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News release

Chicago

CTA and Jones Lang LaSalle Launch Web Site to Promote Available Assets


CHICAGO, February 18, 2009 – As the exclusive real estate advisors to the Chicago Transit Authority (CTA), Jones Lang LaSalle today announced that it has launched www.ctarealestate.com which provides detailed information on CTA owned assets that are available for sale or lease.   The site also provides information on future opportunities that will be released such as vending, ATM’s and Transportation Oriented Development (TOD) projects.
 
Presently available on the web site is a request for proposals (RFP) for the operation and management of 12 Park & Ride lots and 34 Under 'L' Parking locations.
 
“The CTA owns some premium assets throughout Chicagoland,” said Kurt Little, Managing Director, Jones Lang LaSalle.  “Quite a few of these locations are either for sale or available for leasing.  The built in client base of over 500 million annual riders provides a unique opportunity for retailers and banking institutions to capitalize on an existing and growing market.”
 
In July of 2008, Jones Lang LaSalle and Transit Realty Advisors (TRA) were named as the CTA’s exclusive advisors for the organizations real estate assets throughout Chicagoland.  This is the first time in the CTA’s history that it has outsourced its real estate function.  Jones Lang LaSalle and TRA are tasked with improving the agency’s operational efficiencies and enhancing non fare-box revenue.
 
Little added, “The website is designed to provide information about the assets as well as the process for leasing or buying properties. We believe it will be a value add to the agency and the general public.”
 
Investors, developers and retailers will benefit from the site as it will provide a “one stop” location to navigate the CTA’s offerings and is expected to help streamline the process of working with the CTA. 
 
About Jones Lang LaSalle
 
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.3 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.