EXHIBIT 21 EQUITY RESIDENTIAL PROPERTIES TRUST SUBSIDIARIES ------------ 1. ERP Operating Limited Partnership 2. Equity Residential Properties Management Limited Partnership 3. Equity Residential Properties Management Limited Partnership II 4. Equity Residential Properties Management Corp. I (own preferred stock only, not common) 5. Equity Residential Properties Management Corp. II (own preferred stock only, not common) 6. EQR-BS Financing Limited Partnership 7. EQR-Chaparral Creek GP Limited Partnership 8. EQR-Lincoln Green I and II GP Limited Partnership 9. EQR-Lodge (OK) GP Limited Partnership 10. EQR-Stonebrook GP Limited Partnership 11. EQR-Sleepy Hollow Financing Limited Partnership 12. EQR-EOI Financing Limited Partnership 13. EQR-Continental Villas Financing Limited Partnership 14. EQR-Doral Financing Limited Partnership 15. EQR-Governor's Place Financing Limited Partnership 16. EQR-Plantation Financing Limited Partnership 17. EQR-Valley Park South Financing Limited Partnership 18. EQR-Yorktowne Financing Limited Partnership 19. EQR-SWN Line Financing Limited Partnership 20. EQR-Arbors Financing Limited Partnership 21. EQR-Breton Hammocks Financing Limited Partnership 22. EQR-Emerald Place Financing Limited Partnership 23. EQR-Essex Place Financing Limited Partnership 24. EQR-Met Financing Limited Partnership 25. EQR-Met CA Financing Limited Partnership 26. EQR-Wellington Hill Financing Limited Partnership - (New Hampshire) 27. EQR-Tanasbourne Terrace Financing Limited Partnership 28. EQR-Reserve Square Limited Partnership - (Ohio) 29. EQR-Fountainhead I Financing General Partnership 30. EQR-Fountainhead II Financing General Partnership 31. EQR-Fountainhead III Financing General Partnership 32. E-Chaparral Associates Limited Partnership 33. Equity-Chaparral Venture Limited Partnership 34. E-G-One Associates 35. Equity Green I Venture 36. E-G-Two Associates 37. Equity-Green II Venture 38. E-Stonebrook Associates 39. Equity-Stonebrook Venture Limited Partnership 40. E-Lodge Associates Limited Partnership 41. Equity-Lodge Venture Limited Partnership 42. Country Club Associates Limited Partnership 43. Second Country Club Associates Limited Partnership 44. Second Georgian Woods Limited Partnership 45. Greenwich Woods Associates Limited Partnership 46. Artery Northampton Limited Partnership 47. Third Towne Centre Limited Partnership 48. Fourth Towne Centre Limited Partnership 49. Georgian Woods Annex Associates 50. EQR-Keystone Financing General Partnership 51. EQR-Camellero Financing Limited Partnership 52. EQR-Arizona, L.L.C. - (Delaware) 53. EQR-Washington, L.L.C. - (Delaware) 54. EQR-Wellington, L.L.C. - (Delaware) 55. EQR-Oregon, L.L.C. - (Delaware) 56. EQR-Waterfall, L.L.C. - (Delaware) 57. EQR-Virginia, L.L.C. - (Delaware) 58. Multifamily Portfolio LP Limited Partnership 59. EQR-Plantation, L.L.C. - (Delaware) 60. EQR-California, L.L.C.; 61. EQR-ArtBHolder, L.L.C.; 62. EQR-ArtCapLoan, L.L.C.; 63. EQR-Keystone Financing G.P.; 64. Country Ridge General Partnership; 65. Rosehill Pointe General Partnership; 66. EQR-Canter Chase General Partnership; 67. Hunter's Glen General Partnership; 68. Sunny Oak Village General Partnership; 69. EQR-Pine Meadows Garden General Partnership; 70. EQR-Bond Partnership; 71. EQR-Park Place I General Partnership; 72. EQR-Park Place II General Partnership; 73. Songbird General Partnership; 74. Cedar Crest General Partnership; 75. EQR-Creekside Oaks General Partnership; 76. EQR-Village Oaks General Partnership; 77. EQR-Lakeville Resort General Partnership; 78. EQR-Trails at Dominion General Partnership; 79. EQR-Virginia, L.L.C.; 80. EQR-Dartmouth Woods General Partnership 81. Wadlington Investments General Partnership 82. EQR-Warwick, L.L.C.; 83. EQR-Ironwood, L.L.C.; 84. EQR-Spinnaker Cove, L.L.C.; 85. EQR-Wyndridge II, L.L.C. 86. EQR-Wyndridge III, L.L.C.; 87. EQR-Highline Oaks, L.L.C.; 88. EQR-Marks A, L.L.C.; 89. EQR-Missouri, L.L.C.; 90. EQR-Ridgemont/Mountain Brook, L.L.C.; 91. EQR-Marks B, L.L.C.; 92. EQR-Coach Lantern, L.L.C.; 93. EQR-Foxcroft, L.L.C.; 94. EQR-Yarmouth, L.L.C.; 95. EQR-Chardonnay Park, L.L.C.; 96. EQR-Preston Bend General Partnership; 97. EQR-Villa Serenas General Partnership; 98. The Gates of Redmond, L.L.C.; 99. EQR-North Hill, L.L.C.; 100. EQR-Watson General Partnership; 101. CAPREIT Woodland Meadows Limited Partnership; 102. CAPREIT Burwick Farms Limited Partnership; 103. CAPREIT Mariner's Wharf Limited Partnership; 104. CAPREIT Silver Springs Limited Partnership; 105. CAPREIT Northlake Limited Partnership; 106. CAPREIT Tivoli Lakes Club Limited Partnership; 107. CAPREIT Eastland on the Lake Limited Partnership; 108. CAPREIT Concorde Bridge Limited Partnership; 109. CAPREIT Garden Lake Limited Partnership; 110. CAPREIT Highland Grove Limited Partnership; 111. CAPREIT Clarion Limited Partnership; 112. CAPREIT Atrium Limited Partnership; 113. CAPREIT Chimneys Limited Partnership; 114. CAPREIT Creekwood Limited Partnership; 115. CAPREIT Hidden Oaks Limited Partnership; 116. CAPREIT Botany Arms Limited Partnership; 117. CAPREIT Hampton Arms Limited Partnership; 118. CAPREIT Gleneagle Limited Partnership; 119. CAPREIT Greyeagle Limited Partnership; 120. CAPREIT Tarmarind at Stonebridge Limited Partnership; 121. CAPREIT Sycamore Ridge Limited Partnership; 122. Capital Realty Investors Tax Exempt Fund Limited Partnership; 123. CRICO of Fountain Place Limited Partnership; 124. CRICO of Woodland Place Limited Partnership; 125. CRICO of Royal Oaks Limited Partnership; 126. CRICO of Trailway Pond I Limited Partnership; 127. CRICO of Valley Creek I Limited Partnership; 128. CRICO of Valley Creek II Limited Partnership; 129. CRICO of White Bear Woods I Limited Partnership; 130. CRICO of James Street Crossing Limited Partnership 131. CRICO of Regency Woods Limited Partnership 132. CRICO of Ocean Walk Limited Partnership 133. CRICO of Trailway Pond II Limited Partnership; 134. CRICO of Ethan's I Limited Partnership; 135. CRICO of Ethans II Limited Partnership; 136. FPAII Limited Partnership; 137. CAPREIT Arbor Glen Limited Partnership; 138. CAPREIT Woodcrest Villa Limited Partnership; 139. CAPREIT Farmington Gates Limited Partnership; 140. CAPREIT Ridgeway Commons Limited Partnership; 141. CAPREIT River Oak Limited Partnership; 142. CAPREIT Cedars Limited Partnership; 143. CAPREIT Westwood Pines Limited Partnership; 144. Geary Courtyard Associates; 145. EQR-Vinings at Ashley Lake, L.L.C.; 146. EQR-Flatlands, L.L.C.; 147. EQR-Fairfield, L.L.C.; 148. Evans Withycombe Residential, L.P.; 149. McKinley Hills Partners-85; 150. EW Chandler Limited Partnership; 151. Evans Withycombe Finance Partnership, L.P.; 152. EQR-740 River Drive, L.L.C.; 153. Rolido Park General Partnership; 154. EQR/Lincoln Guaranty Credit Limited Partnership; 155. EQR/Lincoln No. One Master Limited Partnership; and 156. Evans Withycombe Residential, L.P. EXHIBIT 21 QRS CORPORATIONS 1. ERP-QRS BS, Inc.; 2. ERP-QRS Lincoln Green, Inc.; 3. ERP-QRS Lodge (OK), Inc.; 4. ERP-QRS Stonebrook, Inc.; 5. ERP-QRS Sleepy Hollow, Inc.; 6. ERP-QRS EOI, Inc.; 7. ERP-QRS Continental Villas, Inc.; 8. ERP-QRS Doral, Inc.; 9. ERP-QRS Governor's Place, Inc.; 10. ERP-QRS Plantation, Inc.; 11. ERP-QRS Valley Park South, Inc.; 12. ERP-QRS Yorktowne, Inc.; 13. ERP-QRS SWN Line, Inc.; 14. ERP-QRS Arbors, Inc.; 15. ERP-QRS Breton Hammocks, Inc.; 16. ERP-QRS Emerald Place, Inc.; 17. ERP-QRS Essex Place, Inc.; 18. ERP-QRS Met,Inc.; 19. ERP-QRS Met CA, Inc.; 20. ERP-QRS Wellington Hill, Inc.; 21. ERP-QRS Tanasbourne Terrace, Inc.; 22. ERP-QRS Reserve Square, Inc.; 23. EQR-QRS Camellero, Inc.; 24. QRS-LLC, Inc.; 25. QRS-Waterfall, Inc.; 26. QRS-ArtBHolder, Inc.; 27. QRS-ArtCapLoan, Inc. 28. ERP-QRS Rosehill Pointe, Inc.; 29. ERP-QRS Country Ridge, Inc.; 30. ERP-QRS Lakeville Resort, Inc.; 31. ERP-QRS Park Place I, Inc.; 32. ERP-QRS Park Place II, Inc.; 33. ERP-QRS Sunny Oak Village, Inc.; 34. ERP-QRS Pine Meadows Garden, Inc.; 35. ERP-QRS Hunter's Glen, Inc.; 36. ERP-QRS Canter Chase, Inc; 37. QRS-Bond, Inc.; 38. ERP-QRS Songbird, Inc.; 39. ERP-QRS Cedar Crest, Inc.; 40. ERP-QRS Creekside Oaks, Inc.; 41. ERP-QRS Village Oaks, Inc.; 42. ERP-QRS Lakeville Resort, Inc.; 43. ERP-QRS Trails at Dominion, Inc.; 44. ERP-QRS Dartmouth Woods, Inc. 45. Wadlington, Inc.; 46. QRS-Marks A, Inc.; 47. QRS-Marks B, Inc.; 48. QRS-Warwick, Inc.; 49. QRS-Ironwood, Inc.; 50. EQR-QRS Ridgemont/Mountain Brook, Inc.; 51. EQR-QRS Spinnaker Cove, Inc.; 52. EQR-QRS Wyndridge II, Inc.; 53. ERP-QRS Villa Serenas, Inc.; 54. EQR-QRS Wyndridge III, Inc.; 55. EQR-QRS Highline Oaks, Inc.; 56. QRS-Coach Lantern, Inc.; 57. QRS-Foxcroft, Inc.; 58. QRS-Yarmouth Woods, Inc.; 59. QRS-Chardonnay Park, Inc.; 60. ERP-QRS Preston Bend, Inc.; 61. QRS-Missouri, Inc.; 62. QRS-Gates of Redmond, Inc.; 63. QRS-North Hill, Inc.; 64. ERP-QRS Watson, Inc.; 65. ERP-QRS CPRT, Inc.; 66. ERP-QRS CPRT II, Inc.; 67. QRS-Vinnings at Ashley Lake, Inc.; 68. ERP-QRS Flatlands, Inc.; 69. ERP-QRS Fairfield, Inc.; 70. ERP-QRS Glenlake Club, Inc.; 71. QRS-740 River Drive, Inc.; 72. Evans Withycombe Finance, Inc.; and 73. ERP-QRS Rolido Parque, Inc.