WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001018592
<NAME> ALLIANCE INSTITUTIONAL FUNDS, INC.
<SERIES>
<NUMBER> 032
<NAME> REAL ESTATE INVESTMENT INSTITUTIONAL FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 1,497,448
<INVESTMENTS-AT-VALUE> 1,632,169
<RECEIVABLES> 92,586
<ASSETS-OTHER> 116,359
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,841,114
<PAYABLE-FOR-SECURITIES> 18,759
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 237,539
<TOTAL-LIABILITIES> 256,298
<SENIOR-EQUITY> 212
<PAID-IN-CAPITAL-COMMON> 6,279,202
<SHARES-COMMON-STOCK> 58
<SHARES-COMMON-PRIOR> 56
<ACCUMULATED-NII-CURRENT> (88,467)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,740,852)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,721
<NET-ASSETS> 1,584,816
<DIVIDEND-INCOME> 116,435
<INTEREST-INCOME> 8,875
<OTHER-INCOME> 0
<EXPENSES-NET> (22,160)
<NET-INVESTMENT-INCOME> 103,150
<REALIZED-GAINS-CURRENT> 274,466
<APPREC-INCREASE-CURRENT> 177,644
<NET-CHANGE-FROM-OPS> 555,260
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> 437,611
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (5,010,880)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 20,000
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 289,000
<AVERAGE-NET-ASSETS> 418
<PER-SHARE-NAV-BEGIN> 6.79
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> 1.24
<PER-SHARE-DIVIDEND> (0.44)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.52
<EXPENSE-RATIO> 1.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
