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THE CHICAGO DOCK AND CANAL TRUST ANNOUNCES FOURTH QUARTER EARNINGS FOR FISCAL YEAR 1993

 CHICAGO, July 29 /PRNewswire/ -- The Chicago Dock and Canal Trust (NASDAQ: DOCKS), a publicly held real estate investment trust, today reported a loss of $205,000 or $.04 per share compared to a loss of $1,158,000 or $.20 per share for the same period in the prior year.
 For the fiscal year ended April 30, 1993, the trust reported a loss of $2,254,000 or $.39 per share compared to income before gain from disposition of real estate of $1,360,000 or $.24 per share in the prior year. Income after gain from disposition of real estate for the fiscal year ended April 30, 1992 was $45,209,000 or $7.82 per share, including a gain from disposition of real estate of $43,849,000 or $7.58 per share. There was no gain from disposition of real estate in fiscal 1993. The gain from disposition of real estate in fiscal 1992 relates to the exchange of the trust's 62 percent undivided interest in the Equitable Building in Chicago for the Midrise Buildings at Cityfront Place in Chicago.
 The Chicago Dock and Canal Trust is a real estate investment trust engaged primarily in the business of acquiring and holding real estate and interests in real estate for investment. The trust, formed in 1962, is successor to The Chicago Dock and Canal Company, founded in 1857 by Chicago's first mayor, William Ogden. The trust owns or controls assets which include a 424-unit apartment complex, a one-third interest in a 480-unit apartment building and approximately 20 acres of land all in Cityfront Center, a mixed-use project currently under development in Chicago. The trust also owns Lincoln Garden (a 73,000-square-foot office complex in Tampa, Fla.), Waterplace Park (a 107,000-square-foot office complex in Indianapolis, Ind.), and One Michigan Avenue (a 144,000-square-foot office building in Lansing, Mich.).
 THE CHICAGO DOCK AND CANAL TRUST
 Fourth Quarter 1993 Earnings
 Fourth Quarter Fourth Quarter
 Periods ended
 April 30 1993 1992
 Net income (loss) $ (205,000) $(1,158,000)
 Net income (loss)
 per share $(.04) $(.20)
 Periods ended
 April 30 Twelve Months Twelve Months
 1993 1992
 Net income (loss)
 before gain from
 disposition of
 real estate $(2,254,000) $1,360,000
 Gain from disposition
 of real estate -- 43,849,000
 Net income (loss) $(2,254,000) $45,209,000
 Net income (loss) per
 share before gain from
 disposition of real estate $(.39) $.24
 Per share gain from
 disposition of real estate -- 7.58
 Net Income (Loss)
 Per Share $(.39) $7.82
 -0- 7/29/93
 /CONTACT: David Tinkham of Chicago Dock and Canal Trust, 312-467-1870, or Amy Collins of Marcy Monyek and Associates, 312-263-2135, for Chicago Dock and Canal Trust/
 (DOCKS)


CO: Chicago Dock and Canal Trust ST: Illinois IN: FIN SU: ERN

TM -- NY124 -- 7461 07/29/93 17:30 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
Words:472
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