UNITED STATES
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

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

                                SEPTEMBER 3, 2003
                                (Date of Report)

             (Exact name of registrant as specified in its Charter)

                              (Commission File No.)

                           MARYLAND                                                    36-3857664
(State or other jurisdiction of incorporation or organization)            (I.R.S. Employer 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)



                  On September 2, 2003, Manufactured Home Communities, Inc.
         ("the Company") announced that it has initiated a process to obtain
         $500 million in loan commitments from an institutional lender. The
         lender has agreed to make individual loans secured by mortgages on 56
         previously unencumbered properties. In total, the loans will bear a
         blended interest rate of 5.92% per annum, with maturities ranging from
         5 to 12 years and averaging approximately 9 years. Approximately $425
         million of the loans will be interest only for periods ranging from 1
         to 3 years depending on maturity. All of the loans will amortize based
         on a 30-year maturity schedule after any applicable interest only
         period. The financing is expected to close in the fourth quarter of

                  The Company has not yet determined if proceeds from the
         financing will be used for a special dividend and/or share repurchases
         or for other general corporate purposes. General corporate purposes may
         include among other purposes: debt repayment, redemption of preferred
         operating partnership units, property acquisitions or a combination

                  The Company further announced that its Board of Directors has
         increased the Company's authority to repurchase its shares in the open
         market from 1,000,000 shares approved in November 2002 to a current
         authorization of 3,000,000 shares. The Company believes that the
         increase in the authorized share buyback will provide additional
         liquidity to those shareholders wishing to sell.

                  The preceding discussion may contain certain forward-looking
         statements within the meaning of the Private Securities Litigation
         Reform Act of 1995, which reflect management's current views with
         respect to future events and financial performance. Such
         forward-looking statements are subject to certain risks and
         uncertainties, including, but not limited to, the effects of future
         events on the Company's financial performance, the adverse impact of
         external factors such as inflation and consumer confidence, and the
         risks associated with real estate ownership.


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.

                             MANUFACTURED HOME COMMUNITIES, INC.

                             BY: /s/ John M. Zoeller
                                 John M. Zoeller
                                 Vice President, Treasurer and
                                  Chief Financial Officer

                             BY: /s/ Mark Howell
                                 Mark Howell
                                 Principal Accounting Officer and
                                  Assistant Treasurer

DATE:  September 3, 2003