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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001209191-07-050691.txt : 20070827
<SEC-HEADER>0001209191-07-050691.hdr.sgml : 20070827
<ACCEPTANCE-DATETIME>20070827175940
ACCESSION NUMBER:		0001209191-07-050691
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070817
FILED AS OF DATE:		20070827
DATE AS OF CHANGE:		20070827

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENERAL GROWTH PROPERTIES INC
		CENTRAL INDEX KEY:			0000895648
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				421283895
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		110 N WACKER DRIVE
		STREET 2:		STE 3100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129605000

	MAIL ADDRESS:	
		STREET 1:		110 N WACKER DRIVE
		STREET 2:		STE 3100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MB Capital Partners III
		CENTRAL INDEX KEY:			0001410091
		STATE OF INCORPORATION:			SD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11656
		FILM NUMBER:		071081665

	BUSINESS ADDRESS:	
		STREET 1:		300 NORTH DAKOTA AVENUE
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			57104
		BUSINESS PHONE:		6053392940

	MAIL ADDRESS:	
		STREET 1:		300 NORTH DAKOTA AVENUE
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			57104

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			M.B. Capital Units L.L.C.
		CENTRAL INDEX KEY:			0001410090
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11656
		FILM NUMBER:		071081666

	BUSINESS ADDRESS:	
		STREET 1:		110 N. WACKER DRIVE, SUITE 330
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		5159657721

	MAIL ADDRESS:	
		STREET 1:		110 N. WACKER DRIVE, SUITE 330
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>c18141_03mbc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2007-08-17</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000895648</issuerCik>
        <issuerName>GENERAL GROWTH PROPERTIES INC</issuerName>
        <issuerTradingSymbol>GGP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001410090</rptOwnerCik>
            <rptOwnerName>M.B. Capital Units L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 N. DAKOTA AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SIOUX FALLS</rptOwnerCity>
            <rptOwnerState>SD</rptOwnerState>
            <rptOwnerZipCode>57104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001410091</rptOwnerCik>
            <rptOwnerName>MB Capital Partners III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 N. DAKOTA AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SIOUX FALLS</rptOwnerCity>
            <rptOwnerState>SD</rptOwnerState>
            <rptOwnerZipCode>57104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>No securities are beneficially owned</value>
                <footnoteId id="F1"/>
                <footnoteId id="F2"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>No securities are beneficially owned</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">M.B. Capital Units L.L.C. (&quot;Capital Units&quot;), a limited liability company, beneficially owns, for purposes of Section 13(d) of the Securities Exchange Act of 1934 (the &quot;Act&quot;),  45,328,918 shares of the Common Stock, $.01 par value (&quot;Common Stock&quot;) of the Issuer, including 45,328,908 units of limited partnership interest (the &quot;LP Units&quot;) in GGP Limited Partnership which are immediately convertible into shares of Common Stock on a one-for-one basis.  Capital Units has no pecuniary interest in the Common Stock or the LP Units.</footnote>
        <footnote id="F2">M.B. Capital Partners III (&quot;M.B. Capital&quot;), a general partnership, beneficially owns, for purposes of Section 13(d) of the Act, (i) 21,403,002 shares of Common Stock and (ii) as the sole member of Capital Units, indirectly benefically owns the Common Stock and LP Units held by Capital Units.  The LP Units were directly held by M.B. Capital from August 1993 until August 2007, when M.B. Capital transferred Units in  installments on August 2 and August 17, 2007 to Capital Units.  M.B. Capital has no pecuniary interest in the Common Stock or the LP Units.</footnote>
    </footnotes>

    <remarks>This report is filed jointly by Capital Units, and its sole member, M.B. Capital, who are each beneficial owners of more than 10% of
the Common Stock, pursuant to Section 13(d) of the Act.</remarks>

    <ownerSignature>
        <signatureName>/s/ E. Michael Greaves, VP of General Trust Company, Trustee Partner of M.B. Capital Partners III, Sole Member</signatureName>
        <signatureDate>2007-08-27</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ E. Michael Greaves, VP of General Trust Company, Trustee Partner</signatureName>
        <signatureDate>2007-08-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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