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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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                               PROSPECTUS SUMMARY
 
  The following summary is qualified in its entirety by the more detailed
information and financial statements and notes thereto appearing elsewhere
herein, including information under the heading "Risk Factors." Unless
otherwise indicated, all information in this Prospectus: (i) assumes no
exercise of the Underwriters' over-allotment option; (ii) reflects the
contribution of all of the partnership interests in LaSalle Partners Limited
Partnership ("LPL") and LaSalle Partners Management Limited Partnership
(together with LPL, the "Predecessor Partnerships") to the Company (the
"Contribution"), which will be completed immediately prior to the closing of
the offering of the Company's Common Stock (the "Offering"), and (iii) reflects
the amendment and restatement of the Company's Articles of Incorporation
immediately prior to the closing of the Offering. Following the Contribution,
the operations of the Predecessor Partnerships will be contributed to
subsidiaries of the Company as described under the caption "Incorporation
Transactions." Throughout this Prospectus, except where the context otherwise
requires, references to the "Company" or "LaSalle Partners" mean the
Predecessor Partnerships, including The Galbreath Company ("Galbreath") from
and after the merger of Galbreath with the Predecessor Partnerships, and their
subsidiaries as of and for the periods prior to the closing of the Offering
and, thereafter, collectively LaSalle Partners Incorporated and its
subsidiaries. See "Incorporation Transactions."
 

                                  THE COMPANY
 
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.
 
  On April 22, 1997, Galbreath, a property management, facility management and
development management company, merged with LaSalle Partners. Based on the 1996
Commercial Property News survey of property managers (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 Company's Management Services group. As
a result of the merger, the Company assumed management responsibility for an
additional 71 million square feet of commercial space.
 
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
 
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