SECURITY CAPITAL U S REAL ESTATE SHARES INC
NSAR-A, 1998-08-28
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SIGNATURE   ED SPICKLER                                  
TITLE       MANAGER FUND ADMIN  
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL US REAL ESTATE SHARES-R CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                      107,507,360
<INVESTMENTS-AT-VALUE>                     110,441,265
<RECEIVABLES>                                3,400,842
<ASSETS-OTHER>                                 117,097
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             113,959,204
<PAYABLE-FOR-SECURITIES>                       600,621
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   107,581,793
<SHARES-COMMON-STOCK>                          267,982
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<ACCUMULATED-NII-CURRENT>                            0
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<NET-ASSETS>                               112,143,594
<DIVIDEND-INCOME>                            2,072,777
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<OTHER-INCOME>                                       0
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<APPREC-INCREASE-CURRENT>                 (10,155,516)
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<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                        17,183
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL US REAL ESTATE SHARES-I CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                      107,507,360
<INVESTMENTS-AT-VALUE>                     110,441,265
<RECEIVABLES>                                3,400,842
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL EUROPEAN REAL ESTATE SHARES
<SERIES>
   <NUMBER> 002
   <NAME> SECURITY CAPITAL REALESTATE MUTUAL FUNDS INCORPORATED
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL ASIA\PACIFIC REAL ESTATE SHARES
<SERIES>
   <NUMBER> 003
   <NAME> SECURITY CAPITAL REAL ESTATE MUTUAL FUNDS INCORPORATED
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL REAL ESTATE ARBITRAGE SHARES
<SERIES>
   <NUMBER> 004
   <NAME> SECURITY CAPITAL REAL ESTATE MUTUAL FUNDS INCORPORATED
       
<S>                             <C>
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</TABLE>


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