UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 3

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940


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1. Name and Address of Reporting Person*

Mautner,                Hans                      C.
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   (Last)               (First)                 (Middle)

1088 Park Avenue
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                                    (Street)

New York,                          New York                       10028
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   (City)                           (State)                       (Zip)


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2. Date of Event Requiring Statement (Month/Day/Year)

   09/24/98

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3. IRS or Social Security Number of Reporting Person (Voluntary)


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4. Issuer Name and Ticker or Trading Symbol

   Simon Property Group, Inc. paired with SPG Realty Consultants, Inc. (SPG)
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5. Relationship of Reporting Person to Issuer
   (Check all applicable)

   [ X ]   Director                             [   ]   10% Owner
   [   ]   Officer (give title below)           [   ]   Other (specify below)



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6. If Amendment, Date of Original (Month/Year)


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7. Individual or Joint/Group Filing  (Check applicable line) 

   [ X ] Form Filed by One Reporting Person

   [   ] Form Filed by More than One Reporting Person

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             Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form: 2. Amount of Securities Direct (D) or 1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership (Instr. 4) (Instr. 4) (Instr. 5) (Instr.5) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock of Simon Property 289,620 D Group, Inc. paired with a beneficial interest in Common Stock of SPG Realty Consultants, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Series B Convertible Preferred 26,432 D Stock of Simon Property Group, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
* If the Form is filed by more than one Reporting Person, see Instruction 5(b)(v) Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. Page 1 of 2 FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
5. Owner- 3. Title and Amount of Securities ship Underlying Derivative Security Form of 2. Date Exercisable (Instr. 4) Derivative and Expiration Date --------------------------------- 4. Conver- Security: (Month/Day/Year) Amount sion or Direct 6. Nature of ---------------------- or Exercise (D) or Indirect Date Expira- Number Price of Indirect Beneficial 1. Title of Derivative Exer- tion of Derivative (I) Ownership Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5) - ------------------------------------------------------------------------------------------------------------------------------------ Stock Option 9/24/99 9/24/08 Common Stock of 79,166-2/3 Fair market D (right to buy) Simon Property value of Group, Inc. paired Common Stock with a beneficial of Simon interest in Common Property Group, Stock of SPG Realty Inc. on 9/24/98 Consultants, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Stock Option 9/24/00 9/24/08 Common Stock of 79,166-2/3 Fair market D (right to buy) Simon Property value of Group, Inc. paired Common Stock with a beneficial of Simon interest in Common Property Group, Stock of SPG Realty Inc. on 9/24/98 Consultants, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Stock Option 9/24/01 9/24/08 Common Stock of 79,166-2/3 Fair market D (right to buy) Simon Property value of Group, Inc. paired Common Stock with a beneficial of Simon interest in Common Property Group, Stock of SPG Realty Inc. on 9/24/98 Consultants, Inc. - ------------------------------------------------------------------------------------------------------------------------------------ Stock Option Options 12/9/03 Common Stock of 250,956.78 26.08 D (right to buy) vested Simon Property 25% per annum Group, Inc. paired beginning 12/9/94 with a beneficial and all options interest in Common became fully Stock of SPG Realty vested and Consultants, Inc. exercisable on 12/9/97 ====================================================================================================================================
Explanation of Responses: /s/ Hans C. Mautner September 24, 1998 - --------------------------------------------- ----------------------- **Signature of Reporting Person Date ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient. See Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. Page 2 of 2