<PAGE>
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) April 3, 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)
<PAGE>
Item 2. Acquisition or Disposition of Assets
On April 3, 1996, the Partnership sold the Bear Canyon I Office
Building to an unaffiliated third party for approximately $625,000. The
net sales proceeds to the Partnership was approximately $171,000.
<PAGE>
Item 5. Other Information
It is anticipated that proceeds of the sale will be used to pay
outstanding obligations of the Partnership.
<PAGE>
Item 7. Financial Statements and Exhibits
(b) Pro Forma Financial Statements.
The pro forma information for the sale of the Bear Canyon I 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.
<PAGE>
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: April 10, 1996
