| | /x/ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934(Fee required)
| | --- | --------------------------------------------------------------------------------------------------



| | / / | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934(No fee required)
| | --- | ---------------------------------------------------------------------------------------------------------



| | Maryland                                                          |  | 36-3910279                          
| | ----------------------------------------------------------------- |  | ------------------------------------
| | (State or Other Jurisdiction of Incorporation
or Organization)    |  | (I.R.S. Employer
Identification No.)
| | 1808 Swift Drive, Oak Brook, Illinois                             |  | 60523-                              
| | (Address of principal executive offices)                          |  | (Zip code)                          
| | Registrant's telephone number, including area code:(630) 586-8000
| | Securities registered pursuant to Section 12(b) of the Act:      

| |  | Title of Each Class                                                       |  | Name of Each Exchange on Which Registered
| |  | ------------------------------------------------------------------------- |  | -----------------------------------------
| |  | Common Shares, par value $.001                                            |  | New York Stock Exchange                  
| |  | 8.48% Series A Preferred Shares, par value $.001                          |  | New York Stock Exchange                  
| |  | 7.5% Series B Convertible Preferred Shares, par value $.001               |  | New York Stock Exchange                  
| |  | Preferred Share Purchase Rights, with respect to common shares, par $.001 |  | New York Stock Exchange                  



---



Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K.



---



|                                        |  |   |          |   |   |       |  | Costs Capitalized
Subsequent to Acquisition |        | Gross Amounts at Which
Carried at Close of Period |   |     |  |   |        |  |   |       |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |      
|--------------------------------------- |  | - | -------- | - | - | ----- |  | ------------------------------------------- | ------ | ------------------------------------------------- | - | --- |  | - | ------ |  | - | ----- |  | ------------------------------------------------------------------- | -----
|
|
|Warehouse/Industrial Properties:        |  |   |          |   |   |       |  |                                             |        |                                                   |   |     |  |   |        |  |   |       |  |                                                                     |      
|425 W. 151st Street
East Chicago, IN    |  |   |          |   | $ | 252   |  | $                                           | 1,805  |                                                   | $ | 33  |  | $ | 5,304  |  | $ | 1,155 |  | $                                                                   | 285  
|201 Mississippi Street
Gary, IN         |  | $ | 50,000(g | ) |   | 807   |  |                                             | 9,948  |                                                   |   | 278 |  |   | 22,656 |  |   |       |  |                                                                     | 1,085
|1201 Lunt Avenue
Elk Grove Village, IL  |  |   | (g       | ) |   | 57    |  |                                             | 146    |                                                   |   | 1   |  |   | 7      |  |   |       |  |                                                                     | 58   
|620 Butterfield Road
Mundelein, IL      |  |   |          |   |   | 335   |  |                                             | 1,974  |                                                   |   | 61  |  |   | 371    |  |   |       |  |                                                                     | 396  
|1319 Marquette Drive
Romeoville, IL     |  |   | (g       | ) |   | 948   |  |                                             | 2,530  |                                                   |   | 0   |  |   | 113    |  |   |       |  |                                                                     | 948  
|900 E. 103rd Street
Chicago, IL         |  |   |          |   |   | 2,226 |  |                                             | 10,693 |                                                   |   | 0   |  |   | 8,364  |  |   |       |  |                                                                     | 2,226
|1520 Pratt Avenue
Elk Grove Village, IL |  |   | (g       | ) |   | 498   |  |                                             | 1,558  |                                                   |   | 0   |  |   | 11     |  |   |       |  |                                                                     | 498  
|1850 Greenleaf
Elk Grove Village, IL    |  |   |          |   |   | 509   |  |                                             | 1,386  |                                                   |   | 0   |  |   | 356    |  |   |       |  |                                                                     | 509  
|2743 Armstrong Court
Des Plaines, IL    |  |   |          |   |   | 1,320 |  |                                             | 2,679  |                                                   |   | 0   |  |   | 282    |  |   |       |  |                                                                     | 1,320
|5990 Touhy Avenue
Niles, IL             |  |   |          |   |   | 2,047 |  |                                             | 8,509  |                                                   |   | 0   |  |   | 1,445  |  |   |       |  |                                                                     | 2,047
|2339 Ernie Krueger Court
Waukegan, IL   |  |   |          |   |   | 158   |  |                                             | 1,819  |                                                   |   | 0   |  |   | 10     |  |   |       |  |                                                                     | 158  
|1400 Busse Road
Elk Grove Village, IL   |  |   |          |   |   | 439   |  |                                             | 5,719  |                                                   |   | 0   |  |   | 306    |  |   |       |  |                                                                     | 439  
|1250 Carolina Drive
West Chicago, IL    |  |   |          |   |   | 583   |  |                                             | 3,836  |                                                   |   | 0   |  |   | 266    |  |   |       |  |                                                                     | 583  
|5619 W. 115th Street
Alsip, IL          |  |   | (g       | ) |   | 2,267 |  |                                             | 12,169 |                                                   |   | 0   |  |   | 1,864  |  |   |       |  |                                                                     | 2,267
|825 Tollgate Road
Elgin, IL             |  |   | (g       | ) |   | 712   |  |                                             | 3,584  |                                                   |   | 0   |  |   | 112    |  |   |       |  |                                                                     | 712  
|720 Frontenac
Naperville, IL            |  |   |          |   |   | 1,014 |  |                                             | 4,055  |                                                   |   | 22  |  |   | 203    |  |   |       |  |                                                                     | 1,036
|820 Frontenac
Naperville, IL            |  |   |          |   |   | 906   |  |                                             | 3,626  |                                                   |   | 0   |  |   | 181    |  |   |       |  |                                                                     | 906  
|1120 Frontenac
Naperville, IL           |  |   |          |   |   | 791   |  |                                             | 3,164  |                                                   |   | 23  |  |   | 743    |  |   |       |  |                                                                     | 814  
|1510 Frontenac
Naperville, IL           |  |   |          |   |   | 621   |  |                                             | 2,485  |                                                   |   | 16  |  |   | 95     |  |   |       |  |                                                                     | 637  
|1020 Frontenac
Naperville, IL           |  |   |          |   |   | 591   |  |                                             | 2,363  |                                                   |   | 11  |  |   | 446    |  |   |       |  |                                                                     | 602  
|1560 Frontenac
Naperville, IL           |  |   |          |   |   | 508   |  |                                             | 2,034  |                                                   |   | 12  |  |   | 178    |  |   |       |  |                                                                     | 520  
|920 Frontenac
Naperville, IL            |  |   |          |   |   | 717   |  |                                             | 2,367  |                                                   |   | 0   |  |   | 576    |  |   |       |  |                                                                     | 717  

---

|                                              |  |    |   |       |  |        |  | Costs Capitalized
Subsequent to Acquisition |  | Gross Amounts at Which
Carried at Close of Period |  |  |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|--------------------------------------------- |  | -- | - | ----- |  | ------ |  | ------------------------------------------- |  | ------------------------------------------------- |  |  |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|1 Wildlife Way
Long Grove, IL                 |  |    |   | 530   |  | 2,122  |  | 0                                           |  | 137                                               |  |  |  | 530   |  | 2,259  |  | 2,789  |  | (474                                                                | )
|900 W. University Drive
Arlington Heights, IL |  | (g | ) | 817   |  | 3,268  |  | 17                                          |  | 96                                                |  |  |  | 834   |  | 3,364  |  | 4,198  |  | (693                                                                | )
|745 Birginal Drive
Bensenville, IL            |  |    |   | 601   |  | 2,406  |  | 1                                           |  | 497                                               |  |  |  | 602   |  | 2,903  |  | 3,505  |  | (550                                                                | )
|21399 Torrence Avenue
Sauk Village, IL        |  |    |   | 1,550 |  | 6,199  |  | 565                                         |  | 707                                               |  |  |  | 2,115 |  | 6,906  |  | 9,021  |  | (1,397                                                              | )
|2600 N. Elmhurst Road
Elk Grove Village, IL.  |  |    |   | 842   |  | 3,366  |  | 1                                           |  | 46                                                |  |  |  | 843   |  | 3,412  |  | 4,255  |  | (626                                                                | )
|8901 W. 102nd Street
Pleasant Prarie, WI      |  | (g | ) | 900   |  | 3,608  |  | 0                                           |  | 51                                                |  |  |  | 900   |  | 3,659  |  | 4,559  |  | (717                                                                | )
|8200 100th Street
Pleasant Prarie, WI         |  | (g | ) | 1,220 |  | 4,890  |  | 0                                           |  | 37                                                |  |  |  | 1,220 |  | 4,927  |  | 6,147  |  | (971                                                                | )
|825-845 Hawthorne
West Chicago, IL            |  |    |   | 721   |  | 2,884  |  | 23                                          |  | 1,094                                             |  |  |  | 744   |  | 3,978  |  | 4,722  |  | (612                                                                | )
|1700 Butterfield Road
Mundelein, IL           |  |    |   | 342   |  | 1,371  |  | 0                                           |  | 150                                               |  |  |  | 342   |  | 1,521  |  | 1,863  |  | (265                                                                | )
|10601 Seymour Avenue
Franklin Park, IL        |  |    |   | 2,020 |  | 8,081  |  | 184                                         |  | 13,271                                            |  |  |  | 2,204 |  | 21,352 |  | 23,556 |  | (2,390                                                              | )
|11701 South Central
Alsip, IL                 |  |    |   | 1,241 |  | 4,964  |  | 22                                          |  | 1,432                                             |  |  |  | 1,263 |  | 6,396  |  | 7,659  |  | (962                                                                | )
|11601 South Central
Alsip, IL                 |  |    |   | 1,071 |  | 4,285  |  | 53                                          |  | 1,347                                             |  |  |  | 1,124 |  | 5,632  |  | 6,756  |  | (820                                                                | )
|850 Arthur Avenue
Elk Grove Village, IL       |  |    |   | 270   |  | 1,081  |  | 2                                           |  | 332                                               |  |  |  | 272   |  | 1,413  |  | 1,685  |  | (224                                                                | )
|1827 North Bendix Drive
South Bend, IN        |  | (g | ) | 1,010 |  | 4,040  |  | 24                                          |  | 185                                               |  |  |  | 1,034 |  | 4,225  |  | 5,259  |  | (676                                                                | )
|4400 S. Kolmar
Chicago, IL                    |  | (g | ) | 603   |  | 2,412  |  | 9                                           |  | 215                                               |  |  |  | 612   |  | 2,627  |  | 3,239  |  | (410                                                                | )
|6600 River Road
Hodgkins, IL                  |  |    |   | 2,640 |  | 10,562 |  | 47                                          |  | 805                                               |  |  |  | 2,687 |  | 11,367 |  | 14,054 |  | (1,653                                                              | )
|7501 N. 81st Street
Milwaukee, WI             |  |    |   | 1,018 |  | 4,073  |  | 19                                          |  | 83                                                |  |  |  | 1,037 |  | 4,156  |  | 5,193  |  | (609                                                                | )
|1100 Chase Avenue
Elk Grove Village, IL       |  | (g | ) | 248   |  | 993    |  | 7                                           |  | 246                                               |  |  |  | 255   |  | 1,239  |  | 1,494  |  | (187                                                                | )
|2553 N. Edgington
Franklin Park, IL           |  |    |   | 1,870 |  | 7,481  |  | 67                                          |  | 1,902                                             |  |  |  | 1,937 |  | 9,383  |  | 11,320 |  | (1,229                                                              | )
|875 Fargo Avenue
Elk Grove Village, IL        |  |    |   | 572   |  | 2,284  |  | 14                                          |  | 1,078                                             |  |  |  | 586   |  | 3,362  |  | 3,948  |  | (447                                                                | )
|1800 Bruning Drive
Itasca, IL                 |  |    |   | 1,999 |  | 7,995  |  | 27                                          |  | 213                                               |  |  |  | 2,026 |  | 8,208  |  | 10,234 |  | (1,168                                                              | )

---

|                                                 |  |    |   |       |  |        |  | Costs Capitalized
Subsequent to Acquisition |   | Gross Amounts at Which
Carried at Close of Period |  |     |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|------------------------------------------------ |  | -- | - | ----- |  | ------ |  | ------------------------------------------- | - | ------------------------------------------------- |  | --- |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|1501 Pratt
Elk Grove Village, IL                 |  |    |   | 1,047 |  | 4,189  |  | 72                                          |   | 553                                               |  |     |  | 1,119 |  | 4,742  |  | 5,861  |  | (670                                                                | )
|400 N. Wolf Road
Northlake, IL                   |  |    |   | 4,504 |  | 18,017 |  | (996                                        | ) | 9,567                                             |  |     |  | 3,508 |  | 27,584 |  | 31,092 |  | (3,511                                                              | )
|16400 W. 103rd Street
Lemont, IL                 |  |    |   | 446   |  | 1,748  |  | 21                                          |   | 304                                               |  |     |  | 467   |  | 2,052  |  | 2,519  |  | (259                                                                | )
|425 S. 37th Avenue
St. Charles, IL               |  |    |   | 644   |  | 2,575  |  | 7                                           |   | 260                                               |  |     |  | 651   |  | 2,835  |  | 3,486  |  | (375                                                                | )
|Lot 51-Naperville Business Center
Naperville, IL |  |    |   | 210   |  | 0      |  | 0                                           |   | 16                                                |  |     |  | 210   |  | 16     |  | 226    |  | (2                                                                  | )
|3145 Central Avenue
Waukeegan, IL                |  |    |   | 1,270 |  | 5,080  |  | 20                                          |   | 1,797                                             |  |     |  | 1,290 |  | 6,877  |  | 8,167  |  | (838                                                                | )
|2003-2207 South 114th Street
West Allis, WI      |  |    |   | 942   |  | 3,770  |  | 7                                           |   | 224                                               |  |     |  | 949   |  | 3,994  |  | 4,943  |  | (457                                                                | )
|2801 S. Busse Road
Elk Grove Village, IL         |  | (g | ) | 1,875 |  | 7,556  |  | 12                                          |   | 589                                               |  | 107 |  | 1,887 |  | 8,252  |  | 10,139 |  | (978                                                                | )
|6464 West 51st Street
Forest View, IL            |  |    |   | 934   |  | 3,734  |  | 4                                           |   | 299                                               |  |     |  | 938   |  | 4,033  |  | 4,971  |  | (460                                                                | )
|6500 West 51st Street
Forest View, IL            |  |    |   | 805   |  | 3,221  |  | 4                                           |   | 106                                               |  |     |  | 809   |  | 3,327  |  | 4,136  |  | (382                                                                | )
|7447 South Central Avenue
Bedford Park, IL       |  | (g | ) | 437   |  | 1,748  |  | 8                                           |   | 118                                               |  |     |  | 445   |  | 1,866  |  | 2,311  |  | (210                                                                | )
|7525 S. Sayre Avenue
Bedford Park, IL            |  |    |   | 587   |  | 2,345  |  | 5                                           |   | 629                                               |  |     |  | 592   |  | 2,974  |  | 3,566  |  | (302                                                                | )
|1 Allsteel Drive
Aurora, IL                      |  |    |   | 2,458 |  | 9,832  |  | (252                                        | ) | 8,059                                             |  |     |  | 2,206 |  | 17,891 |  | 20,097 |  | (1,929                                                              | )
|2525 Busse Highway
Elk Grove Village, IL         |  |    |   | 5,400 |  | 12,601 |  | (727                                        | ) | 8,830                                             |  |     |  | 4,673 |  | 21,431 |  | 26,104 |  | (2,065                                                              | )
|106th and Buffalo Avenue
Chicago, IL             |  |    |   | 248   |  | 992    |  | 9                                           |   | 631                                               |  |     |  | 257   |  | 1,623  |  | 1,880  |  | (227                                                                | )
|7400 South Narragansett
Bedford Park,IL          |  |    |   | 743   |  | 2,972  |  | 10                                          |   | 347                                               |  |     |  | 753   |  | 3,319  |  | 4,072  |  | (337                                                                | )
|2701 S. Busse Road
Elk Grove Village, IL         |  | (g | ) | 1,875 |  | 5,667  |  | 4                                           |   | 1,333                                             |  | 255 |  | 1,879 |  | 7,255  |  | 9,134  |  | (701                                                                | )
|East Avenue and 55th Street
McCook, IL           |  |    |   | 1,190 |  | 4,761  |  | 57                                          |   | 4,651                                             |  |     |  | 1,247 |  | 9,412  |  | 10,659 |  | (757                                                                | )
|6757 S. Sayre
Bedford Park, IL                   |  |    |   | 1,236 |  | 4,945  |  | 7                                           |   | 160                                               |  |     |  | 1,243 |  | 5,105  |  | 6,348  |  | (519                                                                | )
|1951 Landmeir Road
Elk Grove Village, IL         |  |    |   | 280   |  | 1,120  |  | 12                                          |   | 51                                                |  |     |  | 292   |  | 1,171  |  | 1,463  |  | (120                                                                | )
|1355 Enterprise Drive
Romeoville, IL             |  |    |   | 580   |  | 2,320  |  | 8                                           |   | 518                                               |  |     |  | 588   |  | 2,838  |  | 3,426  |  | (291                                                                | )

---

|                                              |  |    |   |       |  |        |  | Costs Capitalized
Subsequent to Acquisition |  | Gross Amounts at Which
Carried at Close of Period |  |       |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|--------------------------------------------- |  | -- | - | ----- |  | ------ |  | ------------------------------------------- |  | ------------------------------------------------- |  | ----- |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|5700 West Touhy Avenue
Niles, IL              |  |    |   | 8,749 |  | 27,762 |  | 98                                          |  | 22,119                                            |  | 1,466 |  | 8,847 |  | 51,347 |  | 60,194 |  | (125                                                                | )
|110-190 Old Higgins Road
Des Plaines, IL      |  |    |   | 1,862 |  | 7,447  |  | 12                                          |  | 1,636                                             |  |       |  | 1,874 |  | 9,083  |  | 10,957 |  | (773                                                                | )
|1475 S. 101st Street
West Allis, WI           |  |    |   | 331   |  | 1,323  |  | 1                                           |  | 85                                                |  |       |  | 332   |  | 1,408  |  | 1,740  |  | (131                                                                | )
|1333 Grandview Drive
Yorkville, WI            |  |    |   | 1,516 |  | 6,062  |  | 5                                           |  | 21                                                |  |       |  | 1,521 |  | 6,083  |  | 7,604  |  | (579                                                                | )
|2301 Route 30
Plainfield, IL                  |  |    |   | 1,217 |  | 4,868  |  | 69                                          |  | 2,544                                             |  |       |  | 1,286 |  | 7,412  |  | 8,698  |  | (613                                                                | )
|1796 Sherwin Avenue
Des Plaines, IL           |  | (g | ) | 944   |  | 3,778  |  | 12                                          |  | 1,040                                             |  |       |  | 956   |  | 4,818  |  | 5,774  |  | (474                                                                | )
|2727 W. Diehl Road
Naperville, IL             |  |    |   | 3,071 |  | 14,232 |  | 5                                           |  | 397                                               |  |       |  | 3,076 |  | 14,629 |  | 17,705 |  | (1,390                                                              | )
|O'hare Express CenterA2
Elk GroveVillage, IL |  |    |   | 1,097 |  | 7,060  |  | 0                                           |  | 300                                               |  | 110   |  | 1,097 |  | 7,470  |  | 8,567  |  | (838                                                                | )
|O'hare Express CenterB1
Elk GroveVillage, IL |  |    |   | 1,682 |  | 10,500 |  | 0                                           |  | 1,080                                             |  | 96    |  | 1,682 |  | 11,676 |  | 13,358 |  | (1,315                                                              | )
|O'hare ExpressB2
Elk Grove Village, IL       |  |    |   | 1,618 |  | 6,287  |  | 0                                           |  | 5,182                                             |  | 328   |  | 1,618 |  | 11,797 |  | 13,415 |  | (786                                                                | )
|O'hare ExpressC
Elk Grove Village, IL        |  |    |   | 2,603 |  | 12,117 |  | 0                                           |  | 0                                                 |  | 50    |  | 2,603 |  | 12,167 |  | 14,770 |  | (382                                                                | )
|2021 Lunt Avenue
Elk Grove, IL                |  |    |   | 464   |  | 1,855  |  | 8                                           |  | 156                                               |  |       |  | 472   |  | 2,011  |  | 2,483  |  | (183                                                                | )
|2121 Touhy Avenue
Elk Grove, IL               |  |    |   | 918   |  | 3,672  |  | 12                                          |  | 179                                               |  |       |  | 930   |  | 3,851  |  | 4,781  |  | (353                                                                | )
|200 Champion Dr.
North Lake, IL               |  |    |   | 467   |  | 5,645  |  | 0                                           |  | 0                                                 |  | 87    |  | 467   |  | 5,732  |  | 6,199  |  | (551                                                                | )
|2001 S. Mt. Prospect Road
Des Plaines, IL     |  |    |   | 980   |  | 4,223  |  | 1                                           |  | 812                                               |  |       |  | 981   |  | 5,035  |  | 6,016  |  | (378                                                                | )
|745 Dillon Drive
Wood Dale, IL                |  |    |   | 645   |  | 2,820  |  | 0                                           |  | 18                                                |  |       |  | 645   |  | 2,838  |  | 3,483  |  | (216                                                                | )
|1030 Fabyan Parkway
Batavia, IL               |  |    |   | 1,206 |  | 5,144  |  | 0                                           |  | 0                                                 |  |       |  | 1,206 |  | 5,144  |  | 6,350  |  | (423                                                                | )
|4700 Ironwood Drive
Franklin, WI              |  |    |   | 419   |  | 3,415  |  | 11                                          |  | 53                                                |  |       |  | 430   |  | 3,468  |  | 3,898  |  | (291                                                                | )
|2601 Bond Street
University Park, IL          |  |    |   | 380   |  | 1,527  |  | 8                                           |  | 25                                                |  |       |  | 388   |  | 1,552  |  | 1,940  |  | (127                                                                | )
|201 Oakton
Des Plaines, IL                    |  | (g | ) | 838   |  | 3,351  |  | 8                                           |  | 1,727                                             |  |       |  | 846   |  | 5,078  |  | 5,924  |  | (369                                                                | )
|3601 Runge Avenue
Franklin Park, IL           |  |    |   | 541   |  | 2,180  |  | 3                                           |  | 107                                               |  |       |  | 544   |  | 2,287  |  | 2,831  |  | (178                                                                | )

---

|                                          |  |       |   |       |  |       |  | Costs Capitalized
Subsequent to Acquisition |   | Gross Amounts at Which
Carried at Close of Period |  |     |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|----------------------------------------- |  | ----- | - | ----- |  | ----- |  | ------------------------------------------- | - | ------------------------------------------------- |  | --- |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|3400 N. Powell
Franklin Park, IL          |  | (g    | ) | 812   |  | 3,277 |  | 3                                           |   | 41                                                |  |     |  | 815   |  | 3,318  |  | 4,133  |  | (263                                                                | )
|11440 West Addison
Franklin Park, IL      |  |       |   | 540   |  | 2,200 |  | 3                                           |   | 147                                               |  |     |  | 543   |  | 2,347  |  | 2,890  |  | (183                                                                | )
|3434 N. Powell
Franklin Park, IL          |  |       |   | 429   |  | 1,723 |  | 3                                           |   | 149                                               |  |     |  | 432   |  | 1,872  |  | 2,304  |  | (143                                                                | )
|7633 S. Sayre
Bedford Park                |  |       |   | 167   |  | 700   |  | 4                                           |   | 35                                                |  |     |  | 171   |  | 735    |  | 906    |  | (58                                                                 | )
|1999 N. Ruby
Franklin Park, IL            |  |       |   | 402   |  | 1,615 |  | 3                                           |   | 280                                               |  |     |  | 405   |  | 1,895  |  | 2,300  |  | (139                                                                | )
|11550 W. King Drive
Franklin Park, IL     |  |       |   | 320   |  | 1,303 |  | 3                                           |   | 93                                                |  |     |  | 323   |  | 1,396  |  | 1,719  |  | (108                                                                | )
|7201 S. Leamington
Bedford Park, IL       |  |       |   | 340   |  | 1,697 |  | (4                                          | ) | 10                                                |  |     |  | 336   |  | 1,707  |  | 2,043  |  | (135                                                                | )
|1575 Executive Drive
Elgin, IL            |  |       |   | 240   |  | 964   |  | 3                                           |   | 33                                                |  |     |  | 243   |  | 997    |  | 1,240  |  | (79                                                                 | )
|7200 S. Mason
Bedford Park, IL            |  |       |   | 1,037 |  | 4,286 |  | 3                                           |   | 65                                                |  |     |  | 1,040 |  | 4,351  |  | 5,391  |  | (344                                                                | )
|6000 W. 73rd
Bedford Park, IL             |  |       |   | 794   |  | 3,190 |  | 16                                          |   | 107                                               |  |     |  | 810   |  | 3,297  |  | 4,107  |  | (258                                                                | )
|28160 N. Keith
Lake Forest, IL            |  |       |   | 616   |  | 2,496 |  | 3                                           |   | 52                                                |  |     |  | 619   |  | 2,548  |  | 3,167  |  | (201                                                                | )
|28618 N. Ballard
Lake Forest, IL          |  |       |   | 469   |  | 1,943 |  | 3                                           |   | 40                                                |  |     |  | 472   |  | 1,983  |  | 2,455  |  | (157                                                                | )
|11400 W. Melrose Street
Franklin Park, IL |  |       |   | 168   |  | 43    |  | 3                                           |   | 11                                                |  |     |  | 171   |  | 54     |  | 225    |  | (22                                                                 | )
|11801 S. Central
Alsip, IL                |  | 4,120 |   | 1,592 |  | 6,367 |  | 2                                           |   | 332                                               |  |     |  | 1,594 |  | 6,699  |  | 8,293  |  | (500                                                                | )
|1808 Swift Dr.
Oak Brook, IL              |  |       |   | 475   |  | 2,620 |  | 675                                         |   | 11,085                                            |  |     |  | 1,150 |  | 13,705 |  | 14,855 |  | (903                                                                | )
|5611 W. Mill Road
Milwaukee, WI           |  |       |   | 218   |  | 925   |  | 0                                           |   | 23                                                |  |     |  | 218   |  | 948    |  | 1,166  |  | (57                                                                 | )
|9550 W. 55th St.
McCook, IL               |  |       |   | 486   |  | 7,579 |  | 0                                           |   | 55                                                |  |     |  | 486   |  | 7,634  |  | 8,120  |  | (409                                                                | )
|100 W. Whitehall
Northlake, IL            |  |       |   | 578   |  | 7,791 |  | 0                                           |   | 139                                               |  | 185 |  | 578   |  | 8,115  |  | 8,693  |  | (438                                                                | )
|101 45th Street
Munster, IN               |  |       |   | 1,925 |  | 7,700 |  | 1                                           |   | 64                                                |  |     |  | 1,926 |  | 7,764  |  | 9,690  |  | (453                                                                | )
|245 E. North Ave.
Carol Stream, IL        |  |       |   | 1,668 |  | 6,672 |  | 3                                           |   | 34                                                |  |     |  | 1,671 |  | 6,706  |  | 8,377  |  | (354                                                                | )
|250 W. 63rd St.
Westmont, IL              |  |       |   | 188   |  | 751   |  | 0                                           |   | 24                                                |  |     |  | 188   |  | 775    |  | 963    |  | (41                                                                 | )

---

|                                        |  |  |  |       |  |       |  | Costs Capitalized
Subsequent to Acquisition |  | Gross Amounts at Which
Carried at Close of Period |  |  |  |       |  |       |  |       |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|--------------------------------------- |  |  |  | ----- |  | ----- |  | ------------------------------------------- |  | ------------------------------------------------- |  |  |  | ----- |  | ----- |  | ----- |  | ------------------------------------------------------------------- | -
|
|
|22 W. 760 Poss St.
Glen Ellyn, IL       |  |  |  | 286   |  | 1,145 |  | 0                                           |  | 26                                                |  |  |  | 286   |  | 1,171 |  | 1,457 |  | (62                                                                 | )
|9714 S. Route 59
Naperville, IL         |  |  |  | 379   |  | 1,517 |  | 0                                           |  | 32                                                |  |  |  | 379   |  | 1,549 |  | 1,928 |  | (82                                                                 | )
|1000 Swanson Dr.
Batavia, IL            |  |  |  | 211   |  | 846   |  | 0                                           |  | 19                                                |  |  |  | 211   |  | 865   |  | 1,076 |  | (46                                                                 | )
|425 N. Villa Ave.
Villa Park, IL        |  |  |  | 325   |  | 1,300 |  | 0                                           |  | 25                                                |  |  |  | 325   |  | 1,325 |  | 1,650 |  | (70                                                                 | )
|6110 East Ave.
Hodgkins, IL             |  |  |  | 174   |  | 696   |  | 0                                           |  | 33                                                |  |  |  | 174   |  | 729   |  | 903   |  | (38                                                                 | )
|16951 State Street
South Holland, IL    |  |  |  | 397   |  | 1,589 |  | 0                                           |  | 46                                                |  |  |  | 397   |  | 1,635 |  | 2,032 |  | (86                                                                 | )
|1207 S. Greenwood
Maywood, IL           |  |  |  | 10    |  | 40    |  | 0                                           |  | 23                                                |  |  |  | 10    |  | 63    |  | 73    |  | (3                                                                  | )
|1336 W. Monee Rd.
Crete, IL             |  |  |  | 28    |  | 112   |  | 0                                           |  | 27                                                |  |  |  | 28    |  | 139   |  | 167   |  | (7                                                                  | )
|10047 Virginia Ave.
Chicago Ridge, IL   |  |  |  | 240   |  | 960   |  | 0                                           |  | 12                                                |  |  |  | 240   |  | 972   |  | 1,212 |  | (51                                                                 | )
|2440 Pratt Ave.
Elk Grove Village, IL   |  |  |  | 1,063 |  | 4,251 |  | 3                                           |  | 430                                               |  |  |  | 1,066 |  | 4,681 |  | 5,747 |  | (240                                                                | )
|1555 North Basswood
Schaumburg, IL      |  |  |  | 171   |  | 686   |  | 0                                           |  | 11                                                |  |  |  | 171   |  | 697   |  | 868   |  | (37                                                                 | )
|1140 W. Thorndale
Itasca, IL            |  |  |  | 374   |  | 1,497 |  | 1                                           |  | 107                                               |  |  |  | 375   |  | 1,604 |  | 1,979 |  | (82                                                                 | )
|1020-50 W. Thorndale
Itasca, IL         |  |  |  | 396   |  | 1,585 |  | 1                                           |  | 141                                               |  |  |  | 397   |  | 1,726 |  | 2,123 |  | (85                                                                 | )
|1705-1775 Hubbard Ave.
Batavia, IL      |  |  |  | 234   |  | 936   |  | 0                                           |  | 63                                                |  |  |  | 234   |  | 999   |  | 1,233 |  | (54                                                                 | )
|900 Paramount Parkway
Batavia, IL       |  |  |  | 250   |  | 1,001 |  | 2                                           |  | 18                                                |  |  |  | 252   |  | 1,019 |  | 1,271 |  | (54                                                                 | )
|918 Paramount Parkway
Batavia, IL       |  |  |  | 70    |  | 279   |  | 0                                           |  | 37                                                |  |  |  | 70    |  | 316   |  | 386   |  | (16                                                                 | )
|902 Paramount
Batavia, IL               |  |  |  | 99    |  | 394   |  | 0                                           |  | 34                                                |  |  |  | 99    |  | 428   |  | 527   |  | (23                                                                 | )
|950 Paramount Parkway
Batavia, IL       |  |  |  | 120   |  | 482   |  | 0                                           |  | 20                                                |  |  |  | 120   |  | 502   |  | 622   |  | (27                                                                 | )
|934 Paramount Parkway
Batavia, IL       |  |  |  | 82    |  | 326   |  | 0                                           |  | 18                                                |  |  |  | 82    |  | 344   |  | 426   |  | (18                                                                 | )
|1324-40 Paramount Parkway
Wood Dale, IL |  |  |  | 210   |  | 841   |  | 0                                           |  | 19                                                |  |  |  | 210   |  | 860   |  | 1,070 |  | (45                                                                 | )
|1243-53 Naperville, Dr.
Romeoville, IL  |  |  |  | 526   |  | 2,102 |  | 0                                           |  | 20                                                |  |  |  | 526   |  | 2,122 |  | 2,648 |  | (112                                                                | )

---

|                                         |  |  |  |       |  |        |  | Costs Capitalized
Subsequent to Acquisition |  | Gross Amounts at Which
Carried at Close of Period |   |     |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|---------------------------------------- |  |  |  | ----- |  | ------ |  | ------------------------------------------- |  | ------------------------------------------------- | - | --- |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|1200 Independence Blvd.
Romeoville, IL   |  |  |  | 342   |  | 1,367  |  | 0                                           |  | 15                                                |   |     |  | 342   |  | 1,382  |  | 1,724  |  | (73                                                                 | )
|1277 Naperville Dr.
Romeoville, IL       |  |  |  | 246   |  | 983    |  | 0                                           |  | 18                                                |   |     |  | 246   |  | 1,001  |  | 1,247  |  | (53                                                                 | )
|1265 Naperville Dr.
Romeoville, IL       |  |  |  | 571   |  | 2,285  |  | 1                                           |  | 109                                               |   |     |  | 572   |  | 2,394  |  | 2,966  |  | (122                                                                | )
|1287 Naperville Dr.
Romeoville, IL       |  |  |  | 440   |  | 1,760  |  | 0                                           |  | 18                                                |   |     |  | 440   |  | 1,778  |  | 2,218  |  | (94                                                                 | )
|737 Fargo Ave.
Elk Grove Village, IL     |  |  |  | 460   |  | 1,841  |  | 12                                          |  | 85                                                |   |     |  | 472   |  | 1,926  |  | 2,398  |  | (91                                                                 | )
|3511 W. Greentree Rd.
Milwaukee, WI      |  |  |  | 540   |  | 2,160  |  | 0                                           |  | 225                                               |   |     |  | 540   |  | 2,385  |  | 2,925  |  | (118                                                                | )
|951 Fargo Ave.
Elk Grove Village, IL     |  |  |  | 954   |  | 2,470  |  | 0                                           |  | 1,559                                             |   |     |  | 954   |  | 4,029  |  | 4,983  |  | (159                                                                | )
|6736 W. Washington
West Allis, WI        |  |  |  | 814   |  | 3,585  |  | 3                                           |  | 101                                               |   |     |  | 817   |  | 3,686  |  | 4,503  |  | (204                                                                | )
|301 E. Vienna
Milwaukee, WI              |  |  |  | 1,005 |  | 4,022  |  | 22                                          |  | (5                                                | ) |     |  | 1,027 |  | 4,017  |  | 5,044  |  | (189                                                                | )
|3602 N. Kennicott
Arlington Heights, IL  |  |  |  | 515   |  | 3,735  |  | 11                                          |  | 37                                                |   |     |  | 526   |  | 3,772  |  | 4,298  |  | (149                                                                | )
|317 W. Lake St.
Northlake, IL            |  |  |  | 2,735 |  | 10,940 |  | 0                                           |  | 910                                               |   |     |  | 2,735 |  | 11,850 |  | 14,585 |  | (485                                                                | )
|1500 W. Thorndale Ave.
Itasca, IL        |  |  |  | 328   |  | 1,312  |  | 0                                           |  | 81                                                |   |     |  | 328   |  | 1,393  |  | 1,721  |  | (41                                                                 | )
|10801 W. Irving Park Rd
Chicago, IL      |  |  |  | 0     |  | 7,553  |  | 0                                           |  | 0                                                 |   | 159 |  | 0     |  | 7,712  |  | 7,712  |  | (317                                                                | )
|3450 W. Touhy
Skokie, IL                 |  |  |  | 970   |  | 3,881  |  | 0                                           |  | 143                                               |   |     |  | 970   |  | 4,024  |  | 4,994  |  | (147                                                                | )
|11100 W. Silver Spring Rd.
Milwaukee, WI |  |  |  | 986   |  | 3,945  |  | 0                                           |  | 47                                                |   |     |  | 986   |  | 3,992  |  | 4,978  |  | (140                                                                | )
|7525 West Industrial Dr.
Forest Park, IL |  |  |  | 260   |  | 1,040  |  | 0                                           |  | 57                                                |   |     |  | 260   |  | 1,097  |  | 1,357  |  | (37                                                                 | )
|875 Diggins St.
Harvard, IL              |  |  |  | 788   |  | 3,154  |  | 41                                          |  | 506                                               |   |     |  | 829   |  | 3,660  |  | 4,489  |  | (114                                                                | )
|3400 West Pratt
Lincolnwood, IL          |  |  |  | 1,638 |  | 6,554  |  | 22                                          |  | 3,267                                             |   |     |  | 1,660 |  | 9,821  |  | 11,481 |  | (260                                                                | )
|5200 Proviso Drive
Melrose Park, IL      |  |  |  | 52    |  | 208    |  | 0                                           |  | 234                                               |   |     |  | 52    |  | 442    |  | 494    |  | (13                                                                 | )
|5000 Proviso Drive
Melrose Park, IL      |  |  |  | 2,809 |  | 11,236 |  | 0                                           |  | 739                                               |   |     |  | 2,809 |  | 11,975 |  | 14,784 |  | (384                                                                | )
|4700 Proviso Drive
Melrose Park, IL      |  |  |  | 3,168 |  | 12,673 |  | 0                                           |  | 265                                               |   |     |  | 3,168 |  | 12,938 |  | 16,106 |  | (408                                                                | )

---

|                                              |  |       |  |       |  |        |  | Costs Capitalized
Subsequent to Acquisition |  | Gross Amounts at Which
Carried at Close of Period |   |       |  |       |  |        |  |        |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |  
|--------------------------------------------- |  | ----- |  | ----- |  | ------ |  | ------------------------------------------- |  | ------------------------------------------------- | - | ----- |  | ----- |  | ------ |  | ------ |  | ------------------------------------------------------------------- | -
|
|
|10700 Waveland Avenue
Franklin Park, IL       |  |       |  | 686   |  | 2,746  |  | 0                                           |  | 32                                                |   |       |  | 686   |  | 2,778  |  | 3,464  |  | (81                                                                 | )
|5700 McDermott
Berkeley, IL                   |  | 836   |  | 270   |  | 1,080  |  | 0                                           |  | 530                                               |   |       |  | 270   |  | 1,610  |  | 1,880  |  | (79                                                                 | )
|7000 Monroe St
Willowbrook, IL                |  |       |  | 1,153 |  | 3,013  |  | 0                                           |  | 0                                                 |   |       |  | 1,153 |  | 3,013  |  | 4,166  |  | (81                                                                 | )
|16750 South Vincennes
South Holland, IL       |  | 4,135 |  | 1,178 |  | 4,710  |  | 0                                           |  | 276                                               |   |       |  | 1,178 |  | 4,986  |  | 6,164  |  | (126                                                                | )
|9700 S. Harlem Ave
Bridgeview, IL             |  |       |  | 576   |  | 2,304  |  | 0                                           |  | 56                                                |   |       |  | 576   |  | 2,360  |  | 2,936  |  | (62                                                                 | )
|1810-1850 Northwestern Ave
Gurnee, IL         |  |       |  | 822   |  | 3,289  |  | 0                                           |  | 42                                                |   |       |  | 822   |  | 3,331  |  | 4,153  |  | (88                                                                 | )
|3841 Swanson Court
Gurnee, IL                 |  |       |  | 623   |  | 2,493  |  | 0                                           |  | 55                                                |   |       |  | 623   |  | 2,548  |  | 3,171  |  | (67                                                                 | )
|6600 Industrial Drive
Milwaukee, WI           |  |       |  | 500   |  | 2,000  |  | 0                                           |  | 215                                               |   |       |  | 500   |  | 2,215  |  | 2,715  |  | (50                                                                 | )
|1221 Grandview Parkway
Yorkville, WI          |  |       |  | 660   |  | 2,641  |  | 0                                           |  | 12                                                |   |       |  | 660   |  | 2,653  |  | 3,313  |  | (49                                                                 | )
|8877 Union Center Road
West Chester, OH       |  |       |  | 5,579 |  | 37,577 |  | 0                                           |  | 42                                                |   |       |  | 5,579 |  | 37,619 |  | 43,198 |  | (1,792                                                              | )
|500 Wall Street
Glendale Heights, IL          |  |       |  | 1,610 |  | 6,440  |  | 0                                           |  | 148                                               |   |       |  | 1,610 |  | 6,588  |  | 8,198  |  | (121                                                                | )
|44-80 Old Higgins Road
Des Plaines, IL        |  |       |  | 303   |  | 1,213  |  | 0                                           |  | 33                                                |   |       |  | 303   |  | 1,246  |  | 1,549  |  | (23                                                                 | )
|1000 Knell Drive
Montgomery, IL               |  |       |  | 280   |  | 6,643  |  | 0                                           |  | 414                                               |   |       |  | 280   |  | 7,057  |  | 7,337  |  | (110                                                                | )
|155 - 175 Armstrong Court
Des Plaines, IL     |  |       |  | 174   |  | 696    |  | 0                                           |  | 20                                                |   |       |  | 174   |  | 716    |  | 890    |  | (6                                                                  | )
|115 W. Lake Street
Glendale Heights, IL       |  |       |  | 667   |  | 2,552  |  | 0                                           |  | 856                                               |   |       |  | 667   |  | 3,408  |  | 4,075  |  | (22                                                                 | )
|1001 Busse Road
Elk Grove Village, IL         |  |       |  | 1,600 |  | 6,401  |  | 0                                           |  | 82                                                |   |       |  | 1,600 |  | 6,483  |  | 8,083  |  | (34                                                                 | )
|600 W. Irving Park Road
Bensenville, IL 60106 |  |       |  | 163   |  | 652    |  | 0                                           |  | 144                                               |   |       |  | 163   |  | 796    |  | 959    |  | (4                                                                  | )
|145 Tower Road
Burr Ridge, IL                 |  |       |  | 463   |  | 1,851  |  | 0                                           |  | 5                                                 |   |       |  | 463   |  | 1,856  |  | 2,319  |  | (5                                                                  | )
|Construction In Progress:                     |  |       |  |       |  |        |  |                                             |  |                                                   |   |       |  |       |  |        |  |        |  |                                                                     |  
|5480 W. 70th
Bedford Park, IL                 |  |       |  | 475   |  | 4      |  | 0                                           |  | (4                                                | ) |       |  | 475   |  |        |  | 475    |  | 0                                                                   |  
|521 E. North Ave
Glendale Heights, IL         |  |       |  | 4,671 |  |        |  | 69                                          |  | 0                                                 |   |       |  | 4,740 |  |        |  | 4,740  |  | 0                                                                   |  
|Joliet Arsenal
Joliet, IL                     |  |       |  |       |  | 24,418 |  | 0                                           |  | 32,016                                            |   | 1,197 |  |       |  | 57,631 |  | 57,631 |  | 0                                                                   |  

---

|                                              |  |   |           |  |   |         |  | Costs Capitalized
Subsequent to Acquisition |         | Gross Amounts at Which
Carried at Close of Period |   |      |   |   |         |   |   |       |  | Life Upon
Which
Depreciation
In Latest
Income
Statement Is
Computed |        
|--------------------------------------------- |  | - | --------- |  | - | ------- |  | ------------------------------------------- | ------- | ------------------------------------------------- | - | ---- | - | - | ------- | - | - | ----- |  | ------------------------------------------------------------------- | -------
|
|
|Retail Properties:                            |  |   |           |  |   |         |  |                                             |         |                                                   |   |      |   |   |         |   |   |       |  |                                                                     |        
|100 Old McHenry Road
Wheeling, IL             |  |   |           |  |   | 482     |  |                                             | 2,152   |                                                   |   | 0    |   |   | 55      |   |   |       |  |                                                                     | 482    
|351 N. Rohlwing Road
Itasca, IL               |  |   |           |  |   | 81      |  |                                             | 464     |                                                   |   | 1    |   |   | 0       |   |   |       |  |                                                                     | 82     
|4-48 Barrington Road
Streamwood, IL           |  |   |           |  |   | 573     |  |                                             | 2,297   |                                                   |   | (62  | ) |   | 144     |   |   |       |  |                                                                     | 511    
|Offices of the Management Company
Chicago, IL |  |   |           |  |   | 675     |  |                                             | 15,918  |                                                   |   | (526 | ) |   | (5,812  | ) |   | 513   |  |                                                                     | 149    
|                                              |  |   |           |  |   |         |  |                                             |         |                                                   |   |      |   |   |         |   |   |       |  |                                                                     |        
|Sub-totals                                    |  | $ | 59,091.00 |  | $ | 162,644 |  | $                                           | 719,960 |                                                   | $ | 412  |   | $ | 196,087 |   | $ | 5,709 |  | $                                                                   | 163,056
|                                              |  |   |           |  |   |         |  |                                             |         |                                                   |   |      |   |   |         |   |   |       |  |                                                                     |        
|Assets Held for Sale                          |  |   |           |  |   |         |  |                                             |         |                                                   |   |      |   |   |         |   |   |       |  |                                                                     |        
|440 North Lake Street
Miller, IN              |  |   | 17,356    |  |   | 711     |  |                                             | 3,086   |                                                   |   | 101  |   |   | 19,463  |   |   | 3,980 |  |                                                                     | 812    
|Totals                                        |  | $ | 76,447    |  | $ | 163,355 |  | $                                           | 723,046 |                                                   | $ | 513  |   | $ | 215,550 |   | $ | 9,689 |  | $                                                                   | 163,868
|                                              |  |   |           |  |   |         |  |                                             |         |                                                   |   |      |   |   |         |   |   |       |  |                                                                     |        

---

CENTERPOINT PROPERTIES TRUST AND SUBSIDIARIES        SCHEDULE III (Continued)        (Dollars in thousands)

Notes to Schedule III:

Reconciliation of Real Estate

Year Ended December 31,2000

1999

1998Balance at the beginning of year

$
971,897

$
768,857

$
662,275Additions


207,184


256,264


143,342Dispositions


(94,269
)

(53,224
)

(36,760
)Balance at close of year

$
1,084,812

$
971,897

$
768,857


Reconciliation of Accumulated Depreciation and Amortization

Year Ended December 31,2000

1999

1998Balance at beginning of year

$
85,408

$
62,257

$
44,352Depreciation and amortization


30,529


25,485


20,151Dispositions


(6,917
)

(2,334
)

(2,246
)Balance at close of year

$
109,020

$
85,408

$
62,257


Buildings, improvements and carrying costs

31.5 to 40 yearsLand improvements

15 yearsFurniture, fixtures and equipment

4 to 15 years


---



SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

| |  | CENTERPOINT PROPERTIES TRUST,a Maryland business trust
| |  | ------------------------------------------------------
| |  | By:                                                   

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