Exhibit 12.1

FIRST INDUSTRIAL, LP

Ratio of Earnings to Fixed Charges

(Dollars in Thousands)

	12/31/2005			12/31/2004		12/31/2003		12/31/2002		12/31/2001
Income from Continuing Operations Before Income Taxes From Continuing Operations		2,335			32,681		20,435		53,109		85,780
Plus:
Interest expense		108,164			98,458		94,637		87,069		78,841
Amortization of DFC and IRPA		2,122			1,928		1,761		1,858		1,742
Net Earnings		112,621			133,067		116,833		142,036		166,363
Interest Expense		108,164			98,458		94,637		87,069		78,841
Capitalized Interest		3,271			1,304		761		7,792		9,950
Amortization of deferred financing costs and IRPA		2,122			1,928		1,761		1,858		1,742
Fixed Charges		113,557			101,690		97,159		96,719		90,533
Ratio of Earnings to Fixed Charges			(b)		1.3		1.2		1.5		1.8

(a)	For purposes of computing the ratios of earnings to fixed charges, earnings have been calculated by adding fixed charges (excluding capitalized interest) to income from continuing operations before income taxes from continuing operations. Fixed charges consist of interest costs,whether expensed or capitalized and amortization of deferred financing costs.
(b)	Due to First Industrial, L.P.’s (the “Consolidated Operating Partnership”) Capitalized Interest for the year ended December 31, 2005, the ratio coverage is less than 1:1. The Consolidated Operating Partnership must generate additional earnings of $936 for the year ended December 31, 2005 to achieve a coverage ratio of 1:1.

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