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SEC Filings

S-1/A
JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997
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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.
 
  . Full Range of Services. By offering a wide range of high quality,
    complementary services, the Company can combine its services to develop
    and implement real estate strategies that meet the increasingly complex
    needs of its clients. The Company's product and service capabilities
    include property management and leasing, facility management, development
    management, tenant representation, investment banking, land acquisition
    and development, and investment management.
 
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