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- -------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION -----------------------------
FORM 3 WASHINGTON, D.C. 20549 OMB APPROVAL
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INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB Number: 3235-0104
Expires: September 30, 1998
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Estimated average burden
Section 17(a) of the Public Utility Holding Company Act of 1935 or hours per response .... 0.5
(Print or Type Responses) Section 30(f) of the Investment Company Act of 1940 -----------------------------
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1. Name and Address of Reporting Person* 2. Date of Event Re- 4. Issuer Name AND Ticker or Trading Symbol
quiring Statement
Reschke, Michael W. (Month/Day/Year)
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(Last) (First) (Middle) 6/15/98 5. Relationship of Reporting Person(s) 6. If Amendment, Date
----------------------- to Issuer (Check all applicable) of Original
3. IRS or Social Se- X Director X 10% Owner (Month/Day/Year)
c/o The Prime Group, Inc. curity Number of ---- ---- 6/23/98
77 West Wacker Drive, Suite 3900 Reporting Person Officer (give Other (specify ---------------------
- ------------------------------------------------- (Voluntary) title below) below) 7. Individual or
(Street) ---- ---- Joint/Group Filing
(Check Applicable
Line)
--------------------------- Form filed by One
X Reporting Person
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Form filed by
More than One
Reporting Person
Chicago Illinois 60601 ---
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(City) (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial
(Instr. 4) Beneficially Owned Form: Direct Ownership (Instr. 5)
(Instr. 4) (D) or Indirect
(I) (Instr. 5)
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Common Stock 8,206 D
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Common Stock 12,500 I (1)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, SEE Instruction 5(b)(v). SEC 1473 (7-97)
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FORM 3 (Continued) Table II - Derivative Securities Beneficially Owned (E.G., Puts, Calls, Warrants, Options, Convertible
Securities)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) cisable and Underlying Derivative Security sion or ship Beneficial
Expiration (Instr. 4) Exercise Form of Ownership
Date Price of Deriv- (Instr. 5)
(Month/Day/ Deri- ative
Year) vative Security:
-------------------------------------------------- Security Direct
Amount (D) or
Date Expir- or Indirect
Exer- ation Title Number (I)
cisable Date of
Shares (Instr. 5)
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Horizon Group Properties,
Inc. Stock Options (2) (3) 6/15/08 Common Stock 10,000 (4) D
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Horizon Group Properties,
L.P. Common Units 6/15/98 1/1/51 Common Stock 367,731 exchangeable on I (1)
a 1:1 ratio for
Common Stock
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Explanation of Responses:
(1) Owned directly by Prime Group Limited Partnership, of which Mr. M. Reschke is the managing general partner, and Prime Financing
Limited Partnership, Prime Group II, L.P. Prime Group III, L.P., Prime Group IV, L.P., and Prime Group V, L.P., each of which is
an affiliate of Mr. M. Reschke.
(2) Mr. M. Reschke has the right to buy the equity securities subject to the Options.
(3) 3,300, 3,100 and 3,600 Options are exercisable on 6/15/99, 6/15/00 and 6/15/01, respectively.
(4) The Exercise Price will be the average price of the shares for the fifteen consecutive trading days beginning on 6/15/98.
/s/ Michael W. Reschke August 7, 1998
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**Intentional misstatements or omissions of facts constitute Federal **Signature of Reporting Person Date
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
SEE Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number. Page 2
SEC 1473 (7-97)
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