Market Overview

ELS Declares Third Quarter Dividends

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The Board of Directors of Equity LifeStyle Properties, Inc. (NYSE:ELS)
(referred to herein as "we," "us" and "our") declared a third quarter
2018 dividend of $0.55 per common share, representing, on an annualized
basis, a dividend of $2.20 per common share. The dividend will be paid
on October 12, 2018 to stockholders of record on September 28, 2018.

Our Board of Directors has also increased the size of the Board by one
director to nine members and elected Mr. Scott R. Peppet to fill the
vacancy created by the increase in the number of directors. The Board
also appointed Mr. Peppet to the Strategic Planning Committee.

Mr. Peppet, age 48, has been a Professor of Law at the University of
Colorado Law School since 2000. Mr. Peppet is president, senior managing
director and a member of the investment committee of Chai Trust Company,
LLC. Mr. Peppet has been a member of the ownership committee of Equity
International, LLC since 2012, and a director of Anixter International,
Inc., a publicly traded global distributor of network, electronic and
utility power solutions, since 2014. Mr. Peppet is the son-in-law of Mr.
Samuel Zell, who serves as Chairman of the Board.

Mr. Peppet brings experience in contracts, negotiations, complex
transactions, legal ethics, privacy law and technology to the Board
along with an outstanding record of leadership and deep experience in
the legal field. He has authored several articles on the ways in which
information technologies are changing markets and the policy
implications of such technologies, which have been presented at the
Federal Trade Commission, the International Conference on Privacy and
Data Protection, the Privacy Law Scholars Conference, and other invited
venues. Mr. Peppet's work has been recognized in various news
publications, including the New York Times and on National Public Radio.

This press release includes certain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
When used, words such as "anticipate," "expect," "believe," "project,"
"intend," "may be" and "will be" and similar words or phrases, or the
negative thereof, unless the context requires otherwise, are intended to
identify forward-looking statements and may include without limitation,
information regarding our expectations, goals or intentions regarding
the future, and the expected effect of our acquisitions. These
forward-looking statements are subject to numerous assumptions, risks
and uncertainties, including, but not limited to:

  • our ability to control costs and real estate market conditions, our
    ability to retain customers, the actual use of Sites by customers and
    our success in acquiring new customers at our Properties (including
    those that we may acquire);
  • our ability to maintain historical or increase future rental rates and
    occupancy with respect to Properties currently owned or that we may
    acquire;
  • our ability to retain and attract customers renewing, upgrading and
    entering right-to-use contracts;
  • our assumptions about rental and home sales markets;
  • our ability to manage counter-party risk;
  • our ability to renew our insurance policies at existing rates and on
    consistent terms;
  • in the age-qualified Properties, home sales results could be impacted
    by the ability of potential home buyers to sell their existing
    residences as well as by financial, credit and capital markets
    volatility;
  • results from home sales and occupancy will continue to be impacted by
    local economic conditions, lack of affordable manufactured home
    financing and competition from alternative housing options including
    site-built single-family housing;
  • impact of government intervention to stabilize site-built single
    family housing and not manufactured housing;
  • effective integration of recent acquisitions and our estimates
    regarding the future performance of recent acquisitions;
  • the completion of future transactions in their entirety, if any, and
    timing and effective integration with respect thereto;
  • unanticipated costs or unforeseen liabilities associated with recent
    acquisitions;
  • ability to obtain financing or refinance existing debt on favorable
    terms or at all;
  • the effect of interest rates;
  • the dilutive effects of issuing additional securities;
  • the effect of changes in accounting for Leases set forth under the
    Codification Topic "Leases";
  • the outcome of pending or future lawsuits or actions brought against
    us, including those disclosed in our filings with the Securities and
    Exchange Commission; and
  • other risks indicated from time to time in our filings with the
    Securities and Exchange Commission.

For further information on these and other factors that could impact us
and the statements contained herein, refer to our filings with
the Securities and Exchange Commission, including "Risk Factors" in our
most recent Annual Report on Form 10-K and subsequent quarterly reports.

These forward-looking statements are based on management's present
expectations and beliefs about future events. As with any projection or
forecast, these statements are inherently susceptible to uncertainty and
changes in circumstances. We are under no obligation to, and expressly
disclaim any obligation to, update or alter our forward-looking
statements whether as a result of such changes, new information,
subsequent events or otherwise.

We own or have an interest in 410 quality properties in 32 states and
British Columbia consisting of 153,549 sites. We are a
self-administered, self-managed, real estate investment trust with
headquarters in Chicago.

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