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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                                JANUARY 16, 2006
                                (Date of Report)


                       EQUITY LIFESTYLE PROPERTIES, INC.
             (Exact name of registrant as specified in its Charter)


                                     1-11718
                              (Commission File No.)

              MARYLAND                                  36-3857664
  (State or other jurisdiction of                    (I.R.S. Employer 
   incorporation or organization)                   Identification No.)

   TWO NORTH RIVERSIDE PLAZA, CHICAGO, ILLINOIS            60606
     (Address of principal executive offices)            (Zip Code)


                                 (312) 279-1400
              (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the following provisions (See
General Instructions A.2 below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)
[ ] Pre-commencement communications pursuant to Rule (14d-2(b)) under the
    Exchange Act (17 CFR.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule (13e-4(c)) under the
    Exchange Act (17 CFR.13e-4(c))

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ITEM 8.01         OTHER EVENTS

         Equity LifeStyle Properties, Inc. (NYSE: ELS) announced the tax
treatment of its 2005 dividend distributions of $0.10 per common share (CUSIP
No. 29472R108) as follows:

                                                             Ordinary
       Record           Payable         Distribution         Taxable
        Date              Date           Per Share           Dividend
      3/25/05            4/8/05            $0.025             $0.025
      6/24/05            7/8/05            $0.025             $0.025
      9/30/05          10/14/05            $0.025             $0.025
     12/30/05           1/13/06            $0.025             $0.025
   TOTALS                                  $0.100             $0.100

         Shareholders are encouraged to consult with their tax advisors as to
their specific tax treatment of Equity LifeStyle Properties, Inc. dividends.
         This news release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995. When used,
words such as "anticipate", "expect", "believe", "intend", "may be" and "will
be", and similar words or phrases, or the negative thereof, unless the context
requires otherwise, are intended to identify forward-looking statements. These
forward-looking statements are subject to numerous assumptions, risks and
uncertainties, including, but not limited to: in the age-qualified communities,
home sales results could be impacted by the ability of potential homebuyers to
sell their existing residences as well as by financial markets volatility; in
the all-age communities, results from home sales and occupancy will continue to
be impacted by local economic conditions, lack of affordable manufactured home
financing, and competition from alternative housing options including site-built
single-family housing; our ability to maintain rental rates and occupancy with
respect to properties currently owned or pending acquisitions; our assumptions
about rental and home sales markets; the completion of pending acquisitions and
timing with respect thereto; the effect of interest rates as well as other risks
indicated from time to time in our filings with the Securities and Exchange
Commission. These forward-looking statements are based on management's present
expectations and beliefs about future events. As with any projection or
forecast, these statements are inherently susceptible to uncertainty and changes
in circumstances. The Company is under no obligation to, and expressly disclaims
any obligation to, update or alter its forward-looking statements whether as a
result of such changes, new information, subsequent events or otherwise.

         Equity LifeStyle Properties, Inc. owns or has an interest in 285
quality properties in 28 states and British Columbia consisting of 106,337
sites. The Company is a self-administered, self-managed, real estate investment
trust (REIT) with headquarters in Chicago.



SIGNATURE



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.








                                      EQUITY LIFESTYLE PROPERTIES, INC




                                      BY:  /s/ Michael B. Berman
                                         -------------------------------
                                           Michael B. Berman
                                           Vice President, Treasurer and
                                             Chief Financial Officer






DATE:   January 16, 2006
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