|JONES LANG LASALLE INC filed this Form S-1/A on 07/11/1997|
LA SALLE PARTNERS LIMITED PARTNERSHIP AND SUBSIDIARIES
LA SALLE PARTNERS MANAGEMENT LIMITED PARTNERSHIP AND SUBSIDIARIES
NOTES TO COMBINED FINANCIAL STATEMENTS--(CONTINUED)
in which Diverse has an ownership interest. Included in the accompanying
combined financial statements are fees and commission revenues from such
affiliates of $16,189, $17,310 and $17,537 for 1994, 1995 and 1996,
respectively, as well as receivables for reimbursable expenses, fees and
commissions as of December 31, 1995 and 1996 of $10,182 and $5,245,
In accordance with the partnership agreements, the Partnerships provide
certain administrative services to DEL for which they are not reimbursed.
(11) COMMITMENTS AND CONTINGENCIES
The Partnerships are defendants in various litigation matters arising in the
ordinary course of business, some of which involve claims for damages that are
substantial in amount. Most of these litigation matters are covered by
insurance. In the opinion of management, the ultimate resolution of such
litigation matters will not have a material adverse effect on the financial
position, results of operation or liquidity of the Company.
(12) SUBSEQUENT EVENT
On April 22, 1997, The Galbreath Company, a property management, facility
management and development management company, merged with the Partnerships.
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