FOX STRATEGIC HOUSING INCOME PARTNERS
SC 14D1/A, 1997-10-01
REAL ESTATE
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                      ------------------------------------

                                SCHEDULE 14D-1/A
              TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                               (AMENDMENT NO. 4)

                      ------------------------------------

                     FOX STRATEGIC HOUSING INCOME PARTNERS
                           (Name of Subject Company)

                             IPLP ACQUISITION I LLC
                           INSIGNIA PROPERTIES, L.P.
                           INSIGNIA PROPERTIES TRUST
                         INSIGNIA FINANCIAL GROUP, INC.
                                   (Bidders)

                     UNITS OF LIMITED PARTNERSHIP INTEREST
                         (Title of Class of Securities)

                                      NONE
                     (Cusip Number of Class of Securities)

                      ------------------------------------

                                JEFFREY P. COHEN
                             SENIOR VICE PRESIDENT
                         INSIGNIA FINANCIAL GROUP, INC.
                                375 PARK AVENUE
                                   SUITE 3401
                            NEW YORK, NEW YORK 10152
                                 (212) 750-6070
            (Name, Address and Telephone Number of Person Authorized
          to Receive Notices and Communications on Behalf of Bidders)

                                    COPY TO:

                              JOHN A. HEALY, ESQ.
                                 ROGERS & WELLS
                                200 PARK AVENUE
                            NEW YORK, NEW YORK 10166
                                 (212) 878-8000

                      ------------------------------------



                               Page 1 of 5 Pages


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         This Amendment No. 4 amends and supplements the Tender Offer Statement
on Schedule 14D- 1 originally filed with the Commission on August 28, 1997, as
amended by Amendment No. 1 filed with the Commission on September 10, 1997,
Amendment No. 2 filed with Commission on September 15, 1997 and Amendment No. 3
filed with the Commission on September 26, 1997 (the "Statement"), by IPLP
Acquisition I LLC (the "Purchaser"), Insignia Properties, L.P, Insignia
Properties Trust and Insignia Financial Group, Inc., relating to the tender
offer of the Purchaser to purchase up to 11,750 of the outstanding units of
limited partnership interest (the "Units") of Fox Strategic Housing Income
Partners, a California limited partnership (the "Partnership"), at $260.00 per
Unit, net to the seller in cash, upon the terms and subject to the conditions
set forth in the Offer to Purchase dated August 28, 1997 and the related
Assignment of Partnership Interest (which, together with any supplements or
amendments, collectively constitute the "Offer"). Capitalized terms used but
not defined herein have the meanings ascribed to them in the Statement.

ITEM 10.  ADDITIONAL INFORMATION.

         (f) The Offer has been extended to 5:00 p.m., New York time, on
Thursday, October 2, 1997. On September 30, 1997, the Purchaser issued a press
release announcing such extension and reporting that approximately 4,011 Units
had been tendered pursuant to the Offer to date. A copy of the press release
has been filed as Exhibit (a)(5) to this Amendment No. 4 and is incorporated
herein by reference in its entirety.

ITEM 11.  MATERIAL TO BE FILED AS EXHIBITS.

  (a)(5) Text of press release issued by the Purchaser on September 30, 1997.




                                       2

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                                   SIGNATURE


         After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


Dated:  October 1, 1997

                                       IPLP ACQUISITION I LLC


                                       By: /s/ JEFFREY P. COHEN
                                           -------------------------------
                                           Jeffrey P. Cohen
                                           Manager


                                       INSIGNIA PROPERTIES, L.P.

                                       By: Insignia Properties Trust,
                                           its General Partner


                                       By: /s/ JEFFREY P. COHEN
                                           -------------------------------
                                           Jeffrey P. Cohen
                                           Senior Vice President



                                       INSIGNIA PROPERTIES TRUST


                                       By: /s/ JEFFREY P. COHEN
                                           -------------------------------
                                           Jeffrey P. Cohen
                                           Senior Vice President



                                       INSIGNIA FINANCIAL GROUP, INC.


                                       By: /s/ FRANK M. GARRISON
                                           -------------------------------
                                           Frank M. Garrison
                                           Executive Managing Director




                                       3

<PAGE>

                                 EXHIBIT INDEX
                                 -------------

 EXHIBIT NO.                            DESCRIPTION
 -----------                            -----------

  (a)(5)                Text of press release issued by the Purchaser on
                        September 30, 1997.



                                       4



<PAGE>

                                                                 EXHIBIT (A)(5)


IPLP ACQUISITION I LLC
One Insignia Financial Plaza
Greenville, SC 29602


FOR IMMEDIATE RELEASE




              INSIGNIA AFFILIATE EXTENDS TENDER OFFERS FOR LIMITED
               PARTNERSHIP INTERESTS IN SIX LIMITED PARTNERSHIPS

         GREENVILLE, SOUTH CAROLINA, September 30, 1997--IPLP Acquisition I LLC
(the "Purchaser") today announced that it has extended the expiration date of
its outstanding tender offers for limited partnership interests in the
following partnerships: Century Properties Fund XVII, Century Properties Fund
XIX, Century Properties Growth Fund XXII, Consolidated Capital Properties IV,
Fox Strategic Housing Income Partners and National Property Investors 4. The
expiration date for each tender offer has been extended to 5:00 p.m., New York
time, on Thursday, October 2, 1997. The offers were previously scheduled to
expire at 5:00 p.m. on Tuesday, September 30, 1997.

         The Purchaser reported that as of the close of business on September
30, 1997, approximately 4,042.5 interests had been tendered pursuant to the
Century XVII offer, approximately 5,567 interests had been tendered pursuant to
the Century XIX offer, approximately 6,214 interests had been tendered pursuant
to the Century XXII offer, approximately 31,224.5 interests had been tendered
pursuant to the ConCap IV offer, approximately 4,011 interests had been
tendered pursuant to the Fox offer, and approximately 4,284 interests had been
tendered pursuant to the NPI 4 offer.

         The Purchaser is a wholly-owned subsidiary of Insignia Properties
Trust, the newly-formed multi- family apartment REIT controlled by Insignia
Financial Group, Inc. (NYSE: IFS). For further information, please contact
Beacon Hill Partners at (800) 854-9486, which is acting as the Information
Agent for the offers.


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