SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549
                       __________________
                            FORM 10-K

                FOR ANNUAL AND TRANSITION REPORTS
             PURSUANT TO SECTIONS 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934
(Mark One)

__x__     ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
     SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended:  December 31, 1997
                               OR
_____     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
     THE SECURITIES EXCHANGE ACT OF 1934

                Commission file number 333-05271

            Chase Commercial Mortgage Securities Corp
   (formerly known as "Chemical Commercial Mortgage Securities
                             Corp.")

                  (Exact name of registrant as
                    specified in its charter)

                  NY.                         13-3728743
    (State or Other Jurisdiction of         (IRS Employer
    Incorporation or Organization)          Identification
                                               Number)

             270 Park Avenue                     10017
(Address of principal executive offices)      (Zip Code)
Registrant's telephone number, including area code:  (212) 270-
6000
Securities registered pursuant to Section 12(b) of the Act:  NONE
Securities registered pursuant to Section 12(g) of the Act:  NONE

Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days:
                         Yes   X      No

Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein,
and will not be contained, to the best of registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. __X__
State the aggregate market value of the voting stock held by non-
affiliates of the registrant:
The registrant has no voting stock or class of common stock
outstanding as of the date of this report.
                                
                                
<PAGE>
                        Introductory Note
                                
This Annual Report on Form 10-K is filed in accordance with a
letter to the Office of Chief Counsel, Division of Corporation
Finance of the Securities and Exchange Commission (the
"Division"), dated September 17, 1996, requesting advise from the
Division that it will raise no objection if Chase Commercial
Mortgage Securities Corp. (the "Registrant") files reports
pursuant to Section 15(d), 13 and 16 of the Securities Exchange
Act of 1934, as amended (the "Exchange Act"), in the manner
described therein, submitted to the Office of Chief Counsel on
behalf of the Registrant.  Accordingly, responses to certain
Items have been omitted from or modified in this Annual Report on
Form 10-K.

Each series of the Registrant's Commercial Mortgage Pass-Through
Certificates (the "Certificates"), represent the beneficial
ownership interest in a trust fund (a "Trust Fund") consisting,
among other things, of a segregated pool of fixed-rate,
conventional or commercial mortgage loans (the "Mortgage Loans").

                             Part I
                                
Item 1.   Business
       
       Omitted.
       
Item 2.   Properties
       
       Information regarding the mortgaged properties will be
       included in the Annual Statements of Compliance filed
       under Item 14 hereof, as described in Item 14 hereof.
       
Item 3.   Legal Proceedings
       
       The registrant knows of no material pending proceedings
       with respect to the Trust, the Trustee or the Bank.
       
Item 4.   Submission of Matters to a Vote of Security Holders
       
       No matter was submitted to a vote of security holders
       during the fiscal year covered by this report.
       


                                Part II
                                
Item 5.   Market for Registrant's Common Equity and Related
       Stockholders Matters
       
       The registrant has no voting stock or class of common
       stock outstanding as of the date of this report.  The
       beneficial interest in the Trust Funds is represented by
       certificates of beneficial interest (the "Certificates").
       To the knowledge of the registrant, the Certificates are
       traded in the over-the-counter market to a limited extent.
       
       The records of the Registrant indicate that as of
       December 31, 1997, there were three Certificateholders of
       Record.
       
Item 6.   Selected Financial Data
       
       Omitted.
       
Item 7.   Management's Discussion and Analysis of Financial
       Condition and Results of Operations
       
      The Chase Manhattan Corporation (the "Corporation") has
      been actively working on the year 2000 computer problem
      for the past several years and has made significant
      progress in repairing its systems.  The Corporation's year
      2000 remediation program includes repair of the systems of
      the Servicer for the Registrant and the Trust Funds.  To
      date, the Corporation has completed the inventory,
      assessment and strategy phases of its year 2000 program.
      During these phases, the Corporation identified hardware
      and software that required modification, developed
      implementation plans, prioritized tasks and established
      implementation time frames.  The process undertaken by the
      Corporation has required working with vendors, third-party
      service providers and customers, as well as with the
      Corporation's internal users of systems applications.
      Although many applications, interfaces and locations are
      already able to handle post-year 2000 data processing,
      much work remains to be completed.  During 1998, year 2000
      activities are being given highest priority, and the
      Corporation is targeting to have all major systems
      repaired, including those systems that are used by the
      Corporation in connection with the Trust, and the majority
      of testing of such systems, including those used in
      connection with the Trust, completed by year end.
      Notwithstanding the substantial expense involved in such
      efforts by the Corporation, it is not expected that the
      Registrant or the Trust Funds  will be required to bear
      any expense in connection with the Corporation's year 2000
      remediation program.


       Item 7A.     Quantitative and Qualitative Disclosures
About Market Risk

        Not applicable.

Item 8.   Financial Statements and Supplementary Data
       


Item 9.   Changes in and Disagreements with Accountants on
       Accounting and Financial Disclosure
       
       None.
       
                                Part III
                                
Item 10.  Directors and Executive Officers of the Registrant
       
       Omitted.
       
Item 11.  Executive Compensation
       
       Omitted
       
Item 12.  Security Ownership of Certain Beneficial Owners and
       Management
       
       Omitted
       
Item 13.  Certain Relationships and Related Transactions
       
       None.
       
                                Part IV
                                
Item 14.  Exhibits, Financial Statement Schedules, and Reports of
       Form 8-K
       
          (a)  Exhibits.  No exhibits are filed as part of this
          Annual Report on Form 10-K.  The registrant's servicer
          is required to deliver a statement of compliance, and
          its independent public accountants are required to
          deliver a servicing statement, no later than April 30,
          1998.  Such statements will be filed as soon as
          available.
          
      (b)  Reports on Form 8-K.
      
       No reports were filed on Form 8-K in the fourth quarter
       of 1997.
       
                            SIGNATURE
                                
          Pursuant to the requirements of Section 13 or 15(d) 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.

                      Chase Commercial Mortgage Securities Corp.
                 
                      by The Chase Manhattan Bank
                           as Servicer
                 
                 
                      By:  Janice M. Smith
                           Name: Janice M. Smith
                           Title: Vice President
                 
Date:  March 31, 1998