Jones Lang LaSalle will focus specifically on three tasks: serving as CTA’s real estate broker, securing concessions at CTA stations, and increasing efforts to establish transit-oriented development across the CTA system.  The outsourcing of real estate management responsibilities will help to improve operational efficiencies and enhance revenue opportunities for the agency.

This is the first time the CTA has outsourced management of its real estate portfolio.

Leading the Jones Lang LaSalle/TR Advisors team are Kurt Little, Managing Director of Jones Lang LaSalle, and Lorna Moritz, Executive Director of TR Advisors.

“The CTA,  similar to many public-sector entities, has a strong asset base that may be leveraged to support its limited funds for operation ”, said Mr. Little.  “Our team has focused our project plan on structuring creative real estate management, leasing, and monetization strategies that will capitalize upon the inherent value of the CTA’s real estate assets.”

Added Ms. Moritz, “Our experience in managing the extensive real estate portfolio of the MBTA, has allowed us to develop a business practice wholly dedicated to the unique needs of the transit agency and its riders”.

In 1996, the Massachusetts Bay Transportation Authority (MBTA) contracted with TR Associates for the management of its real estate assets.  Since that time, TR Associates has generated over $150 million in revenues from real estate and created a pipeline of potential surplus property sales valued at over $100 million.

“Improving service for our customers goes beyond buying new buses and rail cars.  It is also about providing value-added services that make transit a true convenience in every aspect and strengthen CTA’s relationships with the communities it serves,” said CTA President Ron Huberman.  “Rail stations should be more than a place where riders board and exit trains.  We want to provide convenient services for riders to access, some place where they can drop off dry cleaning on the way to work and grab a latte as they head in to the office.  Transit-oriented development will position CTA as an anchor within communities and help attract further capital improvements through commercial and residential development.”

In addition to TR Advisors’ proven results with the MBTA, Jones Lang LaSalle is presently serving as:

• Real estate advisor for the Port Authority of New York and New Jersey for the redevelopment of the World Trade Center site;
• Master developer for the Bay Area Rapid Transit’s mixed-use transit oriented development project at the Wes Dublin/Pleasanton Station;
• Advisor to Chicago O’Hare International Airport, providing marketing and transaction services for the Airports new North Airfield air cargo development;
• Advisor to the Metropolitan Transit Authority, New York.

About the CTA
The CTA operates the nation's second largest public transportation system and covers the City of Chicago and 40 surrounding suburbs. On an average weekday, 17 million rides are taken on the CTA.

CTA has more than  2,000 buses that operate over 153 routes and 2,517 route miles. Buses provide about 1 million passenger trips a day and serve more than 12,000 posted bus stops. CTA's 1,190 rapid transit cars operate over eight routes and 224.1 miles of track. CTA trains provide about 600,000 customer trips each day and serve 144 stations.

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 2007 global revenue of $2.7 billion, Jones Lang LaSalle has approximately 180 offices worldwide and operates in more than 700 cities in 60 countries.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 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 $54 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.