UPDATE 1-Jones Lang LaSalle posts 1st quarter loss

* Posts first-quarter loss of $1.78 per share

* Revenue falls 12 pct, off 1 pct in local currency

* Shares unchanged in extended trading

NEW YORK, April 28 (Reuters) - Jones Lang LaSalle Inc (JLL.N), one of the world's largest real estate service companies, swung to a first-quarter net loss from a year-earlier profit, reflecting the slump in real estate sales and values.

The company posted on Tuesday a net loss of $61.5 million, or $1.78 per share, versus a profit of $2.8 million, or 9 cents per share, in the year-ago quarter.

Excluding restructuring and noncash charges, the Chicago-based company said it would have posted a loss of $16 million, or 47 cents per share, still much greater than the loss of 7 cents per share analysts had on average expected, according to Reuters Estimates.

The company said it plans to continue to cut costs to save $100 million a year.

First-quarter revenue was $494 million, a 12 percent decrease in U.S. dollar terms, and down 1 percent in local currencies.

The global commercial real estate market has been pounded by frozen credit markets and weakening economies.