CORPORATE PROPERTY INVESTORS INC
3, 1998-09-25
REAL ESTATE INVESTMENT TRUSTS
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                     UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940


================================================================================
1. Name and Address of Reporting Person*

Mautner,                Hans                      C.
- --------------------------------------------------------------------------------
   (Last)               (First)                 (Middle)

1088 Park Avenue
- --------------------------------------------------------------------------------
                                    (Street)

New York,                          New York                       10028
- --------------------------------------------------------------------------------
   (City)                           (State)                       (Zip)


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2. Date of Event Requiring Statement (Month/Day/Year)

   09/24/98

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3. IRS or Social Security Number of Reporting Person (Voluntary)


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4. Issuer Name and Ticker or Trading Symbol

   Simon Property Group, Inc. paired with SPG Realty Consultants, Inc. (SPG)
================================================================================
5. Relationship of Reporting Person to Issuer
   (Check all applicable)

   [ X ]   Director                             [   ]   10% Owner
   [   ]   Officer (give title below)           [   ]   Other (specify below)



      --------------------------------------------------------------------

================================================================================
6. If Amendment, Date of Original (Month/Year)


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7. Individual or Joint/Group Filing  (Check applicable line) 

   [ X ] Form Filed by One Reporting Person

   [   ] Form Filed by More than One Reporting Person

================================================================================
             Table I -- Non-Derivative Securities Beneficially Owned
================================================================================
<TABLE>
<CAPTION>

                                                                 3. Ownership Form:
                                      2. Amount of Securities       Direct (D) or  
1. Title of Security                     Beneficially Owned         Indirect (I)       4. Nature of Indirect Beneficial Ownership
   (Instr. 4)                            (Instr. 4)                 (Instr. 5)            (Instr.5)                              
- ------------------------------------------------------------------------------------------------------------------------------------
   <S>                                   <C>                         <C>                  <C>

   Common Stock of Simon Property        289,620                     D
   Group, Inc. paired with a 
   beneficial interest in Common Stock
   of SPG Realty Consultants, Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
   Series B Convertible Preferred         26,432                     D
   Stock of Simon Property Group, Inc.
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

====================================================================================================================================
</TABLE>

*    If the Form is filed by more than one  Reporting  Person,  see  Instruction
     5(b)(v)

Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.

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 control number.


                                  Page 1 of 2


<PAGE>


FORM 3 (continued)

              Table II -- Derivative Securities Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                        5. Owner-
                                                    3. Title and Amount of Securities                      ship
                                                       Underlying Derivative Security                      Form of
                         2. Date Exercisable           (Instr. 4)                                          Derivative
                            and Expiration Date     ---------------------------------    4. Conver-        Security:
                            (Month/Day/Year)                               Amount           sion or        Direct      6. Nature of
                         ----------------------                            or               Exercise       (D) or         Indirect
                         Date       Expira-                                Number           Price of       Indirect       Beneficial
1. Title of Derivative   Exer-      tion                                   of               Derivative     (I)            Ownership
   Security (Instr. 4)   cisable    Date            Title                  Shares           Security       (Instr.5)      (Instr. 5)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                      <C>        <C>             <C>                    <C>           <C>            <C>            <C>

Stock Option             9/24/99    9/24/08         Common Stock of        79,166-2/3    Fair market    D
(right to buy)                                      Simon Property                       value of
                                                    Group, Inc. paired                   Common Stock
                                                    with a beneficial                    of Simon
                                                    interest in Common                   Property Group,
                                                    Stock of SPG Realty                  Inc. on 9/24/98
                                                    Consultants, Inc.
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             9/24/00    9/24/08         Common Stock of        79,166-2/3    Fair market    D
(right to buy)                                      Simon Property                       value of
                                                    Group, Inc. paired                   Common Stock
                                                    with a beneficial                    of Simon
                                                    interest in Common                   Property Group,
                                                    Stock of SPG Realty                  Inc. on 9/24/98
                                                    Consultants, Inc.

- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             9/24/01    9/24/08         Common Stock of        79,166-2/3    Fair market    D
(right to buy)                                      Simon Property                       value of
                                                    Group, Inc. paired                   Common Stock
                                                    with a beneficial                    of Simon
                                                    interest in Common                   Property Group,
                                                    Stock of SPG Realty                  Inc. on 9/24/98
                                                    Consultants, Inc.

- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             Options    12/9/03         Common Stock of        250,956.78    26.08          D
(right to buy)           vested                     Simon Property
                         25% per annum              Group, Inc. paired
                         beginning 12/9/94          with a beneficial
                         and all options            interest in Common
                         became fully               Stock of SPG Realty
                         vested and                 Consultants, Inc.
                         exercisable on
                         12/9/97

====================================================================================================================================
</TABLE>
Explanation of Responses:




  /s/ Hans C. Mautner                                    September 24, 1998
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date

**   Intentional misstatements or omissions of facts constitute Federal 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 provided 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 control number.



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