EXHIBIT 23.2 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8) pertaining to the Fourth Amended and Restated 1993 Share Option and Share Award Plan of Equity Residential Properties Trust of our reports indicated below with respect to the financial statements indicated below included in the Company's filings as indicated below, filed with the Securities and Exchange Commission. DATE OF FINANCIAL STATEMENTS AUDITORS' REPORT FILING Consolidated financial February 26, 1998 Annual Report statements and schedule of except for Note 24, on Form 10-K Equity Residential Properties as to which the Trust at December 31, 1997 and date is March 12, for the year then ended 1998 Combined Statement of Revenue November 12, 1997 Current Report and Certain Expenses of the on Form 8-K, as CAPREIT Acquired and Probable amended by Properties for the year ended Form 8-K/A, December 31, 1996 dated October 9, 1997 Combined Statement of Revenue August 15, 1997 Current Report and Certain Expenses of the on Form 8-K, Ameritech Pension Trust Probable dated September Properties for the year ended 17, 1997 December 31, 1996 Combined Statement of Revenue September 5, 1997 Current Report and Certain Expenses of Paces on on Form 8-K, the Green and Paces Station for dated September the year ended December 31, 1996 17, 1997 Statement of Revenue and Certain July 17, 1997 Current Report Expenses of Cascade at Landmark on Form 8-K for the year ended December 31, dated August 1996 15, 1997 DATE OF FINANCIAL STATEMENTS AUDITORS' REPORT FILING Statement of Revenue and Certain July 2, 1997 Current Report Expenses of Sabal Palm Club on Form 8-K (formerly known as Post Crossing dated August (Pompano)) for the year ended 15, 1997 December 31, 1996 Statement of Revenue and Certain July 23, 1997 Current Report Expenses of Wood Creek (Pleasant on Form 8-K Hill) for the year ended dated August December 31, 1996 15, 1997 Statement of Revenue and Certain July 25, 1997 Current Report Expenses of LaMirage for the on Form 8-K year ended December 31, 1996 dated August 15, 1997 Statement of Revenue and Certain May 16, 1997 Current Report Expenses of Harborview for the on Form 8-K year ended December 31, 1996 dated May 20, 1997 Statement of Revenue and Certain May 6, 1997 Current Report Expenses of Trails at Dominion on Form 8-K for the year ended December 31, dated May 20, 1996 1997 Statement of Revenue and Certain May 7, 1997 Current Report Expenses of Rincon for the year on Form 8-K ended December 31, 1996 dated May 20, 1997 Statement of Revenue and Certain May 12, 1997 Current Report Expenses of Waterford at the on Form 8-K Lakes for the year ended dated May 20, December 31, 1996 1997 Statement of Revenue and Certain May 16, 1997 Current Report Expenses of Lincoln Harbour for on Form 8-K the year ended December 31, 1996 dated May 20, 1997 DATE OF FINANCIAL STATEMENTS AUDITORS' REPORT FILING Combined Statement of Revenue May 9, 1997 Current Report and Certain Expenses of Knights on Form 8-K Castle and Club at the Green for dated May 20, the year ended December 31, 1996 1997 Combined Statements of Revenue March 25, 1997 Current Report and Certain Expenses of the on Form 8-K Zell/Merrill Properties for each dated May 20, of the three years in the period 1997 ended December 31, 1996 Consolidated financial February 10, 1997 Joint Proxy statements and schedule of except for Note 13, Statement/ Wellsford Residential Property as to which the Prospectus on Trust at December 31, 1996 and date is February Form S-4/A dated 1995 and for each of the three 28, 1997 April 25, 1997 years in the period ended December 31, 1996 Consolidated financial January 31, 1997 Current Report statements and schedule of Evans on Form 8-K Withycombe Residential, Inc. and dated September subsidiaries at December 31, 10, 1997 1996 and 1995 and for each of the three years in the period ended December 31, 1996 /s/ Ernst & Young LLP Ernst & Young LLP Chicago, Illinois June 5, 1998