Re-build and shrink will not run at a time as shrink will re-build and identify un-used spaces.
to shrink it do the following thing.
First you need to identify OLD records and take its backup and delete them from database, and then A shrink operation is most effective after an operation that creates lots of unused space, such as a truncate table or a drop table operation.
Delete LDF file if it is heavy, it will automatically re-create it again, use 'DBCC SHRINKDATABASE ' command or login to SSMS (MS SQL Server Management Studio.) and Right-Click the DB -> TASKS -> SHRINK -> FILES -> select the LOG file
I think take a Archive backup and Delete some OLD record will do the trick, cause shrink will only make a certain space for you not all.
Editor, DotNetSpider MVM
Microsoft MVP 2014 [ASP.NET/IIS]