<PAGE>   1
                                                                    Exhibit 4.17

                                 [FACE OF NOTE]

                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

No. 001                                                         Principal Amount
CUSIP No. 268766 BF8                                                $200,000,000

     UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO
SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC, ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

     UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO
A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR BY
DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR.

     THIS NOTE WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM
DENOMINATIONS OF $1,000 AND INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF.

     EOP Operating Limited Partnership, a Delaware limited partnership (the
"Issuer," which term includes any successor under the Indenture hereinafter
referred to), for value received, hereby promises to pay to Cede & Co. or
registered assigns, the principal sum of Two Hundred Million Dollars on January
15, 2009 (the "Stated Maturity Date"), (or any Redemption Date, as defined on
the reverse hereof) or any earlier date of acceleration of maturity, (each such
date being referred to as the "Maturity Date" with respect to the principal
repayable on such date) and to pay interest thereon from January 26, 1999 (or
from the most recent Interest Payment Date (as defined below) to which interest
has been paid or duly provided for), semiannually in arrears on July 15 and
January 15 of each year, commencing on July 15, 1999 (each, an "Interest
Payment Date"), and on the Maturity Date, at a rate of 6.8% per annum, until
payment of said principal sum has been made or duly provided for. Interest on
this Note will be computed on the basis of a 360-day year of twelve 30-day
months.

     The interest so payable and punctually paid or duly provided for on an
Interest Payment Date will, subject to certain exceptions described below, be
paid to the Holder in whose name this Note (or one or more predecessor Notes) is
registered at the close of business on the "Regular Record Date" for such
payment, which will be the date 15 calendar days (regardless of whether such day
is a Business Day (as defined below)) next preceding such Interest Payment Date.
Any interest not so punctually paid or duly provided for on an Interest Payment
Date ("Defaulted Interest") shall forthwith cease to be
<PAGE>   2
payable to the Holder on such Regular Record Date, and shall be paid to the
Holder in whose name this Note (or one or more predecessor Notes) is
registered at the close of business on a special record date (the "Special
Record Date") for the payment of such Defaulted Interest to be fixed by the
Trustee hereinafter referred to, notice whereof shall be given to the Holder of
this Note by the Trustee not less than 10 calendar days prior to such Special
Record Date or may be paid at any time in any other lawful manner, all as more
fully provided for in the Indenture.

     The principal of and Make-Whole Amount, if any, with respect to this Note
payable on the Maturity Date will be paid against presentation and surrender of
this Note at the office or agency of the Issuer maintained for that purpose in
Boston, Massachusetts with a drop facility maintained in New York, New York.
The Issuer hereby initially designates the Corporate Trust Office of the
Trustee in Boston, Massachusetts as the office to be maintained by it where
Notes may be presented for payment, registration of transfer, or exchange and
where notices or demands to or upon the Issuer in respect of the Notes or the
Indenture may be served.

     Interest payable on this Note on any Interest Payment Date and on the
Maturity Date, as the case may be, will be the amount of interest accrued
during the applicable Interest Period (as defined below).

     An "Interest Period" is each period from and including the immediately
preceding Interest Payment Date (or from and including January 26, 1999, in the
case of the initial Interest Period) to but excluding the applicable Interest
Payment Date or the Maturity Date, as the case may be. If any Interest Payment
Date or Maturity Date falls on a day that is not a Business Day, principal,
Make-Whole Amount, if any, and interest payable on such date will be paid on
the succeeding Business Day with the same force and effect as if it were paid
on the date such payment was due, and no interest will accrue on the amount so
payable for the period from and after such date to such succeeding Business
Day. "Business Day" means any day, other than a Saturday or a Sunday, on which
banking institutions in New York, New York and Boston, Massachusetts are not
required or authorized by law or executive order to close.

     Payments of principal, Make-Whole Amount, if any, and interest in respect
of this Note will be made by U.S. dollar check or by wire transfer (such a wire
transfer to be made only to a Holder of an aggregate principal amount of Notes
in excess of $10,000,000, and only if such Holder shall have furnished wire
instructions in writing to the Trustee no later than 15 days prior to the
relevant payment date and acknowledged that a wire transfer fee shall be
payable) of immediately available funds in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of
public and private debts.

     Reference is made to the further provisions of this Note set forth on the
reverse hereof. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place. Capitalized terms used herein,
including on the reverse hereof, and not defined herein or on the reverse
hereof shall have the respective meanings given to such terms in the Indenture.

     This Note shall not be entitled to the benefits of the Indenture or be
valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been signed by the Trustee.

                                       2
<PAGE>   3
     IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually
or by facsimile by duly authorized officers of the General Partner.

Dated: January 26, 1999       EOP OPERATING LIMITED PARTNERSHIP,
                                as Issuer

                              By:  EQUITY OFFICE PROPERTIES TRUST, not
                                   individually but as Managing General Partner

                                   By:  /s/ Richard D. Kincaid
                                        ---------------------------------------
                                        Richard D. Kincaid
                                   Its: Executive Vice President and
                                        Chief Financial Officer

                              and  By:  /s/ Stanley M. Stevens
                                        ---------------------------------------
                                        Stanley M. Stevens
                                   Its: Executive Vice President and
                                        Chief Legal Counsel


                    TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Notes of the series designated herein referred to in the
within-mentioned Indenture.

Dated: January 26, 1999            STATE STREET BANK AND TRUST COMPANY,
                                     as Trustee

                                   By:  /s/
                                        ---------------------------------------
                                        Authorized Officer


                                       3
<PAGE>   4
                               [REVERSE OF NOTE]
                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

     This Note is one of a duly authorized issue of senior Notes of the Issuer
(hereinafter called the "Notes") of the series hereinafter specified, all issued
or to be issued under and pursuant to an Indenture dated as of September 2, 1997
(as amended, the "Indenture"), duly executed and delivered by the Issuer to
State Street Bank and Trust Company, as Trustee (herein called the "Trustee,"
which term includes any successor trustee under the Indenture with respect to
the series of Notes of which this Note is a part), to which Indenture and all
indentures supplemental thereto reference is hereby made for a description of
the rights, limitations of rights, obligations, duties and immunities thereunder
of the Trustee, the Issuer, and the Holders of the Notes, and of the terms upon
which the Notes are, and are to be, authenticated and delivered. The Notes may
be issued in one or more series, which different series may be issued in various
aggregate principal amounts, may mature at different times, may bear interest
(if any) at different rates, may be subject to different redemption provisions
(if any), and may otherwise vary as provided in the Indenture. This Note is one
of a series designated as the 6.8% Notes due 2009 of the Issuer (the "Notes"),
limited in aggregate principal amount to $500,000,000, subject to the provisions
in the Indenture.

     In case an Event of Default with respect to the Notes shall have occurred
and be continuing, the principal hereof and Make-Whole Amount (if any) may be
declared, and upon such declaration shall become, due and payable, in the
manner, with the effect, and subject to the conditions provided in the
Indenture.

     The Issuer may redeem this Note, at any time in whole or from time to time
in part, at the election of the Issuer, at a redemption price equal to the sum
of (i) the principal amount being redeemed plus accrued interest thereon to the
date fixed for redemption (the "Redemption Date") and (ii) the Make-Whole Amount
with respect hereto (the "Redemption Price"); provided, however, that interest
installments due on an Interest Payment Date which is on or prior to the
Redemption Date will be payable to the Holder hereof (or one or more predecessor
Notes) as of the close of business on the Record Date preceding such Interest
Payment Date. If notice has been given as provided in the Indenture and funds
for the redemption of this Note or any part thereof called for redemption shall
have been made available on the Redemption Date, this Note or such part thereof
will cease to bear interest on the Redemption Date referred to in such notice
and the only right of the Holder will be to receive payment of the Redemption
Price. Notice of any optional redemption of any Notes will be given to the
Holder hereof (in accordance with the provisions of the Indenture), not more
than 60 nor less than 30 days prior to the Redemption Date. In the event of
redemption of this Note in part only, a new Note of like tenor for the
unredeemed portion hereof and otherwise having the same terms and provisions as
this Note shall be issued by the Issuer in the name of the Holder hereof upon
the presentation and surrender hereof.

     The Indenture contains provisions for defeasance of (i) the entire
indebtedness of the Notes or (ii) certain covenants and Events of Default with
respect to the Notes, in each case upon compliance with certain conditions set
forth therein, which provisions apply to the Notes.

                                       4
<PAGE>   5
     The Indenture contains provisions permitting the Issuer and the Trustee,
with the consent of the Holders of not less than a majority of the aggregate
principal amount of the Notes at the time Outstanding of all series to be
affected (voting as one class), evidenced as provided in the Indenture, to
execute supplemental indentures adding any provisions to or changing in any
manner or eliminating any of the provisions of the Indenture or of any
supplemental indenture or modifying in any manner the rights of the Holders of
the Notes of each series; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Note at the time
Outstanding so affected, (i) change the final maturity of any Note, or reduce
the principal amount thereof or any premium or Make-Whole Amount thereon, if
any, or reduce the rate or extend the time of payment of any interest thereon,
or impair or affect the rights of any Holder to institute suit for the payment
on any Note, or (ii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any such supplemental
indenture, or (iii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any waiver of compliance
with certain provisions of the Indenture or any waiver of certain defaults
thereunder. It is also provided in the Indenture that, with respect to certain
defaults or Events of Default regarding the Notes of any series, the Holders of
a majority in aggregate principal amount Outstanding of the Notes of such
series (or, in the case of certain defaults or Events of Default, all series of
Notes) may on behalf of the Holders of all the Notes of such series (or all of
the Notes, as the case may be) waive any such past default or Event of Default
and its consequences, prior to any declaration accelerating the maturity of
such Notes, or, subject to certain conditions, may rescind a declaration of
acceleration and its consequences with respect to such Notes. The preceding
sentence shall not, however, apply to a default in or Event of Default relating
to, the payment of the principal of or premium or Make-Whole Amount, if any, or
interest on any of the Notes or in respect of a covenant or provision contained
in the Indenture that cannot be modified or amended without the consent of the
Holders of each Note at the time Outstanding affected thereby. Any such
consent or waiver by the Holder of this Note (unless revoked as provided in the
Indenture) shall be conclusive and binding upon such Holder and upon all future
Holders and owners of this Note and any Notes that may be issued in exchange or
substitution herefor, irrespective of whether or not any notation thereof is
made upon this Note or such other Notes.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and any Make-Whole Amount
and interest on this Note in the manner, at the respective times, at the rate
and in the coin or currency herein prescribed.

     This Note is issuable only in registered form without coupons in
denominations of U.S. $1,000 and integral multiples of $1,000 in excess
thereof. Notes may be exchanged for a like aggregate principal amount of Notes
of this series of other authorized denominations at the office or agency of the
Issuer in Boston, Massachusetts, in the manner and subject to the limitations
provided herein and in the Indenture, but without the payment of any service
charge except for any tax or other governmental charge imposed in connection
therewith.

                                       5

<PAGE>   6
     Upon due presentment for registration of transfer of this Note at the
office or agency of the Issuer in Boston, Massachusetts, one or more new Notes
of authorized denominations in an equal aggregate principal amount will be
issued to the transferee in exchange therefor, subject to the limitations
provided in the Indenture, but without the payment of any service charge except
for any tax or other governmental charge imposed in connection therewith.

     This Note is not subject to a sinking fund requirement.

     No recourse under or upon any obligation, covenant or agreement contained
in the Indenture, or any Note, or because of any indebtedness evidenced hereby
or thereby (including, without limitation, any obligation or indebtedness
relating to the principal of, or premium or Make-Whole Amount, if any, interest
or any other amounts due, or claimed to be due, on this Note), or for any claim
based thereon or otherwise in respect thereof, shall be had (i) against the
General Partner or any other partner, or any Person which owns an interest,
directly or indirectly, in any partner, in the Issuer, or (ii) against any
promoter, as such, or against any past, present or future shareholder, officer,
trustee or partner, as such, of the Issuer or the General Partner or of any
successor, either directly or through the Issuer or the General Partner or any
successor, under any rule of law, statute or constitutional provision or by the
enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the
acceptance hereof and as part of the consideration for the issue hereof.

     Prior to due presentation of this Note for registration of transfer, the
Issuer, the Trustee, and any authorized agent of the Issuer or the Trustee may
deem and treat the Person in whose name this Note is registered as the absolute
owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon), for the
purpose of receiving payment of, or on account of, the principal hereof and
Make-Whole Amount, if any, and subject to the provisions herein and on the face
hereof, interest hereon, and for all other purposes, and neither the issuer nor
the Trustee nor any authorized agent of the Issuer or the Trustee shall be
affected by any notice to the contrary, except as required by law.

     The indenture and this Note shall be governed by and construed in
accordance with the law of the State of New York, United States of America
without regard to the principles of conflicts of laws.


                                       6

<PAGE>   7
                  ASSIGNMENT FORM AND CERTIFICATE OF TRANSFER

     To assign this Note fill in the form below:

     (I) or (we) assign and transfer this Note to

________________________________________________________________________________
    (Insert assignee's social security or tax identification number, if any)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
             (Print or type assignee's name, address and zip code)

     Your signature: ___________________________________________________________
       (Sign exactly as your name appears on the other side of this Note)

     Date: ________________________________________

     Signature Guarantee:* ________________________




_________________________
* Signature must be guaranteed by a commercial bank, trust company or member
  firm or a major stock exchange

                                       7

<PAGE>   8
                                 [FACE OF NOTE]

                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

No. 002                                                         Principal Amount
CUSIP No. 268766 BF8                                                $200,000,000

     UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO., OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC,
ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

     UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO
A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR
BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR.

     THIS NOTE WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM
DENOMINATIONS OF $1,000 AND INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF.

     EOP Operating Limited Partnership, a Delaware limited partnership (the
"Issuer," which term includes any successor under the Indenture hereinafter
referred to), for value received, hereby promises to pay to Cede & Co., or
registered assigns, the principal sum of Two Hundred Million Dollars on January
15, 2009 (the "Stated Maturity Date"), (or any Redemption Date, as defined on
the reverse hereof) or any earlier date of acceleration of maturity, (each such
date being referred to as the "Maturity Date" with respect to the principal
repayable on such date) and to pay interest thereon from January 26, 1999 (or
from the most recent Interest Payment Date (as defined below) to which interest
has been paid or duly provided for), semiannually in arrears on July 15 and
January 15 of each year, commencing on July 15, 1999 (each, an "Interest
Payment Date"), and on the Maturity Date, at a rate of 6.8% per annum, until
payment of said principal sum has been made or duly provided for. Interest on
this Note will be computed on the basis of a 360-day year of twelve 30-day
months.

     The interest so payable and punctually paid or duly provided for on an
Interest Payment Date will, subject to certain exceptions described below, be
paid to the Holder in whose name this Note (or one or more predecessor Notes)
is registered at the close of business on the "Regular Record Date" for such
payment, which will be the date 15 calendar days (regardless of whether such
day is a Business Day (as defined below)) next preceding such Interest Payment
Date. Any interest not so punctually paid or duly provided for on an Interest
Payment Date ("Defaulted Interest") shall forthwith cease to be

<PAGE>   9
payable to the Holder on such Regular Record Date, and shall be paid to the
Holder in whose name this Note (or one or more predecessor Notes) is registered
at the close of business on a special record date (the "Special Record Date")
for the payment of such Defaulted Interest to be fixed by the Trustee
hereinafter referred to, notice whereof shall be given to the Holder of this
Note by the Trustee not less than 10 calendar days prior to such Special Record
Date or may be paid at any time in any other lawful manner, all as more fully
provided for in the Indenture.

     The principal of and Make-Whole Amount, if any, with respect to this Note
payable on the Maturity Date will be paid against presentation and surrender of
this Note at the office or agency of the Issuer maintained for that purpose in
Boston, Massachusetts with a drop facility maintained in New York, New York. The
Issuer hereby initially designates the Corporate Trust Office of the Trustee in
Boston, Massachusetts as the office to be maintained by it where Notes may be
presented for payment, registration of transfer, or exchange and where notices
or demands to or upon the Issuer in respect of the Notes or the Indenture may be
served.

     Interest payable on this Note on any Interest Payment Date and on the
Maturity Date, as the case may be, will be the amount of interest accrued
during the applicable Interest Period (as defined below).

     An "Interest Period" is each period from and including the immediately
preceding Interest Payment Date (or from and including January 26, 1999, in the
case of the initial Interest Period) to but excluding the applicable Interest
Payment Date or the Maturity Date, as the case may be. If any Interest Payment
Date or Maturity Date falls on a day that is not a Business Day, principal,
Make-Whole Amount, if any, and interest payable on such date will be paid on
the succeeding Business Day with the same force and effect as if it were paid
on the date such payment was due, and no interest will accrue on the amount so
payable for the period from and after such date to such succeeding Business
Day. "Business Day" means any day, other than a Saturday or Sunday, on which
banking institutions in New York, New York and Boston, Massachusetts are not
required or authorized by law or executive order to close.

     Payments of principal, Make-Whole Amount, if any, and interest in respect
of this Note will be made by U.S. dollar check or by wire transfer (such a wire
transfer to be made only to a Holder of an aggregate principal amount of Notes
in excess of $10,000,000, and only if such Holder shall have furnished wire
instructions in writing to the Trustee no later than 15 days prior to the
relevant payment date and acknowledged that a wire transfer fee shall be
payable) of immediately available funds in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of
public and private debts.

     Reference is made to the further provisions of this Note set forth on the
reverse hereof. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place. Capitalized terms used herein,
including on the reverse hereof, and not defined herein or on the reverse
hereof shall have the respective meanings given to such terms in the Indenture.

     This Note shall not be entitled to the benefits of the Indenture or be
valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been signed by the Trustee.


                                       2

<PAGE>   10
     IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually
or by facsimile by duly authorized officers of the General Partner.

Dated: January 26, 1999       EOP OPERATING LIMITED PARTNERSHIP,
                                as Issuer

                              By:  EQUITY OFFICE PROPERTIES TRUST, not
                                   individually but as Managing General Partner

                                   By:  /s/ Richard D. Kincaid
                                        ---------------------------------------
                                        Richard D. Kincaid
                                   Its: Executive Vice President and
                                        Chief Financial Officer


                              and  By:  /s/ Stanley M. Stevens
                                        ---------------------------------------
                                        Stanley M. Stevens
                                   Its: Executive Vice President and
                                        Chief Legal Counsel


                    TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Notes of the series designated herein referred to in the
within-mentioned Indenture.

Dated: January 26, 1999       STATE STREET BANK AND TRUST COMPANY,
                                as Trustee

                                   By:  /s/
                                        ---------------------------------------
                                        Authorized Officer


                                       3
<PAGE>   11
                               [REVERSE OF NOTE]
                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

     This Note is one of a duly authorized issue of senior Notes of the Issuer
(hereinafter called the "Notes") of the series hereinafter specified, all
issued or to be issued under and pursuant to an indenture dated as of September
2, 1997 (as amended, the "Indenture"), duly executed and delivered by the
Issuer to State Street Bank and Trust Company, as Trustee (herein called the
"Trustee," which term includes any successor trustee under the Indenture with
respect to the series of Notes of which this Note is a part), to which
Indenture and all indentures supplemental thereto reference is hereby made for
a description of the rights, limitations of rights, obligations, duties and
immunities thereunder of the Trustee, the Issuer, and the Holders of the Notes,
and of the terms upon which the Notes are, and are to be, authenticated and
delivered. The Notes may be issued in one or more series, which different
series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject
to different redemption provisions (if any), and may otherwise vary as provided
in the Indenture. This Note is one of a series designated as the 6.8% Notes due
2009 of the Issuer (the "Notes"), limited in aggregate principal amount to
$500,000,000, subject to the provisions in the Indenture.

     In case an Event of Default with respect to the Notes shall have occurred
and be continuing, the principal hereof and Make-Whole Amount (if any) may be
declared, and upon such declaration shall become, due and payable, in the
manner, with the effect, and subject to the conditions provided in the
Indenture.

     The Issuer may redeem this Note, at any time in whole or from time to time
in part, at the election of the Issuer, at a redemption price equal to the sum
of (i) the principal amount being redeemed plus accrued interest thereon to the
date fixed for redemption (the "Redemption Date") and (ii) the Make-Whole
Amount with respect hereto (the "Redemption Price"); provided, however, that
interest installments due on an Interest Payment Date which is on or prior to
the Redemption Date will be payable to the Holder hereof (or one or more
predecessor Notes) as of the close of business on the Record Date preceding
such Interest Payment Date. If notice has been given as provided in the
Indenture and funds for the redemption of this Note or any part thereof called
for redemption shall have been made available on the Redemption Date, this Note
or such part thereof called for redemption shall have been made available on
the Redemption Date, this Note or such part thereof will cease to bear interest
on the Redemption Date referred to in such notice and only the right of the
Holder will be to receive payment of the Redemption Price. Notice of any
optional redemption of any Notes will be given to the Holder hereof (in
accordance with the provisions of the Indenture), not more than 60 nor less
than 30 days prior to the Redemption Date. In the event of redemption of this
Note in part only, a new Note of like tenor for the unredeemed portion hereof
and otherwise having the same terms and provisions as this Note shall be issued
by the Issuer in the name of the Holder hereof upon the presentation and
surrender hereof.

     The Indenture contains provisions for defeasance of (i) the entire
indebtedness of the Notes or (ii) certain covenants and Events of Default with
respect to the Notes, in each case upon compliance with certain conditions set
forth herein, which provisions apply to the Notes.

                                       4
<PAGE>   12
     The Indenture contains provisions permitting the Issuer and the Trustee,
with the consent of the Holders of not less than a majority of the aggregate
principal amount of the Notes at the time Outstanding of all series to be
affected (voting as one class), evidenced as provided in the Indenture, to
execute supplemental indentures adding any provisions to or changing in any
manner or eliminating any of the provisions of the Indenture or of any
supplemental indenture or modifying in any manner the rights of the Holders of
the Notes of each series; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Note at the time
Outstanding so affected, (i) change the final maturity of any Note, or reduce
the principal amount thereof or any premium or Make-Whole Amount thereon, if
any, or reduce the rate or extend the time of payment of any interest thereon,
or impair or affect the rights of any Holder to institute suit for the payment
on any Note, or (ii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any such supplemental
indenture, or (iii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any waiver of compliance
with certain provisions of the Indenture or any waiver of certain defaults
thereunder. It is also provided in the Indenture that, with respect to certain
defaults or Events of Default regarding the Notes of any series, the Holders of
a majority in aggregate principal amount Outstanding of the Notes of such
series (or, in the case of certain defaults or Events of Default, all series of
Notes) may on behalf of the Holders of all the Notes of such series (or all of
the Notes, as the case may be) waive any such past default or Event of Default
and its consequences, prior to any declaration accelerating the maturity of
such Notes, or, subject to certain conditions, may rescind a declaration of
acceleration and its consequences with respect to such Notes. The preceding
sentence shall not, however, apply to a default in or Event of Default relating
to, the payment of the principal of or premium or Make-Whole Amount, if any,
or interest on any of the Notes or in respect of a covenant or provision
contained in the Indenture that cannot be modified or amended without the
consent of the Holders of each Note at the time Outstanding affected thereby.
Any such consent or waiver by the Holder of this Note (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such Holder and
upon all future Holders and owners of this Note and any Notes that may be
issued in exchange or substitution herefor, irrespective of whether or not any
notation thereof is made upon this Note or such other Notes.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and any Make-Whole Amount
and interest on this Note in the manner, at the respective times, at the rate
and in the coin or currency herein prescribed.

     This Note is issuable only in registered form without coupons in
denominations of U.S. $1,000 and integral multiples of $1,000 in excess
thereof. Notes may be exchanged for a like aggregate principal amount of Notes
of this series of other authorized denominations at the office or agency of the
Issuer in Boston, Massachusetts, in the manner and subject to the limitations
provided herein and in the Indenture, but without the payment of any service
charge except for any tax or other governmental charge imposed in connection
therewith.

                                       5
<PAGE>   13
     Upon due presentment for registration of transfer of this Note at the
office or agency of the Issuer in Boston, Massachusetts, one or more new Notes
of authorized denominations in an equal aggregate principal amount will be
issued to the transferee in exchange therefor, subject to the limitations
provided in the Indenture, but without the payment of any service charge except
for any tax or other governmental charge imposed in connection therewith.

     This Note is not subject to a sinking fund requirement.

     No recourse under or upon any obligation, covenant or agreement contained
in the Indenture, or any Note, or because of any indebtedness evidenced hereby
or thereby (including, without limitation, any obligation or indebtedness
relating to the principal of, or premium or Make-Whole Amount, if any, interest
or any other amounts due, or claimed to be due, on this Note), or for any claim
based thereon or otherwise in respect thereof, shall be had (i) against the
General Partner or any other partner, or any Person which owns an interest,
directly or indirectly, in any partner, in the Issuer, or (ii) against any
promoter, as such, or against any past, present or future shareholder, officer,
trustee or partner, as such, of the Issuer or the General Partner or of any
successor, either directly or through the Issuer or the General Partner or any
successor, under any rule of law, statute or constitutional provision or by the
enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the
acceptance hereof and as part of the consideration for the issue hereof.

     Prior to due presentation of this Note for registration of transfer, the
Issuer, the Trustee, and any authorized agent of the Issuer or the Trustee may
deem and treat the Person in whose name this Note is registered as the absolute
owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon), for the
purpose of receiving payment of, or on account of, the principal hereof and
Make-Whole Amount, if any, and subject to the provisions herein and on the face
hereof, interest hereon, and for all other purposes, and neither the Issuer nor
the Trustee nor any authorized agent of the Issuer or the Trustee shall be
affected by any notice to the contrary, except as required by law.

     The Indenture and this Note shall be governed by and construed in
accordance with the law of the State of New York, United States of America
without regard to the principles of conflicts of laws.

                                       6
<PAGE>   14
                  ASSIGNMENT FORM AND CERTIFICATE OF TRANSFER

     To assign this Note fill in the form below:

     (I) or (we) assign and transfer this Note to

________________________________________________________________________________
    (Insert assignee's social security or tax identification number, if any)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
             (Print or type assignee's name, address and zip code)

     Your signature: ___________________________________________________________
       (Sign exactly as your name appears on the other side of this Note)

     Date: ________________________________________

     Signature Guarantee:* ________________________




_________________________
* Signature must be guaranteed by a commercial bank, trust company or member
  firm or a major stock exchange

                                       7

<PAGE>   15
                                 [FACE OF NOTE]

                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

No. 003                                                         Principal Amount
CUSIP No. 268766 BF8                                                $100,000,000

     UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC AND ANY PAYMENT IS MADE TO CEDE & CO., OR
TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC,
ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

     UNLESS AND UNTIL THIS NOTE IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN
CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY DTC TO
A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO DTC OR ANOTHER NOMINEE OF DTC OR
BY DTC OR ANY SUCH NOMINEE TO A SUCCESSOR OF DTC OR A NOMINEE OF SUCH SUCCESSOR.

     THIS NOTE WILL BE ISSUED AND MAY BE TRANSFERRED ONLY IN MINIMUM
DENOMINATIONS OF $1,000 AND INTEGRAL MULTIPLES OF $1,000 IN EXCESS THEREOF.

     EOP Operating Limited Partnership, a Delaware limited partnership (the
"Issuer," which term includes any successor under the Indenture hereinafter
referred to), for value received, hereby promises to pay to Cede & Co., or
registered assigns, the principal sum of One Hundred Million Dollars on January
15, 2009 (the "Stated Maturity Date"), (or any Redemption Date, as defined on
the reverse hereof) or any earlier date of acceleration of maturity, (each such
date being referred to as the "Maturity Date" with respect to the principal
repayable on such date) and to pay interest thereon from January 26, 1999 (or
from the most recent Interest Payment Date (as defined below) to which interest
has been paid or duly provided for), semiannually in arrears on July 15 and
January 15 of each year, commencing on July 15, 1999 (each, an "Interest
Payment Date"), and on the Maturity Date, at a rate of 6.8% per annum, until
payment of said principal sum has been made or duly provided for. Interest on
this Note will be computed on the basis of a 360-day year of twelve 30-day
months.

     The interest so payable and punctually paid or duly provided for on an
Interest Payment Date will, subject to certain exceptions described below, be
paid to the Holder in whose name this Note (or one or more predecessor Notes)
is registered at the close of business on the "Regular Record Date" for such
payment, which will be the date 15 calendar days (regardless of whether such
day is a Business Day (as defined below)) next preceding such Interest Payment
Date. Any interest not so punctually paid or duly provided for on an Interest
Payment Date ("Defaulted Interest") shall forthwith cease to be

<PAGE>   16
payable to the Holder on such Regular Record Date, and shall be paid to the
Holder in whose name this Note (or one or more predecessor Notes) is registered
at the close of business on a special record date (the "Special Record Date")
for the payment of such Defaulted Interest to be fixed by the Trustee
hereinafter referred to, notice whereof shall be given to the Holder of this
Note by the Trustee not less than 10 calendar days prior to such Special Record
Date or may be paid at any time in any other lawful manner, all as more fully
provided for in the Indenture.

     The principal of and Make-Whole Amount, if any, with respect to this Note
payable on the Maturity Date will be paid against presentation and surrender of
this Note at the office or agency of the Issuer maintained for that
purpose in Boston, Massachusetts with a drop facility maintained in New York,
New York. The Issuer hereby initially designates the Corporate Trust Office of
the Trustee in Boston, Massachusetts as the office to be maintained by it where
Notes may be presented for payment, registration of transfer, or exchange and
where notices or demands to or upon the Issuer in respect of the Notes or the
Indenture may be served.

     Interest payable on this Note on any Interest Payment Date and on the
Maturity Date, as the case may be, will be the amount of interest accrued
during the applicable Interest Period (as defined below).

     An "Interest Period" is each period from and including the immediately
preceding Interest Payment Date (or from and including January 26, 1999, in the
case of the initial Interest Period) to but excluding the applicable Interest
Payment Date or the Maturity Date, as the case may be. If any Interest Payment
Date or Maturity Date falls on a day that is not a Business Day, principal,
Make-Whole Amount, if any, and interest payable on such date will be paid on
the succeeding Business Day with the same force and effect as if it were paid
on the date such payment was due, and no interest will accrue on the amount so
payable for the period from and after such date to such succeeding Business
Day. "Business Day" means any day, other than a Saturday or a Sunday, on which
banking institutions in New York, New York and Boston, Massachusetts are not
required or authorized by law or executive order to close.

     Payments of principal, Make-Whole Amount, if any, and interest in respect
of this Note will be made by U.S. dollar check or by wire transfer (such a wire
transfer to be made only to a Holder of an aggregate principal amount of Notes
in excess of $10,000,000, and only if such Holder shall have furnished wire
instructions in writing to the Trustee no later than 15 days prior to the
relevant payment date and acknowledged that a wire transfer fee shall be
payable) of immediately available funds in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of
public and private debts.

     Reference is made to the further provisions of this Note set forth on the
reverse hereof. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place. Capitalized terms used herein,
including on the reverse hereof, and not defined herein or on the reverse
hereof shall have the respective meanings given to such terms in the Indenture.

     This Note shall not be entitled to the benefits of the Indenture or be
valid or become obligatory for any purpose until the certificate of
authentication hereon shall have been signed by the Trustee.

                                       2
<PAGE>   17
     IN WITNESS WHEREOF, the Issuer has caused this Note to be signed manually
or by facsimile by duly authorized officers of the General Partner.

Dated: January 26, 1999       EOP OPERATING LIMITED PARTNERSHIP,
                                as Issuer

                              By:  EQUITY OFFICE PROPERTIES TRUST, not
                                   individually but as Managing General Partner

                                   By:  /s/ Richard D. Kincaid
                                        ---------------------------------------
                                        Richard D. Kincaid
                                   Its: Executive Vice President and
                                        Chief Financial Officer


                              and  By:  /s/ Stanley M. Stevens
                                        ---------------------------------------
                                        Stanley M. Stevens
                                   Its: Executive Vice President and
                                        Chief Legal Counsel


                    TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Notes of the series designated herein referred to in the
within-mentioned Indenture.

Dated: January 26, 1999       STATE STREET BANK AND TRUST COMPANY,
                                as Trustee

                                   By:  /s/
                                        ---------------------------------------
                                        Authorized Officer


                                       3
<PAGE>   18
                               [REVERSE OF NOTE]
                       EOP OPERATING LIMITED PARTNERSHIP

                              6.8% Notes due 2009

     This Note is one of a duly authorized issue of senior. Notes of the Issuer
(hereinafter called the "Notes") of the series hereinafter specified, all
issued or to be issued under and pursuant to an Indenture dated as of September
2, 1997 (as amended, the "Indenture"), duly executed and delivered by the
Issuer to State Street Bank and Trust Company, as Trustee (herein called the
"Trustee," which term includes any successor trustee under the Indenture with
respect to the series of Notes of which this Note is a part), to which
Indenture and all indentures supplemental thereto reference is hereby made for
a description of the rights, limitations of rights, obligations, duties, and
immunities thereunder of the Trustee, the Issuer, and the Holders of the Notes,
and of the terms upon which the Notes are, and are to be, authenticated and
delivered. The Notes may be issued in one or more series, which different
series may be issued in various aggregate principal amounts, may mature at
different times, may bear interest (if any) at different rates, may be subject
to different redemption provisions (if any), and may otherwise vary as provided
in the Indenture. This Note is one of a series designated as the 6.8% Notes due
2009 of the Issuer (the "Notes"), limited in aggregate principal amount to
$500,000,000, subject to the provisions in the Indenture.

     In case an Event of Default with respect to the Notes shall have occurred
and be continuing, the principal hereof and Make-Whole Amount (if any) may be
declared, and upon such declaration shall become, due and payable, in the
manner, with the effect, and subject to the conditions provided in the
Indenture.

     The Issuer may redeem this Note, at any time in whole or from time to time
in part, at the election of the Issuer, at a redemption price equal to the sum
of (i) the principal amount being redeemed plus accrued interest thereon to the
date fixed for redemption (the "Redemption Date") and (ii) the Make-Whole Amount
with respect hereto (the "Redemption Price"); provided, however, that interest
installments due on an Interest Payment Date which is on or prior to the
Redemption Date will be payable to the Holder hereof (or one or more predecessor
Notes) as of the close of business on the Record Date preceding such Interest
Payment Date. If notice has been given as provided in the Indenture and funds
for the redemption of this Note or any part thereof called for redemption shall
have been made available on the Redemption Date, this Note or such part thereof
will cease to bear interest on the Redemption Date referred to in such notice
and only the right of the Holder will be to receive payment of the Redemption
Price. Notice of any optional redemption of any Notes will be given to the
Holder hereof (in accordance with the provisions of the Indenture), not more
than 60 nor less than 30 days prior to the Redemption Date. In the event of
redemption of this Note in part only, a new Note of like tenor for the
unredeemed portion hereof and otherwise having the same terms and provisions as
this Note shall be issued by the Issuer in the name of the Holder hereof upon
the presentation and surrender hereof.

     The Indenture contains provisions for defeasance of (i) the entire
indebtedness of the Notes or (ii) certain covenants and Events of Default with
respect to the Notes, in each case upon compliance with certain conditions set
forth herein, which provisions apply to the Notes.

                                       4
<PAGE>   19
     The Indenture contains provisions permitting the Issuer and the Trustee,
with the consent of the Holders of not less than a majority of the aggregate
principal amount of the Notes at the time Outstanding of all series to be
affected (voting as one class), evidenced as provided in the Indenture, to
execute supplemental indentures adding any provisions to or changing in any
manner or eliminating any of the provisions of the Indenture or of any
supplemental indenture or modifying in any manner the rights of the Holders of
the Notes of each series; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Note at the time
Outstanding so affected, (i) change the final maturity of any Note, or reduce
the principal amount thereof or any premium or Make-Whole Amount thereon, if
any, or reduce the rate or extend the time of payment of any interest thereon,
or impair or affect the rights of any Holder to institute suit for the payment
on any Note, or (ii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any such supplemental
indenture, or (iii) reduce the percentage in principal amount of Outstanding
Notes, the Holders of which are required to consent to any waiver of compliance
with certain provisions of the Indenture or any waiver of certain defaults
thereunder. It is also provided in the Indenture that, with respect to certain
defaults or Events of Default regarding the Notes of any series, the Holders of
a majority in aggregate principal amount Outstanding of the Notes of such
series (or, in the case of certain defaults or Events of Default, all series of
Notes) may on behalf of the Holders of all the Notes of such series (or all of
the Notes, as the case may be) waive any such past default or Event of Default
and its consequences, prior to any declaration accelerating the maturity of
such Notes, or, subject to certain conditions, may rescind a declaration of
acceleration and its consequences with respect to such Notes. The preceding
sentence shall not, however, apply to a default in or Event of Default relating
to, the payment of the principal of or premium or Make-Whole Amount, if any,
or interest on any of the Notes or in respect of a covenant or provision
contained in the Indenture that cannot be modified or amended without the
consent of the Holders of each Note at the time Outstanding affected thereby.
Any such consent or waiver by the Holder of this Note (unless revoked as
provided in the Indenture) shall be conclusive and binding upon such Holder and
upon all future Holders and owners of this Note and any Notes that may be
issued in exchange or substitution herefor, irrespective of whether or not any
notation thereof is made upon this Note or such other Notes.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and any Make-Whole Amount
and interest on this Note in the manner, at the respective times, at the rate
and in the coin or currency herein prescribed.

     This Note is issuable only in registered form without coupons in
denominations of U.S. $1,000 and integral multiples of $1,000 in excess
thereof. Notes may be exchanged for a like aggregate principal amount of Notes
of this series of other authorized denominations at the office or agency of the
Issuer in Boston, Massachusetts, in the manner and subject to the limitations
provided herein and in the Indenture, but without the payment of any service
charge except for any tax or other governmental charge imposed in connection
therewith.

                                       5
<PAGE>   20
     Upon due presentment for registration of transfer of this Note at the
office or agency of the Issuer in Boston, Massachusetts, one or more new Notes
of authorized denominations in an equal aggregate principal amount will be
issued to the transferee in exchange therefor, subject to the limitations
provided in the Indenture, but without the payment of any service charge except
for any tax or other governmental charge imposed in connection therewith.

     This Note is not subject to a sinking fund requirement.

     No recourse under or upon any obligation, covenant or agreement contained
in the Indenture, or any Note, or because of any indebtedness evidenced hereby
or thereby (including, without limitation, any obligation or indebtedness
relating to the principal of, or premium or Make-Whole Amount, if any, interest
or any other amounts due, or claimed to be due, on this Note), or for any claim
based thereon or otherwise in respect thereof, shall be had (i) against the
General Partner or any other partner, or any Person which owns an interest,
directly or indirectly, in any partner, in the Issuer, or (ii) against any
promoter, as such, or against any past, present or future shareholder, officer,
trustee or partner, as such, of the Issuer or the General Partner or of any
successor, either directly or through the Issuer or the General Partner or any
successor, under any rule of law, statute or constitutional provision or by the
enforcement of any assessment or by any legal or equitable proceeding or
otherwise, all such liability being expressly waived and released by the
acceptance hereof and as part of the consideration for the issue hereof.

     Prior to due presentation of this Note for registration of transfer, the
Issuer, the Trustee, and any authorized agent of the Issuer or the Trustee may
deem and treat the Person in whose name this Note is registered as the absolute
owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon), for the
purpose of receiving payment of, or on account of, the principal hereof and
Make-Whole Amount, if any, and subject to the provisions herein and on the face
hereof, interest hereon, and for all other purposes, and neither the Issuer nor
the Trustee nor any authorized agent of the Issuer or the Trustee shall be
affected by any notice to the contrary, except as required by law.

     THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA
WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS.

                                       6
<PAGE>   21
                  ASSIGNMENT FORM AND CERTIFICATE OF TRANSFER

     To assign this Note fill in the form below:

     (I) or (we) assign and transfer this Note to

________________________________________________________________________________
    (Insert assignee's social security or tax identification number, if any)

________________________________________________________________________________

________________________________________________________________________________

________________________________________________________________________________
             (Print or type assignee's name, address and zip code)

     Your signature: ___________________________________________________________
       (Sign exactly as your name appears on the other side of this Note)

     Date: ________________________________________

     Signature Guarantee:* ________________________




_________________________
* Signature must be guaranteed by a commercial bank, trust company or member
  firm or a major stock exchange

                                       7