UNITED STATES			
                    SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C. 20549

                              SCHEDULE 13G

               UNDER THE SECURITIES EXCHANGE ACT OF 1934
         					ANNUAL FILING           
					(Amendment No. "___")

MANUFACTURED HOME CMNTYS INC
(NAME OF ISSUER)
Common Stock                
(TITLE CLASS OF SECURITIES)
564682102
(CUSIP NUMBER)
12/31/98
(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS 
SCHEDULE IS FILED:

			(X)  RULE 13D-1(B)
			( )  RULE 13D-1(C)
			( )  RULE 13D-1(D)

*THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A
REPORTING PERSON'S INITIAL FILING ON THIS FORM WITH RESPECT TO THE
SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT
CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED
IN A PRIOR COVER PAGE.

THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL
NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE
SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE
LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL
OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES).














CUSIP NO. 13G       							PAGE 2 OF 9

1.  NAME OF REPORTING PERSON/EIN
State Street Bank and Trust Co as trustee for General Motors Employees Global 
Group Pension Trust

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.*

    NOT APPLICABLE                                   A __
                                                     B __
3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION
New York, New York    

5.  SOLE VOTING POWER
    SHARES
6.  SHARED VOTING POWER	2,271,198
    SHARES
7.  SOLE DISPOSITIVE POWER
    SHARES
8.  SHARED DISPOSITIVE POWER	2,271,198
    SHARES
9.  TOTAL BENEFICIALLY OWNED 2,271,198
    SHARES

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES*

    NOT APPLICABLE 

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

    8.7%

12. TYPE OF REPORTING PERSON*	EP




CUSIP NO. 13G       							PAGE 3 OF 9


1.  NAME OF REPORTING PERSON/EIN
General Motors Investment Management Corp.

2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.*

    NOT APPLICABLE                                   A __
                                                     B __
3.  SEC USE ONLY

4.  CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
    

5.  SOLE VOTING POWER
    SHARES
6.  SHARED VOTING POWER	2,271,198
    SHARES
7.  SOLE DISPOSITIVE POWER
    SHARES
8.  SHARED DISPOSITIVE POWER	2,271,198 
    SHARES
9.  TOTAL BENEFICIALLY OWNED 2,271,198
    SHARES

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
    SHARES*

    NOT APPLICABLE 

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

    8.7%

12. TYPE OF REPORTING PERSON*	IA, CO


 
                       SCHEDULE 13G        			PAGE 4 OF 9
ITEM 1.

	(A)  NAME OF ISSUER
 MANUFACTURED HOME CMNTYS INC
		

	(B)  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
     2 North Riverside Plaza								
		Chicago, Ill. 60606 
		
       	       
ITEM 2.

     (A)  NAME OF PERSON FILING (SSB or other)
(i) State Street Corp. as trustee for General Motors Employes Global 
Group Pension Trust								
		
(ii) General Motors Investment Management Corp.     
		


     (B)  ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
          RESIDENCE
	(i) 225 Franklin Street Boston Ma. 02110					
		(ii) 767 Fifth Ave. New York, NY 10153
          


     (C)  CITIZENSHIP
	(i) Trust - New York								
			(ii) GMIMCo - Delaware
          

	(D)	TITLE CLASS OF SECURITIES
	Common	
		 
	
	(E)	CUSIP NUMBER
	564682102	
		

ITEM 3.   IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR
		13D-2(B), CHECK WHETHER THE PERSON FILING IS A:
(select either E or F)
(E)	(X)__ INVESTMENT ADVISOR REGISTERED UNDER SECTION 203 OF THE 
INVESTMENT ADVISORS ACT OF 1940 (in the case of GMIMCO) 
     (F)	(X)__ EMPLOYEE BENEFIT PLAN,PENSION FUND WHICH IS 
SUBJECT TO 
   	THE PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
 	ACT OF 1974 OR ENDOWMENT FUND; (in the case of the TRUST)
		SEE SECTION 240.13d-1(b)(1)(ii)(F)
						







					           

	PAGE 5 of 9
ITEM 4. OWNERSHIP
  	The Trust is a trust formed under and for the benefit of one or more 
employee benefit plans ("Plans") of General Motors Corporation ("GM") and 
its subsidiaries. GMIMCo is registered as an investment adviser under the 
Investment Advisers Act of 1940.  Its principal business is providing 
investment advice and investment management services with respect to the 
assets of the Plans and of certain direct and indirect subsidiaries of GM 
and associated entities.  The Trust and GMIMCo are referred to herein as 
the "Reporting Persons."

GMIMCo has the responsibility to select and terminate investment managers 
with respect to the Plans.  It also itself manages certain assets of the 
Plans. GMIMCo  has discretionary authority over the assets of the Plans 
which they manage including voting and investment power with respect to 
securities of  the Issuer included among such assets.  In view of GMIMCo's 
management of certain assets of the Plans, the following information is 
being provided as of December 31, 1998 with respect to such securities of  
the Issuer under management for the benefit of the Plans (1):

	(A)  AMOUNT BENEFICIALLY OWNED
     
		(i) 	Trust 			 2,271,198 (2)
 		(ii)	GMIMCo 		 2,271,198 (2)   	
	
	(B)  PERCENT OF CLASS
     		(i) 	Trust 			 8.7% (2)					
				(ii)	GMIMCo 		 8.7% (2)
		
 	(C)  NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(I) SOLE POWER TO VOTE OR TO DIRECT THE VOTE
			0
         	(II)  SHARED POWER TO VOTE OR TO DIRECT THE VOTE	
	2,271,198
         	(III)  SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF 
			0
   		(IV)   SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF
          		2,271,198								
									
The various trusts established under the Plans invest in a variety of 
investment media, including publicly traded and privately placed 
securities.  Such investments could include shares of the Issuer and/or 
other securities of the Issuer in addition to those referred to in this 
statement ("Additional Securities").  The investment and voting decisions 
regarding any Additional Securities which might be owned by such trusts are 
made by the trustees thereof or unrelated investment managers, who, in so 
acting, act independently of GMIMCo  (although the appointment of such 
investment managers is subject to authorization of and termination by 
GMIMCo as noted above). No information regarding  any such holdings by such 
trusts under the Plans is contained in this statement.
- - - - - - - - - - - - - - - - - -
	(footnotes)
(1)pursuant to Rule 13d-4,  The Reporting Persons expressly declare that 
the filing of this statement shall not be construed as an admission that 
any such Person is, for the purposes of Sections 13(d) or 13(g) of the 
Securities Exchange Act of 1934, as amended, the beneficial owner of any 
securities covered by this statement.

(2)Includes 684,684 shares which may be acquired upon the conversion of 
certain of the Issuer's convertible securities, calculated in accordance 
with Rule 13d-3(d)(1).



										

										PAGE 6 of 9

ITEM 5.   OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

          NOT APPLICABLE

ITEM 6.   OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
          PERSON.

	    NOT APPLICABLE	
       
ITEM 7.  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
         ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT 
	   HOLDING COMPANY

          NOT APPLICABLE

ITEM 8.  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

          NOT APPLICABLE

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP

          NOT APPLICABLE



Item 10.	Certification.

By signing below the undersigned certifies that, to the best of the 
undersigned's knowledge and belief, the securities referred to above were 
acquired in the ordinary course of business and were not acquired for the 
purpose of and do not have the effect of changing or influencing the 
control of the issuer of such securities and were not acquired in 
connection with or as a participant in any transaction having such purposes 
or effect.








                                                     		 PAGE 7 OF 9






After reasonable inquiry and to the best of the undersigned's knowledge and 
belief, the undersigned certifies that the information set forth in this 
statement is true, complete and correct.

Dated:  March 18, 1999

				STATE STREET BANK AND TRUST COMPANY,
				As trustee for GENERAL MOTORS EMPLOYES
				GLOBAL GROUP PENSION TRUST (as directed by
				General Motors Investment Management Corporation)

				By: /s/ Michael Connors
					Name: Michael Connors
					Title: Assistant Vice President













































										PAGE 8 OF 9



After reasonable inquiry and to the best of the undersigned's knowledge and 
belief, the undersigned certifies that the information set forth in this 
statement is true, complete and correct.

Dated:  March 18, 1999

				GENERAL MOTORS INVESTMENT MANAGEMENT
				CORPORATION


				By: /s/ Charles Froland
					Name: Charles Froland	
					Title: Managing Director

















































										PAGE 9 OF 9





JOINT FILING AGREEMENT

This will confirm the agreement by and among all the undersigned that the 
Schedule 13G filed on or about this date with respect to the beneficial 
ownership by the undersigned of shares of common stock of MANUFACTURED HOME 
CMNTYS INC.  is being, and any and all amendments to such Schedule may be, 
filed on behalf of each of the undersigned. This Agreement may be executed 
in two or more counterparts, each of which will be deemed an original, but 
all of which together shall constitute one and the same instrument.

Dated:   March 18, 1999




				STATE STREET BANK AND TRUST COMPANY,
				As trustee for GENERAL MOTORS EMPLOYES
				GLOBAL GROUP PENSION TRUST (as directed by
				General Motors Investment Management Corporation)

				By: /s/ Michael Connors
					Name: Michael Connors
					Title: Assistant Vice President



				GENERAL MOTORS INVESTMENT MANAGEMENT
				CORPORATION


				By: /s/ Charles Froland
					Name: Charles Froland	
					Title: Managing Director