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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: center">UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  Washington, D.C. 20549</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"></P>
  
  <P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>FORM
  144</B></FONT></P>
  
  <P STYLE="font: 12pt/90% Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: center"><B>NOTICE OF PROPOSED SALE OF SECURITIES<BR>
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933</B></P>
  
  <P STYLE="font: 12pt/90% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B></B></P>
  
  <TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/90% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
  <TD STYLE="width: 0"></TD><TD STYLE="width: 81.9pt"><FONT STYLE="font-size: 7pt; letter-spacing: 0.3pt; line-height: 90%"><B>ATTENTION:</B></FONT></TD><TD><FONT STYLE="font-size: 7pt; letter-spacing: 0.3pt"><I>Transmit
                                           for filing 3 copies of this form concurrently with either placing an order with a broker
                                           to execute sale or executing a sale directly with a market maker.</I></FONT></TD></TR></TABLE>
  
  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt"></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
      <TD COLSPAN="3" STYLE="vertical-align: top; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">1 <I>(a) </I>NAME OF ISSUER <I>(Please type or print)</I></P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Kaanapali Land, LLC</B></P></TD>
      <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><I>(b)</I> IRS IDENT. NO.</P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>01-0731997</B></P></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"><I>(c) </I>S.E.C. FILE NO.</P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>000-50273</B></P></TD>
      <TD COLSPAN="2" STYLE="border: Black 1pt double; font: 10pt Times New Roman, Times, Serif"><P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B><U>SEC
                                           USE ONLY</U></B></P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">DOCUMENT&nbsp;SEQUENCE&nbsp;NO.</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">____________________</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">CUSIP NUMBER</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">____________________</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">WORK LOCATION</P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 7pt">1
  (<I>d</I>) ADDRESS OF ISSUER &#9;STREET &#9;CITY&#9; STATE &#9;ZIP CODE&nbsp;</FONT></P></TD>
      <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt"><I>(e) </I>TELEPHONE NO.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="6" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B></B></FONT></P>
                                                                                  <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>900 North Michigan Avenue&#9;CHICAGO&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IL&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60611&#9; </B></FONT></P></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">AREA&nbsp;CODE</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>312</B></P></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center">NUMBER</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>915-1987</B></P></TD></TR>
  <TR STYLE="vertical-align: top; text-align: center">
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 0 15.6pt; text-indent: -15.6pt">2 <I>(a) </I>NAME OF PERSON FOR
          WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>JMB&nbsp;Realty&nbsp;Corporation</B></P></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 0 12.6pt; text-indent: -12.6pt">&nbsp;</P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 0 12.6pt; text-indent: -12.6pt">&nbsp;</P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 0 12.6pt; text-indent: -12.6pt">&nbsp;</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 12.6pt; text-indent: -12.6pt"><B>&nbsp;</B></P></TD>
      <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 0 10.5pt; text-indent: -10.5pt"><I>(b) </I>RELATIONSHIP TO ISSUER</P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"></P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>Affiliate</B></P></TD>
      <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 7pt"><I>(c) </I>ADDRESS STREET</FONT>&#9;<FONT STYLE="font-size: 7pt">CITY&#9;STATE&#9;ZIP
          CODE</FONT></P>
          <P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0"></P>
          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>900 North Michigan&nbsp;&nbsp;&nbsp;&nbsp;Chicago&nbsp;&nbsp;&nbsp;&nbsp;IL&nbsp;&nbsp;&nbsp;&nbsp;60611</B></P></TD></TR>
  <TR>
      <TD STYLE="width: 45%">&nbsp;</TD>
      <TD STYLE="width: 2%">&nbsp;</TD>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="width: 7%">&nbsp;</TD>
      <TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 15%">&nbsp;</TD>
      <TD STYLE="width: 14%">&nbsp;</TD>
      <TD STYLE="width: 12%">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 10pt/6pt Times New Roman, Times, Serif; margin: 0"></P>
  
  <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: left"><FONT STYLE="font-size: 7pt"><I>INSTRUCTION:
  The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.</I></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 8pt">3 <I>(a)</I></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(b)</I></FONT></TD>
      <TD COLSPAN="2" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>SEC USE ONLY</B></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(c)</I></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(d)</I></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(e)</I></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(f)</I></FONT></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt"><I>(g)</I></FONT></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Title of the</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Class of</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities </B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>To Be Sold</B></P></TD>
      <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Name and Address of Each Broker Through
          Whom         the</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities are to be Offered or Each Market
          Maker</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>who is Acquiring the Securities</B></P></TD>
      <TD COLSPAN="2" STYLE="vertical-align: middle; border-right: Black 1pt solid; border-bottom: Black 1pt solid; background-color: white; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Broker-Dealer</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>File Number</B></P></TD>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number&nbsp;of&nbsp;Shares</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>or Other Units</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>To Be Sold</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(See instr. 3(c))</I></P></TD>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Aggregate </B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Market</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Value</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(See instr. 3(d))</I></P></TD>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number of Shares</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>or Other Units</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Outstanding</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(See instr. 3(e))</I></P></TD>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Approximate</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Sale</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(See instr. 3(f))</I></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center">(MO. DAY YR.)</P></TD>
      <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Name&nbsp;of&nbsp;Each</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exchange</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(See&nbsp;instr.&nbsp;3(g))</I></P></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
      <TD STYLE="vertical-align: top; border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Common Shares</TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">Merrill&nbsp;Lynch<BR>
  P.O. Box 2016<BR> Lakewood,&nbsp;NJ&nbsp;08701<SUP>*</SUP><BR> </P></TD>
      <TD COLSPAN="2" STYLE="vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; background-color: white; padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt">&nbsp;</TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: center">17,920</TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: center">$577,920&nbsp;(based on 10/10/2018 closing price of $32.25 per share)</TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">(1,792,613&nbsp;as
  of&nbsp;8/13/2018 as reported on the Issuer&#8217;s Form 10-Q filed on 8/13/2018)</P></TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: center">10/12/2018</TD>
      <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-bottom: 30pt; padding-left: 5.4pt; text-align: center">OTC</TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt"><B>INSTRUCTIONS:</B></FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 3pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">3.&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;Title
      of the class of securities to be sold</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">1.&nbsp;(a)&nbsp;&nbsp;Name
      of issuer</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;Name
      and address of each broker through whom the securities are intended to be sold</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Issuer&#8217;s
      I.R.S. Identification Number</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;Number
      of shares or other units to be sold (if debt securities, give the aggregate face amount)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Issuer&#8217;s
      S.E.C. file number, if any</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;Aggregate
      market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;Issuer&#8217;s
      address, including zip code</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;Number
      of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as shown by
      the most recent report or statement published by the issuer </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;Issuer&#8217;s&nbsp;telephone&nbsp;number,&nbsp;including
      area&nbsp;code</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;Approximate
      date on which the securities are to be sold</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Name
      of each securities exchange, if any, on which the securities are intended to be sold securities are to be sold</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">2.&nbsp;(a)&nbsp;&nbsp;Name
      of person for whose account the securities are to be sold</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;Name
      of each securities exchange, if any, on which the securities are intended to be sold</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;Such
      person&#8217;s relationship to the issuer (e.g., officer, director, 10% stockholder, or member of immediate family of any
      of the foregoing)</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 27pt; text-indent: -27pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;Such
      person&#8217;s address, including zip code</FONT></TD>
      <TD COLSPAN="7" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
  <TR>
      <TD STYLE="width: 8%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 25%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 11%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 9%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 11%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 15%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
      <TD STYLE="width: 10%">&nbsp;</TD>
      <TD STYLE="width: 9%">&nbsp;</TD>
      <TD STYLE="width: 1%">&nbsp;</TD></TR>
  </TABLE>
  
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 8pt"><B>* </B>c/o Stephen Heider, HDP Group<BR>
  &nbsp;&nbsp;&nbsp;21805 Field Parkway, Suite 220<BR>
  &nbsp;&nbsp;&nbsp;Deer Park, IL</FONT> <BR STYLE="clear: both"> <!-- Field: Page; Sequence: 1 --><DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
      <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
      <!-- Field: /Page -->
  
  <B>TABLE I &#45; SECURITIES
  TO BE SOLD</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.3pt"><I>Furnish
  the following information with respect to the acquisition of the securities to be sold</I></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: 0.3pt"><I>and with
  respect to the payment of all or any part of the purchase price or other consideration therefor:</I></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
      <TD COLSPAN="2" STYLE="vertical-align: bottom; border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Title of </FONT><BR>
  <FONT STYLE="font-size: 8pt">the Class</FONT></TD>
      <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Date you Acquired</FONT></TD>
      <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 8pt">Nature of Acquisition Transaction</FONT></TD>
      <TD COLSPAN="2" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Name of Person from Whom Acquired</FONT><BR>
  <FONT STYLE="font-size: 8pt"><I>(If gift, also give date donor acquired)</I></FONT></TD>
      <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Amount of Securities Acquired</FONT></TD>
      <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Date of Payment</FONT></TD>
      <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 8pt">Nature of Payment</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Common</FONT></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11/9/2017</TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Private&nbsp;Transaction</FONT></TD>
      <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">JMB&nbsp;Realty&nbsp;Corporation
      (&#8220;JMB&#8221;)     received 96,438.78 shares from Pacific Trail Holdings (&#8220;PTH&#8221;), an affiliate of JMB in
      exchange for its interests     in PTH</FONT></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">96,438.78</FONT></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">N/A</FONT></TD>
      <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 11pt">Transfer&nbsp;for&nbsp;no consideration</FONT></TD></TR>
  <TR>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid">&nbsp;</TD>
      <TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify"><BR STYLE="clear: both">
  <BR STYLE="clear: both">
  <FONT STYLE="font-size: 8pt; letter-spacing: 0.3pt"><B>INSTRUCTIONS:&#9;</B>If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.</FONT></TD>
      <TD COLSPAN="4" STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.3in; padding-left: 12.6pt; text-align: justify; text-indent: -12.6pt">&nbsp;</TD>
      <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 0.3in; padding-left: 12.6pt; text-indent: -12.6pt">&nbsp;</TD></TR>
  <TR>
      <TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 8%">&nbsp;</TD>
      <TD STYLE="width: 8%">&nbsp;</TD>
      <TD STYLE="width: 26%">&nbsp;</TD>
      <TD STYLE="width: 19%">&nbsp;</TD>
      <TD STYLE="width: 7%">&nbsp;</TD>
      <TD STYLE="width: 10%">&nbsp;</TD>
      <TD STYLE="width: 8%">&nbsp;</TD>
      <TD STYLE="width: 4%">&nbsp;</TD>
      <TD STYLE="width: 9%">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><FONT STYLE="letter-spacing: 0.3pt"><B>TABLE
  II &#45; SECURITIES SOLD DURING THE PAST 3 MONTHS</B></FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt; text-align: center"><FONT STYLE="letter-spacing: 0.3pt"><I>Furnish
  the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the
  securities are to be sold.</I></FONT></P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; text-align: center">
      <TD STYLE="width: 42%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Name and Address of Seller</P></TD>
      <TD STYLE="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Title of Securities Sold</P></TD>
      <TD STYLE="width: 8%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Sale</P></TD>
      <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 8pt">Amount of</FONT><BR>
  <FONT STYLE="font-size: 8pt">Securities Sold</FONT></TD>
      <TD STYLE="width: 15%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><BR>
  <FONT STYLE="font-size: 8pt">Gross Proceeds</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0">None.</P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
      <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR>
      <TD COLSPAN="2" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>INSTRUCTIONS: </B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">See the definition of &#8220;person&#8221; in
          paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold
          but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons
          whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.</P></TD>
      <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>ATTENTION: </B></P>
          <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: -0.1pt"><I>The person for whose account
          the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material
          adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not
          been publicly disclosed. If each person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1
          under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person
          makes such representation as of the plan adoption or instruction date.</I></FONT></P></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR>
      <TD COLSPAN="2" STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-top: 6pt; padding-right: 5.4pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;October
      12, 2018&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT><BR>
      <FONT STYLE="font-size: 6pt">DATE OF NOTICE</FONT></TD>
      <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 30.75pt"></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ Gary Nickele&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gary Nickele, Authorized Signatory&#9;</B></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: center">(SIGNATURE)</P></TD>
      <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B></B></FONT><FONT STYLE="font-size: 6pt">_______________________________________________________&nbsp;</FONT></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 6pt">DATE
          OF PLAN ADOPTION OR GIVING OF INSTRUCTION,</FONT></P>
          <P STYLE="font: 6pt Times New Roman, Times, Serif; margin: 0; text-align: justify">IF RELYING ON RULE 10B5-1</P></TD>
      <TD COLSPAN="3" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: -21pt; padding-left: 5.4pt; text-align: left"><FONT STYLE="font-size: 8pt; letter-spacing: -0.2pt"><I>The
  notice shall be </I></FONT><I><FONT STYLE="font-size: 9pt; letter-spacing: -0.2pt">signed by the person for whose account the
  securities are to be sold. At least one copy of the notice shall be manually signed. Any copies not manually signed
  shall bear typed or printed signatures.</FONT></I></TD></TR>
  <TR>
      <TD STYLE="width: 50%">&nbsp;</TD>
      <TD STYLE="width: 1%">&nbsp;</TD>
      <TD STYLE="width: 48%">&nbsp;</TD>
      <TD STYLE="width: 1%">&nbsp;</TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 351pt">&nbsp;</P>
  
  <TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
      <TD STYLE="width: 100%; border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><B>ATTENTION:&nbsp;&nbsp;Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)</B></FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 6.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  
  </BODY>
  </HTML>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "kaana144-20181012.htm", "description": "KAANAPALI LAND, LLC / JMB REALTY CORPORATION - FORM 144 - 10-12-2018", "secsgml_size_bytes": 43022}]
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM
  144
  NOTICE OF PROPOSED SALE OF SECURITIES
  PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
  ATTENTION:
  Transmit
                                           for filing 3 copies of this form concurrently with either placing an order with a broker
                                           to execute sale or executing a sale directly with a market maker.
  1
  (a)
  NAME OF ISSUER
  (Please type or print)
  Kaanapali Land, LLC
  (b)
  IRS IDENT. NO.
  01-0731997
  (c)
  S.E.C. FILE NO.
  000-50273
  SEC
                                           USE ONLY
  DOCUMENT SEQUENCE NO.
  ____________________
  CUSIP NUMBER
  ____________________
  WORK LOCATION
  1
  (
  d
  ) ADDRESS OF ISSUER 	STREET 	CITY	 STATE 	ZIP CODE
  (e)
  TELEPHONE NO.
  900 North Michigan Avenue	CHICAGO	        IL	            60611
  AREA CODE
  312
  NUMBER
  915-1987
  2
  (a)
  NAME OF PERSON FOR
          WHOSE ACCOUNT THE SECURITIES ARE TO BE SOLD
  JMB Realty Corporation
  (b)
  RELATIONSHIP TO ISSUER
  Affiliate
  (c)
  ADDRESS STREET
  CITY	STATE	ZIP
          CODE
  900 North Michigan    Chicago    IL    60611
  INSTRUCTION:
  The person filing this notice should contact the issuer to obtain the I.R.S. Identification Number and the S.E.C. File Number.
  3
  (a)
  (b)
  SEC USE ONLY
  (c)
  (d)
  (e)
  (f)
  (g)
  Title of the
  Class of
  Securities
  To Be Sold
  Name and Address of Each Broker Through
          Whom         the
  Securities are to be Offered or Each Market
          Maker
  who is Acquiring the Securities
  Broker-Dealer
  File Number
  Number of Shares
  or Other Units
  To Be Sold
  (See instr. 3(c))
  Aggregate
  Market
  Value
  (See instr. 3(d))
  Number of Shares
  or Other Units
  Outstanding
  (See instr. 3(e))
  Approximate
  Date of Sale
  (See instr. 3(f))
  (MO. DAY YR.)
  Name of Each
  Securities
  Exchange
  (See instr. 3(g))
  Common Shares
  Merrill Lynch
  P.O. Box 2016
  Lakewood, NJ 08701
  *
  17,920
  $577,920 (based on 10/10/2018 closing price of $32.25 per share)
  (1,792,613 as
  of 8/13/2018 as reported on the Issuer's Form 10-Q filed on 8/13/2018)
  10/12/2018
  OTC
  INSTRUCTIONS:
  3. (a)    Title
      of the class of securities to be sold
  1. (a)  Name
      of issuer
  (b)    Name
      and address of each broker through whom the securities are intended to be sold
  (b)  Issuer's
      I.R.S. Identification Number
  (c)    Number
      of shares or other units to be sold (if debt securities, give the aggregate face amount)
  (c)  Issuer's
      S.E.C. file number, if any
  (d)    Aggregate
      market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice
  (d)  Issuer's
      address, including zip code
  (e)    Number
      of shares or other units of the class outstanding, or if debt securities the face amount thereof outstanding, as shown by
      the most recent report or statement published by the issuer
  (e)  Issuer's telephone number, including
      area code
  (f)    Approximate
      date on which the securities are to be sold
  (g)    Name
      of each securities exchange, if any, on which the securities are intended to be sold securities are to be sold
  2. (a)  Name
      of person for whose account the securities are to be sold
  (g)    Name
      of each securities exchange, if any, on which the securities are intended to be sold
  (b)  Such
      person's relationship to the issuer (e.g., officer, director, 10% stockholder, or member of immediate family of any
      of the foregoing)
  (c)  Such
      person's address, including zip code
  *
  c/o Stephen Heider, HDP Group
  21805 Field Parkway, Suite 220
  Deer Park, IL
  TABLE I - SECURITIES
  TO BE SOLD
  Furnish
  the following information with respect to the acquisition of the securities to be sold
  and with
  respect to the payment of all or any part of the purchase price or other consideration therefor:
  Title of
  the Class
  Date you Acquired
  Nature of Acquisition Transaction
  Name of Person from Whom Acquired
  (If gift, also give date donor acquired)
  Amount of Securities Acquired
  Date of Payment
  Nature of Payment
  Common
  11/9/2017
  Private Transaction
  JMB Realty Corporation
      ("JMB")     received 96,438.78 shares from Pacific Trail Holdings ("PTH"), an affiliate of JMB in
      exchange for its interests     in PTH
  96,438.78
  N/A
  Transfer for no consideration
  INSTRUCTIONS:
  If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.
  TABLE
  II - SECURITIES SOLD DURING THE PAST 3 MONTHS
  Furnish
  the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the
  securities are to be sold.
  Name and Address of Seller
  Title of Securities Sold
  Date of Sale
  Amount of
  Securities Sold
  Gross Proceeds
  None.
  INSTRUCTIONS:
  See the definition of "person" in
          paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold
          but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons
          whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
  ATTENTION:
  The person for whose account
          the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material
          adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not
          been publicly disclosed. If each person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1
          under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person
          makes such representation as of the plan adoption or instruction date.
  October
      12, 2018
  DATE OF NOTICE
  /s/ Gary Nickele
  Gary Nickele, Authorized Signatory
  (SIGNATURE)
  _______________________________________________________
  DATE
          OF PLAN ADOPTION OR GIVING OF INSTRUCTION,
  IF RELYING ON RULE 10B5-1
  The
  notice shall be
  signed by the person for whose account the
  securities are to be sold. At least one copy of the notice shall be manually signed. Any copies not manually signed
  shall bear typed or printed signatures.
  ATTENTION:  Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)