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                          SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C.  20549

                               -----------------------

                                     FORM 10-K/A
                                   AMENDMENT NO. 1

(MARK ONE)

/X/  ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND
     EXCHANGE ACT OF 1934
                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 1997, OR

/ /  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
             FOR THE TRANSITION PERIOD FROM _______________ TO ______________
                            COMMISSION FILE NUMBER 1-13531

                               -----------------------

                                TRAMMELL CROW COMPANY
                (Exact name of registrant as specified in its charter)


                  DELAWARE                                      75-2721454
      (State or other jurisdiction of                         (IRS Employer
       Incorporation or organization)                     Identification Number)
             2001 ROSS AVENUE
                SUITE 3400
               DALLAS, TEXAS                                      75201
 (Address of principal executive officers)                     (Zip Code)


                                    (214) 863-3000
                 (Registrant's Telephone Number, Including Area Code)
             Securities registered pursuant to section 12(b) of the Act:


                                                 NAME OF EACH EXCHANGE ON
          TITLE OF EACH CLASS                        WHICH REGISTERED
          -------------------                    ------------------------
     Common Stock, $.01 par value                New York Stock Exchange

             Securities registered pursuant to Section 12(g) of the Act:
                                         NONE
                                   (Title of Class)

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes /X/    No / /

     Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. / /

     At March 24, 1998, there were 33,911,416 shares of Common Stock outstanding
with an aggregate market value on that date of $965,413,929, based upon the
average of the low bid and high asked price of Common Stock on the New York
Stock Exchange on such date. As of the same date 20,163,235 shares of Common
Stock were held by non-affiliates of the Company, having an aggregate market
value on that date of $574,021,088. 

                         DOCUMENTS INCORPORATED BY REFERENCE

     Portions of the registrant's Proxy Statement to be furnished to
stockholders in connection with its 1998 Annual Meeting of Stockholders are
incorporated by reference in Part III of this Report.

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                                       PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

(a)(1)         The financial statements filed as part of this Report at Item 8
               are listed in the List of Financial Statements and Financial
               Statement Schedule on page F-2 of this Report. 

(a)(2)         The financial statement schedule filed as part of this Report at
               Item 8 is listed in the List of Financial Statements and
               Financial Statement Schedule on page F-2 of this Report. 

(a)(3)         The following documents are filed or incorporated by reference as
               exhibits to this Report: 

     2.1*      Agreement and Plan of Merger dated August 22, 1997, among the
               Company, the Predecessor Company, TCC Merger Sub, Inc. and
               certain other parties thereto

     2.2*      First Amendment to Agreement and Plan of Merger dated as of
               November 22, 1997

     2.3**     Stock Purchase Agreement dated as of March 16, 1998 by and among
               the Company, BCB Holdings, LLC, Tooley & Company, Inc., William
               L. Tooley and Craig Ruth

     3.1*      Certificate of Incorporation of the Company

     3.2*      Bylaws of the Company

     4.1*      Form of certificate for shares of Common Stock of the Company

     10.1*     Credit Agreement dated August 18, 1997, among the Company,
               Bankers Trust Company and the lenders listed therein

     10.2*     Form of License Agreement among the Company and CFH

     10.3*     Form of Indemnification Agreement, with schedule of signatures

     10.4*     Predecessor Company's 1997 Stock Option Plan

     10.5*     Company's Long-Term Incentive Plan

     10.6*     Company's 1995 Profit Sharing Plan

     10.7*     Acquisition Agreement dated August 15, 1997, among the Company,
               TCRS, Doppelt and Jeffrey J. Doppelt

     10.8*     Subordinated Promissory Note dated August 22, 1997, between the
               Company and Doppelt

     10.9*     Stockholders' Agreement dated August 22, 1997, among TCRS, the
               Company, Doppelt and Jeffrey J. Doppelt

     10.10*    Form of Stockholders' Agreement among the Company, Crow Family
               Partnership L.P., CFH Trade-Names, L.P., J. McDonald Williams and
               certain other signatories thereto

     10.12     Credit Agreement dated December 1, 1997, between the Company and
               NationsBank of Texas, N.A.

     21.1*     Subsidiaries of the Company

     24.1**    Power of Attorney for J. McDonald Williams

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     24.2**    Power of Attorney for William F. Concannon

     24.3**    Power of Attorney for James D. Carreker

     24.4**    Power of Attorney for James R. Erwin

     24.5**    Power of Attorney for Jeffrey M. Heller

     24.6**    Power of Attorney for Rowland T. Moriarity

     24.7**    Power of Attorney for Robert E. Sulentic

     27.1**    Financial Data Schedule

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*    Previously filed as an exhibit to the Company's Registration Statement on
     Form S-1 (File Number 333-34859) filed with the Securities and Exchange
     Commission on September 3, 1997 and incorporated herein by reference. 

**   Previously filed as an exhibit to the Company's annual report on Form 10-K
     for the fiscal year ended December 31, 1997.

     (b)  Reports on Form 8-K 

          During the last quarter of the Company's fiscal year ended December
          31, 1997, no reports on Form 8-K were filed with the Securities and
          Exchange Commission by the Company. 

     (c)  The exhibits required by Item 601 of Regulation S-K are filed as part
          of this Report. 

     (d)  The required financial statements and financial schedule are filed as
          part of this Report.

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                                      SIGNATURE

     Pursuant to the requirements of Rule 12b-15 of the Securities Exchange Act
of 1934, the registrant has duly caused this Amendment No. 1 to Form 10-K/A to
be signed on its behalf by the undersigned, thereunto duly authorized. 

                                   TRAMMELL CROW COMPANY



                                   By:      /s/ DEREK R. MCCLAIN
                                      ------------------------------------
                                               DEREK R. MCCLAIN
                                           EXECUTIVE VICE PRESIDENT


Date:  July 2, 1998