<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c61443e8-k.txt
<DESCRIPTION>CURRENT REPORT
<TEXT>

<PAGE>   1
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                           -------------------------

                                    Form 8-K
                                 Current Report

                       PURSUANT TO SECTION 13 OR 15 (d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of Earliest Event Reported) April 3, 2001

                           -------------------------

                                GATX Corporation
             (Exact Name of Registrant as Specified in its Charter)


           New York                    1-2328                   36-1124040
(State or other jurisdiction   (Commission file number)      (I.R.S. employer
      of incorporation)                                   identification number)



                             500 West Monroe Street,
                          Chicago, Illinois 60661-3676
                    (Address of principal executive offices)

        Registrant's telephone number, including area code (312) 621-6200

<PAGE>   2


ITEM 5.  OTHER EVENTS.

         On April 2, 2001, GATX Corporation issued the following press release:
                  GATX Corporation (NYSE:GMT) today announced that it completed
the sale of GATX Terminals' Calnev Pipeline to Kinder Morgan Energy Partners,
L.P. The purchase price for the Calnev Pipeline was $375 million, including
approximately $360 million in cash and $15 million in assumed liabilities. This
transaction completes the sale of essentially all of GATX Terminals' domestic
operations.

         Ronald H. Zech, chairman of GATX Corporation, stated, "We are pleased
that the California Public Utilities Commission approved the Calnev sale and
that we were able to close the transaction with Kinder Morgan. The sale of GATX
Terminals' domestic operations to Kinder Morgan, encompassing Calnev and the
previous sale of other domestic operations, was a very successful transaction
that generated after-tax cash proceeds for GATX in excess of $700 million.

         "The timing of the GATX Terminals sale has been beneficial for GATX.
During the first quarter of 2001, we experienced excellent investment
opportunities and we have been putting capital to work in attractive markets.
The Terminals' proceeds, and our conservative approach to the use of the
proceeds, have enabled GATX to reinvest in our core businesses while also
maintaining a strong capital structure."

         Mr. Zech concluded, "The sale of GATX Terminals' domestic operations
has been a complex and lengthy process. The successful completion of this sale
is a testament to the many employees, both at GATX Corporation and GATX
Terminals, who dedicated themselves to completing this transaction. Our focus
will now shift to the sale of GATX Terminals' primary remaining operations, the
Asian terminals and joint ventures."

COMPANY DESCRIPTION
         GATX Corporation (NYSE: GMT) is a unique finance and leasing company
combining asset knowledge and services, structuring expertise, creative
partnering and risk capital to serve customers and partners worldwide. GATX
Corporation provides leasing and financial services responsive to the
specialized needs of a range of businesses. GATX Corporation specializes in
railcar and locomotive operating leasing, aircraft operating leasing,
information technology leasing, and venture finance for customers in diverse
industrial sectors worldwide.

FORWARD LOOKING STATEMENTS
         This press release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. This information may involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Although the company believes that the
expectations reflected in such forward-looking statements are based on
reasonable assumptions, such statements are subject to risks and uncertainties
that could cause actual results to differ materially from those projected.


<PAGE>   3


                                   SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                                                  GATX CORPORATION
                                         -----------------------------------
                                                    (Registrant)

                                                /s/ Brian A. Kenney
                                         -----------------------------------
                                                  Brian A. Kenney
                                                 Vice President and
                                              Chief Financial Officer
                                             (Duly Authorized Officer)



Date:  April 3, 2001
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