<SEC-DOCUMENT>0000895417-20-000055.txt : 20200504
<SEC-HEADER>0000895417-20-000055.hdr.sgml : 20200504
<ACCEPTANCE-DATETIME>20200504201448
ACCESSION NUMBER:		0000895417-20-000055
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200501
FILED AS OF DATE:		20200504
DATE AS OF CHANGE:		20200504

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Huang Tao
		CENTRAL INDEX KEY:			0001324003

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11718
		FILM NUMBER:		20846522

	MAIL ADDRESS:	
		STREET 1:		C/O MORNINGSTAR, INC.
		STREET 2:		225 WEST WACKER DRIVE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQUITY LIFESTYLE PROPERTIES INC
		CENTRAL INDEX KEY:			0000895417
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				363857664
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		TWO N RIVERSIDE PLZ
		STREET 2:		STE 800
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3122791400

	MAIL ADDRESS:	
		STREET 1:		TWO N RIVERSIDE PLAZE
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MANUFACTURED HOME COMMUNITIES INC
		DATE OF NAME CHANGE:	19940218
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_158863767019380.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-05-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000895417</issuerCik>
        <issuerName>EQUITY LIFESTYLE PROPERTIES INC</issuerName>
        <issuerTradingSymbol>ELS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001324003</rptOwnerCik>
            <rptOwnerName>Huang Tao</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O EQUITY LIFESTYLE PROPERTIES</rptOwnerStreet1>
            <rptOwnerStreet2>TWO NORTH RIVERSIDE PLAZA, SUITE 800</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.01</value>
            </securityTitle>
            <transactionDate>
                <value>2020-05-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>196</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>45.18</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28860</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>74.53</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-05-10</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-05-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13420.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13420</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>74.53</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-05-10</value>
            </exerciseDate>
            <expirationDate>
                <value>2026-05-10</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1680.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15100</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>81.15</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-05-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2027-05-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>12320.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>27420</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>81.15</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-05-02</value>
            </exerciseDate>
            <expirationDate>
                <value>2027-05-02</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1540.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28960</value>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>89.65</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2020-05-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2028-05-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>11150.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40110</value>
                    <footnoteId id="F6"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Non-Qualified Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>89.65</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-05-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2028-05-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $.01</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1390.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>41500</value>
                    <footnoteId id="F7"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares acquired through ELS' Employee Stock Purchase Plan</footnote>
        <footnote id="F2">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 6,710 additional shares of common stock.</footnote>
        <footnote id="F3">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 840 additional shares of common stock.</footnote>
        <footnote id="F4">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 6,160 additional shares of common stock.</footnote>
        <footnote id="F5">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 770 additional shares of common stock.</footnote>
        <footnote id="F6">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 5,575 additional shares of common stock.</footnote>
        <footnote id="F7">On October 15, 2019, the common stock of Equity LifeStyle Properties, Inc. split 2-for-1, resulting in the reporting person's acquisition of non-qualified stock options for 695 additional shares of common stock.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Jennifer Krebs by Power of Attorney for Tao Huang</signatureName>
        <signatureDate>2020-05-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
