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 (Date of earliest event reported): March 31, 2011
EQUITY LIFESTYLE PROPERTIES, INC.
(Exact name of registrant as specified in its charter)

Maryland	 	0-11718	 	36-3857664	
(State or other jurisdiction of incorporation)	 	(Commission File Number)	 	(IRS Employer Identification No.)	

Two North Riverside Plaza, Chicago, Illinois, 60606
(Address of principal executive offices)
(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:
 	 	 	
o	 	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	

þ	 	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	

o	 	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	

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

 

 
 	 	 	
Item 8.01.	 	Other Events.	
     On March 31, 2011, Equity LifeStyle Properties, Inc. (the “Company”) filed its 2010 Proxy Statement on Schedule 14A with the Securities and Exchange Commission. On April 8, 2011, the Company will mail a booklet entitled “The Life in a Day of Equity Lifestyle Properties 2010” (the “2010 ELS Storybook”) to investors of the Company together with the Company’s 2010 Proxy Statement on Schedule 14A and the 2010 Annual Report. The 2010 ELS Storybook contains a letter from the Company’s Chairman of the Board, Mr. Samuel Zell and the Company’s Chief Executive Officer, Mr. Thomas P. Heneghan, information about the Company’s properties, an industry growth comparison, pictures of the Company’s properties and various short stories and commentary from the Company’s customers. Accordingly, as the 2010 ELS Storybook could be deemed to be solicitation materials under the proxy rules of the Securities and Exchange Commission, the Company is filing this Current Report on Form 8-K.
 	 	 	
Item 9.01	 	Financial Statements and Exhibits.	
(d) Exhibits
 	 	 	
Exhibit 99.1	 	The Life in a Day of Equity Lifestyle Properties, Inc. 2010	

 
SIGNATURES
     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 hereunto duly authorized.
 	 	 	 	 	
 	EQUITY LIFESTYLE PROPERTIES, INC.
 	 	
April 5, 2011 	By:  	Michael B. Berman  	 	
 	 	Name:  	Michael B. Berman 	 	
 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 	

Exhibit 99.1

 

 

Dear Readers,	
The last few years have demonstrated the strength of our company. We have delivered stable, predictable growth in a very difficult economy. In addition, over the long-term our core portfolio has outperfonned most other real estate asset classes. One of our favorite graphs during investor presentations compares our core portfolio to the REIT industry average. We have included this graph (at left) — we think it is worth a look. We believe the consistency of our performance is related to the strength of our business plan: owning high quality real estate in sought after locations that provide an attractive lifestyle option to empty-nesters and retirees.	
In a difficult economy, investors and analysts viewed our stabilityand consistencyas attractive. However, as optimism about a sustained economic recovery grows, the focus shifts to a renewed interest in risk-taking. Aggressive growth projections, development pipelines and transactional activity have taken the place of balance sheet strength and the stability of cash flow as primary topics for discussion. And frankly, on those topics, our comments are relatively subdued Although we continue to expect growth, we see caution and a focus on capital preservation as drivers of our core baby boomer customer base. Development in our	
asset class is difficult to justify even in the best economies and although we are always on the lookout for attractive investments, “distress” opportunities remain elusive.	
Nevertheless, we remain confident in our business plan. To the extent there is a strong economic recovery, we believe we are well positioned to participate. In addition, our financial flexibilitywill allow us to aggressively pursue opportunities when they do arise. In any event, no matter what the future holds, we believe ELS represents a core holding for those investors looking for long-term, stable and predictable cash flow growth.	
As we continue our tradition of providing a glimpse of the lifestyle that is ELS, we thought we’d take a cue from the latest trends. To that end, this year, in addition to letters, our collection of stories also includes communications we’ve received from the social networks that have become second nature to most ofus.	
We hope you enjoy this year’s collection of stories and images depicting “The Life in a Day ofELS.”	
Chainnan ofthelloard CEO