U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
() Form 3 Holdings Reported
() Form 4 Transactions Reported
1. Name and Address of Reporting Person
Braun, Raymond M.
1245 Borders
Palatine, Il USA 60067
2. Issuer Name and Ticker or Trading Symbol
Great Lakes REIT, Inc. GL
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/31/97
If Amendment, Date of Original (Month/Year)
Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner (x) Officer (give title below)
( ) Other (specify below)
Senior Vice President
<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
|Transaction| or Disposed of (D) | Securities |ect | Beneficial Ownership |
|Date |Code| | Beneficially |(D)or | |
| | | | A/| | Owned at |Indir | |
| | | Amount | D | Price | End of Year |ect(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
<CAPTION>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer |Date |Code| rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise Pr | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|ice of | | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity | | | Amount | |ble | | | |Year |(I)| |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Stock option (right to |19.625 |12/31|A |14000 | | [1] |12/31|Common stock|14000 |19.625 | |D | |
buy) | |/97 | | | | |/07 | | | | | | |
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</TABLE>
Explanation of Responses:
1. On December 31, 1997, options to purchase shares were granted. One-third of
the options vest annually on December 31, 1998, 1999 and 2000.
SIGNATURE OR REPORTING PERSON
DATE
Additional Participants in Group Filing
May, Richard A.
33 Brook Lane
Palos Park, IL 60464
CIK Number:
CCC Number:
Director (x) 10% Owner ( )
Officer (x) Other ( )
Chairman/Chief Executive Off.
Rasley, Richard L.
1219 Forest Avenue
Oak Park, IL 60302
CIK Number:
CCC Number:
Director (x) 10% Owner ( )
Officer (x) Other ( )
Executive Vice President
Brown, Brett A.
2134 Green Bridge Lane
Hanover Park, IL 60103
CIK Number:
CCC Number:
Director ( ) 10% Owner ( )
Officer (x) Other ( )
Vice President
Hicks, James
1247 Oxford Road
Deerfield, IL 60015
CIK Number:
CCC Number:
Director ( ) 10% Owner ( )
Officer (x) Other ( )
Senior Vice President
Scurto, Edith M.
613 Linden Drive
Carol Stream, IL 60188
CIK Number:
CCC Number:
Director ( ) 10% Owner ( )
Officer (x) Other ( )
Senior Vice President
Mills, Kim S.
7N071 Glen Road
Medinah, IL 60157
CIK Number:
CCC Number:
Director ( ) 10% Owner ( )
Officer (x) Other ( )
Senior Vice President
Hunt, Patrick R.
953 Romona Road
Wilmette, IL 60091
CIK Number:
CCC Number:
Director ( ) 10% Owner ( )
Officer (x) Other ( )
President/Chief Operating Off.
