SCHEDULE 13G
Under the Securities Exchange Act of 1934
Name of Issuer - Grubb & Ellis Realty Income Trust
Title of Class of Securities - Beneficial Interest in a Liquid Trust
CUSIP Number - 400097101000
Item 1. (a): Grubb & Ellis Realty Income Trust
Item 1. (b): One Montgomery Street
Telesis Tower, Suite 3200
San Francisco, CA 94104
Item 2. (a): Heitman Real Estate Fund Fund
(formerly known as PRA Real Estate Securities Fund)
Item 2. (b): 180 North LaSalle Street, Suite 3600
Chicago, IL 60601
Item 2. (c): United States
Item 2. (d): Beneficial Interest in a Liquidating Trust (Title of Class
------------------------------------------ of Securities)
Item 2. (e): 400097101000 (CUSIP No.)
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Item 3.
a) _____ Broker or dealer registered under Section 15 of the Act
b) _____ Bank as defined under Section 3(a) (6) of the Act
c) _____ Insurance Company as defined under Section 3 (a)(19) of the Act
d) __X__ Investment Company registered under Section 8 of the Investment
Company Act of 1940
e) _____ Investment Adviser registered under Section 203 of the Investment
Advisers Act of 1940
f) _____ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see Section 240.13d-1(b)(ii)(F)
g) _____ Parent Holding Company, in accordance with Section
240.13d-1(b)(ii)(G)
h) _____ Group, in accordance with Section 240.13d-1(b)(ii)(H)
Item 4. (a) 189,700 (Amount beneficially owned)
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Item 4. (b): 2.14% (Percent of class)
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Item 4. (c): Number of shares to which such person has:
(i) sole power to vote or to direct the vote ___0_
(ii) shared power to vote or to direct the vote ___0_
(iii) sole power to dispose or to direct the disposition of ___0_
(iv) shared power to dispose or to direct the disposition of ___0_
Item 5. Yes
Item 6. Not applicable
Item 7. Not applicable
Item 8. Not applicable
Item 9. Not applicable
Item 10. CERTIFICATION (See Below)
After reasonable 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.
February 12, 1996
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Date
/s/ Dean A. Sotter
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Signature
Dean A. Sotter/ President
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Name/Title
13g1 #234
