SECURITY CAPITAL U S REAL ESTATE SHARES INC
NSAR-A, 1999-08-31
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<PAGE>      PAGE  1
000 A000000 06/30/99
000 C000000 0001031659
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 SECURITY CAPITAL REAL ESTATE MUTUAL FUNDS INC
001 B000000 811-8033
001 C000000 3123455800
002 A000000 11 SOUTH LASALLE STREET 2ND FLOOR
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60603
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 SECURITY CAPITAL U.S. REAL ESTATE SHARES
007 C030100 N
007 C010200  2
007 C020200 SECURITY CAPITAL EUROPEAN REAL ESTATE SHARES
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GP
010 B00AA01 801-83815
010 C01AA01 CHICAGO
010 C02AA01 IL
010 C03AA01 60603
010 A00AA02 STATE STREET BANK & TRUST COMPANY
010 B00AA02 85-05003
010 C01AA02 BOSTON
010 C02AA02 MA
010 C03AA02 02105
011 A00AA01 SECURITY CAPITAL MARKETS GROUP INCORPORATED
011 B00AA01 8-44476
011 C01AA01 SANTE FE
011 C02AA01 NM
011 C03AA01 87501
<PAGE>      PAGE  2
012 A00AA01 STATE STREET BANK & TRUST COMPANY (BFDS)
012 B00AA01 85-05003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02101
013 A00AA01 ARTHUR ANDERSON
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60603
014 A00AA01 SECURITY CAPITAL MARKETS GROUP INCORPORATED
014 B00AA01 8-44476
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 LEHMAN BROTHERS
020 C000001     57
020 A000002 GREEN STREET ADVISORS, INC.
020 C000002     43
020 A000003 DONALDSON LUFKIN JEN / PERSHING
020 C000003     18
020 A000004 SBC WARBUNRG DILLON READ
020 C000004     14
020 A000005 GOLDMAN SACHS
020 C000005      9
020 A000006 PAINE WEBBER INC
020 C000006      7
020 A000007 JEFFERIES & CO
020 C000007      7
020 A000008 AB WATLEY
020 C000008      6
020 A000009 BT ALEX BROWN
020 C000009      5
020 A000010 ALFRED BORG
020 C000010      4
021  000000      186
022 A000001 STATE STREET BANK & TRUST
022 C000001    391438
022 D000001         0
022 A000002 LEHMAN BROTHERS
022 C000002      7759
022 D000002     18738
022 A000003 SCHROEDER MUNCH MEYER HAMBURG
022 C000003      8801
022 D000003         0
022 A000004 GREEN STREET ADVISORS
022 C000004      3840
022 D000004     13927
022 A000005 DONALDSON LUFKIN
022 C000005       843
022 D000005      5887
022 A000006 SBC WARBURG DILLON READ
<PAGE>      PAGE  3
022 C000006      4028
022 D000006       469
022 A000007 GOLDMAN SACHS
022 C000007         0
022 D000007      4435
022 A000008 AB WATLEY INC.
022 C000008         0
022 D000008      3914
022 A000009 JEFFRIES INC.
022 C000009      1272
022 D000009      1730
022 A000010 BT ALEX BROWN
022 C000010      2608
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023 D000000     559372
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039  00AA00 N
040  00AA00 Y
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<PAGE>      PAGE  4
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
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077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
<PAGE>      PAGE  5
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 C00AA00      600
081 A00AA00 N
081 B00AA00   0
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
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084 A00AA00 N
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085 B00AA00 N
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086 E020000      0
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086 F020000      0
008 A000101 SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GP
008 B000101 A
008 C000101 801-53815
008 D010101 CHICAGO
008 D020101 IL
008 D030101 60603
015 A000101 STATE STREET BANK & TRUST COMPANY
015 B000101 C
015 C010101 NORTH QUINCY
015 C020101 MA
015 C030101 02171
015 E010101 X
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<PAGE>      PAGE  6
028 D010100       915
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<PAGE>      PAGE  7
048 K010100        0
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050  000100 N
051  000100 N
052  000100 N
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053 C000100 N
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055 B000100 N
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057  000100 N
058 A000100 N
059  000100 Y
060 A000100 N
060 B000100 N
061  000100     2500
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
<PAGE>      PAGE  8
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
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<PAGE>      PAGE  9
073 A010100   0.2400
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074 C000100     2000
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075 A000100        0
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076  000100     0.00
008 A000201 SECURITY CAPITAL GLOBAL CAPITAL MANAGEMENT GP
008 B000201 A
008 C000201 801-53815
008 D010201 CHICAGO
008 D020201 IL
008 D030201 60603
008 A000202 SECURITY CAPITAL GLOBAL CAPITAL MGT GP-EUROPE
008 B000202 S
008 C000202 801-55591
008 D010202 BRUSSELS
008 D050202 BELGIUM
008 D060202 1200
015 A000201 STATE STREET BANK & TRUST COMPANY
015 B000201 C
<PAGE>      PAGE  10
015 C010201 NORTH QUINCY
015 C020201 MA
015 C030201 02171
015 E010201 X
028 A010200         0
028 A020200         0
028 A030200         0
028 A040200         0
028 B010200      1000
028 B020200         0
028 B030200         0
028 B040200         0
028 C010200      4000
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048  000200  0.850
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<PAGE>      PAGE  11
048 C010200        0
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048 F010200        0
048 F020200 0.000
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048 H010200        0
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048 I010200        0
048 I020200 0.000
048 J010200        0
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049  000200 N
050  000200 N
051  000200 N
052  000200 N
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053 C000200 N
055 A000200 N
055 B000200 N
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057  000200 N
058 A000200 N
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061  000200     2500
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 Y
067  000200 N
068 A000200 N
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069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
<PAGE>      PAGE  12
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200      6883
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071 C000200      7601
071 D000200    2
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<PAGE>      PAGE  13
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074 U010200     1103
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074 V010200    10.98
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074 W000200   0.0000
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075 A000200        0
<PAGE>      PAGE  14
075 B000200     8971
076  000200     0.00
SIGNATURE   ED SPICKLER
TITLE       MGR. OF FUND ADMNIN.


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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL REAL ESTATE MUTUAL FUNDS INC.
<SERIES>
   <NUMBER> 001
   <NAME> SECURITY CAPITAL U.S. REAL ESTATE SHARES

<S>                             <C>                     <C>
<PERIOD-TYPE>                   6-MOS                   6-MOS
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<PERIOD-END>                               JUN-30-1999             JUN-30-1999
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<NET-ASSETS>                                  64251346                64251346
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<PER-SHARE-NAV-BEGIN>                             9.82                    9.82
<PER-SHARE-NII>                                   0.22                    0.21
<PER-SHARE-GAIN-APPREC>                           0.79                    0.79
<PER-SHARE-DIVIDEND>                            (0.24)                  (0.23)
<PER-SHARE-DISTRIBUTIONS>                         0.00                    0.00
<RETURNS-OF-CAPITAL>                              0.00                    0.00
<PER-SHARE-NAV-END>                              10.59                   10.59
<EXPENSE-RATIO>                                   1.20                    1.35
[AVG-DEBT-OUTSTANDING]                               0                       0
[AVG-DEBT-PER-SHARE]                                 0                       0


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031659
<NAME> SECURITY CAPITAL REAL ESTATE MUTUAL FUNDS INC.
<SERIES>
   <NUMBER> 002
   <NAME> SECURITY CAPITAL EUROPEAN REAL ESTATE SHARES

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
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<OTHER-ITEMS-LIABILITIES>                        60018
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<ACCUMULATED-NII-CURRENT>                       (4791)
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (142489)
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<PER-SHARE-NII>                                   0.13
<PER-SHARE-GAIN-APPREC>                           0.70
<PER-SHARE-DIVIDEND>                            (0.13)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.98
<EXPENSE-RATIO>                                   1.45
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0


</TABLE>


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