<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q
[ ] Form N-SAR
For Period Ended: September 30, 1996
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
<PAGE>
Part I - Registrant Information
Full Name of Registrant: Brauvin Income Plus L.P. III
Former Name if Applicable: N/A
Address of Pricipal Executive Office (Street and Number):
150 South Wacker Drive, Chicago, Illinois 60606
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):
[ ] (a) The reasons described in reasonable detail in Part III
of this form could not be eliminated without unreasonable
effort or expense
[X] (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F,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 transaction report on Form 10-Q, or 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.
Part III - Narrative
As a result of the Partnership's recent developments regarding
the proxy solicitation, as was disclosed in the Form 8-K filed on
November 8, 1996, the Partnership is requesting a five day
extension of time so that a complete and accurate presentation of
all information can be presented to the Limited Partners.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard
to this notification
Tom Murphy (312) 443-0922
(Name) (Telephone Number)
(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 preceeding 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
If so: attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be made.
Brauvin Income Plus L.P. III
(Name of Registrant as specified in the charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 14, 1996 By: Brauvin Realty Advisors III, Inc.
Corporate General Partner of
Brauvin Income Plus L.P. III
/s/ Jerome J. Brault
Jerome J. Brault
Chairman of the Board of Directors,
President and Chief Executive Officer
<PAGE>
