UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the
    Securities Exchange Act of 1934

    For the quarterly period ended   September 30, 2005
                                 or
[ ]Transition Report Pursuant to Section 13 or 15(d) of the
   Securities Exchange Act of 1934

    For the transition period from ___________ to____________

    Commission File Number _____0-13402_______________

    __________Brauvin Real Estate Fund L.P. 4_______________
    (Name of small business issuer as specified in its charter)

               Delaware                      36-3304339________
(State or other jurisdiction of          (I.R.S. Employer
     incorporation or organization)    Identification No.)

    30 North LaSalle Street, Chicago, Illinois        60602____
     (Address of principal executive offices)      (Zip Code)

          _______________(312)759-7660_________________________
                  (Issuer's telephone number)

    Securities registered pursuant to Section 12(b) of the Act:
    Title of each class              Name of each exchange on
                                           which registered
               None                             None___________

    Securities registered pursuant to Section 12(g) of the Act:
    ___________Limited Partnership Interests________________
                        (Title of class)

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



                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)


                              INDEX

                             PART I
                                                           Page

Item 1.   Financial Statements                               3

          Statement of Net Assets in Liquidation
          as of September 30, 2005(Liquidation Basis)        4

          Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2005 to
          September 30, 2005 (Liquidation Basis)             5

          Statement of Changes in Net Assets
          in Liquidation for the period January 1, 2004 to
          September 30, 2004 (Liquidation Basis)             6

          Statements of Operations for the
          nine months ended September 30, 2005 and 2004
          (Liquidation Basis)                                7

          Statements of Operations for the
          three months ended September 30, 2005 and 2004
          (Liquidation Basis)                                8

          Notes to Financial Statements                      9

Item 2.   Management's Discussion and Analysis or Plan
          of Operation                                      22

Item 3.   Controls and Procedures                           30

                             PART II

Item 1.   Legal Proceedings                                 31

Item 2.   Changes in Securities                             31

Item 3.   Defaults Upon Senior Securities                   31

Item 4.   Submission of Matters to a Vote of Security
          Holders                                           31

Item 5.   Other Information                                 31

Item 6.   Exhibits, and Reports on Form 8-K                 31

Signatures                                                  32



                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



                 PART I - FINANCIAL INFORMATION

ITEM 1.   Financial Statements

 The  following  Statement of Net Assets  in  Liquidation  as  of
September  30, 2005 (Liquidation Basis), Statement of Changes  in
Net  Assets  in  Liquidation for the period January  1,  2005  to
September  30, 2005 (Liquidation Basis), Statement of Changes  in
Net  Assets  in  Liquidation for the period January  1,  2004  to
September  30, 2004 (Liquidation Basis), Statements of Operations
for   the   nine  months  ended  September  30,  2005  and   2004
(Liquidation Basis), and Statements of Operations for  the  three
months ended September 30, 2005 and 2004 (Liquidation Basis)  for
Brauvin Real Estate Fund L.P. 4 (the "Partnership") are unaudited
but  reflect,  in the opinion of the management, all  adjustments
necessary to present fairly the information required.   All  such
adjustments are of a normal recurring nature.

 These  financial  statements should be read in conjunction  with
the  financial  statements  and notes  thereto  included  in  the
Partnership's 2004 Annual Report on Form 10-KSB.



                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)


          STATEMENT OF NET ASSETS IN LIQUIDATION AS OF
             SEPTEMBER 30, 2005 (LIQUIDATION BASIS)
                           (Unaudited)

ASSETS

Real estate held for sale                     $6,026,500
Investment in Sabal
  Joint Venture (Note 6)                         292,841
Cash and cash equivalents                         25,144
Tenant receivables                                20,098
Utility deposits                                   2,370
Other assets                                      29,136
                                              ----------
  Total Assets                                 6,396,089
                                              ----------
LIABILITIES

Mortgage notes payable (Note 4)                3,924,567
Accounts payable and accrued expenses            187,614
Deferred gain on sale of real estate (Note 2)    464,312
Reserve for estimated costs during
  the period of liquidation                      157,125
Tenant security deposits                          15,812
Due to affiliates                                  5,458
                                              ----------
  Total Liabilities                            4,754,888
                                              ----------
Net Assets in Liquidation                     $1,641,201
                                              ==========








         See accompanying notes to financial statements.




                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)


      STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION FOR
        THE PERIOD JANUARY 1, 2005 TO SEPTEMBER 30, 2005
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net assets in liquidation at January 1, 2005         $1,824,095

Loss from operations                                   (182,894)
                                                     ----------
Net assets in liquidation at September 30, 2005      $1,641,201
                                                     ==========









         See accompanying notes to financial statements.





                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



      STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION FOR
        THE PERIOD JANUARY 1, 2004 TO SEPTEMBER 30, 2004
                       (LIQUIDATION BASIS)
                           (Unaudited)



Net  assets in liquidation at January 1, 2004         $1,880,062

Income  from operations                                  357,239
                                                      ----------
Net  assets in liquidation at September 30, 2004      $2,237,301
                                                      ==========








         See accompanying notes to financial statements.



                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



                    STATEMENTS OF OPERATIONS
      FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
                       (LIQUIDATION BASIS)
                           (Unaudited)

                              2005           2004
                            ---------     ----------
INCOME
Rental                      $ 550,650     $  427,340
Lease termination fee              --      1,400,000
Interest                          801          1,279
Other, primarily tenant
  expense reimbursements      110,994        114,744
                            ---------     ----------
  Total income                662,445      1,943,363
                            ---------     ----------
EXPENSES
Interest                      328,743        313,054
Real estate taxes              90,134         98,150
Repairs and maintenance        18,766          7,422
Management fees (Note 5)       39,217        116,963
Other property operating       32,062         30,570
General and administrative    322,036        947,519
                            ---------     ----------
  Total expenses              830,958      1,513,678
                            ---------     ----------
(Loss) income before
  equity interests           (168,513)       429,685

Equity interest in Sabal
  Palm Joint Venture's
  net loss                    (14,381)       (72,446)
                            ---------     ----------
Net (loss) income           $(182,894)    $  357,239
                            =========     ==========
Net (loss) income allocated
  to the General Partners   $  (1,829)    $    3,572
                            =========     ==========
Net (loss) income allocated
  to the Limited Partners   $(181,065)    $  353,667
                            =========     ==========
Net (loss) income per
  Limited Partnership
  Interest (9,550 units
  outstanding)              $  (18.96)    $   37.03
                            =========     =========



         See accompanying notes to financial statements.



                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



                    STATEMENTS OF OPERATIONS
     FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
                       (LIQUIDATION BASIS)
                           (Unaudited)

                               2005           2004
                             --------      ----------
INCOME
Rental                       $185,533     $  119,952
Lease termination fee              --      1,400,000
Interest                           28            625
Other, primarily tenant
  expense reimbursements       41,089         39,656
                             --------     ----------
  Total income                226,650      1,560,233
                             --------     ----------
EXPENSES
Interest                      128,462        104,989
Real estate taxes              30,310         32,716
Repairs and maintenance        12,565          2,833
Management fees (Note 5)       13,186         97,267
Other property operating        9,593          9,534
General and administrative     51,973        839,193
                             --------     ----------
  Total expenses              246,089      1,086,532
                             --------     ----------
(Loss) income before
  equity interests            (19,439)       473,701

Equity interest in Sabal
  Palm Joint Venture's
  net income (loss)            21,305       (41,510)
                             --------     ---------
Net income                   $  1,866     $ 432,191
                             ========     =========
Net income allocated
  to the General Partners    $     19     $   4,322
                             ========     =========
Net income allocated
  to the Limited Partners    $  1,847     $ 427,869
                             ========     =========
Net income per
  Limited Partnership
  Interest (9,550 units
  outstanding)               $   0.19     $   44.80
                             ========     =========





         See accompanying notes to financial statements.





                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)

                   NOTES TO FINANCIAL STATEMENTS
                           (Unaudited)

(1)  ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   The  financial statements consolidate the accounts of  Brauvin
Real Estate Fund L.P. 4 (the "Partnership") and a 47% interest in
another  joint venture, which is accounted for using  the  equity
method of accounting.

   The  Partnership  is a Delaware limited partnership  organized
for  the  purpose of acquiring, operating, holding for investment
and  disposing  of  existing  office  buildings,  medical  office
centers,  shopping  centers and industrial and retail  commercial
buildings of a general purpose nature, all in metropolitan areas.
The  General  Partners of the Partnership are  Brauvin  Ventures,
Inc.  and Jerome J. Brault.  Mr. Cezar M. Froelich resigned as  a
director  of the corporate general partner in December 1994,  and
resigned as an Individual General Partner effective 90 days  from
August 14, 1997. Brauvin Ventures, Inc. is owned by A.G.E. Realty
Corporation Inc.(50%), and by Messrs. Brault (beneficially) (25%)
and  Froelich  (25%).   A. G. Edwards & Sons,  Inc.  and  Brauvin
Securities,  Inc., affiliates of the General Partners,  were  the
selling agents of the Partnership.  The Partnership is managed by
an affiliate of the General Partners.

   The  General  Partners of the Partnership filed a Registration
Statement   on  Form  S-11  with  the  Securities  and   Exchange
Commission which became effective on February 16, 1984.  The sale
of  the minimum of $1,200,000 of limited partnership interests of
the  Partnership (the "Units") necessary for the  Partnership  to
commence  operations  was achieved on  April  30,  1984  and  the
Partnership  was  formed.  The Partnership's offering  closed  on
December  31,  1984.   A  total  of  $9,550,000  of  Units   were
subscribed and issued between February 16, 1984 and December  31,
1984 pursuant to the Partnership's public offering.

   Properties  acquired  by the Partnership  either  directly  or
indirectly  through affiliated joint ventures were:  (a)  Fortune
Professional Building (which was sold February 2003); (b) Raleigh
Springs  Marketplace; (c) Strawberry Fields Shopping Center(which
was  sold in July 2001 and terminated in 2002) and (d) Sabal Palm
Shopping Center.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   Management's Use of Estimates

   The  preparation  of financial statements in  conformity  with
generally  accepted accounting principles requires management  to
make  estimates and assumptions that affect the reported  amounts
of assets and liabilities and disclosure of contingent 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.

   Basis of Presentation

   As  a  result of the July 12, 1999 authorization by a majority
of the Limited Partners to sell the Partnership's properties, the
Partnership has begun the liquidation process and, in  accordance
with  generally accepted accounting principles, the Partnership's
financial statements for periods subsequent to July 12, 1999 have
been   prepared   on   the  liquidation  basis   of   accounting.
Accordingly, the carrying values of assets are presented at their
net realizable amounts and liabilities are presented at estimated
settlement  amounts,  including estimated costs  associated  with
carrying  out  the  liquidation.  Preparation  of  the  financial
statements   on   a   liquidation  basis   requires   significant
assumptions  by management, including the estimate of liquidation
costs  and  the resolution of any contingent liabilities.   There
may be differences between the assumptions and the actual results
because  events  and circumstances frequently  do  not  occur  as
expected.  Those differences, if any, could result in a change in
the  net  assets recorded in the statement of net  assets  as  of
September 30, 2005.

   Accounting Method

   The  accompanying consolidated financial statements have  been
prepared using the accrual method of accounting.

   Tenant Receivables

   Tenant   receivables  are  comprised   of   (a)   billed   but
uncollected  amounts due for monthly rents and other charges  and
(b)  estimated  unbilled amounts due for tenant reimbursement  of
common  area maintenance charges and property taxes.  Receivables
are  recorded at management's estimate of the amounts  that  will
ultimately  be collected. An allowance for doubtful  accounts  of
$50,992  is  based  on specific identification  of  uncollectible
accounts and the Partnership's historical collection experience.

   Federal Income Taxes

   Under  the  provisions  of  the  Internal  Revenue  Code,  the
Partnership's income and losses are reportable by the partners on
their  respective income tax returns.  Accordingly, no  provision
is made for Federal income taxes in the financial statements.

   Investment in Joint Venture Partnership

   The  Partnership  owns  a 47% equity interest  in  Sabal  Palm
Joint  Venture  (see  Note 6).  Sabal  Palm  is  reported  as  an
investment  in  an  affiliated joint venture.   The  accompanying
financial  statements include the investment in Sabal Palm  Joint
Venture at estimated net realizable value using the equity method
of accounting.

   Investment in Real Estate

   Prior  to the preparation of the financial statements  on  the
liquidation   basis  of  accounting,  the  operating   properties
acquired  by  the  Partnership  were  stated  at  cost  including
acquisition  costs, leasing commissions, tenant improvements  and
net  of  impairment. Depreciation and amortization  expense  were
computed  on a straight-line basis over approximately 31.5  years
and  the term of the applicable leases, respectively.  All of the
Partnership's  properties  were  subject  to  liens  under  first
mortgages (see Note 4).

   Subsequent  to  the  adoption  of  the  liquidation  basis  of
accounting  (see Note 2), the Partnership adjusted its investment
in  real  estate  to  estimated net realizable  value,  which  is
recorded  as  real  estate  held  for  sale.   Additionally,  the
Partnership suspended recording any further depreciation expense.


   The  Partnership has adopted Statement of Financial Accounting
Standards  No. 141, "Business Combinations" ("SFAS  141").   SFAS
141  requires  the  purchase method of  accounting  for  business
combinations  initiated after June 30, 2001  and  eliminates  the
pooling-of-interests  method.  In  July  2001,  the  FASB  issued
Statement  of  Financial Accounting Standards No. 142,  "Goodwill
and  Other  Intangible Assets" ("SFAS 142"), which  is  effective
January  1,  2002.   SFAS 142 requires, among other  things,  the
discontinuance  of  goodwill  amortization.   In  addition,   the
standard includes provisions for the reclassification of  certain
existing  intangibles,  reassessment  of  the  useful  lives   of
existing intangibles, reclassification of certain intangibles out
of   previously  reported  goodwill  and  the  identification  of
reporting  units  for  purposes  of  assessing  potential  future
impairments of goodwill.

   Application of the statements to future acquisitions, if  any,
could  result in the recognition, upon acquisition of  additional
intangible assets (acquired in-place lease origination costs  and
acquired  above  market leases) and liabilities  (acquired  below
market leases), which would be amortized over the remaining terms
of the acquired leases.

   The  Partnership has adopted Statement of Financial Accounting
Standards No. 144, "Accounting for the Impairment or Disposal  of
Long-Lived   Assets"  ("SFAS  144").   SFAS   144   retains   the
recognition and measurement requirements of its predecessor,  but
resolves  significant  implementation issues.   In  addition,  it
applies  to  a  segment  of  a  business  accounted  for   as   a
discontinued operation.

   SFAS   144   has   not  had  a  significant  impact   on   the
Partnership's financial statements.

   Cash and Cash Equivalents

   Cash  and  cash  equivalents include all  highly  liquid  debt
instruments  with an original maturity within three  months  from
date of purchase.

   The  Partnership maintains its cash in bank deposit  accounts,
which,  at  times,  may  exceed federally  insured  limits.   The
Partnership  has  not experienced any losses  in  such  accounts.
Management  believes  the  Partnership  is  not  exposed  to  any
significant credit risk related to cash or cash equivalents.

   Estimated Fair Value of Financial Instruments

   Disclosure   of   the  estimated  fair  value   of   financial
instruments  is  made  in  accordance with  the  requirements  of
Statement of Financial Accounting Standards No. 107, "Disclosures
About  Fair Value of Financial Instruments".  The estimated  fair
value  amounts  have  been determined by using  available  market
information  and  appropriate valuation methodologies.   However,
considerable  judgement is necessarily required  in  interpreting
market data to develop estimates of fair value.

   The  fair  value  estimates  presented  herein  are  based  on
information available to management as of September 30, 2005, but
may  not  necessarily  be  indicative of  the  amounts  that  the
Partnership could realize in a current market exchange.  The  use
of different assumptions and/or estimation methodologies may have
a material effect on the estimated fair value amounts.

   In  connection with the adoption of the liquidation  basis  of
accounting, which approximates fair value at September 30,  2005,
assets  were  adjusted to net realizable value,  and  liabilities
were adjusted to estimated settlement amounts.

   Derivatives and Hedging Instruments

   In   June  1998,  the  Financial  Accounting  Standards  Board
("FASB")  issued Statement of Financial Accounting Standards  No.
133,   "Accounting   for  Derivative  Instruments   and   Hedging
Activities" ("SFAS 133"), which requires that all derivatives  be
recognized as assets and liabilities in the balance sheet and  be
measured at fair value.  SFAS 133 also requires changes  in  fair
value  of  derivatives  to be recorded  each  period  in  current
earnings or comprehensive income depending on the intended use of
the  derivatives.  In June, 2000, the FASB issued SFAS 138, which
amends  the  accounting and reporting standards of SFAS  133  for
certain derivatives and certain hedging activities.  SFAS 133 and
SFAS  138  were adopted by the Partnership effective  January  1,
2001.  The Partnership had no derivatives in 2005 and 2004.

   Recent Accounting Pronouncements

     In   January  2003,  FASB  issued  interpretation  No.   46,
"Consolidation of Variable Interest Entities" (FIN  46).  FIN  46
addresses  consolidation  by  business  enterprises  of   certain
variable interest entities in which the equity investors  do  not
have  the characteristics of a controlling financial interest  or
do  not  have sufficient equity at risk for the entity to finance
its  activities without additional subordinated financial support
from  other parties.  This interpretation was revised in December
2003  and  for  calendar year end entities, is  effective  as  of
December  31,  2003.  The Partnership does not own  any  "special
purpose entities."

   In  May  2003,  FASB issued Statement of Financial  Accounting
Standards  No. 150, "Accounting for Certain Financial Instruments
with  the Characteristics of both Liabilities and Equity"  ("SFAS
150"),  which is effective for all financial instruments  entered
into  or  modified after May 31, 2003, and is otherwise effective
beginning July 1, 2003.  SFAS 150 establishes standards  for  how
an  entity  classifies and measures certain financial instruments
with characteristics of both liabilities and equity.

   The  adoption of SFAS 150 and FIN 46 has not had a significant
impact on the Partnership's financial statements.


(2) ADJUSTMENT TO LIQUIDATION BASIS

   On  July 12, 1999, in accordance with the liquidation basis of
accounting,  assets  were  adjusted to estimated  net  realizable
value  and  liabilities  were adjusted  to  estimated  settlement
amounts,  including estimated costs associated with carrying  out
the liquidation.


(3)  PARTNERSHIP AGREEMENT

   The  Partnership Agreement (the "Agreement") provides that 99%
of  the net profits and losses from operations of the Partnership
for  each  fiscal year shall be allocated to the Limited Partners
and  1%  of  net  profits  and losses from  operations  shall  be
allocated  to  the  General Partners.   The  net  profit  of  the
Partnership  from the sale or other disposition of a  Partnership
property  shall be allocated as follows:  first, there  shall  be
allocated to the General Partners the greater of:  (i) 1% of such
net  profits;  or (ii) the amount distributable  to  the  General
Partners as Net Sale Proceeds from such sale or other disposition
in  accordance with paragraph 2, section K of the Agreement;  and
second,  all remaining profits shall be allocated to the  Limited
Partners.  The net loss of the Partnership from any sale or other
disposition  of  a  Partnership property shall  be  allocated  as
follows:  99% of such net loss shall be allocated to the  Limited
Partners  and  1%  of  such net loss shall be  allocated  to  the
General Partners.

   The  Agreement  provides that distributions of Operating  Cash
Flow,  as defined in the Agreement, shall be distributed  99%  to
the Limited Partners and 1% to the General Partners.  The receipt
by  the General Partners of such 1% of Operating Cash Flow  shall
be  subordinated  to  the  receipt by  the  Limited  Partners  of
Operating  Cash  Flow  equal  to a  10%  per  annum,  cumulative,
non-compounded   return   on  their  Adjusted   Investment   (the
"Preferential  Distribution"), as such term  is  defined  in  the
Agreement.   In  the event the full Preferential Distribution  is
not  made  in  any  year (herein referred to as  a  "Preferential
Distribution Deficiency") and Operating Cash Flow is available in
following  years  in excess of the Preferential Distribution  for
said  year,  then the Limited Partners shall be paid such  excess
Operating  Cash  Flow  until  they  have  been  paid  any  unpaid
Preferential Distribution Deficiency from prior years.  Net  Sale
Proceeds,   as  defined  in  the  Agreement,  received   by   the
Partnership shall be distributed as follows:  (a) first,  to  the
Limited  Partners  until such time as the Limited  Partners  have
been  paid  an  amount  equal to the  amount  of  their  Adjusted
Investment; (b) second, to the Limited Partners until  such  time
as  the  Limited Partners have been paid an amount equal  to  any
unpaid  Preferential Distribution Deficiency; and (c) third,  85%
of  any remaining Net Sale Proceeds to the Limited Partners,  and
the  remaining  15%  of  the Net Sale  Proceeds  to  the  General
Partners.

   At   September   30,   2005,  the  Preferential   Distribution
Deficiency equaled $18,037,565.

(4)  MORTGAGE NOTES PAYABLE

   Mortgage  notes payable at September 30, 2005 consist  of  the
following:
                                    Interest     Date
                        Balance        Rate      Due
Raleigh Springs
  Marketplace          $ 3,924,567    10%       04/07


Maturities of the mortgage notes payable are as follows:

     2005               $   76,829
     2006                  219,646
     2007                3,628,092
                        ----------
                        $3,924,567
                        ==========

  Raleigh  Springs  Marketplace serves as  collateral  under  the
respective nonrecourse debt obligations.

Raleigh Springs Marketplace

    Monthly  principal and interest payments are based on  a  25-
year  amortization schedule.  In the first quarter of  2001,  the
mortgage  holder  agreed to extend the maturity of  the  mortgage
until April 1, 2002.  On March 11, 2002, the Partnership accepted
a  proposal  to  modify the Raleigh Springs Marketplace  mortgage
loan.   Under  the terms of the proposal, the maturity  date  was
extended  to  April 1, 2007.  The loan, which continues  to  bear
interest  at  10%  per  annum, requires monthly  installments  of
principal   and  interest  of  $46,839(based  upon  a   25   year
amortization  schedule) with a final payment of  unpaid  interest
and  principal  on  April 1, 2007.  Based on the  lenders  recent
approval  of the termination of the Toys "R" Us lease,  the  loan
will require additional lump sum principal payments of $8,500  on
or  before December 1, 2004 and then commencing December 1,  2005
annual  lump  sum  principal payments of $34,000.   The  carrying
value  of  Raleigh Springs Marketplace at September 30, 2005  was
approximately $6,026,500.

   In  the fourth quarter of 2004, the Partnership commenced  the
process of refinancing the existing debt.  Subsequent to December
31,  2004,  the Partnership received a proposal from a  potential
lender to refinance the existing debt as well as provide for  the
funding  of  additional improvement dollars for Raleigh  Springs.
This lender did not approve the proposal as originally submitted.
In  the second quarter of 2005, the Partnership executed a letter
of  intent with a national lender to refinance the existing  debt
and  to provide for additional tenant improvements.  The proposed
loan  requires  payments of interest only and has a  twenty  four
month   maturity.   The  lender  is  currently   completing   its
documentation  for the loan and the Partnership  anticipates  the
refinancing  to  be  completed in the  fourth  quarter  of  2005;
however,  there  can  be  no assurance the  Partnership  will  be
successful in completing the refinancing.

 (5) TRANSACTIONS WITH AFFILIATES

   Fees  and  other expenses incurred or payable to  the  General
Partners  or their affiliates for the nine months ended September
30, 2005 and 2004 were as follows:

                                   2005           2004
                                 -------        --------
Management fees                  $39,217        $116,963
Reimbursable office expenses      57,150          60,022

   As  of  September  30,  2005, the  Partnership  had  made  all
payments to affiliates except for $5,458 for management fees.

(6)  EQUITY INVESTMENT

   The  Partnership  owns  a 47% interest  in  Sabal  Palm  Joint
Venture ("Sabal Palm") and accounts for its investment under  the
equity method.

   The  following  are condensed financial statements  for  Sabal
Palm:


                        Liquidation Basis

                        September 30,2005

Real estate held for sale        $3,028,375
Other assets                        332,395
                                 ----------
                                  3,360,770
                                 ----------

Mortgage note payable             2,600,000
Other liabilities                   134,029
                                 ----------
                                  2,734,029
                                 ----------
Net assets in liquidation        $  626,741
                                 ==========

                        Liquidation Basis

             For the nine months ended September 30,

                                   2005             2004
                                 --------        ---------
Rental income                    $367,765        $ 310,359
Other income                       86,828           82,523
                                 --------        ---------
                                  454,593          392,882
                                 --------        ---------
Mortgage and
 other interest                   123,887           97,438
Operating and
 administrative expenses          361,303          449,584
                                 --------        ---------
                                  485,190          547,022
                                 --------        ---------
Net loss                         $(30,597)       $(154,140)
                                 ========        =========

  The original First Mortgage Loan bore interest at the rate  of
8.93% per annum, was to be amortized over a 25-year period, with
required   monthly  payments  of  principal  and   interest   of
approximately $26,700 and matured on March 26, 2002.  A  portion
of  the  proceeds  of  the  First Mortgage  Loan,  approximately
$3,077,000,  was  used to retire Sabal Palm's existing  mortgage
from Lincoln National Pension Insurance Company.  Subsequent  to
the  end of the first quarter of 2003, this loan was repaid  and
replaced with a new facility described below.

   On  August 7, 2000, Sabal Palm was given notice that Walgreens
will vacate the space prior to its lease termination of April 30,
2005.  Walgreens moved out, however, it remains liable for rental
payments  under its lease with Sabal Palm. The joint venture  and
Walgreens reached an agreement with a subtenant for the occupancy
of  this  space  through the initial term ending in  April  2005.
Subsequently, the joint venture entered into a new  direct  lease
with the replacement tenant for this space through June 30, 2007.

   In  the  second quarter of 1998, Winn-Dixie vacated its  space
at the center (which was approximately 42,000 square feet).  Winn-
Dixie failed to timely pay its rental obligation for November and
December 2001 and January through March 2002.

   As  a  result  of  Winn-Dixie's lease default,  in  the  third
quarter of 2001, Sabal Palm recorded an adjustment to liquidation
basis  of $114,367 related to an other than temporary decline  in
the value of real estate for Sabal Palm.

   In  the  fourth quarter of 2001, Sabal Palm recorded a further
adjustment  to liquidation basis of $7,508 related  to  an  other
than temporary decline in the value of real estate at Sabal Palm.

   Due  to  non-payment of Winn-Dixie's rental  obligations,  the
joint  venture did not make its mortgage payments for Sabal  Palm
in November and December 2001 and January through March 2002 thus
resulting  in  a default on its loan.  In April 2002,  the  joint
venture and the lender agreed to a twelve month extension of  the
existing  mortgage loan.  The loan extension was subject  to  the
lease  termination of Winn-Dixie and Winn-Dixie's  payment  of  a
$300,000 termination fee and payment of all past due amounts thus
curing the default.  As a requirement of the extension, the joint
venture  and  the  lender agreed to use  the  proceeds  from  the
termination  to redemize the former Winn-Dixie space  into  three
spaces as well as certain other improvements to the center.   The
joint  venture signed a lease with Sav A Lot, a national  grocery
chain, for 14,350 square feet (one of the demized spaces).  Sav A
Lot  took  occupancy of its space in October, 2002.  In addition,
in  the first quarter of 2004 the joint venture executed a  lease
with  Family  Dollar  (a  national discount  retailer)  to  lease
approximately  10,675 square feet (another  one  of  the  demized
spaces).   Family  Dollar  has taken  occupancy  in  the  center.
Separately,  the  Partnership  has  made  a  number  of  cosmetic
improvements to the center in preparation for its sale.  However,
the  property was recently damaged by two of the hurricanes  that
struck  the Palm Bay area in the third quarter of 2004  and  will
likely delay the sale of the property.  The property's damage was
primarily cosmetic and we do not believe the structural integrity
or  economic viability of the building has diminished.  Temporary
repair  work  has been completed.  However due to  the  extensive
damage elsewhere in the area, permanent repairs were not able  to
commence until the first quarter of 2005.

   On   March  17,  2003,  the  joint  venture  obtained  a  loan
commitment  from  AmSouth Bank in the amount of $3,250,000.   The
loan  proposal provides for payment of interest only  for  a  24-
month  term  subject to various tests to be met  at  a  six-month
period  from close and a nine-month period from close.  If  these
tests are not met the joint venture can be required to reduce the
principal  outstanding  by  a  cumulative  amount  ranging   from
$250,000 to $500,000 depending on the test.


  On  April  29, 2003, the Sabal Palm joint venture closed  on  a
$3,250,000 mortgage with AmSouth Bank (subject to a reduction not
to  exceed  $500,000 if certain conditions of the  loan  are  not
met).  The  joint  venture  repaid the  prior  outstanding  first
mortgage  loan  on  the  property in the  amount  of  $2,957,941,
accrued  interest  of $22,100 and paid loan  costs  and  fees  of
approximately  $46,100 at closing. The joint venture  expects  to
use  the  remaining proceeds primarily to finance certain  tenant
improvements and leasing costs.

  The  AmSouth  loan bears interest at LIBOR plus  2.85%  and  is
payable  interest only monthly until maturity (February 3,  2006)
at which time all unpaid interest and principal is due.  The loan
is  secured  by  a  first  mortgage  lien  on  the  property  and
collateral  assignment  of  rents  and  leases  as  well  as  the
management  agreement.  The partners of the  joint  venture  have
each  guaranteed  the  repayment of  50%  of  the  joint  venture
obligations under the loan documents and the manager  has  agreed
to  subordinate payment of the management fee to the  payment  of
the loan obligations.

  Additionally, the lender required that $1,000,000 in  aggregate
unencumbered liquid assets be maintained (but not pledged) during
the  term  of  the loan as well as requiring the Partnership  and
BREF  5 to maintain a minimum combined tangible net worth of  not
less than $1,000,000.

  In  January 2004, Sabal Palm was not in compliance with the net
operating  income requirement established in the loan  and  as  a
result the lender had a right to require a repayment of principal
from  the joint venture in an amount not to exceed $500,000.   In
the  second  quarter  of  2004, pursuant  to  the  existing  loan
agreement,  the  lender requested repayment of principal  in  the
amount  of $250,000.  The lender agreed to allow for this payment
to  be  made  from the $1,000,000 on deposit with the lender  and
further  agreed to reduce the liquidity requirement to  $500,000.
Additionally, the lender agreed to fund from the deposit with the
lender  certain  improvements (up to  $245,000)  that  the  joint
venture  is contemplating making in order to facilitate the  sale
of the property.

  Due  to  the fact that damage caused by the hurricanes in  2004
was  being repaired in the first and second quarter of 2005,  the
joint venture did not believe it would be able to repay the  loan
in May 2005.  Therefore, the joint venture requested an extension
of  the mortgage loan.  On April 13, 2005, the joint venture  and
the  lender  agreed to terms for a nine month  extension  of  the
current  mortgage  note.   The lender  required  that  the  joint
venture  make  a principal reduction in the amount  of  $400,000,
which  the  lender has agreed will be paid from the cash  deposit
held by the lender.  Additionally, the joint venture was required
to  pay  an  extension fee in the amount of $5,000.  Further,  as
part  of  the  extension,  the  lender  agreed  to  release   the
unencumbered liquid asset requirement of the mortgage loan.   All
other terms and conditions remain the same.

  A  requirement  of the Family Dollar lease was that  the  joint
venture  reimburse  the  tenant approximately  $127,000  for  the
substantial  improvements  made by the  tenant  to  the  existing
space.  The  joint venture reimbursed Family Dollar in  September
2004.  In addition, the joint venture will be making a number  of
other  repairs  and  improvements to the center  to  improve  its
marketability  for  sale.  These improvements will  include  roof
repair   (and  repainting)  and  parking  lot  repairs  including
restriping.

   In  September 2005, the Sabal Palm joint venture entered  into
a  contract  to  sell  the  Sabal  Palm  shopping  center  to  an
unaffiliated third party.  The contract calls for a due diligence
investigation  period of 45 days with closing to follow  45  days
thereafter.   The  due  diligence  period  has  expired  and  the
property  has been approved by the purchaser.  The joint  venture
expects  to  complete  the sale in the fourth  quarter  of  2005.
However,  there  can  be no assurance that  this  purchaser  will
complete the transaction.






                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



ITEM  2.   Management's  Discussion  and  Analysis  or  Plan   of
Operation.

  General

  Certain  statements  in  this Quarterly  Report  that  are  not
historical  fact  constitute "forward-looking statements"  within
the  meaning of the Private Securities Litigation Reform  Act  of
1995.    Without   limiting   the  foregoing,   words   such   as
"anticipates,"   "expects,"  "intends,"   "plans"   and   similar
expressions  are intended to identify forward-looking statements.
These   statements  are  subject  to  a  number  of   risks   and
uncertainties.  Actual results could differ materially from those
projected  in  the forward-looking statements.   The  Partnership
undertakes   no   obligation  to  update  these   forward-looking
statements to reflect future events or circumstances.

Liquidity and Capital Resources

   The  Partnership  intends to satisfy its short-term  liquidity
needs  through  cash  flow from the properties.   Mortgage  notes
payable are expected to be satisfied through property sales.

   The  General Partners determined to pursue the disposition  of
the Partnership's assets.  In 1999, the Partnership solicited and
received the votes of the Limited Partners to approve a  sale  of
all  the  Partnership's properties, either on  an  individual  or
group basis, and to subsequently liquidate the Partnership.   The
solicitation, which was approved by the Limited Partners  in  the
third  quarter of 1999, stated that the Partnership's  properties
may  be sold individually or in any combination provided that the
total  sales price for the properties included in the transaction
equals  or exceeds 70% of the aggregate appraised value for  such
properties, which valuation was conducted by an independent third
party appraisal firm.

   The  Partnership intends to sell the properties under a closed
bid  process  which will include identification of target  buyers
with   proven  financing  ability  and  performance  of   certain
evaluations  of  the  properties, such as environmental  testing.
Potential  buyers  will  be  requested  to  sign  confidentiality
agreements    to   safeguard   the   Partnership's   confidential
proprietary  information.  The General Partners  have  determined
that  each  bid  must be all cash, completely  unconditional  and
accompanied by a substantial deposit.

Property Status

   Raleigh Springs Marketplace

   T.J.  Maxx,  a  former  anchor tenant, vacated  its  space  in
January  1996.  During the third quarter of 1996 a  health  group
signed a $9.00 per square foot lease for approximately 40% of the
T.J.  Maxx space.  In the fourth quarter of 2001, the Partnership
leased  13,400  square feet of space to Sav  A  Lot,  a  national
grocery  chain. In the third quarter of 2004, Sav A Lot exercised
its  first  option and extended the lease maturity through  2008.
In the first quarter of 2002, the health group gave notice to the
Partnership  that  it  would vacate  the  9,500  square  feet  it
occupied  at  the expiration of its base term which  occurred  in
April, 2002.  As a result of these vacancies, Raleigh Springs was
in  a negative cash flow position.  In the first quarter of 2004,
the Partnership reached an agreement in principle with AJ Wright,
a  national clothing retailer to take approximately 25,000 square
feet  of  part  of  the space then leased to Toys  "R"  Us.   The
Partnership  negotiated  a lease with the  tenant  that  required
substantial  reconfiguration to the  existing  space  and  tenant
improvements.  This lease was subject to a successful termination
and  buyout  of the existing Toys "R" Us lease.  The  Partnership
reached an agreement with Toys "R" Us for the termination  and  a
substantial  buyout  payment by Toys "R" Us  to  the  Partnership
(such payment in the amount of $1,400,000 having been received in
September  2004).  The Partnership anticipates the  payment  will
cover  all of the conversion and tenant build out costs  required
by  the  new tenant. The buyout of the lease was subject  to  the
approval  of the property's lender and the lender agreed  to  the
transaction.   In addition, the Partnership leased  approximately
10,000  square feet of the former medical space to  the  Veterans
Administration  (the  "VA").   The  VA  lease  also  required   a
significant build out.  The Partnership has incurred the cost  of
the  build  out and funded the expense through a portion  of  the
Toys  "R"  Us  lease  buyout.   In addition,  the  VA  will  make
additional  lease payments to the Partnership in an  amount  that
will  amortize  the  cost of the improvements  over  a  five-year
period.   AJ  Wright  and  the VA took occupancy  in  the  fourth
quarter  of  2004.  Further, in the fourth quarter of  2004,  the
Partnership leased three additional suites containing a total  of
7,500 square feet of space.

   In  November  1992, the Partnership negotiated a  modification
of  the  terms of the mortgage on Raleigh Springs with the lender
(the  "Modified Loan").  In October 1992, the interest  rate  was
reduced  from 12.75% to 10.00%.  Since November 1992 and  through
September 1999, principal and interest payments were based  on  a
25-year amortization schedule.  The Modified Loan capitalized the
August,  September  and  October  1992  mortgage  payments.   The
Partnership negotiated an extension of the terms of the  mortgage
on  August  26, 1999 and August 30, 2000. On March 11, 2002,  the
Partnership  accepted a proposal to modify  the  Raleigh  Springs
mortgage  loan.   Under the terms of the proposal,  the  maturity
date was extended to April 1, 2007.  The loan, which continues to
bear interest at 10% per annum, requires monthly installments  of
principal  and  interest  of  $46,839  (based  upon  a  25   year
amortization  schedule) with a final payment of  unpaid  interest
and principal due on April 1, 2007.  Based on the lender's recent
approval  of the termination of the Toys "R" Us lease,  the  loan
will require additional lump sum principal payments of $8,500  on
or  before December 1, 2004 and then commencing December 1,  2005
annual lump sum principal payments of $34,000.

   In  the fourth quarter of 2004, the Partnership commenced  the
process of refinancing the existing debt.  Subsequent to December
31,  2004,  the Partnership received a proposal from a  potential
lender to refinance the existing debt as well as provide for  the
funding  of  additional improvement dollars for Raleigh  Springs.
This lender did not approve the proposal as originally submitted.
In  the second quarter of 2005, the Partnership executed a letter
of  intent with a national lender to refinance the existing  debt
and  to provide for additional tenant improvements.  The proposed
loan  requires  payments of interest only and has a  twenty  four
month   maturity.   The  lender  is  currently   completing   its
documentation  for the loan and the Partnership  anticipates  the
refinancing  to  be  completed in the  fourth  quarter  of  2005;
however,  there  can  be  no assurance the  Partnership  will  be
successful in completing the refinancing.

   Sabal Palm Shopping Center

   Sabal Palm was required to make a balloon mortgage payment  in
February  1997.  Prior  to the scheduled maturity  of  the  First
Mortgage  Loan, the lender granted Sabal Palm an extension  until
April  1, 1997.  On March 31, 1997, Sabal Palm obtained  a  first
mortgage  loan  in the amount of $3,200,000 (the "First  Mortgage
Loan"),  secured  by  its real estate, from NationsBanc  Mortgage
Capital  Corporation.  Prior to April 29, 2003 the First Mortgage
Loan  bore interest at the rate of 8.93% per annum, was amortized
over a 25-year period, required monthly payments of principal and
interest of approximately $26,700 and was scheduled to mature  on
March 26, 2002 (later extended to April 2003).  A portion of  the
proceeds  of  the First Mortgage Loan, approximately  $3,077,000,
was  used  to retire Sabal Palm's existing mortgage from  Lincoln
National Pension Insurance Company.

   On  August 7, 2000, Sabal Palm was given notice that Walgreens
will vacate the space prior to its lease termination of April 30,
2005.  Walgreens moved out, however, it remains liable for rental
payments  under its lease with Sabal Palm. The joint venture  and
Walgreens reached an agreement with a subtenant for the occupancy
of  this  space  through the initial term ending in  April  2005.
Subsequently, the joint venture entered into a new  direct  lease
with the replacement tenant for this space through June 30, 2007.

   In  the  second quarter of 1998, Winn-Dixie vacated its  space
at the center (which was approximately 42,000 square feet).  Winn-
Dixie failed to timely pay its rental obligation for November and
December 2001 and January through March 2002.

   As  a  result  of  Winn-Dixie's lease default,  in  the  third
quarter of 2001, Sabal Palm recorded an adjustment to liquidation
basis  of $114,367 related to an other than temporary decline  in
the value of real estate for Sabal Palm.

   In  the  fourth quarter of 2001, Sabal Palm recorded a further
adjustment  to liquidation basis of $7,508 related  to  an  other
than temporary decline in the value of real estate at Sabal Palm.

   Due  to  non-payment of Winn-Dixie's rental  obligations,  the
joint  venture did not make its mortgage payments for Sabal  Palm
in November and December 2001 and January through March 2002 thus
resulting  in  a default on its loan.  In April 2002,  the  joint
venture and the lender agreed to a twelve month extension of  the
existing  mortgage loan.  The loan extension was subject  to  the
lease  termination of Winn-Dixie and Winn-Dixie's  payment  of  a
$300,000 termination fee and payment of all past due amounts thus
curing the default.  As a requirement of the extension, the joint
venture  and  the  lender agreed to use  the  proceeds  from  the
termination  to redemize the former Winn-Dixie space  into  three
spaces as well as certain other improvements to the center.   The
joint  venture signed a lease with Sav A Lot, a national  grocery
chain, for 14,350 square feet (one of the demized spaces).  Sav A
Lot  took  occupancy of its space in October, 2002.  In addition,
in  the first quarter of 2004 the joint venture executed a  lease
with  Family  Dollar  (a  national discount  retailer)  to  lease
approximately  10,675 square feet (another  one  of  the  demized
spaces).   Family  Dollar  has taken  occupancy  in  the  center.
Separately,  the  joint venture has made  a  number  of  cosmetic
improvements to the center in preparation for its sale.  However,
the  property was recently damaged by two of the hurricanes  that
struck  the Palm Bay area in the third quarter of 2004  and  will
likely delay the sale of the property.  The property's damage was
primarily  cosmetic  and   we  do   not  believe  the  structural
integrity       or       economic       viability      of     the
building   has  diminished.   Temporary  repair  work  has   been
completed. However due to the extensive damage elsewhere  in  the
area, permanent repairs were not able to commence until the first
quarter of 2005.

   On   March  17,  2003,  the  joint  venture  obtained  a  loan
commitment  from  AmSouth Bank in the amount of $3,250,000.   The
loan  proposal provides for payment of interest only  for  a  24-
month  term  subject to various tests to be met  at  a  six-month
period  from close and a nine-month period from close.  If  these
tests are not met the joint venture can be required to reduce the
principal  outstanding  by  a  cumulative  amount  ranging   from
$250,000 to $500,000 depending on the test.

  On  April  29, 2003, the Sabal Palm joint venture closed  on  a
$3,250,000 mortgage with AmSouth Bank (subject to a reduction not
to  exceed  $500,000 if certain conditions of the  loan  are  not
met).  The  joint  venture  repaid the  prior  outstanding  first
mortgage  loan  on  the  property in the  amount  of  $2,957,941,
accrued  interest  of $22,100 and paid loan  costs  and  fees  of
approximately  $46,100 at closing. The joint venture  expects  to
use  the  remaining proceeds primarily to finance certain  tenant
improvements and leasing costs.

  The  AmSouth  loan bears interest at LIBOR plus  2.85%  and  is
payable  interest only monthly until maturity (May  3,  2005)  at
which time all unpaid interest and principal is due.  The loan is
secured  by  a first mortgage lien on the property and collateral
assignment  of  rents  and  leases  as  well  as  the  management
agreement.   The  partners  of  the  joint  venture   have   each
guaranteed  the repayment of 50% of the joint venture obligations
under   the  loan  documents  and  the  manager  has  agreed   to
subordinate payment of the management fee to the payment  of  the
loan obligations.

  Additionally, the lender required that $1,000,000 in  aggregate
unencumbered liquid assets be maintained (but not pledged) during
the  term  of  the loan as well as requiring the Partnership  and
BREF  5 to maintain a minimum combined tangible net worth of  not
less than $1,000,000.

  In  January 2004, Sabal Palm was not in compliance with the net
operating  income requirement established in the loan  and  as  a
result the lender had a right to require a repayment of principal
from  the joint venture in an amount not to exceed $500,000.   In
the

second  quarter of 2004, pursuant to the existing loan agreement,
the  lender  requested repayment of principal in  the  amount  of
$250,000.  The lender agreed to allow for this payment to be made
from the $1,000,000 on deposit with the lender and further agreed
to  reduce  the liquidity requirement to $500,000.  Additionally,
the  lender  agreed  to  fund from the deposit  with  the  lender
certain  improvements (up to $245,000) that the joint venture  is
contemplating  making  in order to facilitate  the  sale  of  the
property.

  Due  to  the fact that damage caused by the hurricanes in  2004
was  being repaired in the first and second quarter of 2005,  the
joint venture did not believe it would be able to repay the  loan
in  May.  Therefore, the joint venture requested an extension  of
the  mortgage loan.  On April 13, 2005, the joint venture and the
lender  agreed to terms for a nine month extension of the current
mortgage note.  The lender required that the joint venture make a
principal  reduction in the amount of $400,000, which the  lender
has agreed will be paid from the cash deposit held by the lender.
Additionally, the joint venture is required to pay  an  extension
fee  in the amount of $5,000.  Further, as part of the extension,
the  lender  agreed  to  release the  unencumbered  liquid  asset
requirement of the mortgage loan.  All other terms and conditions
remain the same.

   A  requirement of the Family Dollar lease was that  the  joint
venture  reimburse  the  tenant approximately  $127,000  for  the
substantial  improvements  made by the  tenant  to  the  existing
space.  The  joint venture reimbursed Family Dollar in  September
2004.  In addition, the joint venture will be making a number  of
other  repairs  and  improvements to the center  to  improve  its
marketability  for  sale.  These improvements will  include  roof
repair   (and  repainting)  and  parking  lot  repairs  including
restriping.

   In  September 2005, the Sabal Palm joint venture entered  into
a  contract  to  sell  the  Sabal  Palm  shopping  center  to  an
unaffiliated third party.  The contract calls for a due diligence
investigation  period of 45 days with closing to follow  45  days
thereafter.   The  due  diligence  period  has  expired  and  the
property  has been approved by the purchaser.  The joint  venture
expects  to  complete  the sale in the fourth  quarter  of  2005.
However,  there  can  be no assurance that  this  purchaser  will
complete the transaction.

Results of Operations

   The  Partnership's revenue and expenses are affected primarily
by the operations of the properties.  Property operations, and in
particular the components of income, demand for space and  rental
rates  are,  to a large extent, determined by local and  national
market conditions.

   These   conditions  have  generally  adversely  impacted   the
Partnership's property economics.

   The  General Partners conduct an in-depth assessment  of  each
property's  physical condition as well as a demographic  analysis
to assess opportunities for increasing occupancy and rental rates
and  decreasing  operating  costs.  In all  instances,  decisions
concerning restructuring of loan terms, reversions and subsequent
operation  of the property are made with the intent of maximizing
the  potential proceeds to the Partnership and, therefore, return
of investment and income to Limited Partners.

   In   certain   instances  and  under  limited   circumstances,
management  of  the  Partnership entered into  negotiations  with
lenders  for the purpose of restructuring the terms of  loans  to
provide  for  debt  service levels that  could  be  supported  by
operations   of   the   properties.    When   negotiations    are
unsuccessful,   management  of  the  Partnership  considers   the
possibility  of  reverting the properties to the  first  mortgage
lender.   Foreclosure proceedings may require 6 to 24  months  to
conclude.

Results of Operations - Nine months ended September 30, 2005  and
2004 (Liquidation Basis)

  As  a  result  of the Partnership's adoption of the liquidation
basis  of  accounting, and in accordance with generally  accepted
accounting principles, the Partnership's financial statements for
periods  subsequent  to July 12, 1999 have  been  prepared  on  a
liquidation basis.

  The  Partnership generated net loss of $183,000 for the  period
ended  September 30, 2005 as compared to net income  of  $357,000
for the same period in 2004.  The $540,000 decrease in net income
is  primarily a result of a decrease in lease termination fees of
$1,400,000  partially offset by an increase in rental  income  of
$123,000  and decreases in general and administrative expense  of
$626,000 and management fees of $78,000.  The Partnership's share
of Sabal Palm's net loss decreased $58,000.

  Total  income  for  the  period ended September  30,  2005  was
$662,000  as compared to $1,943,000 for the same period in  2004.
The $1,281,000 decrease in total income was primarily a result of
a $1,400,000 decrease in lease termination fees.

  Total  expenses for the period ended September  30,  2005  were
$831,000  as compared to $1,514,000 for the same period in  2004.
The  $683,000 decrease in total expense was primarily  due  to  a
decrease in general and administration expense of $626,000 and  a
decrease  of  $78,000  in management fee  expense.   General  and
administrative  expense decreased as a result of the  completions
of  the  buildout  of  several of the  previously  vacant  tenant
spaces.   Management  fees decreased primarily  as  a  result  of
expenses associated with the 2004 lease termination payment.


Results of Operations - Three months ended September 30, 2005 and
2004 (Liquidation Basis)

  The  Partnership generated net income of $2,000 for the  period
ended  September 30, 2005 as compared to net income  of  $432,000
for the same period in 2004.  The $430,000 decrease in net income
is   primarily  a  result  of  a  decrease  in  total  income  of
$1,334,000,   partially  offset  by  decreases  in  general   and
administrative  expenses  of  $787,000  and  management  fees  of
$84,000.   The  Partnership's share of Sabal  Palm's  net  income
increased $63,000.

  Total  income  for  the  period ended September  30,  2005  was
$227,000  as compared to $1,560,000 for the same period in  2004.
The $1,333,000 decrease in total income was primarily a result of
a  $1,400,000 decrease in lease termination fees.  Rental  income
increased  $66,000  primarily due to the increased  occupancy  at
Raleigh.

  Total  expenses for the period ended September  30,  2005  were
$246,000  as compared to $1,087,000 for the same period in  2004.
The  $840,000  decrease in total expense  was  primarily  due  to
decreases  in general and administration expense of $787,000  and
management  fees of $84,000.  General and administration  expense
decreased primarily as a result of expenses associated  with  the
completion  of several of the previously vacant spaces  in  2004.
Management  fees  decreased primarily as  a  result  of  expenses
associated with the 2004 lease termination payment.


ITEM 3.     Controls and Procedures

Evaluation of Disclosure Controls and Procedures

  Our  Chief  Executive Officer and Chief Financial  Officer,  of
the  corporate  general partner, have reviewed and evaluated  the
effectiveness  of  the  Partnership's  disclosure  controls   and
procedures  (as  defined in Exchange Act Rules 240.13a-14(c)  and
15d-14(c)) as of a date within 90 days before the filing date  of
this   Annual  Report.   Based  on  that  evaluation,  the  Chief
Executive Officer and Chief Financial Officer have concluded that
the  Partnership's current disclosure controls and procedures are
effective and timely, providing all material information relating
to  the Partnership required to be disclosed in reports filed  or
submitted under the Exchange Act.

Changes in Internal Controls

  There   have   not   been  any  significant  changes   in   the
Partnership's  internal controls or in other factors  that  could
significantly  affect these controls subsequent to  the  date  of
their   evaluation.   We  are  not  aware  of   any   significant
deficiencies  or  material weaknesses,  therefore  no  corrective
actions were taken.





                  Brauvin Real Estate Fund L.P. 4
                  (a Delaware limited partnership)



                   PART II - OTHER INFORMATION


  ITEM 1.  Legal Proceedings.

            None.

  ITEM 2.  Changes in Securities.

            None.

  ITEM 3.  Defaults Upon Senior Securities.

            None.

  ITEM 4.  Submission of Matters to a Vote of Security
            Holders.

            None.

  ITEM 5.  Other Information.

            None.

  ITEM 6.  Exhibits and Reports On Form 8-K.

            Exhibit 99.  Certification of Officers

                           SIGNATURES


In  accordance  with the requirements of the  Exchange  Act,  the
registrant caused this report to be signed on its behalf  by  the
undersigned, thereunto duly authorized.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 15, 2005


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 15, 2005



         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)
           CERTIFICATE OF THE CHIEF EXECUTIVE OFFICER
                               OF
                     BRAUVIN VENTURES, INC.
                    CORPORATE GENERAL PARTNER
                               OF
                 BRAUVIN REAL ESTATE FUND L.P. 4

I,  Jerome  J.  Brault, Chief Executive Officer of  the  Company,
certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P. 4;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Designed   such   internal   control   over   financial
          reporting,   or  caused  such  internal  control   over
          financial   reporting   to  be   designed   under   our
          supervision, to provide reasonable assurance  regarding
          the   reliability  of  financial  reporting   and   the
          preparation   of  financial  statements  for   external
          purposes   in   accordance  with   generally   accepted
          accounting principles

     c)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     d)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4

                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE: November 15, 2005




         CERTIFICATION FOR SARBANES-OXLEY SECTION 302(A)

           CERTIFICATE OF THE CHIEF FINANCIAL OFFICER
                               OF
                     BRAUVIN VENTURES, INC.
                    CORPORATE GENERAL PARTNER
                               OF
                 BRAUVIN REAL ESTATE FUND L.P. 4

I,  Thomas  E.  Murphy, Chief Financial Officer of  the  Company,
certify that:

1.   I  have  reviewed this quarterly report on  Form  10-QSB  of
     Brauvin Real Estate Fund L.P 4.;

2.   Based  on  my  knowledge, this report does not  contain  any
     untrue  statement  of  material fact  or  omit  to  state  a
     material  fact  necessary to make the  statements  made,  in
     light of the circumstances under which such statements  were
     made,  not misleading with respect to the period covered  by
     this report;

3.   Based  on my knowledge, the financial statements, and  other
     financial  information  included  in  this  report,   fairly
     present  in all material respects the consolidated financial
     condition, results of operations and statement of changes in
     net  assets in liquidation of the small business  issuer  as
     of, and for, the periods presented in this report;

4.   The  small business issuer's other certifying officer and  I
     are  responsible for establishing and maintaining disclosure
     controls  and procedures (as defined in Exchange  Act  Rules
     13a-15(e) and 15d-15(e)) and internal control over financial
     reporting  (as  defined in Exchange Act Rules 13a-15(f)  and
     15d-15(f)for the small business issue and have:

     a)   Designed  such  disclosure controls and procedures,  or
          caused  such disclosure controls and procedures  to  be
          designed under our supervision, to ensure that material
          information  relating  to the  small  business  issuer,
          including its consolidated subsidiaries, is made  known
          to  us  by  others within those entities,  particularly
          during  the  period in which this quarterly  report  is
          being prepared;

     b)   Designed   such   internal   control   over   financial
          reporting,   or  caused  such  internal  control   over
          financial   reporting   to  be   designed   under   our
          supervision, to provide reasonable assurance  regarding
          the   reliability  of  financial  reporting   and   the
          preparation   of  financial  statements  for   external
          purposes   in   accordance  with   generally   accepted
          accounting principles

     c)   Evaluated  the  effectiveness  of  the  small  business
          issuer's   disclosure  controls  and   procedures   and
          presented  in  this  report our conclusions  about  the
          effectiveness   of   the   disclosure   controls    and
          procedures, as of the end of the period covered by this
          report based on such evaluation; and

     d)   Disclosed  in  this  report any  change  in  the  small
          business   issuer's  internal  control  over  financial
          reporting  that  occurred  during  the  small  business
          issuer's most recent fiscal quarter (the small business
          issuer's  fourth  quarter in  the  case  of  an  annual
          report)  that has materially affected, or is reasonably
          likely   to  materially  affect,  the  small   business
          issuer's internal control over financial reporting; and

5.   The  small business issuer's other certifying officer and  I
     have  disclosed,  based  on our most  recent  evaluation  of
     internal  control  over financial reporting,  to  the  small
     business issuer's auditors and the audit committee of  small
     business  issuer's board of directors (or persons performing
     the equivalent function):

     a)   All significant deficiencies and material weaknesses in
          the  design  or  operation  of  internal  control  over
          financial  reporting  which are  reasonably  likely  to
          aversely affect the small business issuer's ability  to
          record,   process,   summarize  and  report   financial
          information; and

     b)   Any  fraud,  whether  or  not material,  that  involves
          management  or  other employees who have a  significant
          role  in  the small business issuer's internal controls
          over financial reporting.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE: November 15, 2005


                           Exhibit 99
                    SECTION 906 CERTIFICATION


The  following  statement  is  provided  by  the  undersigned  to
accompany  the  Quarterly Report on Form 10-QSB for  the  quarter
ended September 30, 2005, pursuant to Section 906 of the Sarbanes-
Oxley  Act of 2002 and shall not be deemed filed pursuant to  any
provisions  of the Securities Exchange Act of 1934 or  any  other
securities law:

Each  of  the undersigned certifies that the foregoing Report  on
Form 10-QSB fully complies with the requirements of Section 13(a)
of  the Securities Exchange Act of 1934 (15 U.S.C. 78m) and  that
the information contained in the Form 10-QSB fairly presents,  in
all  material  respects, the financial condition and  results  of
operations of Brauvin Real Estate Fund L.P. 4.



                         BY:  Brauvin Ventures, Inc.
                              Corporate General Partner of
                              Brauvin Real Estate Fund L.P. 4


                              BY:  /s/ Jerome J. Brault
                                   Jerome J. Brault
                                   Chairman of the Board of
                                   Directors and President

                              DATE:     November 15, 2005


                              BY:  /s/ Thomas E. Murphy
                                   Thomas E. Murphy
                                   Chief Financial Officer and
                                   Treasurer

                              DATE:     November 15, 2005