MACK CALI REALTY CORP
SC 13G, 1999-02-16
REAL ESTATE INVESTMENT TRUSTS
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              UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                          WASHINGTON, D.C. 20549

                                SCHEDULE 13G


                 UNDER THE SECURITIES EXCHANGE ACT OF 1934



                        Mack-Cali Realty Corporation
- --------------------------------------------------------------------------------
                              (NAME OF ISSUER)

                               Common Stock
- --------------------------------------------------------------------------------
                       (TITLE OF CLASS OF SECURITIES)

                                554489104
                     ----------------------------------
                              (CUSIP NUMBER)
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CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS 
SCHEDULE IS FILED:

     /X/ RULE 13d-1(b)

     / / RULE 13d-1(c)

     / / RULE 13d-1(d)

                               Page 1 of 8 Pages

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CUSIP No.    554489104      SCHEDULE 13G     PAGE     2    of    8     PAGES
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1.        NAME OF REPORTING PERSON:
          LaSalle Advisors Capital Management, Inc.

          S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
          36-4160747
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2.        CHECK THE APPROPRIATE BOX IF A MEMBER                    (a)  / x /
          OF A GROUP*                                              (b)  /   /
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3.        SEC USE ONLY

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4.        CITIZENSHIP OR PLACE OF ORGANIZATION

          Maryland
- -------------------------------------------------------------------------------

                             5.     SOLE VOTING POWER
         NUMBER OF                  
          SHARES                    394,500
       BENEFICIALLY          --------------------------------------------------
         OWNED BY            6.     SHARED VOTING POWER
          EACH    
        REPORTING                   51,000
         PERSON              --------------------------------------------------
          WITH               7.     SOLE DISPOSITIVE POWER

                                    394,500
                             --------------------------------------------------
                             8.     SHARED DISPOSITIVE POWER
                                    
                                    471,000
- -------------------------------------------------------------------------------
9.        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

          865,500
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10.       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
          SHARES* 

          Excludes shares beneficially owned by ABKB/LaSalle Securities 
          Limited Partnership
- -------------------------------------------------------------------------------
11.       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

          1.5%
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12.       TYPE OF REPORTING PERSON*

          IA
- -------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!




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CUSIP No.    554489104       SCHEDULE 13G     PAGE     3    of    8     PAGES
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1.        NAME OF REPORTING PERSON:
          ABKB/LaSalle Securities Limited Partnership

          S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
          36-3991973
- -------------------------------------------------------------------------------
2.        CHECK THE APPROPRIATE BOX IF A MEMBER                    (a)  / x /
          OF A GROUP*                                              (b)  /   /
- -------------------------------------------------------------------------------
3.        SEC USE ONLY

- -------------------------------------------------------------------------------
4.        CITIZENSHIP OR PLACE OF ORGANIZATION

          Maryland
- -------------------------------------------------------------------------------

                             5.     SOLE VOTING POWER
         NUMBER OF                  
          SHARES                    459,300
       BENEFICIALLY          --------------------------------------------------
         OWNED BY            6.     SHARED VOTING POWER
          EACH    
        REPORTING                   1,466,605
         PERSON              --------------------------------------------------
          WITH               7.     SOLE DISPOSITIVE POWER

                                    414,300
                             --------------------------------------------------
                             8.     SHARED DISPOSITIVE POWER
                                    
                                    1,639,900
- --------------------------------------------------------------------------------
9.        AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

          2,054,200
- -------------------------------------------------------------------------------
10.       CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
          SHARES* 

          Excludes shares beneficially owned by LaSalle Advisors Capital 
          Management, Inc.
- -------------------------------------------------------------------------------
11.       PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

          3.6%
- -------------------------------------------------------------------------------
12.       TYPE OF REPORTING PERSON*

          IA
- -------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!



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CUSIP No.    554489104      SCHEDULE 13G     PAGE     4    of    8     PAGES
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ITEM 1.

    (a)           Name of Issuer

                  Mack-Cali Realty Corporation

    (b)           Address of Issuer's Principal Executive Offices

                  11 Commerce Drive
                  Cranford, NJ 07016


ITEM 2.
    
    LaSalle Advisors Capital Management, Inc. provides the following 
    information:

    (a)           Name of Person Filing

                  LaSalle Advisors Capital Management, Inc.

    (b)           Address of Principal Business Office or, if none, Residence
          
                  200 East Randolph Drive
                  Chicago, Illinois 60601

    (c)           Citizenship

                  Maryland

    (d)           Title of Class of Securities

                  Common Stock, $.01 par value per share

    (e)           CUSIP Number
 
                  411465107

    ABKB/LaSalle Securities Limited Partnership provides the following 
    information:

    (a)           Name of Person Filing

                  ABKB/LaSalle Securities Limited Partnership

    (b)           Address of Principal Business Office or, if none, Residence
          
                  200 East Randolph Drive
                  Chicago, Illinois 60601

    (c)           Citizenship

                  Maryland



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CUSIP No.    554489104      SCHEDULE 13G     PAGE     5    of    8     PAGES
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    (d)           Title of Class of Securities

                  Common Stock, $.01 par value per share

    (e)           CUSIP Number
 
                  94856P102

ITEM 3.*          IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), 
                  OR 13d-2(b), CHECK WHETHER THE PERSON FILING IS A:

     (a)   / /    Broker or Dealer registered under Section 15 of the Act
     (b)   / /    Bank as defined in Section 3(a)(6) of the Act
     (c)   / /    Insurance Company as defined in Section 3(a)(19) of the Act
     (d)   / /    Investment Company registered under Section 8 of the 
                  Investment Company Act
     (e)   /X/    Investment Adviser registered under Section 203 of the 
                  Investment Advisers Act of 1940
     (f)   / /    Employee Benefit Plan, Pension Fund which is subject to the 
                  provisions of the Employee Retirement Income Security Act of
                  1974 or Endowment Fund; see Section 240.13d-1(b)(1)(ii)(F)
     (g)   / /    Parent Holding Company, in accordance with Section 
                  240.13d-1(b)(ii)(G) (Note: See Item 7)
     (h)   / /    A savings association as defined in section 3(b) of the 
                  Federal Deposit Insurance Act
     (i)   / /    A church plan that is excluded from the definition of an 
                  investment company under Section 3(c)(14) of the Investment 
                  Company Act of 1940
     (j)   / /    Group, in accordance with Section 240.13d-1(b)-1(ii)(J)

      * This response is provided on behalf of LaSalle Adivsors Capital 
Management, Inc. and ABKB/LaSalle Securities Limited Partnership, each an 
investment adviser under Section 203 of the Investment Advisers Act of 1940.


ITEM 4.           OWNERSHIP

     If the percent of the class owned, as of December 31 of the year covered 
by the statement, or as of the last day of any month described in Rule 
13d-1(b)(2), if applicable, exceeds five percent, provide the following 
information as of that date and identify those shares which there is a right 
to acquire.

     LaSalle Advisors Capital Management, Inc. provides the following 
     information:

     (a)          Amount Beneficially Owned
 
                  865,500

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CUSIP No.    554489104      SCHEDULE 13G     PAGE     6    of    8     PAGES
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     (b)          Percent of Class

                  1.5%

     (c)          Number of shares as to which such person has:

                 (i) sole power to vote or to direct the vote
                     394,500

                 (ii) shared power to vote or to direct the vote
                      51,000

                 (iii) sole power to dispose or to direct the disposition of 

                       394,500

                 (iv)  shared power to dispose or to direct the disposition of

                       471,000

     ABKB/LaSalle Securities Limited Partnership provides the following 
     information:

     (a)          Amount Beneficially Owned
 
                  2,054,200

     (b)          Percent of Class 

                  3.6%

     (c)          Number of shares as to which such person has:

                 (i) sole power to vote or to direct the vote
                     459,300

                 (ii) shared power to vote or to direct the vote
                      1,466,605

                 (iii) sole power to dispose or to direct the disposition of

                       414,300

                 (iv)  shared power to dispose or to direct the disposition of

                       1,639,900


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CUSIP No.    554489104      SCHEDULE 13G     PAGE     7    of    8     PAGES
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ITEM 5.          OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

     If this statement is being filed to report the fact that as of the date 
hereof the reporting person has ceased to be the beneficial owner of more 
than five percent of the class of securities, check the following / /.

Item 6.          OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER 
                 PERSON

                 Not applicable.

ITEM 7.          IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH 
                 ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT 
                 HOLDING COMPANY

                 Not applicable.

ITEM 8.          IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

     The two members of the Group are: LaSalle Advisors Capital Management, Inc.
("LaSalle") and ABKB/LaSalle Securities Limited Partnership ("ABKB/LaSalle").

     ABKB/LaSalle is Maryland limited partnership, the limited partner of 
which is LaSalle and the general partner of which is ABKB/LaSalle Securities, 
Inc., a Maryland corporation, the sole stockholder of which is LaSalle. 
LaSalle and ABKB/LaSalle, each registered investment advisers, have different 
advisory clients.

ITEM 9.          NOTICE OF DISSOLUTION OF GROUP

                 Not applicable.

ITEM 10.         CERTIFICATION

    By signing below I certify that, to the best of my knowledge and belief, 
the securities referred to above were acquired in the ordinary course of 
business and were not acquired for the purpose of and do not have the effect 
of changing or influencing the control of the issuer of such securities and 
were not acquired in connection with or as a participant in any transaction 
having such purposes or effect.


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CUSIP No.    554489104      SCHEDULE 13G     PAGE     8    of    8     PAGES
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                                  SIGNATURE

    After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.

    The parties agree that this statement is filed on behalf of each of them.


Dated: February 11, 1999


                                      LASALLE ADVISORS CAPITAL MANAGEMENT, INC.



                                     
                                      By:    /s/ William K. Morrill, Jr.
                                             ------------------------------
                                      Name:  William K. Morrill, Jr.     
                                      Title: Managing Director



                                      ABKB/LASALLE SECURITIES 
                                      LIMITED PARTNERSHIP




                                      By:    /s/ William K. Morrill, Jr.
                                             -------------------------------
                                      Name:  William K. Morrill, Jr.
                                      Title: Managing Director



                                          


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