<ARTICLE> 5 <CIK> 0001063761 <NAME> CORPORATE PROPERTY INVESTORS INC <MULTIPLIER> 1,000 <PERIOD-TYPE> YEAR 3-MOS <FISCAL-YEAR-END> DEC-31-1997 DEC-31-1998 <PERIOD-START> JAN-01-1997 JAN-01-1998 <PERIOD-END> DEC-31-1997 MAR-31-1998 <CASH> 124,808 16,196 <SECURITIES> 40,000 0 <RECEIVABLES> 89,792 79,479 <ALLOWANCES> (18,429) (18,165) <INVENTORY> 0 0 <CURRENT-ASSETS> 0 0 <PP&E> 3,062,072 3,216,156 <DEPRECIATION> 644,748 639,477 <TOTAL-ASSETS> 2,810,254 2,808,756 <CURRENT-LIABILITIES> 0 0 <BONDS> 859,060 857,648 <PREFERRED-MANDATORY> 0 0 <PREFERRED> 209,249 209,249 <COMMON> 26,419 26,415 <OTHER-SE> 1,566,946 1,592,488 <TOTAL-LIABILITY-AND-EQUITY> 2,810,254 2,808,756 <SALES> 0 0 <TOTAL-REVENUES> 493,788 128,404 <CGS> 0 0 <TOTAL-COSTS> 288,083 72,003 <OTHER-EXPENSES> 0 0 <LOSS-PROVISION> 2,732 726 <INTEREST-EXPENSE> 69,562 16,474 <INCOME-PRETAX> 277,211 81,527 <INCOME-TAX> 0 81,527 <INCOME-CONTINUING> 277,211 81,527 <DISCONTINUED> 0 0 <EXTRAORDINARY> 0 0 <CHANGES> 0 0 <NET-INCOME> 277,211 81,527 <EPS-PRIMARY> 10.20 3.08 <EPS-DILUTED> 10.14 3.01