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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 27, 1996
Brauvin Real Estate Fund 3
(Exact name of registrant as specified in its charter)
Delaware 0-11975 36-3290420
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
organization) Number)
150 South Wacker Drive, Suite 3200, Chicago, Illinois 60606
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including are code (312) 443-0922
Not Applicable
(Former name or former address, if changed since last report)
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Item 2.Acquisition or Disposition of Assets
On September 27, 1996, the Partnership sold the Bear Canyon III Office
Building to an unaffiliated third party for approximately $1,795,000. The
net sales proceeds to the Partnership was approximately $348,700.
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Item 5. Other Information
The proceeds of the sale will be used to pay outstanding obligations of
the Partnership and to establish necessary reserves for the liquidation of
the partnership.
Upon the completion of the sale the Brauvin Real Estate Fund L.P. 3
will be dissolved.
Item 7.Financial Statements and Exhibits
(b)Pro Forma Financial Statements.
The pro forma information for the sale of the Bear Canyon III Office
Building is not applicable for the year ended December 31, 1995,
corresponding to the period of the Partnership's annual financial
statements most recently filed with the Securities and Exchange Commission,
due the Partnership's filing under the liquidation basis method of
accounting.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
BY: Brauvin Realty Partners, Inc.
Corporate General Partner of
Brauvin Real Estate Fund 3
BY: /s/ Jerome J. Brault
Jerome J. Brault
President and
Chief Executive Officer
DATE: September 27, 1996
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