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SEC Filings

S-1/A
JONES LANG LASALLE INC filed this Form S-1/A on 07/03/1997
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                                  BUSINESS
 
COMPANY OVERVIEW
   
  LaSalle Partners is a leading full-service real estate firm that provides
management services, corporate and financial services and investment
management services to corporations and other real estate owners, users and
investors worldwide. By offering a broad range of real estate products and
services, and through its extensive knowledge of domestic and international
real estate markets, the Company is able to serve as a single source provider
of solutions for its clients' full range of real estate needs. Based on
published industry data and its industry knowledge, the Company believes that
it holds a leading market position in each of its primary businesses. For
example, the Company believes it is the largest property manager of office
buildings in the United States, one of the largest outsource service providers
for corporate occupied facilities and the third largest manager of
institutional equity capital invested in domestic real estate assets and
securities. The Company is also the fourth largest manager of institutional
real estate equity investments in the United Kingdom. Founded in 1968, the
Company is headquartered in Chicago, Illinois, and maintains corporate offices
in 10 United States cities and four international markets. The Company also
maintains over 300 property and other offices throughout the United States. In
1996, the Company generated total revenue of $176.0 million, representing an
increase of 15.9% from the prior year's results.     
 
  To meet the diverse needs of its clients, the Company provides its full
range of real estate services through three principal business groups:
Management Services, Corporate and Financial Services and Investment
Management. The Management Services group develops and implements property
level strategies to increase investment value for real estate owners and
optimize occupancy costs for corporate owners and users of real estate. The
Corporate and Financial Services group provides tenant representation
services, investment banking services and land acquisition and development
services. The Investment Management group provides real estate investment
management services to institutional investors, corporations and high net
worth individuals.
 
  On April 22, 1997, Galbreath, a property management, facility management and
development management company, was merged with the Company. Based on the 1996
CPN Survey, the combination of Galbreath and the Company would have ranked the
Company as the third largest property manager in the United States. The
Company's principal objectives for the merger were to expand the Company's
geographic presence, add additional client relationships and provide the
potential for significant economic synergies with the Management Services
group. Such synergies are expected to result primarily from eliminating
infrastructure redundancies, centralizing accounting and personnel functions
and enhancing Galbreath's management information systems.
 
COMPETITIVE ADVANTAGES
 
  The Company believes that it has several competitive advantages which have
established it as a leader in the real estate services and investment
management industries. These advantages include the Company's:
     
  . Relationship Orientation. The Company's client-driven focus enables the
    Company to develop long-term relationships with owners and users of real
    estate. By developing such relationships, the Company generates repeat
    business and creates recurring revenue sources; 87% of the Company's 1996
    revenue was derived from clients for which the Company provided services
    in prior years. The Company's relationship orientation is supported by an
    employee compensation system which it believes is unique in the real
    estate industry. LaSalle Partners compensates its professionals with a
    salary, bonus and stock ownership plan which is designed to reward client
    relationship building, teamwork and quality performance, rather than on a
    commission basis which is typical in the industry.     
 
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