Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2010

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation

Schedule III—Real Estate and Accumulated Depreciation

Overall Summary

December 31, 2010

	Properties (H)		Units (H)		Investment in Real Estate, Gross		Accumulated Depreciation			Investment in Real Estate, Net		Encumbrances
Wholly Owned Unencumbered		288		80,239	$	12,555,402,637	$	(2,847,912,228	)	$	9,707,490,409	$	—
Wholly Owned Encumbered		137		39,395		6,016,421,350		(1,346,626,508	)		4,669,794,842		2,595,245,052
Portfolio/Entity Encumbrances (1)		—		—		—		—			—		1,417,683,780
Wholly Owned Properties		425		119,634		18,571,823,987		(4,194,538,736	)		14,377,285,251		4,012,928,832
Partially Owned Unencumbered		—		—		25,130,204		—			25,130,204		—
Partially Owned Encumbered		24		5,232		1,105,416,801		(142,817,905	)		962,598,896		749,967,053
Partially Owned Properties		24		5,232		1,130,547,005		(142,817,905	)		987,729,100		749,967,053
Total Unencumbered Properties		288		80,239		12,580,532,841		(2,847,912,228	)		9,732,620,613		—
Total Encumbered Properties		161		44,627		7,121,838,151		(1,489,444,413	)		5,632,393,738		4,762,895,885
Total Consolidated Investment in Real Estate		449		124,866	$	19,702,370,992	$	(4,337,356,641	)	$	15,365,014,351	$	4,762,895,885

(1) See attached Encumbrances Reconciliation.

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

Encumbrances Reconciliation

December 31, 2010

Portfolio/Entity Encumbrances	Number of Properties Encumbered by		See Properties With Note:		Amount
EQR-Bond Partnership		6		I	$	51,670,000
EQR-Fanwell 2007 LP		7		J		223,138,000
EQR-Wellfan 2008 LP (R)		15		K		550,000,000
EQR-SOMBRA 2008 LP		18		L		543,000,000	(1)
Other		—		—		49,875,780	(1)
Portfolio/Entity Encumbrances		46				1,417,683,780
Individual Property Encumbrances						3,345,212,105
Total Encumbrances per Financial Statements					$	4,762,895,885

(1) Temporary letters of credit supported by the Company's revolving credit facility and/or a temporary guaranty from the Operating Partnership were posted as collateral in place of sold properties. Property substitutions closed in January 2011 and the letters of credit and guaranty were terminated.

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

(Amounts in thousands)

The changes in total real estate for the years ended December 31, 2010, 2009 and 2008 are as follows:

	2010			2009			2008
Balance, beginning of year	$	18,465,144		$	18,690,239		$	18,333,350
Acquisitions and development		1,789,948			512,977			995,026
Improvements		141,199			125,965			172,165
Dispositions and other		(693,920	)		(864,037	)		(810,302	)
Balance, end of year	$	19,702,371		$	18,465,144		$	18,690,239

The changes in accumulated depreciation for the years ended December 31, 2010, 2009 and 2008 are as follows:

	2010			2009			2008
Balance, beginning of year	$	3,877,564		$	3,561,300		$	3,170,125
Depreciation		673,403			600,375			602,908
Dispositions and other		(213,610	)		(284,111	)		(211,733	)
Balance, end of year	$	4,337,357		$	3,877,564		$	3,561,300

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction	Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures			Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location				Land				Land					Land
EQR Wholly Owned Unencumbered:
500 West 23rd Street (fka 10 Chelsea)	New York, NY	(F)		—	$	—	$	27,382,360	$	—	$	—		$	—	$	27,382,360	$	27,382,360	$	—		$	27,382,360	$	—
1210 Mass	Washington, D.C. (G)	2004		144		9,213,512		36,559,189		—		285,543			9,213,512		36,844,732		46,058,244		(7,702,999	)		38,355,245		—
1401 Joyce on Pentagon Row	Arlington, VA	2004		326		9,780,000		89,680,000		—		163,567			9,780,000		89,843,567		99,623,567		(7,954,463	)		91,669,104		—
1660 Peachtree	Atlanta, GA	1999		355		7,924,126		23,602,563		—		2,032,029			7,924,126		25,634,592		33,558,718		(7,213,204	)		26,345,514		—
2201 Pershing Drive	Arlington, VA	(F)		—		12,054,081		2,652,636		—		—			12,054,081		2,652,636		14,706,717		—			14,706,717		—
2400 M St	Washington, D.C. (G)	2006		359		30,006,593		114,013,785		—		732,059			30,006,593		114,745,844		144,752,437		(21,822,792	)		122,929,645		—
420 East 80th Street	New York, NY	1961		155		39,277,000		23,026,984		—		2,501,381			39,277,000		25,528,365		64,805,365		(5,980,711	)		58,824,654		—
425 Mass	Washington, D.C. (G)	2009		559		28,150,000		138,600,000		—		1,953,014			28,150,000		140,553,014		168,703,014		(4,494,218	)		164,208,796		—
600 Washington	New York, NY (G)	2004		135		32,852,000		43,140,551		—		195,058			32,852,000		43,335,609		76,187,609		(9,485,348	)		66,702,261		—
70 Greene	Jersey City, NJ (G)	2010		480		28,170,659		239,232,094		—		103,450			28,170,659		239,335,544		267,506,203		(6,599,249	)		260,906,954		—
71 Broadway	New York, NY (G)	1997		238		22,611,600		77,492,171		—		2,960,860			22,611,600		80,453,031		103,064,631		(17,989,358	)		85,075,273		—
777 Sixth	New York, NY (G)	2002		294		65,352,706		65,747,294		—		282,143			65,352,706		66,029,437		131,382,143		(8,432,644	)		122,949,499		—
Abington Glen	Abington, MA	1968		90		553,105		3,697,396		—		2,359,072			553,105		6,056,468		6,609,573		(2,794,784	)		3,814,789		—
Acacia Creek	Scottsdale, AZ	1988- 1994		304		3,663,473		21,172,386		—		2,814,423			3,663,473		23,986,809		27,650,282		(11,190,829	)		16,459,453		—
Arden Villas	Orlando, FL	1999		336		5,500,000		28,600,796		—		3,182,624			5,500,000		31,783,420		37,283,420		(8,171,582	)		29,111,838		—
Arlington at Perimeter Center	Atlanta, GA	1980		204		2,448,000		8,099,110		—		114,675			2,448,000		8,213,785		10,661,785		(1,300,791	)		9,360,994		—
Ashton, The	Corona Hills, CA	1986		492		2,594,264		33,042,398		—		5,966,954			2,594,264		39,009,352		41,603,616		(18,806,334	)		22,797,282		—
Audubon Village	Tampa, FL	1990		447		3,576,000		26,121,909		—		4,114,611			3,576,000		30,236,520		33,812,520		(13,268,213	)		20,544,307		—
Auvers Village	Orlando, FL	1991		480		3,808,823		29,322,243		—		6,216,049			3,808,823		35,538,292		39,347,115		(15,974,356	)		23,372,759		—
Avenue Royale	Jacksonville, FL	2001		200		5,000,000		17,785,388		—		917,456			5,000,000		18,702,844		23,702,844		(4,583,891	)		19,118,953		—
Avon Place, LLC	Avon, CT	1973		163		1,788,943		12,440,003		—		1,531,391			1,788,943		13,971,394		15,760,337		(4,990,349	)		10,769,988		—
Ball Park Lofts	Denver, CO (G)	2003		343		5,481,556		51,658,740		—		2,708,015			5,481,556		54,366,755		59,848,311		(12,931,360	)		46,916,951		—
Barrington Place	Oviedo, FL	1998		233		6,990,000		15,740,825		—		2,533,678			6,990,000		18,274,503		25,264,503		(6,000,104	)		19,264,399		—
Bay Hill	Long Beach, CA	2002		160		7,600,000		27,437,239		—		740,325			7,600,000		28,177,564		35,777,564		(7,029,980	)		28,747,584		—
Bella Terra I	Mukilteo, WA (G)	2002		235		5,686,861		26,070,540		—		667,419			5,686,861		26,737,959		32,424,820		(7,277,028	)		25,147,792		—
Bella Vista	Phoenix, AZ	1995		248		2,978,879		20,641,333		—		3,393,449			2,978,879		24,034,782		27,013,661		(11,641,771	)		15,371,890		—
Bella Vista I, II, III Combined	Woodland Hills, CA	2003- 2007		579		31,682,754		121,095,785		—		1,390,256			31,682,754		122,486,041		154,168,795		(23,933,139	)		130,235,656		—
Belle Arts Condominium Homes, LLC	Bellevue, WA	2000		1		63,158		248,929		—		(5,320	)		63,158		243,609		306,767		—			306,767		—
Beneva Place	Sarasota, FL	1986		192		1,344,000		9,665,447		—		1,728,604			1,344,000		11,394,051		12,738,051		(5,284,608	)		7,453,443		—
Berkeley Land	Berkeley, CA	(F)		—		13,908,910		801,101		—		—			13,908,910		801,101		14,710,011		—			14,710,011		—
Bermuda Cove	Jacksonville, FL	1989		350		1,503,000		19,561,896		—		4,556,127			1,503,000		24,118,023		25,621,023		(11,324,915	)		14,296,108		—
Bishop Park	Winter Park, FL	1991		324		2,592,000		17,990,436		—		3,646,274			2,592,000		21,636,710		24,228,710		(10,340,427	)		13,888,283		—
Bradford Apartments	Newington, CT	1964		64		401,091		2,681,210		—		579,531			401,091		3,260,741		3,661,832		(1,301,744	)		2,360,088		—
Briar Knoll Apts	Vernon, CT	1986		150		928,972		6,209,988		—		1,274,495			928,972		7,484,483		8,413,455		(3,030,004	)		5,383,451		—
Bridford Lakes II	Greensboro, NC	(F)		—		1,100,564		792,509		—		—			1,100,564		792,509		1,893,073		—			1,893,073		—
Bridgewater at Wells Crossing	Orange Park, FL	1986		288		2,160,000		13,347,549		—		2,010,434			2,160,000		15,357,983		17,517,983		(6,560,719	)		10,957,264		—
Brookside (MD)	Frederick, MD	1993		228		2,736,000		7,934,069		—		2,157,009			2,736,000		10,091,078		12,827,078		(4,847,243	)		7,979,835		—
Brookside II (MD)	Frederick, MD	1979		204		2,450,800		6,913,202		—		2,622,214			2,450,800		9,535,416		11,986,216		(4,965,160	)		7,021,056		—
Camellero	Scottsdale, AZ	1979		348		1,924,900		17,324,593		—		5,445,971			1,924,900		22,770,564		24,695,464		(13,879,083	)		10,816,381		—
Carlyle Mill	Alexandria, VA	2002		317		10,000,000		51,367,913		—		3,585,927			10,000,000		54,953,840		64,953,840		(15,384,028	)		49,569,812		—
Center Pointe	Beaverton, OR	1996		264		3,421,535		15,708,853		—		2,605,275			3,421,535		18,314,128		21,735,663		(7,023,656	)		14,712,007		—
Centre Club	Ontario, CA	1994		312		5,616,000		23,485,891		—		2,576,818			5,616,000		26,062,709		31,678,709		(9,857,007	)		21,821,702		—
Centre Club II	Ontario, CA	2002		100		1,820,000		9,528,898		—		539,590			1,820,000		10,068,488		11,888,488		(3,186,170	)		8,702,318		—
Chandler Court	Chandler, AZ	1987		316		1,353,100		12,175,173		—		4,308,670			1,353,100		16,483,843		17,836,943		(9,303,425	)		8,533,518		—
Chandlers Bay	Kent, WA	1989		293		3,700,000		18,962,585		—		69,473			3,700,000		19,032,058		22,732,058		(2,175,442	)		20,556,616		—
Chatelaine Park	Duluth, GA	1995		303		1,818,000		24,489,671		—		1,974,089			1,818,000		26,463,760		28,281,760		(11,447,801	)		16,833,959		—
Chesapeake Glen Apts (fka Greentree I, II & III)	Glen Burnie, MD	1973		796		8,993,411		27,301,052		—		20,936,090			8,993,411		48,237,142		57,230,553		(22,479,872	)		34,750,681		—
Chestnut Hills	Puyallup, WA	1991		157		756,300		6,806,635		—		1,360,272			756,300		8,166,907		8,923,207		(4,244,605	)		4,678,602		—
Chickasaw Crossing	Orlando, FL	1986		292		2,044,000		12,366,832		—		1,786,050			2,044,000		14,152,882		16,196,882		(6,515,656	)		9,681,226		—
Chinatown Gateway	Los Angeles, CA	(F)		—		14,791,831		11,026,473		—		—			14,791,831		11,026,473		25,818,304		—			25,818,304		—
Citrus Falls	Tampa, FL	2003		273		8,190,000		28,894,280		—		381,158			8,190,000		29,275,438		37,465,438		(5,939,746	)		31,525,692		—
City View (GA)	Atlanta, GA (G)	2003		202		6,440,800		19,993,460		—		1,256,448			6,440,800		21,249,908		27,690,708		(5,161,465	)		22,529,243		—
Clarys Crossing	Columbia, MD	1984		198		891,000		15,489,721		—		1,986,718			891,000		17,476,439		18,367,439		(8,016,743	)		10,350,696		—
Cleo, The	Los Angeles, CA	1989		92		6,615,467		14,829,335		—		3,663,066			6,615,467		18,492,401		25,107,868		(3,530,065	)		21,577,803		—
Club at Tanasbourne	Hillsboro, OR	1990		352		3,521,300		16,257,934		—		3,046,161			3,521,300		19,304,095		22,825,395		(9,895,369	)		12,930,026		—
Club at the Green	Beaverton, OR	1991		254		2,030,950		12,616,747		—		2,526,289			2,030,950		15,143,036		17,173,986		(7,815,215	)		9,358,771		—
Coconut Palm Club	Coconut Creek, GA	1992		300		3,001,700		17,678,928		—		2,525,679			3,001,700		20,204,607		23,206,307		(9,321,082	)		13,885,225		—
Cortona at Dana Park	Mesa, AZ	1986		222		2,028,939		12,466,128		—		2,413,182			2,028,939		14,879,310		16,908,249		(7,286,220	)		9,622,029		—
Country Gables	Beaverton, OR	1991		288		1,580,500		14,215,444		—		3,412,313			1,580,500		17,627,757		19,208,257		(9,537,809	)		9,670,448		—
Cove at Boynton Beach I	Boynton Beach, FL	1996		252		12,600,000		31,469,651		—		2,779,931			12,600,000		34,249,582		46,849,582		(9,526,032	)		37,323,550		—
Cove at Boynton Beach II	Boynton Beach, FL	1998		296		14,800,000		37,874,719		—		—			14,800,000		37,874,719		52,674,719		(10,138,327	)		42,536,392		—
Cove at Fishers Landing	Vancouver, WA	1993		253		2,277,000		15,656,887		—		1,152,551			2,277,000		16,809,438		19,086,438		(5,710,162	)		13,376,276		—
Creekside Village	Mountlake Terrace, WA	1987		512		2,807,600		25,270,594		—		4,629,268			2,807,600		29,899,862		32,707,462		(17,364,294	)		15,343,168		—
Crosswinds	St. Petersburg, FL	1986		208		1,561,200		5,756,822		—		2,155,601			1,561,200		7,912,423		9,473,623		(4,270,769	)		5,202,854		—
Crown Court	Scottsdale, AZ	1987		416		3,156,600		28,414,599		—		7,093,468			3,156,600		35,508,067		38,664,667		(17,536,796	)		21,127,871		—
Crowntree Lakes	Orlando, FL	2008		352		12,009,630		44,407,977		—		128,840			12,009,630		44,536,817		56,546,447		(5,032,304	)		51,514,143		—
Cypress Lake at Waterford	Orlando, FL	2001		316		7,000,000		27,654,816		—		1,474,998			7,000,000		29,129,814		36,129,814		(7,889,517	)		28,240,297		—
Dartmouth Woods	Lakewood, CO	1990		201		1,609,800		10,832,754		—		1,964,282			1,609,800		12,797,036		14,406,836		(6,455,552	)		7,951,284		—
Dean Estates	Taunton, MA	1984		58		498,080		3,329,560		—		622,827			498,080		3,952,387		4,450,467		(1,678,930	)		2,771,537		—
Deerwood (Corona)	Corona, CA	1992		316		4,742,200		20,272,892		—		3,818,931			4,742,200		24,091,823		28,834,023		(11,726,867	)		17,107,156		—
Defoor Village	Atlanta, GA	1997		156		2,966,400		10,570,210		—		1,990,444			2,966,400		12,560,654		15,527,054		(5,858,484	)		9,668,570		—

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures		Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land				Land
Del Mar Ridge	San Diego, CA		1998			181		7,801,824		36,948,176		—		2,298,593		7,801,824		39,246,769		47,048,593		(3,116,754	)		43,931,839		—
Desert Homes	Phoenix, AZ		1982			412		1,481,050		13,390,249		—		4,652,484		1,481,050		18,042,733		19,523,783		(10,220,322	)		9,303,461		—
Eagle Canyon	Chino Hills, CA		1985			252		1,808,900		16,274,361		—		4,994,045		1,808,900		21,268,406		23,077,306		(10,622,403	)		12,454,903		—
Ellipse at Government Center	Fairfax, VA		1989			404		19,433,000		56,816,266		—		2,245,450		19,433,000		59,061,716		78,494,716		(7,973,317	)		70,521,399		—
Emerson Place	Boston, MA (G)		1962			444		14,855,000		57,566,636		—		15,120,573		14,855,000		72,687,209		87,542,209		(36,608,983	)		50,933,226		—
Enclave at Lake Underhill	Orlando, FL		1989			312		9,359,750		29,539,650		—		1,690,403		9,359,750		31,230,053		40,589,803		(7,327,341	)		33,262,462		—
Enclave at Waterways	Deerfield Beach, FL		1998			300		15,000,000		33,194,576		—		843,037		15,000,000		34,037,613		49,037,613		(8,268,775	)		40,768,838		—
Enclave at Winston Park	Coconut Creek, FL		1995			278		5,560,000		19,939,324		—		2,101,199		5,560,000		22,040,523		27,600,523		(7,511,989	)		20,088,534		—
Enclave, The	Tempe, AZ		1994			204		1,500,192		19,281,399		—		1,333,483		1,500,192		20,614,882		22,115,074		(9,498,305	)		12,616,769		—
Estates at Phipps	Atlanta, GA		1996			234		9,360,000		29,705,236		—		3,780,696		9,360,000		33,485,932		42,845,932		(9,625,684	)		33,220,248		—
Estates at Wellington Green	Wellington, FL		2003			400		20,000,000		64,790,850		—		1,719,926		20,000,000		66,510,776		86,510,776		(15,486,015	)		71,024,761		—
Fairland Gardens	Silver Spring, MD		1981			400		6,000,000		19,972,183		—		5,994,235		6,000,000		25,966,418		31,966,418		(12,839,143	)		19,127,275		—
Four Winds	Fall River, MA		1987			168		1,370,843		9,163,804		—		1,961,290		1,370,843		11,125,094		12,495,937		(4,317,329	)		8,178,608		—
Fox Hill Apartments	Enfield, CT		1974			168		1,129,018		7,547,256		—		1,410,030		1,129,018		8,957,286		10,086,304		(3,473,400	)		6,612,904		—
Fox Run (WA)	Federal Way, WA		1988			144		626,637		5,765,018		—		1,644,476		626,637		7,409,494		8,036,131		(4,492,269	)		3,543,862		—
Fox Run II (WA)	Federal Way, WA		1988			18		80,000		1,286,139		—		53,086		80,000		1,339,225		1,419,225		(389,957	)		1,029,268		—
Gables Grand Plaza	Coral Gables, FL (G)		1998			195		—		44,601,000		—		3,174,122		—		47,775,122		47,775,122		(12,598,590	)		35,176,532		—
Gallery, The	Hermosa Beach, CA		1971			168		18,144,000		46,567,941		—		1,719,605		18,144,000		48,287,546		66,431,546		(9,535,678	)		56,895,868		—
Gatehouse at Pine Lake	Pembroke Pines, FL		1990			296		1,896,600		17,070,795		—		3,174,037		1,896,600		20,244,832		22,141,432		(10,411,240	)		11,730,192		—
Gatehouse on the Green	Plantation, FL		1990			312		2,228,200		20,056,270		—		6,485,962		2,228,200		26,542,232		28,770,432		(12,580,475	)		16,189,957		—
Gates of Redmond	Redmond, WA		1979			180		2,306,100		12,064,015		—		4,624,741		2,306,100		16,688,756		18,994,856		(7,467,775	)		11,527,081		—
Gatewood	Pleasanton, CA		1985			200		6,796,511		20,249,392		—		3,558,873		6,796,511		23,808,265		30,604,776		(6,922,485	)		23,682,291		—
Governors Green	Bowie, MD		1999			478		19,845,000		73,335,916		—		513,833		19,845,000		73,849,749		93,694,749		(10,600,450	)		83,094,299		—
Greenfield Village	Rocky Hill , CT		1965			151		911,534		6,093,418		—		623,523		911,534		6,716,941		7,628,475		(2,669,219	)		4,959,256		—
Greenhouse—Roswell	Roswell, GA		1985			236		1,220,000		10,974,727		—		2,862,866		1,220,000		13,837,593		15,057,593		(8,334,268	)		6,723,325		—
Hamilton Villas	Beverly Hills, CA		1990			35		7,772,000		16,864,269		—		1,197,789		7,772,000		18,062,058		25,834,058		(2,088,921	)		23,745,137		—
Hammocks Place	Miami, FL		1986			296		319,180		12,513,467		—		3,361,988		319,180		15,875,455		16,194,635		(9,682,288	)		6,512,347		—
Hampshire Place	Los Angeles, CA		1989			259		10,806,000		30,335,330		—		1,855,750		10,806,000		32,191,080		42,997,080		(8,142,603	)		34,854,477		—
Hamptons	Puyallup, WA		1991			230		1,119,200		10,075,844		—		1,812,434		1,119,200		11,888,278		13,007,478		(6,014,780	)		6,992,698		—
Heritage Ridge	Lynwood, WA		1999			197		6,895,000		18,983,597		—		492,899		6,895,000		19,476,496		26,371,496		(5,168,705	)		21,202,791		—
Heritage, The	Phoenix, AZ		1995			204		1,209,705		13,136,903		—		1,360,019		1,209,705		14,496,922		15,706,627		(6,803,317	)		8,903,310		—
Heron Pointe	Boynton Beach, FL		1989			192		1,546,700		7,774,676		—		1,923,892		1,546,700		9,698,568		11,245,268		(5,039,618	)		6,205,650		—
High Meadow	Ellington, CT		1975			100		583,679		3,901,774		—		756,263		583,679		4,658,037		5,241,716		(1,793,920	)		3,447,796		—
Highland Glen	Westwood, MA		1979			180		2,229,095		16,828,153		—		2,239,543		2,229,095		19,067,696		21,296,791		(7,067,157	)		14,229,634		—
Highland Glen II	Westwood, MA		2007			102		—		19,875,857		—		80,545		—		19,956,402		19,956,402		(2,819,615	)		17,136,787		—
Highlands at South Plainfield	South Plainfield, NJ		2000			252		10,080,000		37,526,912		—		733,896		10,080,000		38,260,808		48,340,808		(7,925,678	)		40,415,130		—
Highlands, The	Scottsdale, AZ		1990			272		11,823,840		31,990,970		—		2,805,757		11,823,840		34,796,727		46,620,567		(7,688,227	)		38,932,340		—
Hudson Crossing	New York, NY (G)		2003			259		23,420,000		70,086,976		—		748,402		23,420,000		70,835,378		94,255,378		(16,184,367	)		78,071,011		—
Hudson Pointe	Jersey City, NJ		2003			182		5,148,500		41,149,117		—		1,048,724		5,148,500		42,197,841		47,346,341		(10,223,470	)		37,122,871		—
Hunt Club II	Charlotte, NC		(F	)		—		100,000		—		—		—		100,000		—		100,000		—			100,000		—
Huntington Park	Everett, WA		1991			381		1,597,500		14,367,864		—		3,620,694		1,597,500		17,988,558		19,586,058		(10,893,191	)		8,692,867		—
Indian Bend	Scottsdale, AZ		1973			278		1,075,700		9,800,330		—		3,042,609		1,075,700		12,842,939		13,918,639		(8,082,539	)		5,836,100		—
Iron Horse Park	Pleasant Hill, CA		1973			252		15,000,000		24,335,549		—		7,755,418		15,000,000		32,090,967		47,090,967		(8,103,335	)		38,987,632		—
Isle at Arrowhead Ranch	Glendale, AZ		1996			256		1,650,237		19,593,123		—		1,660,272		1,650,237		21,253,395		22,903,632		(9,860,515	)		13,043,117		—
Kempton Downs	Gresham, OR		1990			278		1,217,349		10,943,372		—		2,838,147		1,217,349		13,781,519		14,998,868		(7,994,662	)		7,004,206		—
Kenwood Mews	Burbank, CA		1991			141		14,100,000		24,662,883		—		1,627,860		14,100,000		26,290,743		40,390,743		(5,165,397	)		35,225,346		—
Key Isle at Windermere	Ocoee, FL		2000			282		8,460,000		31,761,470		—		1,197,975		8,460,000		32,959,445		41,419,445		(7,409,728	)		34,009,717		—
Key Isle at Windermere II	Ocoee, FL		2008			165		3,306,286		24,519,643		—		21,547		3,306,286		24,541,190		27,847,476		(2,038,084	)		25,809,392		—
Kings Colony (FL)	Miami, FL		1986			480		19,200,000		48,379,586		—		2,692,770		19,200,000		51,072,356		70,272,356		(12,387,179	)		57,885,177		—
La Mirage	San Diego, CA		1988/1992			1,070		28,895,200		95,567,943		—		13,968,700		28,895,200		109,536,643		138,431,843		(51,916,782	)		86,515,061		—
La Mirage IV	San Diego, CA		2001			340		6,000,000		47,449,353		—		2,944,380		6,000,000		50,393,733		56,393,733		(16,239,415	)		40,154,318		—
Laguna Clara	Santa Clara, CA		1972			264		13,642,420		29,707,475		—		3,329,323		13,642,420		33,036,798		46,679,218		(9,100,501	)		37,578,717		—
Lake Buena Vista Combined	Orlando, FL		2000/2002			672		23,520,000		75,068,206		—		3,594,116		23,520,000		78,662,322		102,182,322		(17,301,402	)		84,880,920		—
Landings at Pembroke Lakes	Pembroke Pines, FL		1989			358		17,900,000		24,460,989		—		4,881,752		17,900,000		29,342,741		47,242,741		(7,519,945	)		39,722,796		—
Landings at Port Imperial	W. New York, NJ		1999			276		27,246,045		37,741,050		—		6,567,661		27,246,045		44,308,711		71,554,756		(15,348,539	)		56,206,217		—
Las Colinas at Black Canyon	Phoenix, AZ		2008			304		9,000,000		35,917,811		—		115,519		9,000,000		36,033,330		45,033,330		(4,435,319	)		40,598,011		—
Legacy at Highlands Ranch	Highlands Ranch, CO		1999			422		6,330,000		37,557,013		—		1,466,728		6,330,000		39,023,741		45,353,741		(9,805,338	)		35,548,403		—
Legacy Park Central	Concord, CA		2003			259		6,469,230		46,745,854		—		295,479		6,469,230		47,041,333		53,510,563		(10,789,289	)		42,721,274		—
Lexington Farm	Alpharetta, GA		1995			352		3,521,900		22,888,305		—		2,476,212		3,521,900		25,364,517		28,886,417		(11,200,145	)		17,686,272		—
Lexington Park	Orlando, FL		1988			252		2,016,000		12,346,726		—		2,450,467		2,016,000		14,797,193		16,813,193		(7,062,512	)		9,750,681		—
Little Cottonwoods	Tempe, AZ		1984			379		3,050,133		26,991,689		—		3,737,391		3,050,133		30,729,080		33,779,213		(14,499,829	)		19,279,384		—
Longacre House	New York, NY (G)		2000			293		73,170,045		53,962,510		—		125,953		73,170,045		54,088,463		127,258,508		(7,505,448	)		119,753,060		—
Longfellow Place	Boston, MA (G)		1975			710		53,164,160		183,940,619		—		47,318,604		53,164,160		231,259,223		284,423,383		(97,449,615	)		186,973,768		—
Longwood	Decatur, GA		1992			268		1,454,048		13,087,393		—		2,002,602		1,454,048		15,089,995		16,544,043		(8,825,354	)		7,718,689		—
Madison, The	Alexandria, VA		(F	)		—		15,261,108		1,080,330		—		—		15,261,108		1,080,330		16,341,438		—			16,341,438		—
Marbrisa	Tampa, FL		1984			224		2,240,000		7,183,561		—		79,738		2,240,000		7,263,299		9,503,299		(1,234,564	)		8,268,735		—
Mariners Wharf	Orange Park, FL		1989			272		1,861,200		16,744,951		—		3,244,046		1,861,200		19,988,997		21,850,197		(9,702,938	)		12,147,259		—
Market Street Landing	Seattle, WA		(F	)		—		12,542,418		297,637		—		—		12,542,418		297,637		12,840,055		—			12,840,055		—
Marquessa	Corona Hills, CA		1992			336		6,888,500		21,604,584		—		2,726,408		6,888,500		24,330,992		31,219,492		(11,834,160	)		19,385,332		—
Martha Lake	Lynnwood, WA		1991			155		821,200		7,405,070		—		1,985,277		821,200		9,390,347		10,211,547		(4,980,064	)		5,231,483		—
Martine, The	Bellevue, WA		1984			67		3,200,000		9,616,264		—		2,642,670		3,200,000		12,258,934		15,458,934		(1,957,800	)		13,501,134		—
Merritt at Satellite Place	Duluth, GA		1999			424		3,400,000		30,115,674		—		2,440,228		3,400,000		32,555,902		35,955,902		(13,072,220	)		22,883,682		—
Mill Pond	Millersville, MD		1984			240		2,880,000		8,468,014		—		2,718,776		2,880,000		11,186,790		14,066,790		(5,505,405	)		8,561,385		—
Mira Flores	Palm Beach Gardens, FL		1996			352		7,039,313		22,515,299		—		2,298,916		7,039,313		24,814,215		31,853,528		(8,485,263	)		23,368,265		—

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures		Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land				Land
Mission Bay	Orlando, FL		1991			304		2,432,000		21,623,560		—		2,717,235		2,432,000		24,340,795		26,772,795		(10,820,242	)		15,952,553		—
Mission Verde, LLC	San Jose, CA		1986			108		5,190,700		9,679,109		—		3,151,242		5,190,700		12,830,351		18,021,051		(5,623,277	)		12,397,774		—
Morningside	Scottsdale, AZ		1989			160		670,470		12,607,976		—		1,697,299		670,470		14,305,275		14,975,745		(6,740,861	)		8,234,884		—
Mosaic at Largo Station	Hyattsville, MD		2008			242		4,120,800		42,477,297		—		237,451		4,120,800		42,714,748		46,835,548		(4,141,764	)		42,693,784		—
Mozaic at Union Station	Los Angeles, CA		2007			272		8,500,000		52,583,270		—		668,419		8,500,000		53,251,689		61,751,689		(8,972,618	)		52,779,071		—
New River Cove	Davie, FL		1999			316		15,800,000		46,142,895		—		1,049,654		15,800,000		47,192,549		62,992,549		(10,341,684	)		52,650,865		—
Northampton 1	Largo, MD		1977			344		1,843,200		17,528,381		—		5,798,143		1,843,200		23,326,524		25,169,724		(14,229,754	)		10,939,970		—
Northampton 2	Largo, MD		1988			276		1,513,500		14,246,990		—		3,654,124		1,513,500		17,901,114		19,414,614		(10,571,731	)		8,842,883		—
Northglen	Valencia, CA		1988			234		9,360,000		20,778,553		—		1,728,818		9,360,000		22,507,371		31,867,371		(8,256,285	)		23,611,086		—
Northlake (MD)	Germantown, MD		1985			304		15,000,000		23,142,302		—		9,754,730		15,000,000		32,897,032		47,897,032		(9,909,101	)		37,987,931		—
Northridge	Pleasant Hill, CA		1974			221		5,527,800		14,691,705		—		8,471,887		5,527,800		23,163,592		28,691,392		(9,697,063	)		18,994,329		—
Oak Park North	Agoura Hills, CA		1990			220		1,706,900		15,362,666		—		2,806,978		1,706,900		18,169,644		19,876,544		(9,627,790	)		10,248,754		—
Oak Park South	Agoura Hills, CA		1989			224		1,683,800		15,154,608		—		2,923,629		1,683,800		18,078,237		19,762,037		(9,624,230	)		10,137,807		—
Oaks at Falls Church	Falls Church, VA		1966			176		20,240,000		20,152,616		—		3,552,434		20,240,000		23,705,050		43,945,050		(5,665,262	)		38,279,788		—
Ocean Crest	Solana Beach, CA		1986			146		5,111,200		11,910,438		—		2,058,043		5,111,200		13,968,481		19,079,681		(6,514,987	)		12,564,694		—
Ocean Walk	Key West, FL		1990			297		2,838,749		25,545,009		—		3,233,758		2,838,749		28,778,767		31,617,516		(13,599,381	)		18,018,135		—
Olympus Towers	Seattle, WA (G)		2000			328		14,752,034		73,335,425		—		2,226,097		14,752,034		75,561,522		90,313,556		(19,377,834	)		70,935,722		—
Orchard Ridge	Lynnwood, WA		1988			104		480,600		4,372,033		—		1,127,901		480,600		5,499,934		5,980,534		(3,295,398	)		2,685,136		—
Overlook Manor	Frederick, MD		1980/1985			108		1,299,100		3,930,931		—		2,142,057		1,299,100		6,072,988		7,372,088		(3,277,788	)		4,094,300		—
Overlook Manor II	Frederick, MD		1980/1985			182		2,186,300		6,262,597		—		1,253,022		2,186,300		7,515,619		9,701,919		(3,549,205	)		6,152,714		—
Paces Station	Atlanta, GA		1984- 1989			610		4,801,500		32,548,053		—		8,202,985		4,801,500		40,751,038		45,552,538		(20,808,476	)		24,744,062		—
Palm Trace Landings	Davie, FL		1995			768		38,400,000		105,693,432		—		2,605,905		38,400,000		108,299,337		146,699,337		(23,469,327	)		123,230,010		—
Panther Ridge	Federal Way, WA		1980			260		1,055,800		9,506,117		—		1,846,801		1,055,800		11,352,918		12,408,718		(5,866,485	)		6,542,233		—
Parc 77	New York, NY (G)		1903			137		40,504,000		18,025,679		—		4,115,467		40,504,000		22,141,146		62,645,146		(4,773,963	)		57,871,183		—
Parc Cameron	New York, NY (G)		1927			166		37,600,000		9,855,597		—		5,120,583		37,600,000		14,976,180		52,576,180		(3,867,865	)		48,708,315		—
Parc Coliseum	New York, NY (G)		1910			177		52,654,000		23,045,751		—		6,947,750		52,654,000		29,993,501		82,647,501		(6,372,704	)		76,274,797		—
Park at Turtle Run, The	Coral Springs, FL		2001			257		15,420,000		36,064,629		—		898,823		15,420,000		36,963,452		52,383,452		(9,407,101	)		42,976,351		—
Park West (CA)	Los Angeles, CA		1987/1990			444		3,033,500		27,302,383		—		5,418,219		3,033,500		32,720,602		35,754,102		(17,933,416	)		17,820,686		—
Parkside	Union City, CA		1979			208		6,246,700		11,827,453		—		3,310,231		6,246,700		15,137,684		21,384,384		(7,795,045	)		13,589,339		—
Parkview Terrace	Redlands, CA		1986			558		4,969,200		35,653,777		—		11,282,338		4,969,200		46,936,115		51,905,315		(22,196,279	)		29,709,036		—
Phillips Park	Wellesley, MA		1988			49		816,922		5,460,955		—		936,091		816,922		6,397,046		7,213,968		(2,475,515	)		4,738,453		—
Pine Harbour	Orlando, FL		1991			366		1,664,300		14,970,915		—		3,529,258		1,664,300		18,500,173		20,164,473		(11,225,249	)		8,939,224		—
Playa Pacifica	Hermosa Beach,CA		1972			285		35,100,000		33,473,822		—		7,145,521		35,100,000		40,619,343		75,719,343		(10,641,111	)		65,078,232		—
Pointe at South Mountain	Phoenix, AZ		1988			364		2,228,800		20,059,311		—		3,210,958		2,228,800		23,270,269		25,499,069		(11,847,168	)		13,651,901		—
Polos East	Orlando, FL		1991			308		1,386,000		19,058,620		—		2,188,231		1,386,000		21,246,851		22,632,851		(9,567,266	)		13,065,585		—
Port Royale	Ft. Lauderdale, FL (G)		1988			252		1,754,200		15,789,873		—		7,514,240		1,754,200		23,304,113		25,058,313		(12,612,882	)		12,445,431		—
Port Royale II	Ft. Lauderdale, FL (G)		1988			161		1,022,200		9,203,166		—		4,702,265		1,022,200		13,905,431		14,927,631		(7,140,443	)		7,787,188		—
Port Royale III	Ft. Lauderdale, FL (G)		1988			324		7,454,900		14,725,802		—		8,935,675		7,454,900		23,661,477		31,116,377		(11,497,857	)		19,618,520		—
Port Royale IV	Ft. Lauderdale, FL		(F	)		—		—		387,471		—		—		—		387,471		387,471		—			387,471		—
Portofino	Chino Hills, CA		1989			176		3,572,400		14,660,994		—		2,150,998		3,572,400		16,811,992		20,384,392		(7,854,366	)		12,530,026		—
Portofino (Val)	Valencia, CA		1989			216		8,640,000		21,487,126		—		2,302,820		8,640,000		23,789,946		32,429,946		(8,794,584	)		23,635,362		—
Portside Towers	Jersey City, NJ (G)		1992- 1997			527		22,487,006		96,842,913		—		14,773,378		22,487,006		111,616,291		134,103,297		(47,349,520	)		86,753,777		—
Preserve at Deer Creek	Deerfield Beach, FL		1997			540		13,500,000		60,011,208		—		3,069,187		13,500,000		63,080,395		76,580,395		(16,723,806	)		59,856,589		—
Prime, The	Arlington, VA		2002			256		32,000,000		64,436,539		—		587,595		32,000,000		65,024,134		97,024,134		(12,202,034	)		84,822,100		—
Promenade at Aventura	Aventura, FL		1995			296		13,320,000		30,353,748		—		4,740,072		13,320,000		35,093,820		48,413,820		(12,325,089	)		36,088,731		—
Promenade at Town Center I	Valencia, CA		2001			294		14,700,000		35,390,279		—		2,762,304		14,700,000		38,152,583		52,852,583		(10,327,370	)		42,525,213		—
Promenade at Wyndham Lakes	Coral Springs, FL		1998			332		6,640,000		26,743,760		—		3,364,705		6,640,000		30,108,465		36,748,465		(10,964,932	)		25,783,533		—
Promenade Terrace	Corona, CA		1990			330		2,272,800		20,546,289		—		4,744,546		2,272,800		25,290,835		27,563,635		(13,575,380	)		13,988,255		—
Promontory Pointe I & II	Phoenix, AZ		1984/1996			424		2,355,509		30,421,840		—		3,698,629		2,355,509		34,120,469		36,475,978		(16,314,043	)		20,161,935		—
Prospect Towers	Hackensack, NJ		1995			157		3,926,600		31,738,452		—		2,938,287		3,926,600		34,676,739		38,603,339		(13,635,911	)		24,967,428		—
Prospect Towers II	Hackensack, NJ		2002			203		4,500,000		33,104,733		—		2,070,180		4,500,000		35,174,913		39,674,913		(10,813,863	)		28,861,050		—
Ravens Crest	Plainsboro, NJ		1984			704		4,670,850		42,080,642		—		11,945,748		4,670,850		54,026,390		58,697,240		(31,532,339	)		27,164,901		—
Redmond Ridge	Redmond, WA		2008			321		6,975,705		46,175,001		—		73,615		6,975,705		46,248,616		53,224,321		(4,628,114	)		48,596,207		—
Red 160 (fka Redmond Way)	Redmond, WA (G)		(F	)		—		15,546,376		61,417,903		—		9,488		15,546,376		61,427,391		76,973,767		(339	)		76,973,428		—
Regency Palms	Huntington Beach, CA		1969			310		1,857,400		16,713,254		—		4,433,614		1,857,400		21,146,868		23,004,268		(11,462,162	)		11,542,106		—
Regency Park	Centreville, VA		1989			252		2,521,500		16,200,666		—		7,802,524		2,521,500		24,003,190		26,524,690		(11,693,111	)		14,831,579		—
Registry	Northglenn, CO		1986			208		2,000,000		10,926,759		—		48,337		2,000,000		10,975,096		12,975,096		(1,278,875	)		11,696,221		—
Remington Place	Phoenix, AZ		1983			412		1,492,750		13,377,478		—		4,637,494		1,492,750		18,014,972		19,507,722		(10,299,256	)		9,208,466		—
Renaissance Villas	Berkeley, CA (G)		1998			34		2,458,000		4,542,000		—		5,418		2,458,000		4,547,418		7,005,418		(332,879	)		6,672,539		—
Reserve at Ashley Lake	Boynton Beach, FL		1990			440		3,520,400		23,332,494		—		4,721,183		3,520,400		28,053,677		31,574,077		(13,452,026	)		18,122,051		—
Reserve at Town Center	Loudon, VA		2002			290		3,144,056		27,669,121		—		712,324		3,144,056		28,381,445		31,525,501		(7,401,808	)		24,123,693		—
Reserve at Town Center II (WA)	Mill Creek, WA		2009			100		4,310,417		17,172,642		—		7,133		4,310,417		17,179,775		21,490,192		(614,973	)		20,875,219		—
Reserve at Town Center III	Mill Creek, WA		(F	)		—		2,089,388		220,235		—		—		2,089,388		220,235		2,309,623		—			2,309,623		—
Retreat, The	Phoenix, AZ		1999			480		3,475,114		27,265,252		—		2,380,882		3,475,114		29,646,134		33,121,248		(12,339,194	)		20,782,054		—
Rianna I	Seattle, WA (G)		2000			78		2,268,160		14,864,482		—		84,986		2,268,160		14,949,468		17,217,628		(1,125,268	)		16,092,360		—
Ridgewood Village I&II	San Diego, CA		1997			408		11,809,500		34,004,048		—		2,195,996		11,809,500		36,200,044		48,009,544		(14,118,993	)		33,890,551		—
River Pointe at Den Rock Park	Lawrence, MA		2000			174		4,615,702		18,440,147		—		1,212,909		4,615,702		19,653,056		24,268,758		(6,078,818	)		18,189,940		—
River Tower	New York, NY (G)		1982			323		118,669,441		98,880,559		—		401,052		118,669,441		99,281,611		217,951,052		(12,970,964	)		204,980,088		—
Rivers Bend (CT)	Windsor, CT		1973			373		3,325,517		22,573,826		—		2,724,959		3,325,517		25,298,785		28,624,302		(9,670,355	)		18,953,947		—
Riverview Condominiums	Norwalk, CT		1991			92		2,300,000		7,406,730		—		1,806,846		2,300,000		9,213,576		11,513,576		(4,117,696	)		7,395,880		—
Royal Oaks (FL)	Jacksonville, FL		1991			284		1,988,000		13,645,117		—		3,882,711		1,988,000		17,527,828		19,515,828		(7,780,869	)		11,734,959		—
Sabal Palm at Carrollwood Place	Tampa, FL		1995			432		3,888,000		26,911,542		—		2,533,589		3,888,000		29,445,131		33,333,131		(12,979,307	)		20,353,824		—
Sabal Palm at Lake Buena Vista	Orlando, FL		1988			400		2,800,000		23,687,893		—		3,982,057		2,800,000		27,669,950		30,469,950		(12,197,653	)		18,272,297		—
Sabal Palm at Metrowest	Orlando, FL		1998			411		4,110,000		38,394,865		—		3,876,633		4,110,000		42,271,498		46,381,498		(18,443,292	)		27,938,206		—

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures		Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land				Land
Sabal Palm at Metrowest II	Orlando, FL		1997			456		4,560,000		33,907,283		—		2,691,106		4,560,000		36,598,389		41,158,389		(15,830,427	)		25,327,962		—
Sabal Pointe	Coral Springs, FL		1995			275		1,951,600		17,570,508		—		3,961,145		1,951,600		21,531,653		23,483,253		(11,635,146	)		11,848,107		—
Saddle Ridge	Ashburn, VA		1989			216		1,364,800		12,283,616		—		2,201,030		1,364,800		14,484,646		15,849,446		(7,934,560	)		7,914,886		—
Sage	Everett, WA		2002			123		2,500,000		12,021,256		—		412,814		2,500,000		12,434,070		14,934,070		(2,576,867	)		12,357,203		—
Savannah at Park Place	Atlanta, GA		2001			416		7,696,095		34,114,542		—		2,628,399		7,696,095		36,742,941		44,439,036		(10,138,404	)		34,300,632		—
Savoy III	Aurora, CO		(F	)		—		659,165		4,749,723		—		—		659,165		4,749,723		5,408,888		—			5,408,888		—
Sawgrass Cove	Bradenton, FL		1991			336		3,360,000		12,587,189		—		80,974		3,360,000		12,668,163		16,028,163		(1,947,404	)		14,080,759		—
Scarborough Square	Rockville, MD		1967			121		1,815,000		7,608,126		—		2,394,761		1,815,000		10,002,887		11,817,887		(4,923,278	)		6,894,609		—
Sedona Ridge	Phoenix, AZ		1989			250		3,750,000		14,750,000		—		254,926		3,750,000		15,004,926		18,754,926		(2,039,282	)		16,715,644		—
Seeley Lake	Lakewood, WA		1990			522		2,760,400		24,845,286		—		4,006,480		2,760,400		28,851,766		31,612,166		(14,437,537	)		17,174,629		—
Seventh & James	Seattle, WA		1992			96		663,800		5,974,803		—		2,878,988		663,800		8,853,791		9,517,591		(4,849,519	)		4,668,072		—
Shadow Creek	Winter Springs, FL		2000			280		6,000,000		21,719,768		—		1,434,843		6,000,000		23,154,611		29,154,611		(6,340,966	)		22,813,645		—
Sheridan Lake Club	Dania Beach, FL		2001			240		12,000,000		23,170,580		—		1,252,843		12,000,000		24,423,423		36,423,423		(5,113,176	)		31,310,247		—
Sheridan Ocean Club combined	Dania Beach, FL		1991			648		18,313,414		47,091,593		—		14,017,392		18,313,414		61,108,985		79,422,399		(21,027,176	)		58,395,223		—
Siena Terrace	Lake Forest, CA		1988			356		8,900,000		24,083,024		—		2,738,600		8,900,000		26,821,624		35,721,624		(11,637,233	)		24,084,391		—
Silver Springs (FL)	Jacksonville, FL		1985			432		1,831,100		16,474,735		—		5,779,723		1,831,100		22,254,458		24,085,558		(12,404,671	)		11,680,887		—
Skycrest	Valencia, CA		1999			264		10,560,000		25,574,457		—		1,870,144		10,560,000		27,444,601		38,004,601		(10,001,263	)		28,003,338		—
Skylark	Union City, CA		1986			174		1,781,600		16,731,916		—		1,608,125		1,781,600		18,340,041		20,121,641		(8,137,578	)		11,984,063		—
Skyline Terrace	Burlingame, CA		1967/1987			138		16,836,000		35,414,000		—		469		16,836,000		35,414,469		52,250,469		(227,411	)		52,023,058		—
Skyline Towers	Falls Church, VA (G)		1971			939		78,278,200		91,485,591		—		27,969,652		78,278,200		119,455,243		197,733,443		(30,881,457	)		166,851,986		—
Skyview	Rancho Santa Margarita, CA		1999			260		3,380,000		21,952,863		—		1,667,929		3,380,000		23,620,792		27,000,792		(9,657,421	)		17,343,371		—
Sonoran	Phoenix, AZ		1995			429		2,361,922		31,841,724		—		2,900,306		2,361,922		34,742,030		37,103,952		(16,082,432	)		21,021,520		—
Southwood	Palo Alto, CA		1985			100		6,936,600		14,324,069		—		2,065,301		6,936,600		16,389,370		23,325,970		(7,489,798	)		15,836,172		—
Springbrook Estates	Riverside, CA		(F	)		—		18,200,000		—		—		—		18,200,000		—		18,200,000		—			18,200,000		—
St. Andrews at Winston Park	Coconut Creek, FL		1997			284		5,680,000		19,812,090		—		2,144,175		5,680,000		21,956,265		27,636,265		(7,512,645	)		20,123,620		—
Stoney Creek	Lakewood, WA		1990			231		1,215,200		10,938,134		—		2,267,480		1,215,200		13,205,614		14,420,814		(6,703,659	)		7,717,155		—
Summerwood	Hayward, CA		1982			162		4,810,644		6,942,743		—		2,132,610		4,810,644		9,075,353		13,885,997		(4,231,400	)		9,654,597		—
Summit & Birch Hill	Farmington, CT		1967			186		1,757,438		11,748,112		—		2,916,135		1,757,438		14,664,247		16,421,685		(5,733,897	)		10,687,788		—
Summit at Lake Union	Seattle, WA		1995 - 1997			150		1,424,700		12,852,461		—		3,097,192		1,424,700		15,949,653		17,374,353		(7,701,759	)		9,672,594		—
Surprise Lake Village	Milton, WA		1986			338		4,162,543		21,995,958		—		167,483		4,162,543		22,163,441		26,325,984		(2,484,576	)		23,841,408		—
Sycamore Creek	Scottsdale, AZ		1984			350		3,152,000		19,083,727		—		3,055,695		3,152,000		22,139,422		25,291,422		(10,946,251	)		14,345,171		—
Tanasbourne Terrace	Hillsboro, OR		1986- 1989			373		1,876,700		16,891,205		—		3,764,711		1,876,700		20,655,916		22,532,616		(12,425,399	)		10,107,217		—
Third Square	Cambridge, MA (G)		2008/2009			482		27,812,384		228,734,105		—		567,932		27,812,384		229,302,037		257,114,421		(15,770,134	)		241,344,287		—
Tortuga Bay	Orlando, FL		2004			314		6,280,000		32,121,779		—		985,669		6,280,000		33,107,448		39,387,448		(7,923,623	)		31,463,825		—
Toscana	Irvine, CA		1991/1993			563		39,410,000		50,806,072		—		6,395,983		39,410,000		57,202,055		96,612,055		(21,654,115	)		74,957,940		—
Townes at Herndon	Herndon, VA		2002			218		10,900,000		49,216,125		—		576,648		10,900,000		49,792,773		60,692,773		(10,492,949	)		50,199,824		—
Trump Place, 140 Riverside	New York, NY (G)		2003			354		103,539,100		94,082,725		—		1,245,121		103,539,100		95,327,846		198,866,946		(20,098,341	)		178,768,605		—
Trump Place, 160 Riverside	New York, NY (G)		2001			455		139,933,500		190,964,745		—		4,193,547		139,933,500		195,158,292		335,091,792		(39,008,991	)		296,082,801		—
Trump Place, 180 Riverside	New York, NY (G)		1998			516		144,968,250		138,346,681		—		5,245,129		144,968,250		143,591,810		288,560,060		(30,420,203	)		258,139,857		—
Uwajimaya Village	Seattle, WA		2002			176		8,800,000		22,188,288		—		231,285		8,800,000		22,419,573		31,219,573		(5,828,856	)		25,390,717		—
Valencia Plantation	Orlando, FL		1990			194		873,000		12,819,377		—		2,124,405		873,000		14,943,782		15,816,782		(6,429,174	)		9,387,608		—
Vantage Pointe	San Diego, CA (G)		2009			679		9,403,960		190,596,040		—		878,314		9,403,960		191,474,354		200,878,314		(2,779,752	)		198,098,562		—
Versailles (K-Town)	Los Angeles, CA		2008			225		10,590,975		44,409,025		—		17,858		10,590,975		44,426,883		55,017,858		(2,028,003	)		52,989,855		—
Victor on Venice	Los Angeles, CA (G)		2006			115		10,350,000		35,433,437		—		105,588		10,350,000		35,539,025		45,889,025		(6,273,594	)		39,615,431		—
Villa Encanto	Phoenix, AZ		1983			385		2,884,447		22,197,363		—		3,530,421		2,884,447		25,727,784		28,612,231		(12,649,439	)		15,962,792		—
Villa Solana	Laguna Hills, CA		1984			272		1,665,100		14,985,678		—		6,271,253		1,665,100		21,256,931		22,922,031		(12,286,928	)		10,635,103		—
Village at Bear Creek	Lakewood, CO		1987			472		4,519,700		40,676,390		—		4,115,836		4,519,700		44,792,226		49,311,926		(21,310,226	)		28,001,700		—
Vista Del Largo	Mission Viejo, CA		1986- 1988			608		4,525,800		40,736,293		—		10,948,915		4,525,800		51,685,208		56,211,008		(30,191,450	)		26,019,558		—
Vista Grove	Mesa, AZ		1997/1998			224		1,341,796		12,157,045		—		1,295,291		1,341,796		13,452,336		14,794,132		(6,225,002	)		8,569,130		—
Vista Montana—Residential & Townhomes	San Jose, CA		(F	)		—		51,000,000		—		—		—		51,000,000		—		51,000,000		—			51,000,000		—
Vista on Courthouse	Arlington, VA		2008			220		15,550,260		69,449,740		—		86,777		15,550,260		69,536,517		85,086,777		(5,267,387	)		79,819,390		—
Waterford at Deerwood	Jacksonville, FL		1985			248		1,496,913		10,659,702		—		3,584,784		1,496,913		14,244,486		15,741,399		(6,711,046	)		9,030,353		—
Waterford at Orange Park	Orange Park, FL		1986			280		1,960,000		12,098,784		—		2,967,016		1,960,000		15,065,800		17,025,800		(7,417,680	)		9,608,120		—
Waterford Place (CO)	Thornton, CO		1998			336		5,040,000		29,946,419		—		1,310,833		5,040,000		31,257,252		36,297,252		(9,793,049	)		26,504,203		—
Waterside	Reston, VA		1984			276		20,700,000		27,474,388		—		7,638,031		20,700,000		35,112,419		55,812,419		(9,030,796	)		46,781,623		—
Webster Green	Needham, MA		1985			77		1,418,893		9,485,006		—		1,000,811		1,418,893		10,485,817		11,904,710		(3,879,487	)		8,025,223		—
Welleby Lake Club	Sunrise, FL		1991			304		3,648,000		17,620,879		—		3,744,103		3,648,000		21,364,982		25,012,982		(9,435,056	)		15,577,926		—
West End Apartments (fka Emerson Place/CRP II)	Boston, MA (G)		2008			310		469,546		163,123,022		—		358,369		469,546		163,481,391		163,950,937		(15,522,448	)		148,428,489		—
Westerly at Worldgate	Herndon, VA		1995			320		14,568,000		43,620,057		—		1,062,632		14,568,000		44,682,689		59,250,689		(6,046,012	)		53,204,677		—
Westfield Village	Centerville, VA		1988			228		7,000,000		23,245,834		—		4,574,728		7,000,000		27,820,562		34,820,562		(8,289,817	)		26,530,745		—
Westridge	Tacoma, WA		1987 - 1991			714		3,501,900		31,506,082		—		6,551,697		3,501,900		38,057,779		41,559,679		(19,228,990	)		22,330,689		—
Westgate Pasadena Condos	Pasadena, CA		(F	)		—		29,977,725		16,130,079		—		—		29,977,725		16,130,079		46,107,804		—			46,107,804		—
Westgate Pasadena and Green	Pasadena, CA		(F	)		—		—		390,813		—		—		—		390,813		390,813		—			390,813		—
Westside Villas I	Los Angeles, CA		1999			21		1,785,000		3,233,254		—		256,198		1,785,000		3,489,452		5,274,452		(1,324,557	)		3,949,895		—
Westside Villas II	Los Angeles, CA		1999			23		1,955,000		3,541,435		—		139,793		1,955,000		3,681,228		5,636,228		(1,307,577	)		4,328,651		—
Westside Villas III	Los Angeles, CA		1999			36		3,060,000		5,538,871		—		203,576		3,060,000		5,742,447		8,802,447		(2,045,237	)		6,757,210		—
Westside Villas IV	Los Angeles, CA		1999			36		3,060,000		5,539,390		—		212,024		3,060,000		5,751,414		8,811,414		(2,039,061	)		6,772,353		—
Westside Villas V	Los Angeles, CA		1999			60		5,100,000		9,224,485		—		368,292		5,100,000		9,592,777		14,692,777		(3,414,998	)		11,277,779		—
Westside Villas VI	Los Angeles, CA		1989			18		1,530,000		3,023,523		—		231,964		1,530,000		3,255,487		4,785,487		(1,182,625	)		3,602,862		—
Westside Villas VII	Los Angeles, CA		2001			53		4,505,000		10,758,900		—		361,135		4,505,000		11,120,035		15,625,035		(3,377,984	)		12,247,051		—
Wimberly at Deerwood	Jacksonville, FL		2000			322		8,000,000		30,057,214		—		1,524,972		8,000,000		31,582,186		39,582,186		(7,060,939	)		32,521,247		—
Winchester Park	Riverside, RI		1972			416		2,822,618		18,868,626		—		6,221,418		2,822,618		25,090,044		27,912,662		(10,446,769	)		17,465,893		—
Winchester Wood	Riverside, RI		1989			62		683,215		4,567,154		—		798,960		683,215		5,366,114		6,049,329		(2,013,478	)		4,035,851		—
Windsor at Fair Lakes	Fairfax, VA		1988			250		10,000,000		28,587,109		—		5,870,235		10,000,000		34,457,344		44,457,344		(9,463,894	)		34,993,450		—

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures		Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land				Land
Winston, The (FL)	Pembroke Pines, FL		2001/2003			464		18,561,000		49,527,569		—		1,617,923		18,561,000		51,145,492		69,706,492		(8,441,759	)		61,264,733		—
Wood Creek (CA)	Pleasant Hill, CA		1987			256		9,729,900		23,009,768		—		4,472,213		9,729,900		27,481,981		37,211,881		(12,645,672	)		24,566,209		—
Woodbridge (CT)	Newington, CT		1968			73		498,377		3,331,548		—		862,784		498,377		4,194,332		4,692,709		(1,635,504	)		3,057,205		—
Woodleaf	Campbell, CA		1984			178		8,550,600		16,988,183		—		1,418,889		8,550,600		18,407,072		26,957,672		(8,148,131	)		18,809,541		—
Woodside	Lorton, VA		1987			252		1,326,000		12,510,903		—		5,846,332		1,326,000		18,357,235		19,683,235		(10,821,201	)		8,862,034		—
Management Business	Chicago, IL		(D	)		—		—		—		—		79,865,530		—		79,865,530		79,865,530		(61,109,987	)		18,755,543		—
Operating Partnership	Chicago, IL		(F	)		—		—		804,852		—		—		—		804,852		804,852		—			804,852		—
EQR Wholly Owned Unencumbered						80,239		2,929,343,369		8,675,464,206		—		950,595,062		2,929,343,369		9,626,059,268		12,555,402,637		(2,847,912,228	)		9,707,490,409		—
EQR Wholly Owned Encumbered:
929 House	Cambridge, MA (G)		1975			127		3,252,993		21,745,595		—		4,361,591		3,252,993		26,107,186		29,360,179		(9,147,568	)		20,212,611		3,059,026
Academy Village	North Hollywood, CA		1989			248		25,000,000		23,593,194		—		5,642,404		25,000,000		29,235,598		54,235,598		(8,614,636	)		45,620,962		20,000,000
Acappella	Pasadena, CA		2002			143		5,839,548		29,360,452		—		—		5,839,548		29,360,452		35,200,000		—			35,200,000		20,886,508
Acton Courtyard	Berkeley, CA (G)		2003			71		5,550,000		15,785,509		—		58,895		5,550,000		15,844,404		21,394,404		(2,806,816	)		18,587,588		9,920,000
Alborada	Fremont, CA		1999			442		24,310,000		59,214,129		—		2,251,542		24,310,000		61,465,671		85,775,671		(23,124,504	)		62,651,167		(J	)
Alexander on Ponce	Atlanta, GA		2003			330		9,900,000		35,819,022		—		1,541,765		9,900,000		37,360,787		47,260,787		(8,232,441	)		39,028,346		28,880,000
Amberton	Manassas, VA		1986			190		900,600		11,921,815		—		2,406,495		900,600		14,328,310		15,228,910		(7,347,971	)		7,880,939		10,705,000
Arbor Terrace	Sunnyvale, CA		1979			175		9,057,300		18,483,642		—		2,226,056		9,057,300		20,709,698		29,766,998		(9,184,819	)		20,582,179		(L	)
Arboretum (MA)	Canton, MA		1989			156		4,685,900		10,992,751		—		1,798,509		4,685,900		12,791,260		17,477,160		(6,000,939	)		11,476,221		(I	)
Artech Building	Berkeley, CA (G)		2002			21		1,642,000		9,152,518		—		85,975		1,642,000		9,238,493		10,880,493		(1,437,190	)		9,443,303		3,200,000
Artisan Square	Northridge, CA		2002			140		7,000,000		20,537,359		—		687,091		7,000,000		21,224,450		28,224,450		(6,239,094	)		21,985,356		22,779,715
Avanti	Anaheim, CA		1987			162		12,960,000		18,497,683		—		1,018,387		12,960,000		19,516,070		32,476,070		(4,132,155	)		28,343,915		19,850,000
Bachenheimer Building	Berkeley, CA (G)		2004			44		3,439,000		13,866,379		—		42,240		3,439,000		13,908,619		17,347,619		(2,287,866	)		15,059,753		8,585,000
Bella Vista Apartments at Boca Del Mar	Boca Raton, FL		1985			392		11,760,000		20,190,252		—		13,328,327		11,760,000		33,518,579		45,278,579		(13,414,974	)		31,863,605		26,134,010
Bellagio Apartment Homes	Scottsdale, AZ		1995			202		2,626,000		16,025,041		—		953,738		2,626,000		16,978,779		19,604,779		(4,541,961	)		15,062,818		(L	)
Berkeleyan	Berkeley, CA (G)		1998			56		4,377,000		16,022,110		—		264,145		4,377,000		16,286,255		20,663,255		(2,735,637	)		17,927,618		8,290,000
Bradley Park	Puyallup, WA		1999			155		3,813,000		18,313,645		—		388,646		3,813,000		18,702,291		22,515,291		(4,995,318	)		17,519,973		11,143,586
Briarwood (CA)	Sunnyvale, CA		1985			192		9,991,500		22,247,278		—		1,434,998		9,991,500		23,682,276		33,673,776		(10,266,159	)		23,407,617		12,800,000
Brookside (CO)	Boulder, CO		1993			144		3,600,400		10,211,159		—		1,520,927		3,600,400		11,732,086		15,332,486		(5,075,082	)		10,257,404		(L	)
Canterbury	Germantown, MD (I)		1986			544		2,781,300		32,942,531		—		13,914,331		2,781,300		46,856,862		49,638,162		(24,687,359	)		24,950,803		31,680,000
Cape House I	Jacksonville, FL		1998			240		4,800,000		22,484,240		—		426,982		4,800,000		22,911,222		27,711,222		(4,507,742	)		23,203,480		13,748,202
Cape House II	Jacksonville, FL		1998			240		4,800,000		22,229,836		—		1,689,141		4,800,000		23,918,977		28,718,977		(4,773,188	)		23,945,789		13,302,929
Carmel Terrace	San Diego, CA		1988- 1989			384		2,288,300		20,596,281		—		9,979,210		2,288,300		30,575,491		32,863,791		(16,480,043	)		16,383,748		(K	)
Cascade at Landmark	Alexandria, VA		1990			277		3,603,400		19,657,554		—		6,814,326		3,603,400		26,471,880		30,075,280		(12,856,433	)		17,218,847		31,921,089
Centennial Court	Seattle, WA (G)		2001			187		3,800,000		21,280,039		—		362,829		3,800,000		21,642,868		25,442,868		(5,029,405	)		20,413,463		15,557,428
Centennial Tower	Seattle, WA (G)		1991			221		5,900,000		48,800,339		—		2,046,434		5,900,000		50,846,773		56,746,773		(11,438,821	)		45,307,952		25,300,790
Chelsea Square	Redmond, WA		1991			113		3,397,100		9,289,074		—		1,388,566		3,397,100		10,677,640		14,074,740		(4,562,296	)		9,512,444		(L	)
Church Corner	Cambridge, MA (G)		1987			85		5,220,000		16,744,643		—		1,179,544		5,220,000		17,924,187		23,144,187		(4,248,578	)		18,895,609		12,000,000
Cierra Crest	Denver, CO		1996			480		4,803,100		34,894,898		—		4,402,011		4,803,100		39,296,909		44,100,009		(18,210,852	)		25,889,157		(L	)
City Pointe	Fullerton, CA (G)		2004			183		6,863,792		36,476,207		—		83,706		6,863,792		36,559,913		43,423,705		(2,707,002	)		40,716,703		23,503,206
Colorado Pointe	Denver, CO		2006			193		5,790,000		28,815,766		—		408,628		5,790,000		29,224,394		35,014,394		(6,452,888	)		28,561,506		(K	)
Conway Court	Roslindale, MA		1920			28		101,451		710,524		—		229,420		101,451		939,944		1,041,395		(395,244	)		646,151		260,117
Copper Canyon	Highlands Ranch, CO		1999			222		1,442,212		16,251,114		—		1,150,650		1,442,212		17,401,764		18,843,976		(7,322,122	)		11,521,854		(K	)
Country Brook	Chandler, AZ		1986- 1996			396		1,505,219		29,542,535		—		3,653,889		1,505,219		33,196,424		34,701,643		(15,485,956	)		19,215,687		(K	)
Country Club Lakes	Jacksonville, FL		1997			555		15,000,000		41,055,786		—		4,105,750		15,000,000		45,161,536		60,161,536		(11,315,474	)		48,846,062		32,097,598
Creekside (San Mateo)	San Mateo, CA		1985			192		9,606,600		21,193,232		—		2,040,890		9,606,600		23,234,122		32,840,722		(9,971,049	)		22,869,673		(L	)
Crescent at Cherry Creek	Denver, CO		1994			216		2,594,000		15,149,470		—		2,620,271		2,594,000		17,769,741		20,363,741		(8,074,935	)		12,288,806		(K	)
Deerwood (SD)	San Diego, CA		1990			316		2,082,095		18,739,815		—		13,007,845		2,082,095		31,747,660		33,829,755		(17,756,307	)		16,073,448		(K	)
Estates at Maitland Summit	Orlando, FL		1998			272		9,520,000		28,352,160		—		678,371		9,520,000		29,030,531		38,550,531		(7,308,841	)		31,241,690		(L	)
Estates at Tanglewood	Westminster, CO		2003			504		7,560,000		51,256,538		—		1,850,357		7,560,000		53,106,895		60,666,895		(12,304,895	)		48,362,000		(J	)
Fairfield	Stamford, CT (G)		1996			263		6,510,200		39,690,120		—		5,118,992		6,510,200		44,809,112		51,319,312		(19,894,444	)		31,424,868		34,595,000
Fine Arts Building	Berkeley, CA (G)		2004			100		7,817,000		26,462,772		—		58,091		7,817,000		26,520,863		34,337,863		(4,506,280	)		29,831,583		16,215,000
Gaia Building	Berkeley, CA (G)		2000			91		7,113,000		25,623,826		—		117,077		7,113,000		25,740,903		32,853,903		(4,345,971	)		28,507,932		14,630,000
Gateway at Malden Center	Malden, MA (G)		1988			203		9,209,780		25,722,666		—		7,947,656		9,209,780		33,670,322		42,880,102		(10,662,848	)		32,217,254		14,970,000
Geary Court Yard	San Francisco, CA		1990			164		1,722,400		15,471,429		—		2,040,242		1,722,400		17,511,671		19,234,071		(8,300,938	)		10,933,133		18,893,440
Glen Meadow	Franklin, MA		1971			288		2,339,330		16,133,588		—		3,534,410		2,339,330		19,667,998		22,007,328		(8,107,522	)		13,899,806		619,538
Grandeville at River Place	Oviedo, FL		2002			280		6,000,000		23,114,693		—		1,520,490		6,000,000		24,635,183		30,635,183		(6,872,649	)		23,762,534		28,890,000
Greenhaven	Union City, CA		1983			250		7,507,000		15,210,399		—		2,970,066		7,507,000		18,180,465		25,687,465		(8,456,557	)		17,230,908		10,975,000
Greenhouse—Frey Road	Kennesaw, GA		1985			489		2,467,200		22,187,443		—		4,922,373		2,467,200		27,109,816		29,577,016		(16,164,084	)		13,412,932		19,700,000
Greenwood Park	Centennial, CO		1994			291		4,365,000		38,372,440		—		1,136,402		4,365,000		39,508,842		43,873,842		(6,846,735	)		37,027,107		(L	)
Greenwood Plaza	Centennial, CO		1996			266		3,990,000		35,846,708		—		1,658,135		3,990,000		37,504,843		41,494,843		(6,529,493	)		34,965,350		(L	)
Harbor Steps	Seattle, WA (G)		2000			730		59,900,000		158,829,432		—		5,787,753		59,900,000		164,617,185		224,517,185		(34,944,472	)		189,572,713		125,926,373
Hathaway	Long Beach, CA		1987			385		2,512,500		22,611,912		—		6,365,675		2,512,500		28,977,587		31,490,087		(15,770,720	)		15,719,367		46,517,800
Heights on Capitol Hill	Seattle, WA (G)		2006			104		5,425,000		21,138,028		—		55,704		5,425,000		21,193,732		26,618,732		(3,965,879	)		22,652,853		19,320,000
Heritage at Stone Ridge	Burlington, MA		2005			180		10,800,000		31,808,335		—		607,280		10,800,000		32,415,615		43,215,615		(7,307,875	)		35,907,740		28,150,164
Heronfield	Kirkland, WA		1990			202		9,245,000		27,018,110		—		1,212,853		9,245,000		28,230,963		37,475,963		(5,306,819	)		32,169,144		(K	)
Highlands at Cherry Hill	Cherry Hills, NJ		2002			170		6,800,000		21,459,108		—		582,660		6,800,000		22,041,768		28,841,768		(4,883,071	)		23,958,697		14,947,792
Ivory Wood	Bothell, WA		2000			144		2,732,800		13,888,282		—		543,271		2,732,800		14,431,553		17,164,353		(3,798,957	)		13,365,396		8,020,000
Jaclen Towers	Beverly, MA		1976			100		437,072		2,921,735		—		1,125,390		437,072		4,047,125		4,484,197		(1,826,858	)		2,657,339		1,208,416
Kelvin Court (fka Alta Pacific)	Irvine, CA		2008			132		10,752,145		34,628,114		—		11,381		10,752,145		34,639,495		45,391,640		(3,455,525	)		41,936,115		28,260,000
La Terrazza at Colma Station	Colma, CA (G)		2005			153		—		41,251,043		—		458,671		—		41,709,714		41,709,714		(6,759,707	)		34,950,007		25,940,000
LaSalle	Beaverton, OR (G)		1998			554		7,202,000		35,877,612		—		2,584,539		7,202,000		38,462,151		45,664,151		(12,221,817	)		33,442,334		28,342,496
Liberty Park	Brain Tree, MA		2000			202		5,977,504		26,749,111		—		1,935,923		5,977,504		28,685,034		34,662,538		(8,587,844	)		26,074,694		24,980,280
Liberty Tower	Arlington, VA (G)		2008			235		16,382,822		83,817,078		—		98,458		16,382,822		83,915,536		100,298,358		(2,774,628	)		97,523,730		49,160,870

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures			Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land					Land
Lincoln Heights	Quincy, MA		1991			336		5,928,400		33,595,262		—		10,549,292			5,928,400		44,144,554		50,072,954		(19,375,802	)		30,697,152		(L	)
Longview Place	Waltham, MA		2004			348		20,880,000		90,255,509		—		1,460,656			20,880,000		91,716,165		112,596,165		(18,368,568	)		94,227,597		57,029,000
Market Street Village	San Diego, CA		2006			229		13,740,000		40,757,300		—		345,628			13,740,000		41,102,928		54,842,928		(7,630,442	)		47,212,486		(K	)
Marks	Englewood, CO (G)		1987			616		4,928,500		44,622,314		—		8,060,048			4,928,500		52,682,362		57,610,862		(24,944,534	)		32,666,328		19,195,000
Metro on First	Seattle, WA (G)		2002			102		8,540,000		12,209,981		—		254,915			8,540,000		12,464,896		21,004,896		(2,757,191	)		18,247,705		16,650,000
Mill Creek	Milpitas, CA		1991			516		12,858,693		57,168,503		—		2,403,984			12,858,693		59,572,487		72,431,180		(17,116,835	)		55,314,345		69,312,259
Miramar Lakes	Miramar, FL		2003			344		17,200,000		51,487,235		—		1,343,639			17,200,000		52,830,874		70,030,874		(11,391,642	)		58,639,232		(M	)
Missions at Sunbow	Chula Vista, CA		2003			336		28,560,000		59,287,595		—		1,148,849			28,560,000		60,436,444		88,996,444		(14,871,085	)		74,125,359		55,091,000
Monte Viejo	Phoneix, AZ		2004			480		12,700,000		45,926,784		—		976,950			12,700,000		46,903,734		59,603,734		(11,299,701	)		48,304,033		40,960,036
Montecito	Valencia, CA		1999			210		8,400,000		24,709,146		—		1,732,020			8,400,000		26,441,166		34,841,166		(9,562,693	)		25,278,473		(K	)
Montierra	Scottsdale, AZ		1999			249		3,455,000		17,266,787		—		1,458,706			3,455,000		18,725,493		22,180,493		(7,870,337	)		14,310,156		17,858,854
Montierra (CA)	San Diego, CA		1990			272		8,160,000		29,360,938		—		6,457,847			8,160,000		35,818,785		43,978,785		(13,974,022	)		30,004,763		(K	)
Mosaic at Metro	Hyattsville, MD		2008			260		—		59,653,038		—		49,368			—		59,702,406		59,702,406		(4,118,730	)		55,583,676		45,046,469
Mountain Park Ranch	Phoenix, AZ		1994			240		1,662,332		18,260,276		—		1,748,558			1,662,332		20,008,834		21,671,166		(9,432,301	)		12,238,865		(J	)
Mountain Terrace	Stevenson Ranch, CA		1992			510		3,966,500		35,814,995		—		11,502,806			3,966,500		47,317,801		51,284,301		(21,425,003	)		29,859,298		57,428,472
Northpark	Burlingame, CA		1972			510		38,607,000		77,493,000		—		39,582			38,607,000		77,532,582		116,139,582		(3,084,091	)		113,055,491		70,668,409
North Pier at Harborside	Jersey City, NJ (J)		2003			297		4,000,159		94,348,092		—		1,739,535			4,000,159		96,087,627		100,087,786		(22,321,947	)		77,765,839		76,862,000
Oak Mill I	Germantown, MD		1984			208		10,000,000		13,155,522		—		7,235,088			10,000,000		20,390,610		30,390,610		(6,289,524	)		24,101,086		12,487,301
Oak Mill II	Germantown, MD		1985			192		854,133		10,233,947		—		5,864,959			854,133		16,098,906		16,953,039		(8,498,045	)		8,454,994		9,600,000
Oaks	Santa Clarita, CA		2000			520		23,400,000		61,020,438		—		2,652,544			23,400,000		63,672,982		87,072,982		(17,959,221	)		69,113,761		41,154,036
Olde Redmond Place	Redmond, WA		1986			192		4,807,100		14,126,038		—		4,122,122			4,807,100		18,248,160		23,055,260		(8,527,802	)		14,527,458		(L	)
Parc East Towers	New York, NY (G)		1977			324		102,163,000		109,013,628		—		5,654,774			102,163,000		114,668,402		216,831,402		(18,284,019	)		198,547,383		17,473,846
Park Meadow	Gilbert, AZ		1986			225		835,217		15,120,769		—		2,267,564			835,217		17,388,333		18,223,550		(8,395,148	)		9,828,402		(L	)
Parkfield	Denver, CO		2000			476		8,330,000		28,667,618		—		2,155,451			8,330,000		30,823,069		39,153,069		(11,251,895	)		27,901,174		23,275,000
Promenade at Peachtree	Chamblee, GA		2001			406		10,150,000		31,219,739		—		1,645,577			10,150,000		32,865,316		43,015,316		(8,729,820	)		34,285,496		(K	)
Promenade at Town Center II	Valencia, CA		2001			270		13,500,000		34,405,636		—		391,668			13,500,000		34,797,304		48,297,304		(9,307,693	)		38,989,611		32,785,701
Providence	Bothell, WA		2000			200		3,573,621		19,055,505		—		541,320			3,573,621		19,596,825		23,170,446		(5,354,911	)		17,815,535		(J	)
Reserve at Clarendon Centre, The	Arlington, VA (G)		2003			252		10,500,000		52,812,935		—		1,777,312			10,500,000		54,590,247		65,090,247		(14,249,748	)		50,840,499		(K	)
Reserve at Eisenhower, The	Alexandria, VA		2002			226		6,500,000		34,585,060		—		702,144			6,500,000		35,287,204		41,787,204		(10,058,015	)		31,729,189		(K	)
Reserve at Empire Lakes	Rancho Cucamonga, CA		2005			467		16,345,000		73,080,670		—		1,396,394			16,345,000		74,477,064		90,822,064		(15,486,334	)		75,335,730		(J	)
Reserve at Fairfax Corners	Fairfax, VA		2001			652		15,804,057		63,129,051		—		2,563,175			15,804,057		65,692,226		81,496,283		(19,948,034	)		61,548,249		84,778,876
Reserve at Potomac Yard	Alexandria, VA		2002			588		11,918,917		68,976,484		—		3,376,272			11,918,917		72,352,756		84,271,673		(17,772,440	)		66,499,233		66,470,000
Reserve at Town Center (WA)	Mill Creek, WA		2001			389		10,369,400		41,172,081		—		1,414,773			10,369,400		42,586,854		52,956,254		(10,871,457	)		42,084,797		29,160,000
Rianna II	Seattle, WA (G)		2002			78		2,161,840		14,433,614		—		16,614			2,161,840		14,450,228		16,612,068		(1,072,947	)		15,539,121		10,499,494
Rockingham Glen	West Roxbury, MA		1974			143		1,124,217		7,515,160		—		1,533,725			1,124,217		9,048,885		10,173,102		(3,757,339	)		6,415,763		1,440,865
Rolling Green (Amherst)	Amherst, MA		1970			204		1,340,702		8,962,317		—		3,313,332			1,340,702		12,275,649		13,616,351		(5,297,121	)		8,319,230		2,217,176
Rolling Green (Milford)	Milford, MA		1970			304		2,012,350		13,452,150		—		3,986,562			2,012,350		17,438,712		19,451,062		(7,305,093	)		12,145,969		4,645,763
San Marcos Apartments	Scottsdale, AZ		1995			320		20,000,000		31,261,609		—		1,384,451			20,000,000		32,646,060		52,646,060		(7,272,584	)		45,373,476		32,900,000
Savannah Lakes	Boynton Beach, FL		1991			466		7,000,000		30,263,310		—		4,429,051			7,000,000		34,692,361		41,692,361		(11,606,796	)		30,085,565		36,610,000
Savannah Midtown	Atlanta, GA		2000			322		7,209,873		29,433,507		—		2,603,453			7,209,873		32,036,960		39,246,833		(8,514,514	)		30,732,319		17,800,000
Savoy I	Aurora, CO		2001			444		5,450,295		38,765,670		—		1,964,604			5,450,295		40,730,274		46,180,569		(11,009,808	)		35,170,761		(L	)
Sheffield Court	Arlington, VA		1986			597		3,342,381		31,337,332		—		7,927,865			3,342,381		39,265,197		42,607,578		(21,583,314	)		21,024,264		(L	)
Sonata at Cherry Creek	Denver, CO		1999			183		5,490,000		18,130,479		—		1,162,983			5,490,000		19,293,462		24,783,462		(6,957,885	)		17,825,577		19,190,000
Sonterra at Foothill Ranch	Foothill Ranch, CA		1997			300		7,503,400		24,048,507		—		1,500,506			7,503,400		25,549,013		33,052,413		(11,490,634	)		21,561,779		(L	)
South Winds	Fall River, MA		1971			404		2,481,821		16,780,359		—		3,712,343			2,481,821		20,492,702		22,974,523		(8,697,220	)		14,277,303		4,437,567
Springs Colony	Altamonte Springs, FL		1986			188		630,411		5,852,157		—		2,363,300			630,411		8,215,457		8,845,868		(5,129,095	)		3,716,773		(I	)
Stonegate (CO)	Broomfield, CO		2003			350		8,750,000		32,998,775		—		2,700,719			8,750,000		35,699,494		44,449,494		(8,900,049	)		35,549,445		(J	)
Stoneleigh at Deerfield	Alpharetta, GA		2003			370		4,810,000		29,999,596		—		871,524			4,810,000		30,871,120		35,681,120		(7,656,545	)		28,024,575		16,800,000
Stoney Ridge	Dale City, VA		1985			264		8,000,000		24,147,091		—		5,287,141			8,000,000		29,434,232		37,434,232		(7,934,618	)		29,499,614		15,138,399
Stonybrook	Boynton Beach, FL		2001			264		10,500,000		24,967,638		—		951,679			10,500,000		25,919,317		36,419,317		(6,210,078	)		30,209,239		20,971,587
Summerhill Glen	Maynard, MA		1980			120		415,812		3,000,816		—		766,088			415,812		3,766,904		4,182,716		(1,622,076	)		2,560,640		1,174,207
Summerset Village	Chatsworth, CA		1985			280		2,890,450		23,670,889		—		3,797,264			2,890,450		27,468,153		30,358,603		(13,674,820	)		16,683,783		38,039,912
Sunforest	Davie, FL		1989			494		10,000,000		32,124,850		—		4,030,481			10,000,000		36,155,331		46,155,331		(11,194,003	)		34,961,328		(L	)
Sunforest II	Davie, FL		(F	)		—		—		337,751		—		—			—		337,751		337,751		—			337,751		(L	)
Talleyrand	Tarrytown, NY (I)		1997- 1998			300		12,000,000		49,838,160		—		3,696,522			12,000,000		53,534,682		65,534,682		(17,861,336	)		47,673,346		35,000,000
Tanglewood (VA)	Manassas, VA		1987			432		2,108,295		24,619,495		—		8,462,243			2,108,295		33,081,738		35,190,033		(18,128,350	)		17,061,683		25,110,000
Teresina	Chula Vista, CA		2000			440		28,600,000		61,916,670		—		1,767,940			28,600,000		63,684,610		92,284,610		(13,155,998	)		79,128,612		44,095,588
Touriel Building	Berkeley, CA (G)		2004			35		2,736,000		7,810,027		—		33,587			2,736,000		7,843,614		10,579,614		(1,392,156	)		9,187,458		5,050,000
Town Square at Mark Center I (fka Millbrook I)	Alexandria, VA		1996			406		24,360,000		86,178,714		—		2,422,299			24,360,000		88,601,013		112,961,013		(19,521,198	)		93,439,815		64,680,000
Town Square at Mark Center Phase II	Alexandria, VA		2001			272		15,568,464		55,031,536		—		34,830			15,568,464		55,066,366		70,634,830		(1,956,133	)		68,678,697		47,669,865
Tradition at Alafaya	Oviedo, FL		2006			253		7,590,000		31,881,505		—		238,496			7,590,000		32,120,001		39,710,001		(7,731,307	)		31,978,694		(K	)
Tuscany at Lindbergh	Atlanta, GA		2001			324		9,720,000		40,874,023		—		1,753,394			9,720,000		42,627,417		52,347,417		(11,365,288	)		40,982,129		32,360,000
Uptown Square	Denver, CO (G)		1999/2001			696		17,492,000		100,696,541		—		2,232,071			17,492,000		102,928,612		120,420,612		(24,014,273	)		96,406,339		88,550,000
Versailles	Woodland Hills, CA		1991			253		12,650,000		33,656,292		—		3,630,019			12,650,000		37,286,311		49,936,311		(11,205,924	)		38,730,387		30,372,953
Via Ventura	Scottsdale, AZ		1980			328		1,351,785		13,382,006		—		7,962,802			1,351,785		21,344,808		22,696,593		(14,368,306	)		8,328,287		(K	)
Village at Lakewood	Phoenix, AZ		1988			240		3,166,411		13,859,090		—		2,013,344			3,166,411		15,872,434		19,038,845		(7,739,644	)		11,299,201		(L	)
Vintage	Ontario, CA		2005- 2007			300		7,059,230		47,677,762		—		176,250			7,059,230		47,854,012		54,913,242		(8,609,805	)		46,303,437		33,000,000
Warwick Station	Westminster, CO		1986			332		2,274,121		21,113,974		—		3,015,763			2,274,121		24,129,737		26,403,858		(11,495,261	)		14,908,597		8,355,000
Wellington Hill	Manchester, NH		1987			390		1,890,200		17,120,662		—		7,628,748			1,890,200		24,749,410		26,639,610		(15,003,057	)		11,636,553		(I	)
Westgate Pasadena Apartments	Pasadena, CA		2010			480		22,898,848		131,986,739		—		(263	)		22,898,848		131,986,476		154,885,324		(185	)		154,885,139		135,000,000
Westwood Glen	Westwood, MA		1972			156		1,616,505		10,806,004		—		1,495,929			1,616,505		12,301,933		13,918,438		(4,379,593	)		9,538,845		392,294
Whisper Creek	Denver, CO		2002			272		5,310,000		22,998,558		—		843,388			5,310,000		23,841,946		29,151,946		(6,016,094	)		23,135,852		13,580,000
Wilkins Glen	Medfield, MA		1975			103		538,483		3,629,943		—		1,484,323			538,483		5,114,266		5,652,749		(2,071,249	)		3,581,500		1,011,750
Windridge (CA)	Laguna Niguel, CA		1989			344		2,662,900		23,985,497		—		5,111,877			2,662,900		29,097,374		31,760,274		(16,423,796	)		15,336,478		(I	)

EQUITY RESIDENTIAL

Schedule III—Real Estate and Accumulated Depreciation

December 31, 2010

Description		Date of Constr- uction			Units (H)		Initial Cost  to Company		Building & Fixtures		Cost Capit- alized Subse- quent to Acqui- sition (Improv- ements, net) (E)		Building & Fixtures			Gross Amount Carried at Close of Period 12/31/10		Building & Fixtures (A)		Total (B)		Accum- ulated Depre- ciation (C)			Investment in  Real Estate, Net at 12/31/10 (B)		Encum- brances
Apartment Name	Location						Land				Land					Land
Woodlake (WA)	Kirkland, WA		1984			288		6,631,400		16,735,484		—		2,745,189			6,631,400		19,480,673		26,112,073		(9,005,733	)		17,106,340		(L	)
EQR Wholly Owned Encumbered						39,395		1,192,346,786		4,453,550,234		—		370,524,330			1,192,346,786		4,824,074,564		6,016,421,350		(1,346,626,508	)		4,669,794,842		2,595,245,052
EQR Partially Owned Unencumbered:
Butterfield Ranch	Chino Hills, CA		(F	)		—		15,617,709		4,512,495		—		—			15,617,709		4,512,495		20,130,204		—			20,130,204		—
Hudson Crossing II	New York, NY		(F	)		—		5,000,000		—		—		—			5,000,000		—		5,000,000		—			5,000,000		—
EQR Partially Owned Unencumbered						—		20,617,709		4,512,495		—		—			20,617,709		4,512,495		25,130,204		—			25,130,204		—
EQR Partially Owned Encumbered:
Brooklyner (fka 111 Lawrence)	Brooklyn, NY (G)		2010			490		40,099,922		217,648,526		—		(1,947	)		40,099,922		217,646,579		257,746,501		—			257,746,501		141,741,076
1401 South State (fka City Lofts)	Chicago, IL		2008			278		6,882,467		61,575,245		—		53,017			6,882,467		61,628,262		68,510,729		(5,846,831	)		62,663,898		51,014,150
2300 Elliott	Seattle, WA		1992			92		796,800		7,173,725		—		5,462,325			796,800		12,636,050		13,432,850		(7,894,112	)		5,538,738		6,833,000
Bellevue Meadows	Bellevue, WA		1983			180		4,507,100		12,574,814		—		4,122,712			4,507,100		16,697,526		21,204,626		(7,309,912	)		13,894,714		16,538,000
Canyon Creek (CA)	San Ramon, CA		1984			268		5,425,000		18,812,121		—		4,809,646			5,425,000		23,621,767		29,046,767		(8,225,808	)		20,820,959		28,000,000
Canyon Ridge	San Diego, CA		1989			162		4,869,448		11,955,064		—		1,757,641			4,869,448		13,712,705		18,582,153		(6,531,026	)		12,051,127		15,165,000
Copper Creek	Tempe, AZ		1984			144		1,017,400		9,158,260		—		1,846,036			1,017,400		11,004,296		12,021,696		(5,587,555	)		6,434,141		5,112,000
Country Oaks	Agoura Hills, CA		1985			256		6,105,000		29,561,865		—		3,142,792			6,105,000		32,704,657		38,809,657		(10,694,009	)		28,115,648		29,412,000
EDS Dulles	Herndon, VA		(F	)		—		18,875,631		—		—		—			18,875,631		—		18,875,631		—			18,875,631		18,342,242
Fox Ridge	Englewood, CO		1984			300		2,490,000		17,522,114		—		3,394,463			2,490,000		20,916,577		23,406,577		(8,158,317	)		15,248,260		20,300,000
Lantern Cove	Foster City, CA		1985			232		6,945,000		23,332,206		—		2,722,185			6,945,000		26,054,391		32,999,391		(8,961,365	)		24,038,026		36,403,000
Mesa Del Oso	Albuquerque, NM		1983			221		4,305,000		12,160,419		—		1,556,306			4,305,000		13,716,725		18,021,725		(5,210,415	)		12,811,310		9,525,810
Montclair Metro	Montclair, NJ		2009			163		2,400,887		43,570,641		—		2,092			2,400,887		43,572,733		45,973,620		(2,218,030	)		43,755,590		34,439,480
Monterra in Mill Creek	Mill Creek, WA		2003			139		2,800,000		13,255,123		—		236,867			2,800,000		13,491,990		16,291,990		(3,232,493	)		13,059,497		7,286,000
Preserve at Briarcliff	Atlanta, GA		1994			182		6,370,000		17,766,322		—		646,793			6,370,000		18,413,115		24,783,115		(3,777,603	)		21,005,512		6,000,000
Red Road Commons	Miami, FL (G)		2009			404		27,383,547		99,555,530		—		(2,216	)		27,383,547		99,553,314		126,936,861		(3,497,205	)		123,439,656		74,150,144
Rosecliff	Quincy, MA		1990			156		5,460,000		15,721,570		—		1,453,717			5,460,000		17,175,287		22,635,287		(6,797,434	)		15,837,853		17,400,000
Schooner Bay I	Foster City, CA		1985			168		5,345,000		20,509,239		—		3,191,061			5,345,000		23,700,300		29,045,300		(7,741,356	)		21,303,944		27,000,000
Schooner Bay II	Foster City, CA		1985			144		4,550,000		18,142,163		—		2,985,085			4,550,000		21,127,248		25,677,248		(6,970,045	)		18,707,203		23,760,000
Scottsdale Meadows	Scottsdale, AZ		1984			168		1,512,000		11,423,349		—		1,629,554			1,512,000		13,052,903		14,564,903		(6,274,752	)		8,290,151		9,100,000
Strayhorse at Arrowhead Ranch	Glendale, AZ		1998			136		4,400,000		12,968,002		—		186,009			4,400,000		13,154,011		17,554,011		(2,422,470	)		15,131,541		7,971,429
Surrey Downs	Bellevue, WA		1986			122		3,057,100		7,848,618		—		1,993,876			3,057,100		9,842,494		12,899,594		(4,301,654	)		8,597,940		9,829,000
Veridian (fka Silver Spring)	Silver Spring, MD (G)		2009			457		18,539,817		130,485,284		—		18,886			18,539,817		130,504,170		149,043,987		(6,908,776	)		142,135,211		115,744,722
Virgil Square	Los Angeles, CA		1979			142		5,500,000		15,216,613		—		1,334,954			5,500,000		16,551,567		22,051,567		(3,992,519	)		18,059,048		9,900,000
Willow Brook (CA)	Pleasant Hill, CA		1985			228		5,055,000		38,388,672		—		1,857,343			5,055,000		40,246,015		45,301,015		(10,264,218	)		35,036,797		29,000,000
EQR Partially Owned Encumbered						5,232		194,692,119		866,325,485		—		44,399,197			194,692,119		910,724,682		1,105,416,801		(142,817,905	)		962,598,896		749,967,053
Portfolio/Entity Encumbrances (1)						—		—		—		—		—			—		—		—		—			—		1,417,683,780
Total Consolidated Investment in Real Estate						124,866	$	4,336,999,983	$	13,999,852,420	$	—	$	1,365,518,589		$	4,336,999,983	$	15,365,371,009	$	19,702,370,992	$	(4,337,356,641	)	$	15,365,014,351	$	4,762,895,885

(1) See attached Encumbrances Reconciliation.

EQUITY RESIDENTIAL

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2010

NOTES:

(A) The balance of furniture & fixtures included in the total investment in real estate amount was $1,231,391,664 as of December 31, 2010.

(B) The cost, net of accumulated depreciation, for Federal Income Tax purposes as of December 31, 2010 was approximately $11.1 billion.

(C) The life to compute depreciation for building is 30 years, for building improvements ranges from 5 to 10 years, for furniture & fixtures and replacements is 5 years, and for in-place leases is the average remaining term of each respective lease.

(D) This asset consists of various acquisition dates and largely represents furniture, fixtures and equipment, leasehold improvements and capitalized software costs owned by the Management Business, which are generally depreciated over periods ranging from 3 to 7 years.

(E) Primarily represents capital expenditures for major maintenance and replacements incurred subsequent to each property’s acquisition date.

(F) Represents land and/or construction-in-progress on projects either held for future development or projects currently under development.

(G) A portion or all of these properties includes commercial space (retail, parking and/or office space).

(H) Total properties and units exclude the Military Housing consisting of two properties and 4,738 units.

(I) through (L) See Encumbrances Reconciliation schedule.

(M) Boot property for Freddie Mac tax-exempt bond pool.