U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File No. 0-14453
(Check One): [ ] Form 10-K or Form 10-KSB [ ] Form 11-K [ ]
Form 20-F
[X] Form 10-Q or Form 10-QSB [ ] Form N-SAR
For Period Ended: April 1, 2000
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q or Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: Not Applicable
Read attached instruction sheet before preparing form.
Please print or type.
Nothing in this form shall be construed to imply that
the Commission has verified any information contained herein.
If the notification relates to a portion of the filing
checked above, identify the Item(s) to which the notification
relates: Not Applicable
Part I
Registrant Information
Full Name of Registrant: National Real Estate Limited
Partnership Income Properties
Former Name if Applicable: Not Applicable
Address of Principal Executive Office (Street and Number):
1155 Quail Court
City, State and Zip Code: Pewaukee,
Wisconsin 53072-3703
Part II
Rules 12b-25(b) and (c)
If the subject report could
not be filed without unreasonable
effort or expense and the registrant
seeks relief pursuant to Rule
12b-25(b), the following should be
completed. (Check box if appropriate)
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(a) The reason described in reasonable detail
in Part III of this form could not be
eliminated without unreasonable effort or
expense;
(b) The subject annual report, semiannual
report, transition report on Form 10-K,
Form 10-KSB, Form 20-F, Form 11-K or
Form N-SAR, or portion thereof will be
filed on or before the fifteenth calendar
day following the prescribed due date;
or the subject quarterly report or
transition report on Form 10-Q portion
thereof will be filed on or before the
fifth calendar day following the
prescribed due date; and (c) The
accountant's statement or other exhibit
required by Rule 12b-25(c) has been
attached if applicable.
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Part III
Narrative
State below in reasonable detail the reasons why
Form 10-K, 10-KSB, 11-K, 20-F, 10-Q, 10-QSB, N-SAR or
the transition report portion thereof could not be filed
within the prescribed time period. (Attach extra sheets
if needed.)
The registrant could not file its quarterly report
on Form 10-QSB for the quarter ended March 31, 1999 on
the prescribed filing date for the following reasons:
The schedule for the review of the
financial statements was delayed.
Due to a delay relating to the litigation
note, the Partnership does not believe
it can finalize the disclosure in its
Form 10-QSB by the prescribed filing
date.
Part IV
Other Information
(1) Name and telephone number of person to
contact in regard to this notification:
John Vishnevsky, General Partner
262-695-1400
(2) Have all other periodic reports required
under section 13 or 15(d) of the Securities
Exchange Act of 1934 or section 30 of the
Investment Company Act of 1940 during the preceding
12 months or for such shorter period that the
registrant was required to file such report(s) been
filed? If the answer is no, identify report(s).
[x] Yes [ ] No
(3) Is it anticipated that any significant
change in results of operations from the
corresponding period for the last fiscal year will
be reflected by the earnings statements to be
included in the subject report or portion thereof?
[ ] Yes [x] No
National Real Estate Limited Partnership Income Properties has caused
this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated this 15th day of May, 2000.
NATIONAL REAL ESTATE LIMITED PARTNERSHIP INCOME PROPERTIES
BY
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John Vishnevsky, President and
Chief Operating and Executive Officer
National Development and Investment, Inc.
Corporate General Partner
