Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
OKLAK DENNIS D
   2. Issuer Name and Ticker or Trading Symbol
DUKE REALTY CORP [DRE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CEO and President
(Last)
(First)
(Middle)
600 E. 96TH STREET, SUITE 100		 3. Date of Earliest Transaction (Month/Day/Year)
11/04/2004
(Street)

INDIANAPOLIS,, IN 46240		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/09/2004   G V 39,237 D $ 0 12,813 D  
Common Stock 11/04/2004   M   7,096 A $ 19.4375 19,909 D  
Common Stock 11/04/2004   F   4,121 D $ 34.82 15,788 D  
Common Stock 09/09/2004   G V 39,237 A $ 0 39,237 I By Spouse
Common Stock               4,883 (1) I By 401(k) Plan

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options-Right to Buy $ 19.4375 11/04/2004   M     7,096   (2) 01/29/2007 Common Stock 7,096 (2) 0 D  
Employee Stock Options-Right to Buy $ 24.25               (3) 01/28/2008 Common Stock 14,220   14,220 D  
Employee Stock Options-Right to Buy $ 23.0625               (4) 01/26/2009 Common Stock 19,936   19,936 D  
Employee Stock Options-Right to Buy $ 20               (5) 01/25/2010 Common Stock 28,736   28,736 D  
Employee Stock Options-Right to Buy $ 24.98               (6) 01/31/2011 Common Stock 25,308   25,308 D  
Employee Stock Options-Right to Buy $ 23.35               (7) 01/30/2012 Common Stock 27,074   27,074 D  
Employee Stock Options-Right to Buy $ 25.42               (8) 02/19/2013 Common Stock 34,184   34,184 D  
Employee Stock Options-Right to Buy $ 32.51               (9) 01/28/2014 Common Stock 26,729   26,729 D  
Phantom Stock Units (10)               (10)   (10) Common Stock 27,024   27,024 (10) D  
Phantom Stock Units (11)               (11)   (11) Common Stock 7,253   7,253 (11) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
OKLAK DENNIS D
600 E. 96TH STREET, SUITE 100
INDIANAPOLIS,, IN 46240		   X     CEO and President  

Signatures

 Valerie J. Steffen for Dennis D. Oklak per POA previously filed   11/05/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Between August 5, 2004, and November 4, 2004, the Reporting Person acquired 66 shares of DRE's common stock under the Company's 401(k) plan.
(2) The Stock Options vested at 20% per year and were fully vested on 1/29/02.
(3) The Stock Options vested at 20% per year and were fully vested on 1/28/03.
(4) The Stock Options vested at 20% per year and were fully vested on 1/26/04.
(5) The Stock Options vest at 20% per year and will be fully vested on 1/25/05.
(6) The Stock Options vest at 20% per year and will be fully vested on 1/31/06.
(7) The Stock Options vest at 20% per year and will be fully vested on 1/30/07.
(8) The Stock Options vest at 20% per year and will be fully vested on 2/19/08.
(9) The Stock Options vest at 20% per year and will be fully vested on 1/28/09.
(10) Represents phantom stock units acquired under the Executive Deferred Compensation Plan of Duke Realty Services Limited Partnership. Between August 5, 2004 and November 4, 2004, the Reporting Person acquired 365 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person's termination of employment.
(11) Represents phantom stock units vested under the 2000 Performance Share Plan of Duke Realty Corporation. Between August 5, 2004, and November 4, 2004, the Reporting Person acquired 326 phantom stock units through dividend reinvestment. The units are valued on a one to one basis to the Company's common stock and are to be settled in cash upon the Reporting Person's termination of employment.

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