Exhibit 12.1

Equity LifeStyle Properties, Inc.

Computation of Ratio of Earnings to

Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)

			Year Ended December 31,
	Nine Months Ended September 30, 2017		2016		2015		2014		2013		2012
Income before equity in income of unconsolidated joint ventures		159,527		184,527		146,423		132,433		75,208		61,848
Combined fixed charges and preferred stock dividends	$	81,638		111,256		114,957		121,569		127,802		138,605
Earnings	$	241,165	$	295,783	$	261,380	$	254,002	$	203,010	$	200,453
Interest incurred		72,053		98,316		101,777		107,866		113,566		118,596
Amortization of deferred financing costs and other		2,676		3,714		3,954		4,429		4,956		5,396
Perpetual Preferred OP unit Distributions		—		—		—		—		—		—
Preferred stock dividends		6,910		9,226		9,226		9,274		9,280		14,613
Combined fixed charges and preferred stock dividends	$	81,638	$	111,256	$	114,957	$	121,569	$	127,802	$	138,605
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends		2.95		2.66		2.27		2.09		1.59		1.45