<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Ambassador Apartments, Inc.
________________________________________________________________________________
(Name of Issuer)
Common Stock
________________________________________________________________________________
(Title of Class of Securities)
02316A 10 2
_______________________________________________________________
(CUSIP Number)
Douglas Crocker II
Equity Residential Properties Trust
Two North Riverside Plaza, Suite 400
Chicago, Illinois 60606
(312) 474-1300
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 7, 1997
_______________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
*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
disclosures provided in a prior cover page.
The information required on 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).
Page 1 of 5
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 02316A 10 2 13D PAGE 2 OF 10 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Name: ERP Operating Limited Partnership
S.S. or ID # 36-3894853
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Illinois
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 415,700
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
0
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 415,700
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
415,700
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.0%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
Page 2 of 5
<PAGE>
This statement amends the Schedule 13D dated August 29, 1997
("Schedule 13D") filed by ERP Operating Limited Partnership ("ERP"),
specifically Item 5. Interest in Securities of the issuer. All other
items and information not expressly amended or modified herein remain
as set forth in the Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) and (b) To the best knowledge of ERP, there are 10,490,180 shares
of Common Stock outstanding./1/ As of the date hereof, the 415,700
shares of Common Stock owned by ERP represent approximately 4.0% of
the shares of Common Stock outstanding. ERP, at the direction of its
sole general partner, Equity Residential Property Trust, has sole
power to vote or to direct the vote of the Common Stock owned by it
and the sole power to dispose or to direct the disposition of the
Common Stock owned by it.
- ---------------------
/1/ As of August 11, 1997, as reported by the Issuer in its Form 10-Q for the
period ended June 30, 1997.
Page 3 of 5
<PAGE>
(c) and (e) On October 7, 1997, ERP sold 585,000 shares of common
stock at $23.5128 per share, representing a sale of 5.58%
of the common stock of the issuer.
(d) Not Applicable.
Page 4 of 5
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in the Statement is true, complete and
correct.
ERP OPERATING LIMITED PARTNERSHIP
By: Equity Residential Properties Trust, its
general partner
By: /s/ David J. Neithercut
------------------------------------------
David J. Neithercut
Executive Vice President,
and Chief Financial Officer
Dated: October 9, 1997
Page 5 of 5
