SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C. 20549


                           FORM 10-K


         Annual Report Pursuant to Section 13 or 15(d)
            of the Securities Exchange Act of 1934


For the fiscal year 
ended December 31, 1995      Commission file no. 000-19496     



              JMB INCOME PROPERTIES, LTD. - XIII
    ------------------------------------------------------
    (Exact name of registrant as specified in its charter)



         Illinois                 36-3426137                   
(State of organization)(I.R.S. Employer Identification No.)     


900 N. Michigan Ave., Chicago, Illinois  60611                 
(Address of principal executive office)(Zip Code)               


Registrant's telephone number, including area code 312-915-1987


Securities registered pursuant to Section 12(b) of the Act:

                                 Name of each exchange on      
Title of each class                which registered            
-------------------        -------------------------------     

       None                              None                  


Securities registered pursuant to Section 12(g) of the Act:

                 LIMITED PARTNERSHIP INTERESTS
                       (Title of class)

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.  Not applicable.

Documents incorporated by reference: None


                       TABLE OF CONTENTS



                                                  Page
                                                  ----
PART I

Item 1.    Business. . . . . . . . . . . . . . . .   1

Item 2.    Properties. . . . . . . . . . . . . . .   5

Item 3.    Legal Proceedings . . . . . . . . . . .   8

Item 4.    Submission of Matters to a 
           Vote of Security Holders. . . . . . . .   8

PART II

Item 5.    Market for the Partnership's 
           Limited Partnership Interests and 
           Related Security Holder Matters . . . .   8

Item 6.    Selected Financial Data . . . . . . . .   9

Item 7.    Management's Discussion and 
           Analysis of Financial Condition and 
           Results of Operations . . . . . . . . .  15

Item 8.    Financial Statements and 
           Supplementary Data. . . . . . . . . . .  21

Item 9.    Changes in and Disagreements 
           with Accountants on Accounting and 
           Financial Disclosure. . . . . . . . . .  48


PART III

Item 10.   Directors and Executive Officers 
           of the Partnership. . . . . . . . . . .  48

Item 11.   Executive Compensation. . . . . . . . .  51

Item 12.   Security Ownership of Certain 
           Beneficial Owners and Management. . . .  52

Item 13.   Certain Relationships and 
           Related Transactions. . . . . . . . . .  53


PART IV

Item 14.   Exhibits, Financial Statement Schedules, 
           and Reports on Form 8-K . . . . . . . .  53


SIGNATURES . . . . . . . . . . . . . . . . . . . .  55












                               i


                            PART I


Item 1.  Business

     All references to "Notes" are to Notes to Consolidated Financial
Statements contained in this report.

     The registrant, JMB Income Properties, Ltd. - XIII (the
"Partnership"), is a limited partnership formed in 1986 and currently
governed by the Revised Uniform Limited Partnership Act of the State of
Illinois to invest in income-producing properties, primarily existing
commercial real properties.  On August 20, 1986, the Partnership commenced
an offering to the public of $100,000,000 (subject to increase by up to
$250,000,000) in Limited Partnership Interests (the "Interests") pursuant
to a Registration Statement on Form S-11 under the Securities Act of 1933
(Registration No. 33-4107).  A total of 126,409 Interests (at an offering
price of $1,000 per Interest, before discounts) were sold to the public and
were issued to investors during 1987.  The offering closed on April 14,
1987.  No investor has made any additional capital contribution after such
date.  The investors in the Partnership share in their portion of the
benefits of ownership of the Partnership's real property investments
according to the number of Interests held.

     The Partnership is engaged solely in the business of the acquisition,
operation, and sale and disposition of equity real estate investments. 
Such equity investments are held by fee title and/or through joint venture
partnership interests.  The Partnership's real property investments are
located throughout the nation, and it has no real estate investments
located outside the United States.  A presentation of information about
industry segments, geographic regions, raw materials or seasonality is not
applicable and would not be material to an understanding of the
Partnership's business taken as a whole.   Pursuant to the Partnership
Agreement, the Partnership is required to terminate no later than October
31, 2036.  The Partnership is self-liquidating in nature.  At sale of a
particular property, the net proceeds, if any, are generally distributed or
reinvested in existing properties rather than invested in acquiring
additional properties.  As discussed further in Item 7, the marketplaces in
which the portfolio operates and real estate markets in general are in a
recovery mode.  The Partnership currently expects to conduct an orderly
liquidation of its remaining investment portfolio as quickly as practicable
and to wind up its affairs no later than December 31, 1999, barring any
unforeseen economic developments.  (Reference is also made to Note 1.)

     The Partnership has made the real property investments set forth in
the following table:



<TABLE>
<CAPTION>

                                              SALE OR DISPOSITION 
                                                DATE OR IF OWNED
                                              AT DECEMBER 31, 1995,
NAME, TYPE OF PROPERTY                DATE OF   ORIGINAL INVESTED
    AND LOCATION (e)        SIZE     PURCHASECAPITAL PERCENTAGE (a)     TYPE OF OWNERSHIP
----------------------   ----------  ------------------------------     ---------------------
<S>                     <C>         <C>      <C>                        <C>
1. Mid Rivers Mall
    St. Peters 
    (St. Louis), 
    Missouri . . . .      323,100    12/12/86        1/30/92            Fee ownership of land and
                           sq.ft.                                       improvements (through
                           g.l.a.                                       joint venture partnerships)
2. First Financial Plaza 
    Office Building
    Encino 
    (Los Angeles), 
    California . . .      216,000     5/20/87          8%               Fee ownership of land and
                           sq.ft.                                       improvements (through 
                           n.r.a.                                       joint venture partnerships)
                                                                        (c)
3. Miami International 
    Mall
    Miami, Florida .      967,300     1/1/88           11%              Fee ownership of land and
                           sq.ft.                                       improvements (through
                           g.l.a.                                       joint venture partnerships)
                                                                        (c)
4. Rivertree Court 
    Shopping Center
    Vernon Hills 
    (Chicago), 
    Illinois . . . .      297,000    10/20/88          23%              Fee ownership of land and
                           sq.ft.                                       improvements (b)(d)
                           g.l.a.
5. Fountain Valley 
    Industrial Park 
    Industrial Buildings
    Fountain Valley 
    (Los Angeles), 
    California . . .      393,100     11/1/88          16%              Fee ownership of land and
                           sq.ft.                                       improvements (b)(d)
                            b.a.


                                              SALE OR DISPOSITION 
                                                DATE OR IF OWNED
                                              AT DECEMBER 31, 1995,
NAME, TYPE OF PROPERTY                DATE OF   ORIGINAL INVESTED
    AND LOCATION (e)        SIZE     PURCHASECAPITAL PERCENTAGE (a)     TYPE OF OWNERSHIP
----------------------   ----------  ------------------------------     ---------------------

6. Cerritos Industrial 
    Park Industrial 
    Buildings
    Cerritos 
    (Los Angeles), 
    California . . .      197,100     11/1/88          7%               Fee ownership of land and
                           sq.ft.                                       improvements (b)
                            b.a.
7. Adams/Wabash 
    Self Park
    Chicago, Illinois  671 spaces and 10/1/90          25%              Fee ownership of land and
                           28,800                                       improvements (through
                           sq.ft.                                       joint venture partnership)
                           n.r.a.                                       (c)



<FN>
-----------------------

     (a) The computation of this percentage for properties held at
December 31, 1995 does not include amounts invested from sources other than
the original net proceeds of the public offering as described above and in
Item 7.

     (b) Reference is made to Note 4 and to Schedule III filed with this
annual report for the current outstanding principal balances and a
description of the long-term mortgage indebtedness secured by the
Partnership's real property investments.

     (c) Reference is made to Note 3 filed with this annual report for a
description of the joint venture partnerships through which the Partnership
made this real property investment.

     (d) Reference is made to Item 6 - Selected Financial Data for
additional operating and lease expiration data concerning this investment
property.

     (e) Reference is made to Item 8 - Schedule III filed with the
annual report for further information concerning real estate taxes and
depreciation.

</TABLE>


     The Partnership's real property investments are subject to competition
from similar types of properties (including, in certain areas, properties
owned or advised by affiliates of the General Partners) in the vicinities
in which they are located.  Such competition is generally for the retention
of existing tenants.  Additionally, the Partnership is in competition for
new tenants in markets where significant vacancies are present.  Reference
is made to Item 7 below for a discussion of competitive conditions and
future renovation and capital improvement plans of the Partnership and
certain of its significant investment properties.  Approximate occupancy
levels for the properties are set forth in Item 2 below to which reference
is hereby made.  The Partnership maintains the suitability and
competitiveness of its properties in its markets primarily on the basis of
effective rents, tenant allowances and service provided to tenants.

     In the opinion of the Managing General Partner of the Partnership, all
of the investment properties held at December 31, 1995 are adequately
insured.  Although there is earthquake insurance coverage for a portion of
the value of the Partnership's investment properties, the Managing General
Partner does not believe that such coverage for the entire replacement cost
of the investment properties is available on economic terms.

     Reference is made to Note 6 for a schedule of minimum lease payments
to be received in each of the next five years, and in the aggregate
thereafter, under leases in effect at the Partnership's consolidated
properties as of December 31, 1995.

     The Partnership has no employees other than personnel performing on-
site duties at certain of the Partnership's properties, none of whom are
officers or directors of the Managing General Partner of the Partnership.

     The terms of transactions between the Partnership, the General
Partners and their affiliates are set forth in Item 11 below to which
reference is hereby made for a description of such terms and transactions.




Item 2.  Properties

     The Partnership owns directly or through joint venture partnerships
the properties or interests in the properties referred to under Item 1
above to which reference is hereby made for a description of said
properties.

     The following is a listing of principal businesses or occupations
carried on in and approximate physical occupancy levels by quarter during
fiscal years 1995 and 1994 for the Partnership's investment properties
owned during 1995:



<TABLE>
<CAPTION>
                                               1994                         1995           
                                ------------------------------------------------------------
                     Principal        At     At     At     At      At     At     At     At 
                     Business        3/31   6/30   9/30  12/31    3/31   6/30   9/30  12/31
                     -------------   ----   ----   ----  -----    ----   ----  -----  -----
<S>                  <C>            <C>    <C>   <C>   <C>      <C>    <C>   <C>    <C>    
1. First Financial 
    Plaza
    Encino (Los 
    Angeles), 
    California (1)   University/
                     Bank/Housing 
                     Developer        84%    91%    89%    89%     89%    86%    88%    89%
2. Miami Interna-
    tional Mall
    Miami, Florida   Retail           98%    96%    97%    93%     89%    91%    90%    94%
3. Rivertree Court 
    Shopping Center
    Vernon Hills 
    (Chicago),                       (2)    (2)           (3)     (3) 
    Illinois . . .   Retail           88%    89%    98%    85%     85%    96%    95%    99%
4. Fountain Valley 
    Industrial Park
    Fountain Valley 
    (Los Angeles), 
    California . .   Retail/Light
                     ing Systems 
                     Manufacturer/
                     Nuts and Bolts
                     Distributor      85%    85%    91%   100%     92%    92%   100%    88%
5. Cerritos 
    Industrial Park
    Cerritos 
    (Los Angeles),
    California . .   Aircraft Parts
                     Manufacturer/
                     Spa Manufac-
                     turer/Tire 
                     Distributor     100%   100%   100%   100%    100%   100%   100%   100%
6. Adams/Wabash 
    Self Park
    Chicago, 
    Illinois . . .   Parking Garage    *      *      *      *       *      *      *      * 


<FN>
--------------------

     An asterisk indicates that the property is primarily a parking garage
and occupancy information is not applicable.  However, the approximate
occupancy level for the retail portion of the structure as of December 31,
1995 is 45%.

     (1) The percentage represents physical occupancy.  Mitsubishi
(8,109 square feet or 4% of the building) vacated its space in July 1993
prior to its lease expiration of January 1997 and continues to pay rent
pursuant to its lease obligation.

     (2) The percentage represents physical occupancy.  Filene's
Basement (26,555 square feet or 9% of the building) vacated its space in
January 1994, prior to its lease expiration of January 31, 2007 and
continued to pay rent pursuant to its lease obligation until the assignment
of its lease to Office Depot in April 1994.  Office Depot reopened the
store August 26, 1994.

     (3) The percentage represents physical occupancy.  Phar-Mor (40,560
square feet or 14% of the property) vacated its space in October 1994 upon
assigning its lease to TJX Companies, Inc.  TJX opened its HomeGoods Store
in April 1995 and subsequently vacated its space in January 1996.  In
December 1995, the HomeGoods Store lease was assigned to Best Buy Company,
Inc. for possession on February 1, 1996.


     Reference is made to Item 6, Item 7 and Note 6 for further information
regarding property occupancy, competitive conditions and tenant leases at
the Partnership's investment properties.

</TABLE>


ITEM 3.  LEGAL PROCEEDINGS

     The Partnership is not subject to any material pending legal
proceedings.



ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     There were no matters submitted to a vote of holders of Interests
during fiscal years 1995 and 1994.




                            PART II

ITEM 5.  MARKET FOR THE PARTNERSHIP'S LIMITED PARTNERSHIP INTERESTS 
         AND RELATED SECURITY HOLDER MATTERS

     As of December 31, 1995, there were 9,125 record holders of Interests
of the Partnership. There is no public market for Interests, and it is not
anticipated that a public market for Interests will develop.  Upon request,
the Managing General Partner may provide information relating to a
prospective transfer of Interests to an investor desiring to transfer his
Interests.  The price to be paid for the Interests, as well as any other
economic aspects of the transaction, will be subject to negotiation by the
investor.  There are certain conditions and restrictions on the transfer of
Interests, including, among other things, the requirement that the
substitution of a transferee of Interests as a Limited Partner of the
Partnership be subject to the written consent of the Managing General
Partner.  The rights of a transferee of Interests who does not become a
substituted Limited Partner will be limited to the rights to receive his
share of profits or losses and cash distributions from the Partnership, and
such transferee will not be entitled to vote such Interests.  No transfer
will be effective until the first day of the next succeeding calendar
quarter after the requisite transfer form satisfactory to the Managing
General Partner has been received by the Managing General Partner.  The
transferee consequently will not be entitled to receive any cash
distributions or any allocable share of profits or losses for tax purposes
until such next succeeding calendar quarter.  Profits or losses from
operations of the Partnership for a calendar year in which a transfer
occurs will be allocated between the transferor and the transferee based
upon the number of quarterly periods in which each was recognized as the
holder of the Interests, without regard to the results of the Partnership's
operations during particular quarterly periods and without regard to
whether cash distributions were made to the transferor or transferee. 
Profits or losses arising from the sale or other disposition of Partnership
properties will be allocated to the recognized holder of the Interests as
of the last day of the quarter in which the Partnership recognized such
profits or losses.  Cash distributions to a holder of Interests arising
from the sale or other disposition of Partnership properties will be
distributed to the recognized holder of the Interests as of the last day of
the quarterly period with respect to which such distribution is made.

     Reference is made to Item 6 for a discussion of cash distributions
made to the Limited Partners.



<TABLE>
ITEM 6.  SELECTED FINANCIAL DATA

                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                   YEARS ENDED DECEMBER 31, 1995, 1994, 1993, 1992 AND 1991

                         (NOT COVERED BY INDEPENDENT AUDITORS' REPORT)


<CAPTION>
                          1995         1994         1993        1992        1991     
                     -------------------------- ----------- ------------------------ 
<S>                 <C>          <C>          <C>          <C>         <C>           
Total income . . . . .$ 12,545,834   11,984,676  12,292,002   11,140,476  10,134,959 
                      ============ ======================== ============ =========== 
Operating earnings
 (loss). . . . . . . .$ (4,938,478)   2,853,977   3,179,510    2,206,794     836,374 
Partnership's share of 
 operations of uncon-
 solidated ventures. .     760,913   (1,894,493)   (157,847)    (251,748)   (469,751)
                      ------------ ------------------------ ------------------------ 
    Net operating 
      earnings (loss).  (4,177,565)     959,484   3,021,663    1,955,046     366,623 
Partnership's share of 
  gain on sale of 
  investment property 
  and gain on sale of 
  land from uncon-
  solidated venture. .       --         298,917     346,208    6,366,463       --    
                      ------------ ------------------------ ------------------------ 
Net earnings (loss)
  before partnership's 
  share of extra-
  ordinary item from 
  unconsolidated 
  venture. . . . . . .  (4,177,565)   1,258,401   3,367,871    8,321,509     366,623 
Partnership's share of 
  extraordinary item 
  from unconsolidated 
  venture. . . . . . .       --        (375,000)   (521,183)       --          --    
                      ------------ ------------------------ ------------------------ 
Net earnings (loss). .$ (4,177,565)     883,401   2,846,688    8,321,509     366,623 
                      ============ ======================== ============ =========== 



                          1995         1994         1993        1992        1991     
                     -------------------------- ----------- ------------------------ 
Net earnings (loss)
 per Interest (b):
  Net operating 
    earnings (loss). .$     (31.72)        7.29       22.95        14.85        2.78 
  Partnership's share 
    of gain on invest-
    ment property and 
    share of gain on 
    sale of land from 
    unconsolidated 
    venture. . . . . .       --            2.34        2.71        49.86       --    
  Partnership's share 
    of extraordinary 
    item from uncon-
    solidated venture.       --           (2.85)      (3.96)       --          --    
                      ------------ ------------------------ ------------------------ 
    Net earnings (loss)
      per Interest . .$     (31.72)        6.78       21.70        64.71        2.78 
                      ============ ======================== ============ =========== 
Total assets . . . . .$ 99,483,214  109,171,952 113,581,933  115,959,504 119,093,611 
Long-term debt . . . .$ 26,146,638   26,436,573  26,700,000   15,700,000  26,700,000 
Cash distributions 
  per Interest (c) . .$      44.00        41.00       40.00        85.00       43.50 
                      ============ ======================== ============ =========== 
<FN>
-------------

 (a)   The above selected financial data should be read in conjunction with the financial statements and the
related notes appearing elsewhere in this annual report.

 (b)   The net earnings per Interest is based upon the Interests outstanding at the end of each period
(126,414).

 (c)   Cash distributions from the Partnership are generally not equal to Partnership income (loss) for
financial reporting or Federal income tax purposes.  Each partner's taxable income (loss) from the Partnership in
each year is equal to his allocable share of the taxable income (loss) of the Partnership, without regard to the
cash generated or distributed by the Partnership.  Accordingly, cash distributions to the Limited Partners since
the inception of the Partnership have not resulted in taxable income to such Limited Partners and have therefore
represented a return of capital.

</TABLE>


<TABLE>

SIGNIFICANT PROPERTY - SELECTED RENTAL AND OPERATING DATA AS OF DECEMBER 31, 1995


<CAPTION>

Property
--------

Fountain Valley
Industrial Park  a)  The building area ("BA") occupancy rate and average base rent per square foot as of
December 31 for each of the last five years were as follows:

                                               BA           Avg. Base Rent Per
                      December 31,        Occupancy Rate    Square Foot (1)
                      ------------        --------------    ------------------
<S>              <C>  <C>                 <C>               <C>

                           1991. . . . .      84%               5.47
                           1992. . . . .      74%               5.96
                           1993. . . . .      85%               5.31
                           1994. . . . .     100%               4.41
                           1995. . . . .      88%               5.58
<FN>
                 (1) Average base rent per square foot is based on BA occupied as of December 31 
                     of each year.
</TABLE>
<TABLE>
<CAPTION>
                                                         Base RentScheduled LeaseLease
                 b)    Significant Tenants    Square FeetPer AnnumExpiration DateRenewal Option(s)
                       -------------------    ----------------------------------------------------
<S>              <C>   <C>                    <C>        <C>      <C>           <C>

                       Fry's Electronics      77,028     $434,438 7/2005        7/2010
                       (Retail)                                                 7/2015
</TABLE>


<TABLE>
<CAPTION>
                 c)    The following table sets forth certain information with respect to the expiration of
leases for the next ten years at the Fountain Valley Industrial Park:

                                                                    Annualized     Percent of
                                      Number of   Approx. Total     Base Rent      Total 1995
                       Year Ending    Expiring    BA of Expiring    of Expiring    Base Rent
                       December 31,   Leases      Leases (1)        Leases         Expiring
                       ------------   ---------   ---------------   -----------    ----------
<S>              <C>   <C>            <C>         <C>               <C>            <C>
                          1996             4          81,532          372,600          19%
                          1997             4          78,970          330,600          17%
                          1998             2          45,026          248,600          13%
                          1999             1          11,700           70,200           4%
                          2000            --           --               --              --
                          2001            --           --               --              --
                          2002            --           --               --              --
                          2003            --           --               --              --
                          2004             2          49,770          293,800          15%
                          2005             1          77,028          434,436          23%
<FN>
                 (1)          Excludes leases that expire in 1996 for which renewal leases or leases with
replacement tenants have been executed as of March 22, 1996.
</TABLE>


<TABLE>
<CAPTION>

Property
--------

Rivertree Court
Shopping Center  a)    The gross leasable area ("GLA") occupancy rate and average base rent per square foot
as of December 31 for each of the last five years were as follows:

                                               GLA          Avg. Base Rent Per
                       December 31,       Occupancy Rate    Square Foot (1)
                       ------------       --------------    ------------------
<S>              <C>   <C>                <C>               <C>

                           1991. . . . .      83%              12.97
                           1992. . . . .      90%              11.28
                           1993. . . . .      97%              11.52
                           1994. . . . .      85%              12.86
                           1995. . . . .      99%              12.04
<FN>
                 (1) Average base rent per square foot is based on GLA occupied as of December 31 
                     of each year.
</TABLE>
<TABLE>
<CAPTION>
                                                         Base RentScheduled LeaseLease
                 b)    Significant Tenants    Square FeetPer AnnumExpiration DateRenewal Option(s)
                       -------------------    ----------------------------------------------------
<S>              <C>   <C>                    <C>        <C>      <C>           <C>

                       Cineplex Odeon         40,000      720,000 2/2008        $24.00 psf
                       (Cinema)                                                   through 2/2013
                                                                                $26.00 psf
                                                                                  through 2/2018
                       Best Buy (c(2))        40,560     325,000  1/2011        $10.25 psf
                       (Retail)                                                   through 1/2016
                                                                                $11.00 psf
                                                                                  through 1/2021
                                                                                $11.75 psf
                                                                                  through 1/2025

</TABLE>


<TABLE>
<CAPTION>
                 c)    The following table sets forth certain information with respect to the expiration of
leases for the next ten years at the Rivertree Court Shopping Center:

                                                                    Annualized     Percent of
                                      Number of   Approx. Total     Base Rent      Total 1995
                       Year Ending    Expiring    GLA of Expiring   of Expiring    Base Rent
                       December 31,   Leases      Leases (1)        Leases         Expiring
                       ------------   ---------   ---------------   -----------    ----------
<S>              <C>   <C>            <C>         <C>               <C>            <C>
                          1996            12          42,367          527,100          15%
                          1997             2           3,250           52,600           1%
                          1998            10          61,624          669,200          19%
                          1999             7          15,765          264,900           7%
                          2000             7          13,144          239,700           7%
                          2001             2          17,140          194,800           6%
                          2002             2           7,024          107,200           3%
                          2003            --           --               --              --
                          2004            --           --               --              --
                          2005            --           --               --              --
<FN>
                 (1)          Excludes leases that expire in 1996 for which renewal leases or leases with
replacement tenants have been executed as of March 22, 1996.
                 (2)          During the third quarter of 1992, Phar-Mor filed for protection under Chapter
XI of the United States Bankruptcy Code.  The Phar-Mor store at the Rivertree Court Shopping Center continued to
operate and pay rent pursuant to its lease obligation until October 1994 when Phar-Mor closed its store and
subsequently assigned its lease to the TJX Companies, Inc.  TJX Companies, parent company of TJ Maxx, opened its
HomeGoods Store in April 1995 and subsequently vacated its space in January 1996.  In December 1995, the HomeGoods
Store lease was assigned to Best Buy Company, Inc. for possession on February 1, 1996.
</TABLE>


ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 
         AND RESULTS OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

     On August 20, 1986, the Partnership commenced an offering to the
public of $100,000,000, subject to increase by up to $250,000,000, of
Interests pursuant to a Registration Statement on Form S-11 under the
Securities Act of 1933.  On April 14, 1987, the offering was consummated 
and a total of 126,409 Interests were issued to the public by the
Partnership from which the Partnership received gross proceeds of
$126,409,000.  After deducting selling expenses and other offering costs,
the Partnership had approximately $113,741,000 with which to make
investments primarily in existing commercial real property, to pay legal
fees and other costs (including acquisition fees) related to such
investments and to satisfy working capital requirements.  A portion of such
proceeds was utilized to acquire the properties described in Item 1 above.

     At December 31, 1995, the Partnership and its consolidated venture had
cash and cash equivalents of approximately $13,599,000.  Such funds are
available for future distributions to partners and working capital
requirements.  As more fully described in Note 5, distributions to the
General Partners have been deferred in accordance with the subordination
requirements of the Partnership Agreement.  The Partnership and its
consolidated venture have currently budgeted in 1996 approximately $502,000
for tenant improvements and other capital expenditures.  The Partnership's
share of such items and its share of similar items for its unconsolidated
ventures in 1996 is currently budgeted to be approximately $1,006,000. 
Actual amounts expended in 1996 may vary depending on a number of factors
including actual leasing activity, results of property operations,
liquidity considerations and other market conditions over the course of the
year.  The source of capital for such items and for both short-term and
long-term future liquidity and distributions is expected to be through cash
generated by the Partnership's investment properties and through the sale
of such investments.  Due to an increase in cash flow from operations at
certain of the Partnership's properties, the Partnership increased its
quarterly cash flow distribution to partners effective with the third
quarter of 1994 from $10 per limited partnership interest ("Interest") to
$11 per Interest.  Starting in May 1996, in an effort to reduce partnership
operating expenses, the Partnership expects to make semi-annual, rather
than quarterly, distributions of available operating cash flow.  The
Partnership's and its ventures' mortgage obligations are separate non-
recourse loans secured individually by the investment properties and are
not obligations of the entire investment portfolio.  Therefore, the
Partnership and its ventures are not personally liable for the payment of
the mortgage indebtedness.

     From 1996 through 1998, leases at the Cerritos Industrial Park
representing 89% of the rentable square footage are scheduled to expire,
not all of which are expected to renew.  In February 1994, True Form
(42,750 square feet or 22% of the gross leasable area), filed for
bankruptcy protection under Chapter 11 of the United States Bankruptcy
Code.  The Partnership has determined that the $80,000 owed by True Form as
of the date of the bankruptcy filing is uncollectible and has been written-
off.  The Partnership entered into a new lease with True Form's successor
in bankruptcy, TFI Acquisition, Inc., in May, 1995.

     The Fountain Valley Industrial Park currently operates in a sub-market
with industrial vacancy rates of approximately 10%.  Fountain Valley is
currently 88% leased (including temporary tenants) and occupied.  In 1996
and 1997, leases representing 21% and 20%, respectively, of the leasable
square footage at Fountain Valley are scheduled to expire, not all of which
are expected to be renewed.  The Partnership is examining the possible
redevelopment of the park to retail use (including the possible use of
Partnership funds and/or alternative financing sources) as a result of the
City of Fountain Valley designating a redevelopment zone which includes the



property.  The Partnership had commenced discussions with several large
national retail tenants who had expressed interest in the Fountain Valley
property.  However, due to the facts discussed below, the Partnership
recently terminated a non-binding letter of intent with a national retailer
to take approximately 110,000 square feet of space at the property.  The
City of Fountain Valley has determined that currently the economic benefits
it would derive from a full redevelopment of the property to retail are
outweighed by the potential negative impacts to the current traffic
situation that it has projected.  It is the Partnership's understanding
that the City of Fountain Valley feels that major traffic flow redesigns,
to be implemented over the next several years to relieve traffic
congestion, need to occur prior to a full redevelopment sharing in any
economic incentives derived by the city.  The Partnership is currently
examining the economic benefits of a redevelopment to retail uses on a
smaller scale.

     The Partnership currently derives economic benefits from a prior
conversion in June 1993 to retail of one of its buildings at the Fountain
Valley property.  The Partnership receives a share of the sales tax revenue
that the City of Fountain valley earns on the sales generated by Fry's
Electronics, the sole tenant in the converted building at the property. 
This share is then allocated between the Partnership and Fry's Electronics
based on a formula according to sales generated.  Fry's Electronics
receives its share through rent credits with the remainder recognized as
income by the Partnership.

     Currently, as industrial leases at the Fountain Valley and Cerritos
Industrial Parks expire, lease renewals and new leases are likely be at
rental rates less than the rates on existing leases entered into prior to
1993.  In addition, new leases continue to require expenditures for lease
commissions and tenant improvements prior to tenant occupancy.  As pre-1993
leases expire, the expected decline in rental rates and the costs incurred
upon releasing will result in a decrease in cash flow from operations from
these properties over the near term.  Therefore, due to the uncertainty of
the Partnership's ability to recover the net carrying values of the
Fountain Valley Industrial Park and Cerritos Industrial Park investment
properties through future operations and sale, given the expected holding
period not being beyond December 31, 1999, as of September 30, 1995, the
Partnership recorded, as a matter of prudent accounting practice, a
provision for value impairment of such investments of $4,200,000 and
$4,000,000, respectively.  Such provisions were recorded to reduce the net
carrying value of the investment properties to their estimated fair values.

There can be no assurance that the estimated fair value of the property
would ultimately be obtained by the Partnership in any future sale or
disposition transaction.

     As of December 31, 1995, the Palmer House Hotel did not renew its
exclusive parking agreement with the Adams/Wabash Self Park.  This will
likely have a negative impact on the property's operating cash flow
reducing the preferred return payable to the Partnership by approximately
$500,000 for 1996.  This impact should be partially mitigated in future
years as the property continues to increase transient parking volume to
replace revenues previously generated by the Palmer House contract.

     The Rivertree Court Shopping Center operates in a market which
continues to experience significant growth in the commercial and
residential sectors.  In August 1994, Office Depot reopened the
approximately 26,000 square foot store previously occupied by Filene's
Basement which had closed in January 1994.  Under the terms of the
assignment of the Filene's lease, Office Depot has continued to pay rent on
the space pursuant to the terms of the lease.  In August 1992, Phar-Mor
(which occupied approximately 14% of the center) filed for protection under
Chapter 11 of the United States Bankruptcy Code.  The Phar-Mor store
continued to operate and pay rent under its lease obligation until it
closed the store in October 1994.  Phar-Mor assigned its lease in
bankruptcy to HomeGoods which opened in April 1995.  In conjunction with
the assignment, the Partnership received approximately $125,000 of pre-
petition indebtedness owed by Phar-Mor.



     In January 1996, HomeGoods Store vacated its space in the center.  In
December 1995, the HomeGoods Store lease was assigned to Best Buy Company,
Inc. ("Best Buy") with a possession date of February 1, 1996.  Under the
terms of the assignment and assumption of lease, and as of the date of this
report, HomeGoods Store was current with respect to all charges accruing
under the original lease through January 1996.  Best Buy, an existing
tenant of 25,031 square feet at the center, will be allowed to terminate
its existing lease immediately upon vacating its former space and
relocation to its new space.  The Partnership has entered into a letter of
intent with a major national tenant to lease Best Buy's former space with a
projected occupancy of Summer 1996.  However, no assurances can be made
that such negotiations will ultimately be consummated with a new lease with
this tenant.

     In February 1996, the Partnership entered into a letter of intent to
sell its indirect interest (25%) in West Dade County Associates ("West
Dade") to an affiliate of the developer (the "Venture Partner") for
$13,431,590, subject to prorations.  In connection with the proposed sale
of the Partnership's interest in West Dade, it is expected that Urban
Shopping Center, L.P., an affiliate of the General Partners that is one of
the other partners in JMB/Miami, will exercise a right of first refusal to
purchase approximately 70% of the Partnership's interest in West Dade on
the same terms proposed for the sale to the Venture Partner, with the
remaining approximately 30% of the Partnership's interest in West Dade
being sold to the Venture Partner.  The sales are currently expected to
close in the second quarter of 1996.  Completion of the sales are subject
to negotiation and execution of binding agreements and the satisfaction of
certain conditions.  Accordingly, there are no assurances that the
Partnership will be successful in finalizing the sales of its interest in
West Dade.  The Partnership expects to recognize a gain for Federal income
tax and financial reporting purposes if the sales are completed.  In
addition, IDS/JMB Balanced Income Growth, Ltd. ("IDS/BIG"), a limited
partnership sponsored by an affiliate of the General Partner, has also
entered into a letter of intent to sell its indirect interest in West Dade.



     At December 31, 1995, the First Financial Plaza office building is
approximately 89% occupied.  In July 1993, Mitsubishi vacated its
approximate 8,100 square feet prior to its lease expiration of January 1997
and continues to pay rent pursuant to its lease obligation.  Including the
Mitsubishi lease, the building is 93% leased as of the date of this report.

The Los Angeles office market in general and the Encino submarket in
particular continue to show signs of strengthening as vacancy rates
decrease and rental rates stabilize.

     The first mortgage loan on the property matured November 1, 1995. 
Effective November 1, 1995, Encino and the existing lender amended and
restated the existing mortgage loan.  The new principal balance of the
amended note at November 1, 1995 was $24,970,148.  This amount was
comprised of the then outstanding principal portion of $28,970,148 on the
original $30,000,000 note less a required $4,000,000 principal paydown by
Encino, all of which was advanced by First Financial at closing.  The
Partnership's share of such paydown was $1,500,000.  The amended loan has
an interest rate of 8.67% and a term of two years resulting in a maturity
date of November 1, 1997.  The new monthly installments of principal and
interest, based on a 23-year amortization, are $209,077.

     The First Financial office building appeared to have experienced only
minor cosmetic damage as a result of the January 17, 1994 Northridge
earthquake in southern California.  On February 22, 1995, the city council
of the city of Los Angeles passed an ordinance requiring certain buildings
(identified by building type and location) to perform testing on the welded
steel moment connections to determine if the earthquake had weakened such
joint weldings and to repair such joint weldings if weakness is detected. 
This property qualified for the testing under the ordinance, and therefore,
Encino retained a structural engineer to perform the testing.  Results of
the testing by the structural engineer indicated that some of the
building's joint weldings suffered damage which, in accordance with the



ordinance, were required to be repaired.  Encino's structural engineer
informed Encino that the damage detected did not pose a life safety risk
for the building's tenants.  All testing and repairs necessary to comply
with such ordinance were completed as of October 1995.  The total cost of
such testing and repairs was approximately $826,000 (of which the
Partnership's share was approximately $309,750).

    There are certain risks associated with the Partnership's investments
made through joint ventures including the possibility that the
Partnership's joint venture partners in an investment might become unable
or unwilling to fulfill their financial or other obligations, or that such
joint venture partners may have economic or business interest or goals that
are inconsistent with those of the Partnership.

     In accordance with the subordination requirements of the Partnership
Agreement (Note 5), the General Partners have deferred payment of certain
of their distributions of net cash flow and sale proceeds from the
Partnership.  The cumulative amount of such deferred distributions are
approximately $4,788,000 at December 31, 1995.  All amounts deferred or
currently payable do not bear interest.

     As a result of the real estate market conditions discussed above, the
Partnership continues to conserve its working capital.  All expenditures
are carefully analyzed and certain capital projects are deferred when
appropriate.  The Partnership will also seek additional loan modifications
where appropriate.  By conserving working capital, the Partnership will be
in a better position to meet the future needs of its properties since the
availability of satisfactory outside sources of capital may be limited
given the portfolio's current debt levels.

     Due to these factors, the Partnership has held its remaining
investment properties longer than originally anticipated in an effort to
maximize the return to the Limited Partners.  However, after reviewing the
remaining properties and the marketplaces in which they operate, the
General Partners of the Partnership expect to be able to conduct an orderly
liquidation of its remaining investment portfolio as quickly as
practicable.  Therefore, the affairs of the Partnership are expected to be
wound up no later than December 31, 1999 (sooner if the properties are sold
in the nearer term), barring unforeseen economic developments.

RESULTS OF OPERATIONS

     The increase in cash and cash equivalents and the decrease in short-
term investments at December 31, 1995 as compared to December 31, 1994 is
primarily due to approximately $13,321,000 of the Partnership's U.S.
Government obligations being classified as cash equivalents at December 31,
1995 whereas approximately $5,025,000 of such U.S. Government obligations
were classified as cash equivalents at December 31, 1994.  Reference is
made to Note 1.

     The increase in interest, rents and other receivables and unearned
rents at December 31, 1995 as compared to December 31, 1994 is primarily
due to the accrual in 1995 of sales tax rebates due to Fountain Valley
Industrial Park from the city of Fountain Valley.  Reference is made to
Item 7.

     The increase in investments in unconsolidated ventures at December 31,
1995 as compared to December 31, 1994 is primarily due to the Partnership's
contribution of approximately $1,500,000 to First Financial partially
offset by distributions of net operating cash flow of approximately
$1,300,000 received by the Partnership from West Dade.  Reference is made
to Note 3(c).

     The decrease in land, buildings and improvements and deferred expenses
at December 31, 1995 as compared to December 31, 1994 is primarily due to
the provision for value impairment of $8,200,000 recorded at September 30,
1995 for both the Fountain Valley and Cerritos Industrial Park investment
properties.  Reference is made to Note 2(b).



     The increase in accrued rents receivable as of December 31, 1995 as
compared to December 31, 1994 is primarily due to the accrual of rent on a
straight-line basis related to the 1993 commencement of the Fry's
Electronics lease at the Fountain Valley Industrial Park investment
property.

     The increase in rental income for the year ended December 31, 1995 as
compared to the year ended December 31, 1994 is primarily due to the
increase in transient parking income at the Adams/Wabash investment
property.  This increase is partially offset by lower effective tenant
rents upon  renewal at certain of the Partnership's other investment
properties.  The decrease in rental income for the year ended December 31,
1994 as compared to the year ended December 31, 1993 is due primarily to
the $487,000 fee received for the termination of one of the Newport
Corporation leases at the Fountain Valley Industrial Park in July 1993.

     The increase in interest income for the year ended December 31, 1995
as compared to the year ended December 31, 1994 is primarily due to the
increase in the Partnership's average balance in U.S. Government
obligations and higher rates earned in 1995.  In addition, the increase in
interest income for the year ended December 31, 1994 as compared to the
year ended December 31, 1993 is primarily due to the increase in the
Partnership's average balance in U.S. Government obligations and higher
rates earned in 1994.

     The increase in general and administrative expenses for the year ended
December 31, 1995 as compared to the year ended December 31, 1994 are
attributable primarily to an increase in reimbursable costs to affiliates
of the General Partner in 1995 and the recognition of certain additional
prior year reimbursable costs to such affiliates.  Reference is made to
Note 7.

     The provision for value impairment for the year ended December 31,
1995 is due to the provision for value impairment recorded at September 30,
1995 for both the Fountain Valley and Cerritos Industrial Park investment
properties.  Reference is made to Note 2(b).

     The decrease in the amount of loss from Partnership's share of
operations of unconsolidated ventures for the year ended December 31, 1995
as compared to the year ended December 31, 1994 and the increase for the
year ended December 31, 1994 as compared to the year ended December 31,
1993 is primarily due to the provision for value impairment recorded at
First Financial of approximately $6,475,000 at December 31, 1994.  The
Partnership's share of such provision was approximately $2,428,000. 
Reference is made to Note 3(c).

     The Partnership's share of the gain on sale of land from
unconsolidated venture for the year ended December 31, 1994 and 1993 is due
to the sales of outparcels of land at the Miami International Mall in June
1993 and December 1994.  Reference is made to Note 3(d).

     The extraordinary item from unconsolidated venture for the year ended
December 31, 1993 is primarily due to a prepayment penalty paid to the
first mortgage lender as a result of the loan refinancing at the Miami
International Mall in December 1993.  Reference is made to Note 3(d).

     The extraordinary item from unconsolidated venture for the year ended
December 31, 1994 is due to the Partnership recognizing its share of
estimated earthquake repair costs at the First Financial office building. 
Reference is made to Note 3(c).



INFLATION

     Due to the decrease in the level of inflation in recent years,
inflation generally has not had a material effect on rental income or
property operating expenses.

     Inflation is not expected to significantly impact future operations
due to the expected liquidation of the Partnership by 1999.  However, to
the extent that inflation in future periods would have an adverse impact on
property operating expenses, the effect would generally be offset by
amounts recovered from tenants as many of the long-term leases at the
Partnership's commercial properties have escalation clauses covering
increases in the cost of operating and maintaining the properties as well
as real estate taxes.  Therefore, there should be little effect on
operating earnings if the properties remain substantially occupied.  In
addition, many of the leases at the Partnership's shopping center
investments contain provisions which entitle the Partnership to participate
in gross receipts of tenants above fixed minimum amounts.





ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

              JMB INCOME PROPERTIES, LTD. - XIII
                    (A LIMITED PARTNERSHIP)
                   AND CONSOLIDATED VENTURE

                             INDEX


Independent Auditors' Report

Consolidated Balance Sheets, December 31, 1995 and 1994

Consolidated Statements of Operations, years ended December 31, 
  1995, 1994 and 1993

Consolidated Statements of Partners' Capital Accounts (Deficits),
  years ended December 31, 1995, 1994 and 1993

Consolidated Statements of Cash Flows, years ended December 31, 
  1995, 1994 and 1993

Notes to Consolidated Financial Statements

                                                  SCHEDULE     
                                                  --------     

Consolidated Real Estate and Accumulated DepreciationIII       


SCHEDULES NOT FILED:

     All schedules other than the one indicated in the index have been
omitted as the required information is inapplicable or the information is
presented in the consolidated financial statements or related notes.












                 INDEPENDENT AUDITORS' REPORT


The Partners
JMB INCOME PROPERTIES, LTD. - XIII:

     We have audited the consolidated financial statements of JMB Income
Properties, Ltd. - XIII (a limited partnership) and consolidated venture as
listed in the accompanying index.  In connection with our audits of the
consolidated financial statements, we also have audited the financial
statement schedule as listed in the accompanying index.  These consolidated
financial statements and financial statement schedule are the
responsibility of the General Partners of the Partnership.  Our
responsibility is to express an opinion on these consolidated financial
statements and financial statement schedule based on our audits.

     We conducted our audits in accordance with generally accepted auditing
standards.  Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement.  An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting principles
used and significant estimates made by the General Partners of the
Partnership, as well as evaluating the overall financial statement
presentation.  We believe that our audits provide a reasonable basis for
our opinion.

     In our opinion, the consolidated financial statements referred to
above present fairly, in all material respects, the financial position of
JMB Income Properties, Ltd. - XIII and consolidated venture at December 31,
1995 and 1994, and the results of their operations and their cash flows for
each of the years in the three-year period ended December 31, 1995, in
conformity with generally accepted accounting principles.  Also in our
opinion, the related financial statement schedule, when considered in
relation to the basic consolidated financial statements taken as a whole,
presents fairly, in all material respects, the information set forth
therein.






                                KPMG PEAT MARWICK LLP          



Chicago, Illinois
March 22, 1996



<TABLE>
                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                                  CONSOLIDATED BALANCE SHEETS
                                  DECEMBER 31, 1995 AND 1994

                                            ASSETS
                                            ------
<CAPTION>
                                                                   1995            1994    
                                                               ------------    ----------- 
<S>                                                           <C>             <C>          
Current assets:
  Cash and cash equivalents (note 1) . . . . . . . . . . . .   $ 13,599,171      5,011,101 
  Short-term investments (note 1). . . . . . . . . . . . . .          --         9,214,950 
  Interest, rents and other receivables. . . . . . . . . . .      1,121,270        830,693 
  Prepaid expenses . . . . . . . . . . . . . . . . . . . . .         68,901         65,928 
  Escrow deposits. . . . . . . . . . . . . . . . . . . . . .        102,680         99,877 
                                                               ------------    ----------- 

        Total current assets . . . . . . . . . . . . . . . .     14,892,022     15,222,549 

Investment properties (notes 2, 4 and 6) - Schedule III:
  Land . . . . . . . . . . . . . . . . . . . . . . . . . . .     21,300,842     23,566,702 
  Buildings and improvements . . . . . . . . . . . . . . . .     69,439,819     75,093,333 
                                                               ------------    ----------- 

                                                                 90,740,661     98,660,035 
  Less:  accumulated depreciation. . . . . . . . . . . . . .     16,583,348     14,115,282 
                                                               ------------    ----------- 

         Total investment properties, 
           net of accumulated depreciation . . . . . . . . .     74,157,313     84,544,753 

Investments in unconsolidated ventures, 
  at equity (notes 3 and 8). . . . . . . . . . . . . . . . .      8,026,013      7,072,275 
Deferred expenses. . . . . . . . . . . . . . . . . . . . . .        741,184        894,654 
Accrued rents receivable (note 1). . . . . . . . . . . . . .      1,666,682      1,437,721 
                                                               ------------    ----------- 
                                                               $ 99,483,214    109,171,952 
                                                               ============    =========== 



                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                            CONSOLIDATED BALANCE SHEETS - CONTINUED

                     LIABILITIES AND PARTNERS' CAPITAL ACCOUNTS (DEFICITS)
                     ----------------------------------------------------

                                                                   1995            1994    
                                                               ------------    ----------- 
Current liabilities:
  Current portion of long-term debt (note 4) . . . . . . . .   $    291,589        272,721 
  Accounts payable . . . . . . . . . . . . . . . . . . . . .        197,765        131,948 
  Accrued interest . . . . . . . . . . . . . . . . . . . . .        196,729        198,382 
  Accrued real estate taxes. . . . . . . . . . . . . . . . .      1,171,341      1,231,227 
  Unearned rents . . . . . . . . . . . . . . . . . . . . . .        612,082         70,408 
                                                               ------------    ----------- 

        Total current liabilities. . . . . . . . . . . . . .      2,469,506      1,904,686 

Tenant security deposits . . . . . . . . . . . . . . . . . .        328,622        340,213 
Long-term debt (note 4). . . . . . . . . . . . . . . . . . .     26,146,638     26,436,573 
                                                               ------------    ----------- 
Commitments and contingencies (notes 3, 4 and 6)
        Total liabilities. . . . . . . . . . . . . . . . . .     28,944,766     28,681,472 
                                                               ------------    ----------- 

Partners' capital accounts (deficits) (notes 1 and 5):
    General partners:
        Capital contributions. . . . . . . . . . . . . . . .         20,000         20,000 
        Cumulative net earnings. . . . . . . . . . . . . . .        459,660        626,763 
        Cumulative cash distributions. . . . . . . . . . . .     (1,389,844)    (1,233,777)
                                                               ------------    ----------- 
                                                                   (910,184)      (587,014)
                                                               ------------    ----------- 
    Limited partners (126,414 interests):
        Capital contributions, net of offering costs . . . .    113,741,315    113,741,315 
        Cumulative net earnings  . . . . . . . . . . . . . .     16,290,597     20,301,059 
        Cumulative cash distributions. . . . . . . . . . . .    (58,583,280)   (52,964,880)
                                                               ------------    ----------- 
                                                                 71,448,632     81,077,494 
                                                               ------------    ----------- 
        Total partners' capital accounts . . . . . . . . . .     70,538,448     80,490,480 
                                                               ------------    ----------- 
                                                               $ 99,483,214    109,171,952 
                                                               ============    =========== 

<FN>
                 See accompanying notes to consolidated financial statements.
</TABLE>


<TABLE>
                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                             CONSOLIDATED STATEMENTS OF OPERATIONS

                         YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

<CAPTION>
                                                   1995           1994           1993     
                                               ------------   ------------   ------------ 
<S>                                           <C>            <C>            <C>           
Income:
  Rental income. . . . . . . . . . . . . . .    $11,715,228     11,453,067     11,897,992 
  Interest income. . . . . . . . . . . . . .        830,606        531,609        394,010 
                                                -----------    -----------    ----------- 
                                                 12,545,834     11,984,676     12,292,002 
                                                -----------    -----------    ----------- 
Expenses:
  Mortgage and other interest. . . . . . . .      2,369,963      2,397,689      2,546,010 
  Depreciation . . . . . . . . . . . . . . .      2,468,066      2,489,094      2,476,913 
  Property operating expenses. . . . . . . .      3,608,455      3,596,944      3,529,702 
  Professional services. . . . . . . . . . .        206,307        196,630        192,239 
  Amortization of deferred expenses. . . . .        234,401        205,219        175,953 
  General and administrative . . . . . . . .        397,120        245,123        191,675 
  Provision for value impairment (note 2(b))      8,200,000          --             --    
                                                -----------    -----------    ----------- 
                                                 17,484,312      9,130,699      9,112,492 
                                                -----------    -----------    ----------- 
        Operating earnings (loss). . . . . .     (4,938,478)     2,853,977      3,179,510 
Partnership's share of operations of uncon-
  solidated ventures (note 3). . . . . . . .        760,913     (1,894,493)      (157,847)
                                                -----------    -----------    ----------- 
        Net operating earnings (loss). . . .     (4,177,565)       959,484      3,021,663 
Partnership's share of gain on sale of 
  land from unconsolidated venture 
  (note 3(c)). . . . . . . . . . . . . . . .          --           298,917        346,208 
                                                -----------    -----------    ----------- 
        Net earnings (loss) before Partner-
          ship's share of extraordinary 
          item from unconsolidated venture .     (4,177,565)     1,258,401      3,367,871 
Partnership's share of extraordinary item from 
  unconsolidated venture (notes 3(b) and 3(c))        --          (375,000)      (521,183)
                                                -----------    -----------    ----------- 
        Net earnings (loss). . . . . . . . .    $(4,177,565)       883,401      2,846,688 
                                                ===========    ===========    =========== 



                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                       CONSOLIDATED STATEMENTS OF OPERATIONS - CONTINUED



                                                   1995           1994           1993     
                                               ------------   ------------   ------------ 

Net earnings (loss) per limited partnership 
 interest (note 1):
  Net operating earnings (loss). . . . . . .    $    (31.72)          7.29          22.95 
  Partnership's share of gain on sale 
    of land from unconsolidated 
    venture. . . . . . . . . . . . . . . . .          --              2.34           2.71 
  Partnership's share of extra-
    ordinary items from 
    unconsolidated venture . . . . . . . . .          --             (2.85)         (3.96)
                                                -----------    -----------    ----------- 
        Net earnings (loss). . . . . . . . .    $    (31.72)          6.78          21.70 
                                                ===========    ===========    =========== 

























<FN>
                 See accompanying notes to consolidated financial statements.
</TABLE>


<TABLE>
                                 JMB INCOME PROPERTIES, LTD. - XIII
                                       (A LIMITED PARTNERSHIP)
                                      AND CONSOLIDATED VENTURE

                  CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL ACCOUNTS (DEFICITS)

                            YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993

<CAPTION>
                               GENERAL PARTNERS                                LIMITED PARTNERS (126,414 INTERESTS)
               --------------------------------------------------    ---------------------------------------------------
                                                          CONTRI- 
                                                          BUTIONS 
                                                          NET OF  
            CONTRI-    NET       CASH                    OFFERING     NET        CASH     
            BUTIONS  EARNINGSDISTRIBUTIONS     TOTAL      COSTS     EARNINGS DISTRIBUTIONS  TOTAL   
           -------- -----------------------  --------  ----------- --------------------------------- 
<S>       <C>      <C>      <C>           <C>         <C>         <C>        <C>        <C>         
Balance 
 (deficit) 
 at Decem-
 ber 31, 
 1992. . . .$20,000    496,914   (946,472)   (429,558)113,741,315  16,700,819 (42,621,917)87,820,217 

Net earnings   --      103,481      --        103,481       --      2,743,207       --    2,743,207 
Cash distri-
 butions
 ($40.00 per
 Interest) .   --        --      (141,879)   (141,879)      --          --     (5,107,636) (5,107,636)
           --------   -------- ----------    -------- -----------  ---------- --------------------- 
Balance 
 (deficit) 
 at Decem-
 ber 31, 
 1993. . . . 20,000    600,395 (1,088,351)   (467,956)113,741,315  19,444,026 (47,729,553)85,455,788 

Net earnings   --       26,368      --         26,368       --        857,033       --      857,033 
Cash distri-
 butions
 ($41.00 per
 Interest) .   --        --      (145,426)   (145,426)      --          --     (5,235,327)(5,235,327)
            -------   -------- ----------    -------- -----------  ---------- --------------------- 





                                 JMB INCOME PROPERTIES, LTD. - XIII
                                       (A LIMITED PARTNERSHIP)
                                      AND CONSOLIDATED VENTURE

            CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL ACCOUNTS (DEFICITS) - CONTINUED



                               GENERAL PARTNERS                                LIMITED PARTNERS (126,414 INTERESTS)
               --------------------------------------------------    ---------------------------------------------------
                                                          CONTRI- 
                                                          BUTIONS 
                                                          NET OF  
            CONTRI-    NET       CASH                    OFFERING     NET        CASH     
            BUTIONS  EARNINGSDISTRIBUTIONS     TOTAL      COSTS     EARNINGS DISTRIBUTIONS  TOTAL   
           -------- -----------------------  --------  ----------- --------------------------------- 
Balance 
 (deficit) 
 at Decem-
 ber 31, 
 1994. . . .$20,000    626,763 (1,233,777)   (587,014)113,741,315  20,301,059 (52,964,880)81,077,494 

Net earnings
 (loss). . .   --     (167,103)     --       (167,103)      --     (4,010,462)      --   (4,010,462)
Cash distri-
 butions
 ($44.00 per
 Interest) .   --        --      (156,067)   (156,067)      --          --     (5,618,400)(5,618,400)
            -------   -------- ----------    -------- -----------  ---------- --------------------- 
Balance 
 (deficit) 
 at Decem-
 ber 31, 
 1995. . . .$20,000    459,660 (1,389,844)   (910,184)113,741,315  16,290,597 (58,583,280)71,448,632 
            =======   ======== ==========    ======== ===========  ========== ===================== 













<FN>
                    See accompanying notes to consolidated financial statements.
</TABLE>


<TABLE>
                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                             CONSOLIDATED STATEMENTS OF CASH FLOWS

                         YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993


<CAPTION>

                                                    1995          1994           1993     
                                                -----------    -----------    ----------- 
<S>                                            <C>            <C>            <C>          
Cash flows from operating activities:
  Net earnings (loss). . . . . . . . . . . . .  $(4,177,565)       883,401      2,846,688 
  Items not requiring (providing) cash 
   or cash equivalents:
    Depreciation . . . . . . . . . . . . . . .    2,468,066      2,489,094      2,476,913 
    Amortization of deferred expenses. . . . .      234,401        205,219        175,953 
    Partnership's share of operations 
      of unconsolidated ventures . . . . . . .     (760,913)     1,894,493        157,847 
    Partnership's share of gain on sale 
      of land from unconsolidated venture. . .        --          (298,917)      (346,208)
    Partnership's share of extraordinary 
      item from unconsolidated venture . . . .        --           375,000        521,183 
    Provision for value impairment . . . . . .    8,200,000          --             --    
  Changes in:
    Interest, rents and other receivables. . .     (290,577)       209,191       (323,863)
    Prepaid expenses . . . . . . . . . . . . .       (2,973)         1,680         (5,197)
    Escrow deposits. . . . . . . . . . . . . .       (2,803)        30,592          --    
    Accrued rents receivable . . . . . . . . .     (228,961)      (264,239)      (190,041)
    Accounts payable . . . . . . . . . . . . .       65,817        (83,765)        35,760 
    Accrued interest . . . . . . . . . . . . .       (1,653)       (13,786)         --    
    Accrued real estate taxes. . . . . . . . .      (59,886)        75,475         46,799 
    Unearned rents . . . . . . . . . . . . . .      541,674         70,408          --    
    Tenant security deposits . . . . . . . . .      (11,591)        29,745        (57,303)
                                                -----------    -----------    ----------- 
        Net cash provided 
          by operating activities. . . . . . .    5,973,036      5,603,591      5,338,531 
                                                -----------    -----------    ----------- 



                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                       CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED


                                                    1995          1994           1993     
                                                -----------    -----------    ----------- 
Cash flows from investing activities:
  Net sales and maturities (purchases) 
    of short-term investments. . . . . . . . .    9,214,950      2,305,513     (1,822,734)
  Additions to investment properties . . . . .     (280,626)      (139,621)      (725,372)
  Partnership's distributions from 
    unconsolidated ventures and proceeds 
    from sale of investment property . . . . .    1,346,250      1,800,625        782,450 
  Partnership's contributions to uncon-
    solidated ventures . . . . . . . . . . . .   (1,539,075)       (64,095)       (54,231)
  Payment of deferred expenses . . . . . . . .      (80,931)      (224,919)      (396,157)
                                                -----------    -----------    ----------- 
        Net cash provided by (used in) 
          investing activities . . . . . . . .    8,660,568      3,677,503     (2,216,044)
                                                -----------    -----------    ----------- 
Cash flows from financing activities:
  Principal payments on long-term debt . . . .     (271,067)      (190,706)         --    
  Distributions to limited partners. . . . . .   (5,618,400)    (5,235,327)    (5,107,636)
  Distributions to general partners. . . . . .     (156,067)      (145,426)      (141,879)
                                                -----------    -----------    ----------- 
        Net cash used in 
          financing activities . . . . . . . .   (6,045,534)    (5,571,459)    (5,249,515)
                                                -----------    -----------    ----------- 
        Net increase (decrease) in 
          cash and cash equivalents. . . . . .    8,588,070      3,709,635     (2,127,028)

        Cash and cash equivalents, 
          beginning of year. . . . . . . . . .    5,011,101      1,301,466      3,428,494 
                                                -----------    -----------    ----------- 

        Cash and cash equivalents, 
          end of year. . . . . . . . . . . . .  $13,599,171      5,011,101      1,301,466 
                                                ===========    ===========    =========== 



                              JMB INCOME PROPERTIES, LTD. - XIII
                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

                       CONSOLIDATED STATEMENTS OF CASH FLOWS - CONTINUED


                                                    1995          1994           1993     
                                                -----------    -----------    ----------- 

Supplemental disclosure of cash flow 
 information:
  Cash paid for mortgage and other interest. .  $ 2,371,616      2,411,475      2,546,010 
                                                ===========    ===========    =========== 
  Non-cash investing and financing activities:
    Refinancing of long-term debt (note 4(b)):
      Proceeds of new debt . . . . . . . . . .  $     --        11,200,000          --    
      Retirement of old debt . . . . . . . . .        --       (11,000,000)         --    
      Deferred mortgage costs. . . . . . . . .        --           (69,531)         --    
      Funding of escrow. . . . . . . . . . . .        --          (130,469)         --    
                                                -----------    -----------    ----------- 
          Net proceeds from refinancing of 
            long-term debt . . . . . . . . . .  $     --             --             --    
                                                ===========    ===========    =========== 
























<FN>
                 See accompanying notes to consolidated financial statements.
</TABLE>


              JMB INCOME PROPERTIES, LTD. - XIII
                    (A LIMITED PARTNERSHIP)
                   AND CONSOLIDATED VENTURE

          NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

         YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993



(1)  OPERATIONS AND BASIS OF ACCOUNTING

     The Partnership holds (either directly or through joint ventures) an
equity investment portfolio of United States real estate.  Business
activities consist of rentals to a wide variety of commercial and retail
companies, and the ultimate sale or disposition of such real estate.  The
Partnership currently expects to conduct an orderly liquidation of its
remaining investment portfolio and wind up its affairs not later than
December 31, 1999.

     The accompanying consolidated financial statements include the
accounts of the Partnership and one of its ventures, Adams/Wabash Limited
Partnership ("Adams/Wabash").  The effect of all transactions between the
Partnership and Adams/Wabash have been eliminated in the consolidated
financial statements.  The equity method of accounting has been applied in
the accompanying financial statements with respect to the Partnership's
interests in JMB First Financial Associates ("First Financial") and
JMB/Miami International Associates ("JMB/Miami").  Accordingly, the
accompanying financial statements do not include the accounts of First
Financial and JMB/Miami.

     The Partnership's records are maintained on the accrual basis of
accounting as adjusted for Federal income tax reporting purposes.  The
accompanying financial statements have been prepared from such records
after making appropriate adjustments where applicable to reflect the
Partnership's accounts in accordance with generally accepted accounting
principles ("GAAP").  Such GAAP and consolidation adjustments are not
recorded on the records of the Partnership.

     The net effect of these items is summarized as follows for the years
ended December 31, 1995 and 1994:


<TABLE>

<CAPTION>

                                            1995                           1994           
                             ------------------------------------------------------------ 
                                                 TAX BASIS                 
                                 GAAP BASIS     (Unaudited)    GAAP BASIS       TAX BASIS 
                                ------------    -----------   ------------    ----------- 
<S>                            <C>             <C>           <C>             <C>          
Total assets . . . . . . . . .   $99,483,214    118,361,537    109,171,952    120,931,976 

Partners' capital accounts 
 (deficits) (note 5):
  General partners . . . . . .      (910,184)      (681,719)      (587,014)      (653,578)
  Limited partners . . . . . .    71,448,632     90,969,526     81,077,494     93,517,694 

Net earnings (loss) (note 5):
  General partners . . . . . .      (167,103)       127,926         26,368        383,206 
  Limited partners . . . . . .    (4,010,462)     3,070,232        857,033      2,625,975 

Net earnings (loss) 
  per Interest . . . . . . . .        (31.72)         24.29           6.78          20.77 
                                 ===========    ===========    ===========   ============ 

</TABLE>



     The net earnings (loss) per limited partnership interest is based upon
the limited partnership interests outstanding at the end of the period
(126,414).  Deficit capital accounts will result, through the duration of
the Partnership, in net gain for financial reporting and income tax
purposes.

     The preparation of financial statements in accordance with GAAP
requires the Partnership to make estimates and assumptions that affect the
reported or disclosed amount of assets and liabilities at the date of the
financial statements and the reported amounts of revenues and expenses
during the reporting period.  Actual results could differ from those
estimates.

     Statement of Financial Accounting Standards No. 95 requires the
Partnership to present a statement which classifies receipts and payments
according to whether they stem from operating, investing or financing
activities.  The required information has been segregated and accumulated
according to the classifications specified in the pronouncement. 
Partnership distributions from its unconsolidated ventures are considered
cash flow from operating activities only to the extent of the Partnership's
cumulative share of net earnings.  The Partnership records amounts held in
U.S. Government obligations at cost, which approximates market.  For the
purposes of these statements, the Partnership's policy is to consider all
such amounts held with original maturities of three months or less
($13,321,024 and $5,024,751 at December 31, 1995 and 1994, respectively) as
cash equivalents with any remaining amounts (generally with original
maturities of one year or less) reflected as short-term investments being
held to maturity.

     Deferred expenses consist primarily of deferred organization costs
which are amortized over a 60-month period and deferred lease commissions
and loan fees which are amortized over their respective terms using the
straight-line method.

     Although certain leases of the Partnership provide for tenant
occupancy during periods for which no rent is due and/or increases in
minimum lease payments over the term of the lease, the Partnership accrues
rental income for the full period of occupancy on a straight-line basis.

     Statement of Financial Accounting Standards No. 107 ("SFAS 107"),
"Disclosures about Fair Value of Financial Instruments", requires all
entities to disclose the SFAS 107 value of all financial assets and
liabilities for which it is practicable to estimate.  Value is defined in
the Statement as the amount at which the instrument could be exchanged in a
current transaction between willing parties, other than in a forced or
liquidation sale.  The Partnership believes the carrying amount of its
financial instruments classified as current assets and liabilities
approximates SFAS 107 value due to the relatively short maturity of these
instruments.  There is no quoted market value available for any of the
Partnership's other instruments.  The long-term debt, with a carrying
balance of $26,438,227, has been calculated to have an SFAS 107 value of
$26,236,200 by discounting the scheduled loan payments to maturity.  Due to
restrictions on transferability and prepayment and the inability to obtain
comparable financing due to current levels of debt, previously modified
debt terms or other property specific competitive conditions, the
Partnership would be unable to refinance these properties to obtain such
calculated debt amounts reported.  (See note 4.)  The Partnership has no
other significant financial instruments.

     No provision for State or Federal income taxes has been made as the
liability for such taxes is that of the Partners rather than the
Partnership.  However, in certain instances, the Partnership has been
required under applicable law to remit directly to the tax authorities
amounts representing withholding from distributions paid to Partners.




(2)  INVESTMENT PROPERTIES

     (a)  General

     The Partnership has acquired, either directly or through joint
ventures (note 3), three shopping centers, two multi-tenant industrial
buildings, an office complex and a parking/retail structure.  In January
1992, the Partnership's interest in the Mid Rivers Mall was sold.  All of
the properties owned at December 31, 1995 were operating.  The cost of the
investment properties represents the total cost to the Partnership plus
miscellaneous acquisition costs.

     Depreciation on the properties has been provided over the estimated
useful lives of the various components as follows:

                                                YEARS
                                                -----
     Building and improvements -- straight-line   30 
     Personal property -- straight-line. . . .     5 
                                                  == 

     Maintenance and repairs are generally charged to operations as
incurred.  Significant betterments and improvements are capitalized and
depreciated over their estimated useful lives.

     Under the Partnership's impairment policy, provisions for value
impairment are recorded with respect to investment properties pursuant to
Statement of Financial Accounting Standards No. 121 ("SFAS 121")
"Accounting for the Impairment of Long-Lived Assets and Long-Lived Assets
to Be Disposed Of".  Therefore, the Partnership does not anticipate any
effect on its consolidated financial statements upon full adoption of SFAS
121 as required in the first quarter of 1996.

     Certain investment properties are pledged as security for the long-
term debt, for which there is no recourse to the Partnership (note 4).

     (b)  Fountain Valley and Cerritos Industrial Parks

     Currently, as industrial leases at the Fountain Valley and Cerritos
Industrial Parks expire, lease renewals and new leases are likely to be at
rental rates less than the rates on existing leases entered into prior to
1993.  In addition, new leases continue to require expenditures for lease
commissions and tenant improvements prior to tenant occupancy.  As pre-1993
leases expire, the expected decline in rental rates and the costs incurred
upon releasing will result in a decrease in cash flow from operations from
these properties over the near term.  Therefore, due to the uncertainty of
the Partnership's ability to recover the net carrying values of the
Fountain Valley Industrial Park and Cerritos Industrial Park investment
properties through future operations and sale, given the expected holding
period not being in excess of December 31, 1999, as of September 30, 1995,
the Partnership recorded, as a matter of prudent accounting practice, a
provision for value impairment of such investments of $4,200,000 and
$4,000,000, respectively.  Such provisions were recorded to reduce the net
carrying value of the investment properties to their estimated fair values.

There can be no assurance that the estimated fair value of the property
would ultimately be obtained by the Partnership in any future sale or
disposition transaction.


(3)  VENTURE AGREEMENTS

     (a)  General

     The Partnership at December 31, 1995 is a party to three operating
joint venture agreements.  Pursuant to such agreements, the Partnership has
made initial cash capital contributions of approximately $42,900,000.  In
general, the joint venture partners, who are either the sellers (or their
affiliates) of the property investments being acquired, or parties which



have contributed an interest in the property being developed, or were
subsequently admitted to the ventures, make no cash contributions to the
ventures, but their retention of an interest in the property, through the
joint venture, is taken into account in determining the purchase price of
the Partnership's interest, which is determined by arm's-length
negotiations.  Under certain circumstances, either pursuant to the venture
agreements or due to the Partnership's obligations as general partner, the
Partnership may be required to make additional cash contributions to the
ventures.

     The Partnership has acquired, through the above ventures, one office
building, two regional shopping malls and one parking/retail structure. 
The joint venture partners (who were primarily responsible for constructing
the properties) contributed any excess of cost over the aggregate amount
available from Partnership contributions and financing and, to the extent
such funds exceeded the aggregate costs, were to retain such excesses.  Two
of the venture properties operating as of December 31, 1995 have been
financed under various long-term debt arrangements as described in notes
(b) and (c) below.

     There are certain risks associated with the Partnership's investments
made through joint ventures including the possibility that the
Partnership's joint venture partners in an investment might become unable
or unwilling to fulfill their financial or other obligations, or that such
joint venture partners may have economic or business interests or goals
that are inconsistent with those of the Partnership.

    (b)  First Financial

     On May 20, 1987, the Partnership, through First Financial, a joint
venture with JMB-XII, acquired an interest in a general partnership
("Encino") with an affiliate of the developer ("Encino Venture Partner"). 
Encino owns an office building in Encino (Los Angeles), California.  First
Financial made an initial investment in the aggregate amount of
approximately $49,812,000 to Encino.  First Financial does not anticipate
further increasing its cash investment in Encino.

     In November 1987, First Financial caused Encino to obtain a third
party first mortgage loan in the amount of $30,000,000.  The proceeds of
such loan were distributed to First Financial to reduce its contribution
and to the Encino Venture Partner who subsequently repaid a $15,500,000
loan from First Financial.  Thus, the total cash investment of First
Financial for its interest in the office building, after consideration of
the funding of the $30,000,000 permanent financing, is approximately
$20,000,000, of which the Partnership's share is approximately $7,500,000.

     The first mortgage loan on the property matured November 1, 1995. 
Effective November 1, 1995, Encino and the existing lender amended and
restated the existing mortgage loan.  The new principal balance of the
amended note at November 1, 1995 was $24,970,148.  This amount was
comprised of the then outstanding principal portion of $28,970,148 on the
original $30,000,000 note less a required $4,000,000 principal paydown by
Encino, all of which was advanced by First Financial at closing of which
the Partnership's share of such paydown was $1,500,000.  The amended loan
has an interest rate of 8.67% and a term of two years resulting in a
maturity date of November 1, 1997.  The new monthly installments of
principal and interest, based on a 23-year amortization, are $209,077.

     In order to finalize the loan extension described above, the
Partnership and its affiliated partner advanced approximately $4.1 million
(approximately $1.5 million by the Partnership) to the joint venture to
fund the required principal paydown and related loan fees.  A capital call
has been made on the unaffiliated joint venture partner for its share of
the total required amount; however, the unaffiliated joint venture partner
has indicated that it does not intend to fund its required share.  The
Partnership and its affiliated partner are in discussions with the
unaffiliated partner and have reached an agreement in principle to settle



this dispute through a modification of the joint venture agreement.  There
can be no assurance that a modification of the joint venture agreement will
be reached.  Should a modification of the joint venture agreement not be
reached, the Partnership and its affiliated partner will pursue all rights
and remedies available under the joint venture agreement.

     Due to the uncertainty of Encino's ability to recover the net carrying
value of the First Financial office building investment property through
future operations and sale during the estimated holding period, Encino
recorded, as a matter of prudent accounting practice, a provision for value
impairment of such investment of approximately $6,475,000, all of which was
allocated to First Financial.  The Partnership's share of such provision to
First Financial was approximately $2,428,000.  Such provision was recorded
at December 31, 1994 to reduce the net carrying value of the investment
property to its then estimated recoverable value.

     As previously reported, the First Financial office building appeared
to have experienced only minor cosmetic damage as a result of the January
17, 1994 Northridge earthquake in southern California.  On February 22,
1995, the city council of the city of Los Angeles passed an ordinance
requiring certain buildings (identified by building type and location) to
perform testing on the welded steel moment connections to determine if the
earthquake had weakened such joint weldings and to repair such joint
weldings if weakness is detected.  This property qualified for the testing
under the ordinance, and therefore, Encino retained a structural engineer
to perform the testing.  Results of the testing by the structural engineer
indicated that some of the building's joint weldings suffered damage which,
in accordance with the ordinance, were required to be repaired.  Encino's
structural engineer informed Encino that the damage detected did not pose a
life safety risk for the building's tenants.  All testing and repairs
necessary to comply with such ordinance were completed as of October 1995. 
The total cost of such testing and repairs was approximately $826,000 (of
which the Partnership's share was approximately $309,750).

     The Encino partnership agreement generally provides that First
Financial is entitled to receive (after any participating amounts due to
Pepperdine University pursuant to its tenant lease) from cash flow from
operations (as defined) an annual cumulative preferred return equal to
9.05% through April 30, 1995 (and 8.9% thereafter) of its capital contri-
butions.  Any remaining cash flow is to be split equally between First
Financial and the Venture Partner.  Pepperdine University, under its tenant
lease, is entitled to an amount based on 6.6% of the Venture Partner's
share of the office building's net operating profit and net sale profit (as
defined).

     All of Encino's operating profits and losses before depreciation have
been allocated to First Financial in 1994 and 1993.

     The Encino partnership agreement also generally provides that net sale
proceeds and net refinancing proceeds (as defined), after any amounts due
to Pepperdine University pursuant to its tenant lease, are to be
distributed:  first, to First Financial in an amount equal to the
deficiency, if any, in its cumulative preferred return as described above;
next, to First Financial in the amount of its capital contributions; next,
to the Venture Partner in an amount equal to $400,000; any remaining
proceeds are to be split equally between First Financial and the Venture
Partner.



     The terms of the First Financial partnership agreement provide that
annual cash flow, net sale or refinancing proceeds, and tax items will be
distributed or allocated, as the case may be, to the Partnership in
proportion to its 37.5% share of capital contributions.

     The office building is managed by an affiliate of the Venture Partner
for a fee based upon a percentage of rental receipts (as defined) of the
property.

     (c) JMB/Miami

     On January 26, 1988, the Partnership, through JMB/Miami, a general
partnership with JMB/Miami Investors L.P., a partnership sponsored by an
affiliate of the General Partners of the Partnership, acquired an interest
in an existing partnership ("West Dade" in which JMB/Miami is a general
partner), with an affiliate of the developer (the "Venture Partner"), which
owns an enclosed regional shopping center in Miami, Florida known as Miami
International Mall.  During February 1989, IDS/JMB Balanced Income Growth,
Ltd., a partnership sponsored by an affiliate of the General Partners of
the Partnership made a capital contribution to JMB/Miami to acquire an
interest therein.  During October 1993, JMB/Miami Investors L.P.
transferred its interest in JMB/Miami to Urban Shopping Centers, L.P., a
partnership controlled by Urban Shopping Centers, Inc. (a public
corporation organized by an affiliate of the General Partners of the
Partnership).  The Partnership's cash investment in JMB/Miami is
$10,402,500.  The terms of JMB/Miami partnership agreement provide that
annual cash flow, net sale or refinancing proceeds, and tax items will be
distributed or allocated, as the case may be, to the Partnership in
proportion to its 50% share of capital contributions.

     JMB/Miami has invested $17,678,694 for a 50% interest in West Dade and
$1,126,306 as a contribution for initial working capital requirements of
West Dade.  The West Dade venture agreement provides that JMB/Miami and the
Venture Partner generally are each entitled to receive 50% of profits and
losses, net cash flow and net sale or refinancing proceeds of West Dade and
are each obligated to advance 50% of any additional funds required under
the terms of the West Dade venture agreement.

     In February 1996, the Partnership entered into a letter of intent to
sell its indirect interest (25%) in West Dade County Associates ("West
Dade") to the Venture Partner for $13,431,590, subject to prorations.  In
connection with the proposed sale of the Partnership's interest in West
Dade, it is expected that Urban Shopping Center, L.P., an affiliate of the
General Partners that is one of the other partners in JMB/Miami, will
exercise a right of first refusal to purchase approximately 70% of the
Partnership's interest in West Dade on the same terms proposed for the sale
to the Venture Partner, with the remaining approximately 30% of the
Partnership's interest in West Dade being sold to the Venture Partner.  The
sales are currently expected to close in the second quarter of 1996. 
Completion of the sales are subject to negotiation and execution of binding
agreements and the satisfaction of certain conditions.  Accordingly, there
are no assurances that the Partnership will be successful in finalizing the
sales of its interest in West Dade.  The Partnership expects to recognize a
gain for Federal income tax and financial reporting purposes if the sales
are completed.  In addition, IDS/JMB Balanced Income Growth, Ltd.
("IDS/BIG"), a limited partnership sponsored by an affiliate of the General
Partner, has also entered into a letter of intent to sell its indirect
interest in West Dade.

     In December 1993, West Dade obtained a new mortgage loan in the
principal amount of $47,500,000 replacing the existing first mortgage loan
at the property.  The new mortgage loan bears interest at 6.91% per annum
and matures December 21, 2003.  The loan provides for monthly interest-only
payments for years one through three and monthly principal and interest
payments based on a twenty-year amortization period for years four through
ten.  The non-recourse loan is secured by a first mortgage on the Miami
International Mall.  After payment of costs and fees related to the
refinancing, there were no distributable proceeds from the new loan.



     In conjunction with the refinancing in December 1993, West Dade
incurred a prepayment penalty on the early retirement of the original loan
in the amount $2,015,357, of which the Partnership's share is $503,839.  In
addition, West Dade had written off costs associated with the original loan
in the amount of $69,374, of which the Partnership's share is $17,344.

     West Dade sold a 3.9 acre outparcel of land at Miami International
Mall in June 1993 for a net sale price of approximately $1,560,000 after
certain selling costs, of which the Partnership's share was approximately
$390,000.  For financial reporting purposes, West Dade recognized a gain in
1993 of approximately $1,385,000, of which the Partnership's share was
approximately $346,000.  For Federal income tax purposes, West Dade
recognized a gain in 1993 of approximately $325,000, of which the
Partnership's share was a loss of approximately $37,000.

     West Dade sold a 4 acre outparcel of land at Miami International Mall
in December 1994 for a net sales price of approximately $1,466,000 after
certain selling costs, of which the Partnership's share was approximately
$367,000.  For financial reporting purposes, West Dade has recognized a
gain in 1994 of approximately $1,195,000, of which the Partnership's share
is approximately $299,000.  For income tax purposes, West Dade has
recognized a gain in 1994 of approximately $985,000, of which the
Partnership's share is a gain of approximately $274,000.

     The shopping center is managed by an affiliate of the Venture Partner.

The manager is paid an annual fee equal to 4-1/2% of the net operating
income of the shopping center.

     (e)  Adams/Wabash

     On April 19, 1988, an affiliate of the Partnership entered into a
forward commitment on behalf of the Partnership to make a total cash
investment to a maximum of $25,750,000 in the Adams/Wabash Limited
Partnership ("Adams/Wabash"), which constructed a parking garage and retail
space structure (the "Project") in Chicago, Illinois.  The Project contains
671 parking spaces and approximately 28,800 square feet of rentable retail
area.  The Partnership has funded approximately $24,994,000 of its total
cash commitment and is not required to increase its original cash
investment.

     Upon acquisition, the Partnership was admitted to an existing
partnership with a 49.9% ownership interest, which increased to 74.9%
effective October 1, 1993 pursuant to the terms of the Adams/Wabash
Partnership Agreement.  The Managing General Partner of the Partnership has
a .1% interest with the remaining 25% held by the developers.  The
Partnership is entitled to a cumulative annual preferred return, payable
from operating cash flow, of 10% of its capital contributions to the
existing partnership.  Any distributable cash flow in excess of the
Partnership's preferred return will be distributed in accordance with the
ownership interests of Adams/Wabash.  The Partnership also has a preferred
position with respect to distributions of sales and financing proceeds. 
Items of profit and loss are, in general, allocated in accordance with
distributions of cash flow.  Accordingly, for financial reporting purposes,
for the years ended December 31, 1995, 1994 and 1993, the Partnership was
allocated 100% of the operating profits of Adams/Wabash.  As of December
31, 1995, the Partnership has received slightly less than its preferred
return.  As of December 31, 1995, the Palmer House Hotel did not renew its
exclusive parking agreement with the Adams/Wabash Self Park.




(4)  LONG-TERM DEBT

     (a)  Long-term debt consisted of the following at December 31, 1995
and 1994:
                                     1995           1994    
                                  -----------    -----------
10.03% mortgage note; secured by 
 the Rivertree Court Shopping 
 Center located in Vernon Hills 
 (Chicago), Illinois; payable 
 monthly, interest only; due 
 January 1, 1999 . . . . . . .    $15,700,000     15,700,000

7.32% mortgage note; secured 
 by the Fountain Valley and 
 Cerritos Industrial Parks 
 located in Fountain Valley 
 and Cerritos (Los Angeles),
 California, respectively; 
 payable in monthly install-
 ments of principal and 
 interest of $88,998, remaining 
 principal balance of 
 approximately $9,008,000 plus 
 accrued interest due on 
 March 1, 2001 . . . . . . . .     10,738,227     11,009,294
                                  -----------     ----------
    Total debt . . . . . . . .     26,438,227     26,709,294
    Less current portion of 
     long-term debt. . . . . .        291,589        272,721
                                  -----------     ----------
    Total long-term debt . . .    $26,146,638     26,436,573
                                  ===========     ==========

     Five year maturities of long-term debt are summarized as follows: 

                 1996. . . . . . . $   291,589
                 1997. . . . . . .     313,664
                 1998. . . . . . .     337,410
                 1999. . . . . . .  16,062,954
                 2000. . . . . . .     390,432
                                   ===========


     (b)  Long-Term Debt Refinancing

     In February 1994, the Partnership extended and increased the Fountain
Valley and Cerritos Industrial Parks first mortgage loan to the principal
amount of $11,200,000, which is secured.  After payment of costs and fees
related to the refinancing, there were no distributable proceeds from the
loan extension.  Prior to the extension, the Partnership had entered into a
forbearance agreement with the lender providing, among other things, that
the lender agreed not to exercise its rights and remedies under the
original loan documents from November 2, 1993, the original maturity date,
until January 31, 1994.  The Partnership continued to pay interest only at
an annual rate of 8.83% on the original $11,000,000 principal balance
through the effective date of the refinancing.




(5)  PARTNERSHIP AGREEMENT

     Pursuant to the terms of the Partnership Agreement, net profits or
losses of the Partnership from operations generally are allocated 96% to
the Limited Partners and 4% to the General Partners.  Profits or losses for
Federal income tax purposes from the sale or refinancing of properties
generally will be allocated 99% to the Limited Partners and 1% to the
General Partners.  However, net profits from the sale of properties will be
additionally allocated to the General Partners (i) to the extent that cash
distributions to the General Partners of sale proceeds from such sale
exceed the aforesaid 1% of such profits and (ii) in order to reduce
deficits, if any, in the General Partners' capital accounts to a level
consistent with the gain anticipated to be realized from the sale of
additional properties.

     The General Partners have made capital contributions to the
Partnership aggregating $20,000.  The General Partners are not required to
make any additional capital contributions except under certain limited
circumstances upon dissolution and termination of the Partnership. 
Disbursable cash from operations, as defined in the Partnership Agreement,
will be distributed 90% to the Limited Partners and 10% to the General
Partners, subject to certain limitations.  Sale or refinancing proceeds
will be distributed 100% to the Limited Partners until the Limited Partners
have received their contributed capital plus a stipulated return thereon. 
The General Partners will then receive 100% of the sale or refinancing
proceeds until they receive amounts equal to (i) the cumulative deferral of
their 10% distribution of disbursable cash and (ii) 2% of the selling
prices of all properties which have been sold, subject to certain
limitations.  Any remaining sale or refinancing proceeds will then be
distributed 85% to the Limited Partners and 15% to the General Partners. 
Accordingly, approximately $4,170,000 of disbursable cash and approximately
$618,000 of sale proceeds from the sale of the Mid Rivers Mall have been
deferred by the General Partners.


(6)  LEASES

     As Property Lessor

     The Partnership and its consolidated venture's principal assets are
two multi-tenant industrial building complexes, a shopping center and a
parking/retail structure.  The Partnership has determined that all leases
relating to these properties are properly classified as operating leases;
therefore, rental income is reported when earned and the cost of the
properties, excluding the cost of the land, is depreciated over their
estimated useful lives.  Leases with tenants range in term from one to
fifteen years and provide for fixed minimum rent and partial reimbursement
of operating costs.  In addition, leases with shopping center tenants
provide for additional rent based upon percentages of tenants' sales
volumes.  With respect to the Partnership's shopping center investments, a
substantial portion of the ability of retail tenants to honor their leases
is dependent upon the retail economic sector.



     Cost and accumulated depreciation of the leased assets are summarized
as follows at December 31, 1995:

     Industrial Building Complexes:
       Cost. . . . . . . . . . . . . . . . .   $29,098,866 
       Accumulated depreciation. . . . . . .    (6,383,912)
                                               ----------- 
                                                22,714,954 
                                               ----------- 
     Shopping Center:
       Cost. . . . . . . . . . . . . . . . .    39,251,233 
       Accumulated depreciation. . . . . . .    (7,519,053)
                                               ----------- 
                                                31,732,180 
                                               ----------- 
     Parking/Retail Structure:
       Cost. . . . . . . . . . . . . . . . .    22,390,562 
       Accumulated depreciation. . . . . . .    (2,680,383)
                                               ----------- 
                                                19,710,179 
                                               ----------- 
                                               $74,157,313 
                                               =========== 

     Minimum lease payments, including amounts representing executory costs
(e.g. taxes, maintenance, insurance) and any related profit, to be received
in the future under the operating leases are as follows:

     1996. . . . . . . . . . . . . . . . . .    $ 5,961,985
     1997. . . . . . . . . . . . . . . . . .      5,224,415
     1998. . . . . . . . . . . . . . . . . .      4,161,731
     1999. . . . . . . . . . . . . . . . . .      3,563,951
     2000. . . . . . . . . . . . . . . . . .      3,317,457
     Thereafter. . . . . . . . . . . . . . .     16,048,263
                                                -----------
          Total. . . . . . . . . . . . . . .    $38,277,802
                                                ===========


(7)  TRANSACTIONS WITH AFFILIATES

     Certain of the Partnership's properties are managed by affiliates of
the General Partners or their assignees for fees computed as a percentage
of certain rents received by the properties.  In December 1994, one of the
affiliated property managers sold substantially all of its assets and
assigned its interest in its management contracts to an unaffiliated third
party.  In addition, certain of the management personnel of the property
manager became management personnel of the purchaser and its affiliates. 
The successor to such affiliated property manager's assets is acting as the
property manager of the Fountain Valley and Cerritos Industrial Parks after
the sale on the same terms that existed prior to the sale.

     The Partnership, pursuant to the Partnership Agreement, is permitted
to engage in various transactions involving the Managing General Partner
and its affiliates including the reimbursement for salaries and salary-
related expenses of its employees, certain of its officers, and other
direct expenses relating to the administration of the Partnership and the
operation of the Partnership's investments.  Fees, commissions and other
expenses required to be paid by the Partnership to the General Partners and
their affiliates as of December 31, 1995, 1994 and 1993 are as follows:



<TABLE>

<CAPTION>
                                                                               UNPAID AT  
                                                                              DECEMBER 31,
                                         1995         1994          1993         1995     
                                       --------     --------      --------  --------------
<S>                                   <C>          <C>           <C>       <C>            
Property management and 
  leasing fees (note 6). . . . . .     $103,838      212,212       231,529         9,214  
Insurance commissions. . . . . . .        9,986        8,393        10,861          --    
Reimbursement (at cost) for
  accounting services. . . . . . .       76,545       82,333        76,373          --    
Reimbursement (at cost) for
  portfolio management
  services . . . . . . . . . . . .       69,714       40,240         --             --    
Reimbursement (at cost) for
  legal services . . . . . . . . .        1,762        6,221         2,035          --    
Reimbursement (at cost) for
  administrative charges and
  other out-of-pocket expenses . .      137,851       12,151        11,206        55,300  
                                       --------      -------       -------        ------  

                                       $399,696      361,550       332,004        64,514  
                                       ========      =======       =======        ======  
<FN>

     The above table reflects that during 1995, the Partnership recognized and paid certain 1994 administrative
charges of approximately $77,000 that had not previously been reimbursed.

</TABLE>



     In accordance with the subordination requirements of the Partnership
Agreement (note 5), the General Partners have deferred payment of certain
of their distributions of net cash flow and sale proceeds from the
Partnership.  All amounts deferred or currently payable do not bear
interest.

     During 1994, certain officers and directors of the Managing General
Partner acquired interests in a company which provides certain property
management services to a property owned by the Partnership.  The fees
earned by such company from the Partnership for the year ended December 31,
1995 were approximately $177,000, all of which has been paid at December
31, 1995.

     Effective October 1, 1995, the Managing General Partner of the
Partnership engaged independent third parties to perform certain
administrative services for the Partnership which were previously performed
by, and partially reimbursed to, affiliates of the General Partners.  Use
of such third parties is not expected to have a material effect on the
operations of the Partnership.


(8)  INVESTMENT IN UNCONSOLIDATED VENTURES

     Summary combined financial information for First Financial and
JMB/Miami (note 3) as of and for the years ended December 31, 1995 and 1994
is as follows:

                                      1995         1994     
                                  ------------ ------------ 

Current assets . . . . . . . . . .$  4,433,344    3,016,687 
Other current liabilities. . . . .    (915,416) (30,825,996)
                                  ------------ ------------ 

    Working capital. . . . . . . .   3,517,928  (27,809,309)

Investment property, net . . . . .  77,209,499   80,107,668 
Other assets, net. . . . . . . . .   1,723,225    3,169,855 
Long-term debt . . . . . . . . . . (72,080,876) (47,500,000)
Other liabilities. . . . . . . . .    (359,793)    (258,643)
Venture partners' equity . . . . .  (1,983,970)    (637,296)
                                  ------------ ------------ 
    Partnership's capital. . . . .$  8,026,013    7,072,275 
                                  ============ ============ 
Represented by:
  Invested capital . . . . . . . .$ 33,638,348   32,099,273 
  Cumulative distributions . . . . (30,079,909) (28,733,659)
  Cumulative earnings. . . . . . .   4,467,574    3,706,661 
                                  ------------ ------------ 
                                  $  8,026,013    7,072,275 
                                  ============ ============ 
Total income . . . . . . . . . . .$ 19,328,590   18,725,264 
                                  ============ ============ 
Operating expenses . . . . . . . .$ 15,808,613   22,776,897 
                                  ============ ============ 
Operating earnings (loss). . . . .$  3,519,977   (4,051,633)
                                  ============ ============ 
Gain on sale of land and property.$      --       1,195,670 
                                  ============ ============ 
Extraordinary item . . . . . . . .$      --      (1,000,000)
                                  ============ ============ 
Net income (loss). . . . . . . . .$  3,519,977   (3,855,963)
                                  ============ ============ 

     Total income, operating expenses and net loss of the above-mentioned
ventures for the year ended December 31, 1993 were $18,281,016, $18,541,224
and $959,277, respectively.



<TABLE>
                                                                                   SCHEDULE III     

                                 JMB INCOME PROPERTIES, LTD. - XIII

                                       (A LIMITED PARTNERSHIP)
                                      AND CONSOLIDATED VENTURE

                        CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION
                                          DECEMBER 31, 1995


<CAPTION>

                                                    COSTS         
                                                  CAPITALIZED     
                          INITIAL COST TO         SUBSEQUENT TO     GROSS AMOUNT AT WHICH CARRIED   
                          PARTNERSHIP (A)        ACQUISITION            AT CLOSE OF PERIOD (B)      
                      ------------------------------------------------------------------------------------
                                  BUILDINGS            BUILDINGS               BUILDINGS 
                 ENCUM-              AND                  AND                     AND               
                 BRANCE    LAND  IMPROVEMENTS   LAND  IMPROVEMENTS      LAND IMPROVEMENTS  TOTAL (C)
                 ------  -------------------------------------------  ------------------------------
<S>        <C>       <C>        <C>       <C>         <C>        <C>         <C>       <C>          
Industrial 
 Complexes:
Fountain Valley
 Industrial 
 Park and 
 Cerritos
 Industrial 
 Park. . . .$10,738,227 9,111,020  25,783,707(2,265,860)(3,530,001) 6,845,160 22,253,706  29,098,866

Shopping Center:
 Rivertree 
 Court Shopping 
 Center. . . 15,700,000 7,893,178  30,830,231      --     527,824    7,893,178 31,358,055 39,251,233

Parking/Retail:
 Adams/Wabash
 Self Park .      --    6,530,093  14,547,233    32,411 1,280,825    6,562,504 15,828,058 22,390,562
            ---------------------  ------------------------------   ---------- ---------- ----------

    Total. .$26,438,22723,534,291  71,161,171(2,233,449)(1,721,352) 21,300,842 69,439,819 90,740,661
            =====================  ==============================   ========== ========== ==========

</TABLE>


<TABLE>
                                                                  SCHEDULE III - CONTINUED     

                              JMB INCOME PROPERTIES, LTD. - XIII

                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

               CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION - CONTINUED



<CAPTION>
                                                                      LIFE ON WHICH
                                                                      DEPRECIATION 
                                                                       IN LATEST   
                                                                      STATEMENT OF      1995   
                             ACCUMULATED           DATE OF   DATE      OPERATIONS   REAL ESTATE
                            DEPRECIATION(D)     CONSTRUCTIONACQUIRED  IS COMPUTED      TAXES   
                           ----------------     ------------------------------------------------
<S>                       <C>                  <C>       <C>       <C>            <C>          
Industrial Complexes:
 Fountain Valley
 Industrial Park
 and Cerritos
 Industrial Park . . . . . . .  $ 6,383,912       1967-1970  11/1/88     5-30 years     438,161

Shopping Center:
 Rivertree Court
 Shopping Center . . . . . . .    7,519,053         1988    10/20/88     5-30 years     470,327

Parking/Retail:
 Adams/Wabash
 Self Park . . . . . . . . . .    2,680,383       1989-1990  10/1/90       30 years     572,314
                                -----------                                           ---------

    Total. . . . . . . . . . .  $16,583,348                                           1,480,802
                                ===========                                           =========

<FN>
------------------

     (A)  The initial cost to the Partnership represents the original purchase price of the 
properties, including amounts incurred subsequent to acquisition which were contemplated at 
the time the property was acquired.
     (B)  The aggregate cost of real estate owned at December 31, 1995 for Federal income 
tax purposes was $98,591,203.

</TABLE>


<TABLE>
                                                                  SCHEDULE III - CONTINUED     

                              JMB INCOME PROPERTIES, LTD. - XIII

                                    (A LIMITED PARTNERSHIP)
                                   AND CONSOLIDATED VENTURE

               CONSOLIDATED REAL ESTATE AND ACCUMULATED DEPRECIATION - CONTINUED


(C)   Reconciliation of real estate owned:

<CAPTION>
                                                     1995          1994            1993    
                                                 ------------  ------------    ----------- 
     <S>                                        <C>           <C>              <C>         
     Balance at beginning of period. . . . . .    $98,660,035    98,520,414      97,795,042
     Additions during period . . . . . . . . .        280,626       139,621         725,372
     Provision for value impairment (note 2(b))    (8,200,000)        --             --    
                                                  -----------   -----------     -----------

     Balance at end of period. . . . . . . . .    $90,740,661    98,660,035      98,520,414
                                                  ===========   ===========     ===========

(D)  Reconciliation of accumulated depreciation:

     Balance at beginning of period. . . . . .    $14,115,282    11,626,188       9,149,275
     Depreciation expense. . . . . . . . . . .      2,468,066     2,489,094       2,476,913
                                                  -----------   -----------     -----------

     Balance at end of period. . . . . . . . .    $16,583,348    14,115,282      11,626,188
                                                  ===========   ===========     ===========


</TABLE>



ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING 
         AND FINANCIAL DISCLOSURE

     There were no changes of, or disagreements with, accountants during
fiscal years 1995 and 1994.



                           PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE PARTNERSHIP

     The Managing General Partner of the Partnership is JMB Realty
Corporation ("JMB"), a Delaware Corporation, substantially all of the
outstanding stock of which is owned, directly or indirectly, by certain of
its officers and directors and members of their families.  JMB has
responsibility for all aspects of the Partnership's operations, subject to
the requirement that purchases and sales of real property must be approved
by AGPP Associates, L.P. as Associate General Partner.  Effective December
31, 1995, AGPP Associates, L.P. acquired the general partnership interest
in the Partnership of an Associate General Partner, Income Associates-XIII,
L.P. (which constituted substantially all of the assets of Income
Associates-III, L.P.).  AGPP Associates, L.P., an Illinois limited
partnership, with JMB as its sole general partner, continues as an
Associate General Partner.  AGPP Associates, L.P. shall be directed by a
majority in interest of its limited partners (who are generally officers,
directors and affiliates of JMB or its affiliates) as to whether to provide
its approval of any sale of real property (or any interest therein) of the
Partnership.  AGPP Associates, L.P. is also the sole general partner of
Income Partners-XIII, an Illinois limited partnership, that is the other
Associate General Partner of the Partnership.

     The Partnership is subject to certain conflicts of interest arising
out of its relationships with the General Partners and their affiliates as
well as the fact that the General Partners and their affiliates are engaged
in a range of real estate activities.  Certain services have been and may
in the future be provided to the Partnership or its investment properties
by affiliates of the General Partners, including property management
services and insurance brokerage services.  In general, such services are
to be provided on terms no less favorable to the Partnership than could be
obtained from independent third parties and are otherwise subject to
conditions and restrictions contained in the Partnership Agreement.  The
Partnership Agreement permits the General Partners and their affiliates to
provide services to, and otherwise deal and do business with, persons who
may be engaged in transactions with the Partnership, and permits the
Partnership to borrow from, purchase goods and services from, and otherwise
to do business with, persons doing business with the General Partners or
their affiliates.  The General Partners and their affiliates may be in
competition with the Partnership under certain circumstances, including, in
certain geographical markets, for tenants for properties and/or for the
sale of properties.  Because the timing and amount of cash distributions
and profits and losses of the Partnership may be affected by various
determinations by the General Partners under the Partnership Agreement,
including whether and when to sell or refinance a property, the
establishment and maintenance of reasonable reserves, the timing of
expenditures and the allocation of certain tax items under the Partnership
Agreement, the General Partners may have a conflict of interest with
respect to such determinations.

     The names, positions held and length of service therein of each
director and the executive and certain other officers of the Managing
General Partner of the Partnership are as follows:



                                                 SERVED IN 
NAME                  OFFICE                     OFFICE SINCE
----                  ------                     ------------

Judd D. Malkin        Chairman                    5/03/71
                      Director                    5/03/71
                      Chief Financial Officer     2/22/96
Neil G. Bluhm         President                   5/03/71
                      Director                    5/03/71
Burton E. Glazov      Director                    7/01/71
Stuart C. Nathan      Executive Vice President    5/08/79
                      Director                    3/14/73
A. Lee Sacks          Director                    5/09/88
John G. Schreiber     Director                    3/14/73
H. Rigel Barber       Chief Executive Officer     8/01/93
                      Executive Vice President    1/02/87
Glenn E. Emig         Executive Vice President    1/01/93
                      Chief Operating Officer     1/01/95
Gary Nickele          Executive Vice President    1/01/92
                      General Counsel             2/27/84
Gailen J. Hull        Senior Vice President       6/01/88
Howard Kogen          Senior Vice President       1/02/86
                      Treasurer                   1/01/91

     There is no family relationship among any of the foregoing directors
or officers.  The foregoing directors have been elected to serve a one-year
term until the annual meeting of the Managing General Partner to be held on
June 5, 1996.  All of the foregoing officers have been elected to serve
one-year terms until the first meeting of the Board of Directors held after
the annual meeting of the Managing General Partner to be held on June 5,
1996.  There are no arrangements or understandings between or among any of
said directors or officers and any other person pursuant to which any
director or officer was elected as such.

     JMB is the corporate general partner of Carlyle Real Estate Limited
Partnership-VII ("Carlyle-VII"), Carlyle Real Estate Limited Partnership-IX
("Carlyle-IX"), Carlyle Real Estate Limited Partnership-X ("Carlyle-X"),
Carlyle Real Estate Limited Partnership-XI ("Carlyle-XI"), Carlyle Real
Estate Limited Partnership-XII ("Carlyle-XII"), Carlyle Real Estate Limited
Partnership-XIII ("Carlyle-XIII"), Carlyle Real Estate Limited
Partnership-XIV ("Carlyle-XIV"), Carlyle Real Estate Limited Partnership-XV
("Carlyle-XV"), Carlyle Real Estate Limited Partnership-XVI ("Carlyle-
XVI"), Carlyle Real Estate Limited Partnership-XVII ("Carlyle-XVII"), JMB
Mortgage Partners, Ltd. ("Mortgage Partners"), JMB Mortgage Partners,
Ltd.-II ("Mortgage Partners-II"), JMB Mortgage Partners, Ltd.-III
("Mortgage Partners-III"), JMB Mortgage Partners, Ltd.-IV ("Mortgage
Partners-IV"), Carlyle Income Plus, Ltd. ("Carlyle Income Plus") and
Carlyle Income Plus, Ltd.-II ("Carlyle Income Plus-II") and the managing
general partner of JMB Income Properties, Ltd.-IV ("JMB Income-IV"), JMB
Income Properties, Ltd.-V ("JMB Income-V"), JMB Income Properties, Ltd.-VI
("JMB Income-VI"), JMB Income Properties, Ltd.-VII ("JMB Income-VII"), JMB
Income Properties, Ltd.-IX ("JMB Income-IX"), JMB Income Properties, Ltd.-X
("JMB Income-X"), JMB Income Properties, Ltd.-XI ("JMB Income-XI") and JMB
Income Properties, Ltd.-XII ("JMB Income-XII").  JMB is also the sole
general partner of the associate general partner of most of the foregoing
partnerships.

     Most of the foregoing directors and officers are also officers and/or
directors of various affiliated companies of JMB including Arvida/JMB
Managers, Inc. (the general partner of Arvida/JMB Partners, L.P.
("Arvida")), Arvida/JMB Managers-II, Inc. (the general partner of
Arvida/JMB Partners, L.P.-II ("Arvida-II") and Income Growth Managers, Inc.
(the corporate general partner of IDS/JMB Balanced Income Growth, Ltd.
("IDS/BIG")).  Most of such directors and officers are also partners of
certain partnerships which are associate general partners in the following
real estate limited partnerships:  Carlyle-VII, Carlyle-IX, Carlyle-X,
Carlyle-XI, Carlyle-XII, Carlyle-XIII, Carlyle-XIV, Carlyle-XV,
Carlyle-XVI, Carlyle-XVII, JMB Income-VI, JMB Income-VII, JMB Income-IX,
JMB Income-X, JMB Income-XI, JMB Income-XII, Mortgage Partners, Mortgage


Partners-II, Mortgage Partners-III, Mortgage Partners-IV, Carlyle Income
Plus, Carlyle Income Plus-II and IDS/BIG.

     The business experience during the past five years of each such
director and officer of the Managing General Partner of the Partnership in
addition to that described above is as follows:

     Judd D. Malkin (age 58) is an individual general partner of JMB
Income-IV and JMB Income-V.  Mr. Malkin has been associated with JMB since
October, 1969.  Mr. Malkin is a director of Urban Shopping Centers, Inc.,
an affiliate of JMB that is a real estate investment trust in the business
of owning, managing and developing shopping centers.  He is a Certified
Public Accountant.

     Neil G. Bluhm (age 58) is an individual general partner of JMB
Income-IV and JMB Income-V.  Mr. Bluhm has been associated with JMB since
August, 1970.  Mr. Bluhm is a director of Urban Shopping Centers, Inc., an
affiliate of JMB that is a real estate investment trust in the business of
owning, managing and developing shopping centers.  He is a member of the
Bar of the State of Illinois and a Certified Public Accountant.

     Burton E. Glazov (age 57) has been associated with JMB since June,
1971 and served as an Executive Vice President of JMB until December of
1990.  He is a member of the Bar of the State of Illinois and a Certified
Public Accountant.

     Stuart C. Nathan (age 54) has been associated with JMB since July,
1972.  Mr. Nathan is also a director of Sportmart Inc., a retailer of
sporting goods.  He is a member of the Bar of the State of Illinois.

     A. Lee Sacks (age 62) (President and Director of JMB Insurance Agency,
Inc.) has been associated with JMB since December, 1972.

     John G. Schreiber (age 49) has been associated with JMB since
December, 1970 and served as an Executive Vice President of JMB until
December 1990.  Mr. Schreiber is President of Schreiber Investments, Inc.,
a company which is engaged in the real estate investing business.  He is
also a senior advisor and partner of Blackstone Real Estate Partners, an
affiliate of the Blackstone Group, L.P.  Since 1994, Mr. Schreiber has also
served as a Trustee of Amli Residential Property Trust, a publicly-traded
real estate investment trust that invests in multi-family properties.  Mr.
Schreiber is a director of Urban Shopping Centers, Inc. an affiliate of JMB
that is a real estate investment trust in the business of owning, managing
and developing shopping centers.  He is also a director of a number of
investment companies advised or managed by T. Rowe Price Associates and its
affiliates.  He holds a Masters degree in Business Administration from
Harvard University Graduate School of Business.

     H. Rigel Barber (age 46) has been associated with JMB since March,
1982. He holds a J.D. degree from the Northwestern Law School and is a
member of the Bar of the State of Illinois.

     Glenn E. Emig (age 48) has been associated with JMB since December,
1979.  Prior to becoming Executive Vice President of JMB in 1993, Mr. Emig
was Executive Vice President and Treasurer of JMB Institutional Realty
Corporation.  He holds a Masters Degree in Business Administration from the
Harvard University Graduate School of Business and is a Certified Public
Accountant.

     Gary Nickele (age 43) has been associated with JMB since February,
1984.  He holds a J.D. degree from the University of Michigan Law School
and is a member of the Bar of the State of Illinois.

     Gailen J. Hull (age 47) has been associated with JMB since March,
1982.  He holds a Masters degree in Business Administration from Northern
Illinois University and is a Certified Public Accountant.

     Howard Kogen (age 60) has been associated with JMB since March, 1973. 
He is a Certified Public Accountant.


ITEM 11.  EXECUTIVE COMPENSATION

     The officers and director of the Managing General Partner receive no
current or proposed direct remuneration in such capacities.  Pursuant to
the Partnership Agreement, the General Partners of the Partnership are
entitled to receive a share of cash distributions, when and as cash
distributions are made to the Investors, and a share of profits or losses.
Reference is also made to Notes 5 and 9 for a description of such
transactions, distributions and allocations.  In 1995, 1994 and 1993, the
General Partners received cash distributions in the amount of $156,067,
$141,879 and $141,879, respectively.  As of December 31, 1995, the General
Partners have deferred payment of distributions in the aggregate amount of
approximately $4,788,000.

     The General Partners of the Partnership may be reimbursed for their
direct expenses relating to the offering, the administration of the
Partnership and the operation of the Partnership's real property
investments.  In 1995, an affiliate of the General Partners was due
reimbursement for such out-of-pocket expenses in the amount of $137,851, of
which $55,300 was unpaid as of December 31, 1995.

     The General Partners may be reimbursed for salaries and salary-related
direct expenses of officers and employees of the Managing General Partner
and its affiliates while directly engaged in the administration of the
Partnership and the operation of the Partnership's real property
investments.  In 1995, the Managing General Partner was due reimbursement
for such expenses in the amount of $148,021, all of which was paid at
December 31, 1995.

     Affiliates of the General Partners have provided property management
services for the Rivertree Court Shopping Center during 1995.  In 1995,
such affiliates earned aggregate property management fees amounting to
$103,838, of which $9,214 was unpaid as of December 31, 1995.

     Certain directors and officers of the General Partners have an equity
interest in a company that provided property management services for the
Adams/Wabash Self Park during 1995.  In 1995, such company earned aggregate
property management fees amounting to $177,011, all of which was paid at
December 31, 1995.

     JMB Insurance Agency, Inc., an affiliate of the Managing General
Partner of the Partnership, earned and received insurance brokerage
commissions in 1995 aggregating $9,986 in connection with the providing of
insurance coverage for certain of the real property investments of the
Partnership.  Such commissions are at rates set by insurance companies for
the classes of coverage provided.

     The Partnership is permitted to engage in various transactions
involving affiliates of the Managing General Partner of the Partnership.  
The relationship of the Managing General Partner (and its directors and
officers) to its affiliates is set forth in Item 10 above and Exhibit 21
hereto.



<TABLE>
<CAPTION>

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

     (a) No person or group is known by the Partnership to own beneficially more than 5% of the outstanding
Interests of the Partnership.

     (b) The Managing General Partner, its officers and directors and the Associate General Partners own the
following Interests of the Partnership:


                     NAME OF                        AMOUNT AND NATURE
                     BENEFICIAL                     OF BENEFICIAL                    PERCENT
TITLE OF CLASS       OWNER                          OWNERSHIP                        OF CLASS 
--------------       ----------                     -----------------                --------
<S>                  <C>                            <C>                              <C>
Limited Partnership 
  Interests          JMB Realty Corporation         5 Interests (1)                  Less than 1%
                                                    indirectly

Limited Partnership 
  Interests          Managing General Partner,      5 Interests (1)                  Less than 1%
                     its officers and               indirectly
                     directors and the 
                     Associate General Partners
                     as a group

<FN>
     (1)  Includes 5 Interests owned by the Initial Limited Partner of the Partnership for which JMB Realty
Corporation, as its indirect majority shareholder, is deemed to have sole investment and voting power.

     All of the outstanding shares of the Managing General Partner of the Partnership are owned by an affiliate of
its officers and directors as set forth above in Item 10.

     (c) There exists no arrangement, known to the Partnership, the operation of which may at a subsequent date
result in a change in control of the Partnership.

</TABLE>


ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     There were no significant transactions or business relationships with
the Managing General Partner, affiliates or their management other than
those described in Items 10 and 11 above.


                            PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

   (a)  The following documents are filed as part of this report:

     (1)   Financial Statements (See Index to Financial Statements filed
with this annual report).

     (2)   Exhibits.

        3-A.  The Prospectus of the Partnership dated August 20, 1986
as supplemented October 31, 1986 and January 26, 1987 as filed with the
Commission pursuant to Rules 424(b) and 424(c) is hereby incorporated
herein by reference.  Copies of pages 8-19, 64-70, A-7 to A-16, A-34 to A-
35 of the Prospectus are hereby incorporated by reference to Exhibit 3-A to
the Partnership's Form 10-K dated March 18, 1993.

        3-B.  Amended and Restated Agreement of Limited Partnership set
forth as Exhibit A to the Prospectus, which is hereby incorporated by
reference to Exhibit 3-B to the Partnership's From 10-K dated March 18,
1993.

        4-A.  Copy of documents relating to the mortgage loan secured
by the Rivertree Court Shopping Center, Vernon Hills (Chicago), Illinois
dated December 30, 1988 is hereby incorporated by reference to Exhibit 4-A
to the Partnership's Form 10-K dated March 18, 1993.

        4-B.  Copy of documents relating to the mortgage loan secured
by a first mortgage on West Dade's interest in Miami International Mall,
Miami, Florida dated December 21, 1993 incorporated herein by reference to
Exhibit 4-B to the Partnership's Report for December 31, 1993 on Form 10-K
(File No. 000-19496) dated March 24, 1994.

        4-C.  Modification document relating to the mortgage loan
secured by the First Financial Plaza Office Building in Encino, California,
a copy of which is filed herewith.

        10-A. Acquisition documents relating to the purchase by the
Partnership of Rivertree Court Shopping Center in Vernon Hills (Chicago),
Illinois, are hereby incorporated by reference to Exhibit 1 to the
Partnership's Form 8-K dated November 4, 1988.

        10-B. Acquisition documents relating to the purchase by the
Partnership of Fountain Valley Industrial Buildings in Fountain Valley,
California and Cerritos Industrial Buildings in Cerritos, California, are
hereby incorporated by reference to Exhibits 1 and 2 to the Partnership's
Form 8-K dated November 15, 1988.

        10-C. Acquisition documents relating to the acquisition by the
Partnership of an interest in the Adams/Wabash Parking Garage in Chicago,
Illinois are hereby incorporated by reference to Exhibit 3 to the
Partnership's Form 8-K dated October 15, 1990.



        10-D. Sale documents and exhibits thereto relating to the sale
of the Partnership's interest in Mid Rivers Mall in St. Peters (St. Louis),
Missouri are hereby incorporated by reference to the Partnership's Report
on Form 8-K dated February 18, 1992.

        21.   List of Subsidiaries.

        24.   Powers of Attorney

        27.   Financial Data Schedule

   Although certain long-term debt instruments of the Registrant have been
excluded from Exhibit 4 above, pursuant to Rule (b)(4)(iii), the
Registrants commits to provide copies of such agreements to the Securities
and Exchange Commission upon request.

   (b)  No reports on Form 8-K were required to be filed during the last
quarter of the period covered by this annual report.

   No annual report or proxy material for the fiscal year 1995 has been
sent to the Partners of the Partnership.  An annual report will be sent to
the Partners subsequent to this filing.



                          SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Act of 1934, the Partnership has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.

           JMB INCOME PROPERTIES, LTD. - XIII

           By:     JMB Realty Corporation
                   Managing General Partner


                   GAILEN J. HULL
           By:     Gailen J. Hull
                   Senior Vice President
           Date:   March 25, 1996

     Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.

           By:     JMB Realty Corporation
                   Managing General Partner

                   JUDD D. MALKIN*
           By:     Judd D. Malkin, Chairman and 
                   Chief Financial Officer
           Date:   March 25, 1996

                   NEIL G. BLUHM*
           By:     Neil G. Bluhm, President and Director
           Date:   March 25, 1996

                   H. RIGEL BARBER*
           By:     H. Rigel Barber, Chief Executive Officer
           Date:   March 25, 1996

                   GLENN E. EMIG*
           By:     Glenn E. Emig, Chief Operating Officer
           Date:   March 25, 1996


                   GAILEN J. HULL
           By:     Gailen J. Hull, Senior Vice President
                   Principal Accounting Officer
           Date:   March 25, 1996

                   A. LEE SACKS*
           By:     A. Lee Sacks, Director
           Date:   March 25, 1996

                   STUART C. NATHAN*
           By:     Stuart C. Nathan, Executive Vice President
                     and Director
           Date:   March 25, 1996

           *By:    GAILEN J. HULL, Pursuant to a Power of Attorney


                   GAILEN J. HULL
           By:     Gailen J. Hull, Attorney-in-Fact
           Date:   March 25, 1996


              JMB INCOME PROPERTIES, LTD. - XIII

                         EXHIBIT INDEX

                                              DOCUMENT
                                            INCORPORATED
                                            BY REFERENCE PAGE
                                            ------------ ----

3-A.     Pages 8-19, 64-70, A-7 to A-16, 
         A-34 to A-35 of the Prospectus 
         of the Partnership dated August 20, 
         1986, as supplemented on October 31, 
         1986, and January 26, 1987        Yes           --

3-B.     Amended and Restated Agreement of
         Limited Partnership               Yes           --

4-A.     Mortgage loan agreement related to
         the Rivertree Court Shopping CenterYes          --

4-B.     Mortgage loan agreement related to
         West Dade                         Yes           --

4-C.     Mortgage loan modification 
         documents related to First
         Financial Plaza Office Building   No 

10-A.    Acquisition documents relating to
         the Rivertree Court Shopping CenterYes          --

10-B.    Acquisition documents relating to
         the Fountain Valley Industrial 
         Buildings and Cerritos Industrial
         Buildings                         Yes           --

10-C.    Acquisition documents relating to
         the Adams/Wabash Parking Garage   Yes           --

10-D.    Sale documents relating to the 
         Mid Rivers Mall                   Yes           --

21.      List of Subsidiaries              No 

24.      Powers of Attorney                No 

27.      Financial Data Schedule           No