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OMB APPROVAL
OMB Number 3235-0145
Expires August 31, 1991
Estimated average burden hours per
response.....................14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
ERP OPERATING LIMITED PARTNERSHIP
- -------------------------------------------------------------------------------
(NAME OF ISSUER)
OPERATING PARTNERSHIP UNITS
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(TITLE OF CLASS OF SECURITIES)
N/A
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(CUSIP NUMBER)
Check the following box if a fee is being paid with the statement [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled our 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 9 pages
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CUSIP NO. N/A 13G
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
FU ASSOCIATES
36-3928382
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
ILLINOIS
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5 SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 270,769
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
270,769
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
270,769
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.46%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 9 Pages
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CUSIP NO. N/A 13G
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
B/S INVESTMENTS
36-6526147
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
ILLINOIS
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5 SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 669
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
669
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
669
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
.00%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 9 Pages
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CUSIP NO. N/A 13G
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
ROPU ASSOCIATES LIMITED PARTNERSHIP
36-4027196
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
ILLINOIS
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5 SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 3,133,146
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
3,133,146
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,133,146
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.31%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 9 Pages
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CUSIP NO. N/A 13G
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SAMUEL ZELL
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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5 SOLE VOTING POWER
NUMBER OF
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 3,404,584
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
3,404,584
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,404,584
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN
SHARES* [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.77%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 9 Pages
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ERP OPERATING LIMITED PARTNERSHIP
OPERATING PARTNERSHIP UNITS
NO CUSIP NUMBER
ITEM 1(A). NAME OF ISSUER
The Issuer is ERP Operating Limited partnership, an
Illinois limited partnership (the "Operating
Partnership").
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
The Issuer's principal executive office is:
Two North Riverside Plaza
Chicago, Illinois 60606
ITEM 2(A). NAME OF PERSON FILING
FU Associates
B/S Investments
ROPU Associates Limited Partnership
Samuel Zell
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE
The address for each Reporting Person is:
Two North Riverside Plaza
Chicago, Illinois 60606
ITEM 2(C). CITIZENSHIP
Each of the Reporting Persons' state of organization
is Illinois except for Samuel Zell who is a citizen
of the United States of America.
ITEM 2(D). TITLE OF CLASS OF SECURITIES
Securities reported herein are Operating Partnership
Units ("OP Units").
ITEM 2(E). CUSIP NUMBER
Not applicable.
Page 6 of 9 Pages
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR
13D-2(B), CHECK WHETHER THE PERSON FILING IS A
Not applicable.
ITEM 4. OWNERSHIP
The Issuer is ERP Operating Limited Partnership, an Illinois
limited partnership (the "Operating Partnership"). Each of
the Reporting Persons, except Samuel Zell, is a limited
partner of the Operating Partnership. Because Mr. Zell
controls each Reporting Person, all OP Units beneficially
owned by each Reporting Person are shown as being beneficially
owned by Mr. Zell. Mr. Zell also shares the power to vote or
to direct the vote of the OP Units with each Reporting Person.
Mr. Zell disclaims beneficial ownership of such OP Units
beneficially owned by all other Reporting Persons.
Each Reporting Persons' ownership as of December 31, 1996, is
as follows:
<TABLE>
<CAPTION>
AMOUNT PERCENT OF
BENEFICIALLY CLASS
NAME OWNED %
---- ------------ ----------
<S> <C> <C>
FU Associates 270,769 .46
B/S Investments 669 .00
ROPU Associates Limited Partnership 3,133,146 5.31
Samuel Zell 3,404,584 5.77
</TABLE>
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON
Samuel Zell has the power to direct the receipt of
distributions from, or the proceeds from the sale of, such
securities for each of the Reporting Persons.
Page 7 of 9 Pages
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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
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATE
Not applicable.
Page 8 of 9 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.
Dated: February 14, 1997
FU ASSOCIATES, an Illinois general partnership
By: Equity Group Investments, Inc.,
an Illinois corporation, its managing
general partner
By: /s/ Sheli Z. Rosenberg
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Its: President & Chief Executive
Officer
B/S INVESTMENTS, an Illinois general
partnership
By: Alphabet Partners, a general partner
By: SZA Trust, a general partner
By: /s/ Arthur A. Greenberg
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Its: Trustee
ROPU ASSOCIATES, an Illinois Limited
Partnership, an Illinois limited
partnership
By: Samuel Zell Revocable Trust,
a general partner
By: /s/ Samuel Zell
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Its: Trustee
/s/ Samuel Zell
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Samuel Zell
Page 9 of 9 Pages
