercially available sources, plus rental rates, gasoline prices, consumables, medical care premium costs, property taxes, effective income tax rates, etc.
Find actuarial salary survey data and benchmark salary and pay.
Powered by ERI's Database
Who We Are
ERI Economic Research Institute compiles the best salary, cost-of-living, and executive compensation survey data available.
View our ProductsJob Statistics
Real Estate Development Director Job Prevalence in the United States
Job family: Property, Real Estate, and Community Association Managers
Job family population: 261,120
Estimated population of Real Estate Development Director jobs: 13,187
Rate of error: 1.3%
Take the guess work out of setting pay
Determine competitive salary levels, compare employee compensation with market benchmarks, and get instant access to reliable salary survey data online.
About Chicago, Illinois
Chicago Cost of Living Score:
Description:
Chicago is the most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388 in the 2020 census, it is the third-most populous city in the United States after New York City and Los Angeles. As the seat of Cook County, the second-most populous county in the U.S., Chicago is the center of the Chicago metropolitan area, often colloquially called "Chicagoland" and home to 9.6 million residents.
Located on the shore of Lake Michigan, Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed. It grew rapidly...
Job Summary
Description:
- Plans the construction of new developments.
- Oversees the daily operations of a development project and supervises the activities of real estate development managers.
- Visits and evaluates geographic sites to be developed for new use as residential or commercial development.
- Identifies land or existing buildings available for purchase and determines the feasibility of development.
- Heads the governmental approval process to obtain project permits and entitle properties.
- Transitions development projects from acquisition to construction and delivery phase.
- Sells or leases developed real estate properties.
- Performs market and financial analyses, creates Pro-forma models, establishes a budget for construction, and secures public and private financial sources for the project.
Real Estate Development Director Job Listings for
No listings found
Who We Are
ERI Economic Research Institute compiles the best salary, cost-of-living, and executive compensation survey data available.
View our ProductsTake the guess work out of setting pay
Determine competitive salary levels, compare employee compensation with market benchmarks, and get instant access to reliable salary survey data online.
You May Also Like
White Papers
National Compensation Forecast April 2024
Review compensation trends and get guidance on expected total salary increases for the upcoming year with ERI's National Compensation Forecast.
Read More
Planning Compensation Incentives That Maximize Workforce Engagement
Improve employee engagement and performance by implementing compensation incentive plans into your strategy.
Read More
Planning Global Compensation Budgets for 2024 - March Updated
Learn about global compensation trends and salary increases for 2024, so you can make more informed salary planning decisions.
Read More