Exhibit 99.3

Equity LifeStyle Properties, Inc.
Pro-forma Consolidated Statements of Operations
For the Years Ended December 31, 2009, 2008 and 2007
(amounts in thousands, except per share data)

	2009			2008			2007
Property Operations:
Community base rental income	$	253,379		$	245,833		$	236,933
Resort base rental income		124,822			111,876			102,372
Right-to-use annual payments		50,765			19,667			—
Right-to-use contracts current period, gross		21,526			10,951			—
Right-to-use contracts, deferred, net of prior period amortization		(18,882	)		(10,611	)		—
Utility and other income		47,685			41,633			36,849
Property operating revenues		479,295			419,349			376,154
Gross revenues from home sales		7,136			21,845			33,333
Brokered resale revenues, net		758			1,094			1,528
Ancillary services revenues, net		2,745			1,197			2,436
Interest income		5,119			3,095			1,732
Income from other investments, net		8,168			17,006			22,476
Total revenues		503,221			463,586			437,659
Property operating and maintenance		(180,870	)		(152,363	)		(127,342	)
Real estate taxes		(31,674	)		(29,457	)		(27,429	)
Sales and marketing, gross		(13,536	)		(7,116	)		—
Sales and marketing, deferred commissions, net		5,729			3,644			—
Property management		(33,383	)		(25,451	)		(18,385	)
Property operating expenses (exclusive of depreciation shown separately below)		(253,734	)		(210,743	)		(173,156	)
Cost of home sales		(7,471	)		(24,069	)		(30,713	)
Home selling expenses		(2,383	)		(5,776	)		(7,555	)
General and administrative – corporate		(22,279	)		(20,617	)		(15,591	)
Rent control initiatives		(456	)		(1,555	)		(2,657	)
Interest and related amortization		(98,311	)		(99,430	)		(103,070	)
Depreciation on corporate assets		(1,039	)		(390	)		(437	)
Depreciation on real estate and other costs		(69,049	)		(66,193	)		(63,554	)
Total expenses		(454,722	)		(428,773	)		(396,733	)
Income before equity in income of unconsolidated joint ventures		48,499			34,813			40,926
Equity in income of unconsolidated joint ventures		2,896			3,753			2,696
Consolidated income from continuing operations		51,395			38,566			43,622
Discontinued Operations:
Discontinued operations		181			257			289
Gain (loss) from discontinued real estate		4,685			(79	)		12,036
Income from discontinued operations		4,866			178			12,325
Consolidated net income		56,261			38,744			55,947
Income allocated to non-controlling interests:
Common OP Units		(6,113	)		(4,297	)		(7,705	)
Perpetual Preferred OP Units		(16,143	)		(16,144	)		(16,140	)
Net income available for Common Shares	$	34,005		$	18,303		$	32,102

Equity LifeStyle Properties, Inc.
Pro-forma Consolidated Statements of Operations
For the Years Ended December 31, 2009, 2008 and 2007
(amounts in thousands, except per share data)

	2009		2008		2007
Earnings per Common Share — Basic:
Income from continuing operations	$	1.08	$	0.74	$	0.92
Income from discontinued operations	$	0.15	$	0.01	$	0.41
Net income available for Common Shares	$	1.23	$	0.75	$	1.33
Earnings per Common Share — Fully Diluted:
Income from continuing operations	$	1.07	$	0.74	$	0.90
Income from discontinued operations	$	0.15	$	0.01	$	0.41
Net income available for Common Shares	$	1.22	$	0.75	$	1.31
Distributions declared per Common Share outstanding	$	1.10	$	0.80	$	0.60
Tax status of Common Shares distributions deemed paid during the year:
Ordinary income	$	0.72	$	0.80	$	0.60
Long-term capital gain	$	0.24	$	—	$	—
Unrecaptured section 1250 gain	$	0.14	$	—	$	—
Weighted average Common Shares outstanding — basic		27,582		24,466		24,089
Weighted average Common Shares outstanding — fully diluted		32,944		30,498		30,414