UNITED STATES
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

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

                                  MAY 16, 2005
                                (Date of Report)

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

                              (Commission File No.)

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

   (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))



         Equity LifeStyle Properties, Inc. (NYSE: ELS) announced that its Board
of Directors declared a dividend of $ 0.025 per share, representing, on an
annualized basis, a dividend of $0.10 per share. The dividend will be paid on
July 8, 2005 to shareholders of record on June 24, 2005.

         The forward-looking statements contained in this news release are
subject to certain risks and uncertainties including, but not limited to, the
Company's ability to maintain rental rates and occupancy with respect to
properties currently owned or pending acquisitions; the Company's 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 the Company's filings with the Securities and
Exchange Commission. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent events.

         Equity LifeStyle Properties, Inc. owns or has an interest in 278
quality communities in 26 states and British Columbia consisting of 101,779
sites. The Company is a self-administered, self-managed, real estate investment
trust (REIT) with headquarters in Chicago.


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:  May 19, 2005