================================================================================

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

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

                         Date of Report: March 7, 2006

                       (Date of earliest event reported)

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

            Maryland                         1-11718                36-3857664
(State or other jurisdiction of            (Commission            (IRS Employer
incorporation or organization)              File No.)             Identification
                                                                      Number)

     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 registrant under any of the
following provisions (see General Instruction 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 240.14d-2(b))

     [ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
          Exchange Act (17 CFR 240.13e-4(c))

================================================================================


Item 8.01 Other Events

     Equity LifeStyle Properties, Inc. (NYSE: ELS) announced that its Board of
Directors declared a dividend of $0.075 per share, representing, on an
annualized basis, a dividend of $0.30 per share. The dividend will be paid on
April 14, 2006 to shareholders of record on March 31, 2006.

     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 properties,
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 properties, 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. ELS 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
                                               Executive Vice President and
                                               Chief Financial Officer

DATE: March 7, 2006
      -------------