UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. One)
Essex Property Trust, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
297178105
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(CUSIP Number)
*The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form with
respect to the subject class of securities, and for any
subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this
cover page shall not be deemed to be "filed" for the
purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
CUSIP NO. 297178105<PAGE>
1 NAME OF REPORTING PERSON
Heitman/PRA Securities Advisors, Inc.
IRS ID# 36-3988233
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ----
(b) X
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Chicago, Illinois
5 SOLE VOTING POWER
NUMBER OF SHARES 765,800
BENEFICIALLY OWNED
BY EACH REPORTING 6 SHARED VOTING POWER
PERSON WITH 0
7 SOLE DISPOSITIVE POWER
797,400
8 SHARED DISPOSITIVE
POWER
13,200
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
810,600
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.88%
12 TYPE OF REPORTING PERSON (See Instructions)
IA<PAGE>
ITEM 1 (A) NAME OF ISSUER:
Essex Property Trust, Inc.
ITEM 1 (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE
OFFICES:
777 California Avenue
Palo Alto, California 94304
ITEM 2 (A) NAME OF PERSON FILING:
Heitman/PRA Securities Advisors, Inc.
ITEM 2 (B) ADDRESS OF PRINCIPAL OFFICE:
180 North LaSalle Street, Suite 3600
Chicago, Illinois 60601
ITEM 2 (C) CITIZENSHIP:
United States
ITEM 2 (D) TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2 (E) CUSIP NUMBER: 297178105
ITEM 3 IF THIS STATEMENT IS FILED PURSUANT TO RULES
13D-1(B) OR 13D-2(B), CHECK WHETHER THE PERSON
FILING IS A:
ITEM 3 (E) Investment Adviser registered under section 203
of the Investment Advisers Act of 1940.
ITEM 4 OWNERSHIP:
ITEM 4 (A) AMOUNT BENEFICIALLY OWNED:
810,600
ITEM 4 (B) PERCENT OF CLASS:
4.88
ITEM 4 (C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) sole power to vote or to
direct the vote 765,800
(ii) shared power to vote or to
direct the vote 0
(iii) sole power to dispose or
to direct the disposition of 797,400<PAGE>
(iv) shared power to dispose or to
direct the disposition of 13,200
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
This statement is being filed to report the fact that
as of the date hereof Heitman/PRA Securities Advisors,
Inc. has ceased to be the beneficial owner of more than
five percent of the class of securities.
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF
OF ANOTHER PERSON.
Not applicable.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE
SUBSIDIARIES WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
A GROUP.
Not applicable.
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10 CERTIFICATION.
See below.
After reasonable inquiry and to the best of our
knowledge and belief, the undersigned certify that the
information set forth in this statement is true, complete
and correct.
Date: February 12, 1998
/s/ Dean A. Sotter
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DEAN A. SOTTER,
President<PAGE>
