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

                                    FORM 10-Q
                                   (mark one)

               X QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                  For the quarterly period ended: June 30, 1998

                                       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 000-16757


                          CONCORD MILESTONE PLUS, L.P.
             (Exact Name of Registrant as Specified in its Charter)


               Delaware                                      52-1494615
(State or Other Jurisdiction of            (I.R.S. Employer Identification No.)
 Incorporation or Organization)

150 EAST PALMETTO PARK ROAD
               4TH FLOOR
       BOCA RATON, FLORIDA                                      33432
(Address of Principal Executive Offices)                      (Zip Code)

                                 (561) 394-9260
               Registrant's Telephone Number, Including Area Code

Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report

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 for the
past 90 days. Yes X No
<PAGE>
PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements

                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                                 BALANCE SHEETS

                 JUNE 30, 1998 (Unaudited) AND DECEMBER 31, 1997

                                     ASSETS
<TABLE>
<CAPTION>

                                                                                              June 30, 1998   December 31, 1997
Property, at cost
<S>                                                                                            <C>             <C>         
    Building and improvements ..............................................................   $ 15,491,964    $ 15,453,945
    Less: accumulated depreciation .........................................................      5,724,066       5,413,087
                                                                                               ------------    ------------

    Building and improvements, net .........................................................      9,767,898      10,040,858
    Land ...................................................................................     10,987,034      10,987,034
                                                                                               ------------    ------------

    Total property .........................................................................     20,754,932      21,027,892

Cash and cash equivalents ..................................................................        262,733         257,905
Accounts receivable ........................................................................        197,452         123,152
Restricted cash ............................................................................        236,855         269,895
Prepaid expenses and other assets, net .....................................................         65,172          67,516
Debt financing costs, net ..................................................................        289,837         305,504
                                                                                               ------------    ------------
      Total assets .........................................................................   $ 21,806,981    $ 22,051,864
                                                                                               ============    ============

                                            LIABILITIES AND PARTNERS' CAPITAL
Liabilities:
Mortgage loans payable .....................................................................   $ 16,597,551    $ 16,683,574
Accrued interest ...........................................................................        112,943         117,308
Accrued expenses and other liabilities .....................................................        244,945         341,263
Accrued expenses payable to affiliates .....................................................         22,208          73,935
                                                                                               ------------    ------------
    Total liabilities ......................................................................     16,977,647      17,216,080
                                                                                               ------------    ------------

Partners' capital:
General partner ............................................................................        (74,272)        (74,207)
Limited partners:
    Class A Interests, 1,518,800 ...........................................................      4,903,606       4,909,991
                                                                                               ------------    ------------
    Total partners' capital ................................................................      4,829,334       4,835,784
                                                                                               ------------    ------------

    Total liabilities and partners' capital ................................................   $ 21,806,981    $ 22,051,864
                                                                                               ============    ============

</TABLE>

                 See Accompanying Notes to Financial Statements

                                       -2-
<PAGE>
                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                       STATEMENTS OF REVENUES AND EXPENSES

                                   (Unaudited)

                FOR THE THREE MONTHS ENDED JUNE 30, 1998 AND 1997

<TABLE>
<CAPTION>

                                                                                                      June 30,1998  June 30, 1997
Revenues:
<S>                                                                                                      <C>          <C>      
Rent .................................................................................................   $ 673,588    $ 576,105
Reimbursed expenses ..................................................................................      95,726      123,990
Interest and other income ............................................................................       3,477        9,332
                                                                                                         ---------    ---------

    Total revenues ...................................................................................     772,791      709,427
                                                                                                         ---------    ---------

Expenses:
Interest expense .....................................................................................     342,865      411,300
Depreciation and amortization ........................................................................     160,438      142,444
Management and property expenses .....................................................................     213,386      185,233
Administrative and management fees to related party ..................................................      35,585       31,145
Professional fees and other expenses .................................................................      28,516      103,707
                                                                                                         ---------    ---------

    Total expenses ...................................................................................     780,790      873,829
                                                                                                         ---------    ---------

Net loss .............................................................................................   $  (7,999)   $(164,402)
                                                                                                         =========    =========

Net loss attributable to:

    Limited partners .................................................................................   $  (7,919)   $(162,758)
    General partner ..................................................................................         (80)      (1,644)
                                                                                                         ---------    ---------

Net loss .............................................................................................   $  (7,999)   $(164,402)
                                                                                                         =========    =========

Loss per weighted average
Limited Partnership 100 Class A
Interests outstanding ................................................................................   $    (.52)   $  (10.72)
                                                                                                         =========    =========

Weighted average number of 100
Class A interests outstanding ........................................................................      15,188       15,188
                                                                                                         =========    =========
</TABLE>

                 See Accompanying Notes to Financial Statements

                                       -3-

<PAGE>
                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                       STATEMENTS OF REVENUES AND EXPENSES

                                   (Unaudited)

                 FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
                                    <TABLE>
<CAPTION>


                                                                                                        June 30,1998  June 30, 1997
Revenues:
<S>                                                                                                      <C>            <C>        
Rent .................................................................................................   $ 1,302,393    $ 1,268,973
Reimbursed expenses ..................................................................................       205,421        239,231
Interest and other income ............................................................................         6,139         15,472
                                                                                                         -----------    -----------

    Total revenues ...................................................................................     1,513,953      1,523,676
                                                                                                         -----------    -----------

Expenses:
Interest expense .....................................................................................       682,252        822,600
Depreciation and amortization ........................................................................       332,239        285,050
Management and property expenses .....................................................................       390,525        376,991
Administrative and management fees to related party ..................................................        68,766         66,003
Professional fees and other expenses .................................................................        46,621        128,102
                                                                                                         -----------    -----------

    Total expenses ...................................................................................     1,520,403      1,678,746
                                                                                                         -----------    -----------

Net loss .............................................................................................   $    (6,450)   $  (155,070)
                                                                                                         ===========    ===========

Net loss attributable to:

    Limited partners .................................................................................   $    (6,385)   $  (153,519)
    General partner ..................................................................................           (65)        (1,551)
                                                                                                         -----------    -----------

Net loss .............................................................................................   $    (6,450)   $  (155,070)
                                                                                                         ===========    ===========

Loss per weighted average
Limited Partnership 100 Class A
Interests outstanding ................................................................................   $      (.42)   $    (10.11)
                                                                                                         ===========    ===========

Weighted average number of 100
Class A interests outstanding ........................................................................        15,188         15,188
                                                                                                         ===========    ===========
</TABLE>
                 See Accompanying Notes to Financial Statements

                                       -4-

<PAGE>
                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                   STATEMENTS OF CHANGES IN PARTNERS' CAPITAL

                                   (Unaudited)

                     FOR THE SIX MONTHS ENDED JUNE 30, 1998
<TABLE>
<CAPTION>


                                                                                                      General      Class A
                                                                                      Total           Partner      Interests


PARTNERS' CAPITAL (DEFICIT)
<S>           <C>                                                                  <C>            <C>            <C>        
      January 1, 1998 ..........................................................   $ 4,835,784    $   (74,207)   $ 4,909,991

Distributions ..................................................................          --             --             --
Net loss .......................................................................        (6,450)           (65)        (6,385)
                                                                                   -----------    -----------    -----------

PARTNERS' CAPITAL (DEFICIT)
      June 30, 1998 ............................................................   $ 4,829,334    $   (74,272)   $ 4,903,606
                                                                                   ===========    ===========    ===========
</TABLE>

                 See Accompanying Notes to Financial Statements

                                       -5-

<PAGE>
                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                            STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                 FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
<TABLE>
<CAPTION>

                                                                                                      June 30,1998  June 30, 1997
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                                                      <C>          <C>       
Net loss .............................................................................................   $  (6,450)   $(155,070)
Adjustments to reconcile net loss to net
        cash provided by operating activities:
        Depreciation and amortization ................................................................     332,239      285,050
        Change in operating assets and liabilities:
        (Increase) decrease in accounts receivable ...................................................     (74,300)      23,741
        (Increase) decrease in prepaid expenses and
             other assets, net .......................................................................      (3,250)      11,550
        Decrease in accrued interest .................................................................      (4,365)     (43,881)
        (Decrease) increase in accrued expenses and
             other liabilities .......................................................................     (96,318)      19,928
        Decrease in due to affiliate .................................................................     (51,727)     (11,985)
                                                                                                         ---------    ---------

Net cash provided by operating activities ............................................................      95,829      129,333
                                                                                                         ---------    ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
        Property improvements ........................................................................     (38,018)     (33,011)
                                                                                                         ---------    ---------

CASH FLOWS FROM FINANCING ACTIVITIES:
        Decrease in restricted cash ..................................................................      33,040            0
        Principal repayments on mortgage loans payable ...............................................     (86,023)           0
        Cash distributions to partners ...............................................................           0     (102,066)
                                                                                                         ---------    ---------
Net cash used in financing activities ................................................................     (52,983)    (102,066)

NET INCREASE (DECREASE) IN CASH AND CASH
        EQUIVALENTS ..................................................................................       4,828       (5,744)

CASH AND CASH EQUIVALENTS,
        BEGINNING OF PERIOD ..........................................................................     257,905      326,120
                                                                                                         ---------    ---------

CASH AND CASH EQUIVALENTS,
        END OF PERIOD ................................................................................   $ 262,733    $ 320,376
                                                                                                         =========    =========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
        INFORMATION:

Cash paid during the period for interest .............................................................   $ 686,617    $ 822,600
                                                                                                         =========    =========
</TABLE>

                 See Accompanying Notes to Financial Statements

                                       -6-
<PAGE>

                          CONCORD MILESTONE PLUS, L.P.
                             (a Limited Partnership)

                          NOTES TO FINANCIAL STATEMENTS

                                   (Unaudited)

                     FOR THE SIX MONTHS ENDED JUNE 30, 1998


        The accompanying  financial  statements have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with  the  instructions  to Form  10-Q and  Rule  10-01 of  Regulation  S-X.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
In the opinion of management,  all adjustments  (consisting of normal  recurring
accruals) considered  necessary for a fair presentation have been included.  The
financial  statements  as of and for the period ended June 30, 1998 and 1997 are
unaudited. The results of operations for the interim periods are not necessarily
indicative of the results of operations for the fiscal year. Certain information
for  1997 has been  reclassified  to  conform  to the 1998  presentation.  These
financial statements should be read in conjunction with the financial statements
and  footnotes  included  thereto  in the  Concord  Milestone  Plus,  L.P.  (the
"Partnership")  financial  statements  filed on form  10-K  for the  year  ended
December 31, 1997.

Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

General

        Certain  statements  made in  this  report  constitute  "forward-looking
statements"  within the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act") and Section 21E of the Securities Exchange Act of
1934, as amended (the "Exchange Act"). Such  forward-looking  statements include
statements  regarding  the  intent,   belief  or  current  expectations  of  the
Partnership   and  its   management   and  involve  known  and  unknown   risks,
uncertainties and other factors which may cause the actual results,  performance
or achievements  of the  Partnership to be materially  different from any future
results,   performance   or   achievements   expressed   or   implied   by  such
forward-looking  statements.  Such  factors  include,  among other  things,  the
following:  general  economic and business  conditions,  which will, among other
things,  affect the demand for retail space or retail  goods,  availability  and
creditworthiness  of  prospective  tenants,   lease  rents  and  the  terms  and
availability of financing; adverse changes in the real estate markets including,
among other things, competition with other retail commercial landlords; risks of
real estate development and acquisition;  governmental  actions and initiatives;
and environment/safety requirements.

                                                           -7-

<PAGE>



Organization and Capitalization

        The  Partnership  was formed on December  12,  1986,  for the purpose of
investing in existing  income-producing  commercial and industrial  real estate.
The  Partnership  began  operations on August 20, 1987,  and currently  owns and
operates  three  shopping  centers  located  in  Searcy,   Arkansas;   Valencia,
California; and Green Valley, Arizona.

        The Partnership commenced a public offering on April 8, 1987 in order to
fund the Partnership's real property  acquisitions.  The Partnership  terminated
its public offering on April 2, 1988 and was fully subscribed to with a total of
16,452 Bond Units and 15,188  Equity Units  issued.  Each Bond Unit  consists of
$1,000  principal  amount of Bonds and 36 Class B  Interests.  Each  Equity Unit
consists  of  100  Class  A  Interests  and  100  Class  B  Interests.   Capital
contributions  to the Partnership  consisted of $15,187,840 from the sale of the
Equity Units and $592,272 which represent the Class B Interests from the sale of
the Bond Units.

Results of Operations

Comparison of Three Months Ended June 30, 1998 to Three Months Ended June 30,
1997

        The  Partnership  recognized  a net loss of $7,999 for the three  months
ended June 30, 1998 as compared to a net loss of $164,402 for the same period in
1997 due to the following factors.

        Revenues increased by $63,364, or 8.9%, to $772,791 for the three months
ended June 30, 1998 as compared to $709,427  for the three months ended June 30,
1997 primarily due to: (1) an increase in base rent revenue from two new tenants
at the Green Valley Mall and (2) an increase in percentage  rent revenue for one
major tenant at the Green Valley Mall.

        Interest  expense  decreased by $68,435,  or 16.6%,  to $342,865 for the
three  months  ended June 30, 1998 as compared to $411,300  for the three months
ended June 30, 1997 due to a decrease of  approximately  2% in the interest rate
on the Partnership's mortgage loans in 1998 compared to the interest rate on the
bonds payable in 1997. The  Partnership  consummated  three new fixed rate first
mortgage loans in September  1997, the proceeds of which were used to redeem all
of the then outstanding bonds payable.

        Depreciation and amortization expense increased by $17,994, or 12.6%, to
$160,438  for the three  months  ended June 30, 1998 as compared to $142,444 for
the three  months  ended June 30,  1997  primarily  due to: (1) an  increase  of
$10,983 in  depreciation  expense  caused by property  improvement  expenditures
throughout  1997, and (2) an increase of $7,833 in  amortization  expense due to
debt financing costs associated with the 1997 bond refinancing.

                                                           -8-

<PAGE>



     Management  and  property  expenses  increased  by  $28,153,  or 15.2%,  to
$213,386  for the three  months  ended June 30, 1998 as compared to $185,233 for
the three months ended June 30, 1997 primarily due to an increase in real estate
tax expense  resulting from a significant  increase in the assessed value at the
Green Valley Mall in Green Valley, Arizona.

     Professional  fees and other expenses  decreased by $75,191,  or 72.5%,  to
$28,516 for the three months ended June 30, 1998 as compared to $103,707 for the
three months  ended June 30, 1997 due to: (1)  environmental  expenses  incurred
during the second quarter of 1997 for a risk-based  closure at a site at the Old
Orchard Shopping  Center,  in Valencia,  California,  and (2) the termination of
trustee fees of approximately $7,500 relating to the bonds which were refinanced
during September 1997.

Results of Operations

Comparison of Six Months Ended June 30, 1998 to Six Months Ended June 30, 1997

        The  Partnership  recognized net loss of $6,450 for the six months ended
June 30, 1998 as compared to a net loss of $155,070  for the same period in 1997
due to the following factors.

     Revenues  decreased by $9,723,  or 0.6%, to  $1,513,953  for the six months
ended June 30, 1998 as compared to $1,523,676  for the six months ended June 30,
1997 due to the net  effect  of the  following:  (1) an  increase  in base  rent
revenue from two new tenants, and an increase in percentage rent revenue for one
major  tenant,  both at the Green  Valley Mall and (2) a decrease in  reimbursed
expenses due to a decrease in billable in property expenses.

        Interest  expense  decreased by $140,348,  or 17.1%, to $682,252 for the
six months  ended June 30, 1998 as compared to $822,600 for the six months ended
June 30, 1997 due to a decrease of  approximately 2% in the interest rate on the
mortgage  loans in 1998  compared to the interest  rate on the bonds  payable in
1997 which were retired with the proceeds of the mortgage loans.

        Depreciation and amortization expense increased by $47,189, or 16.6%, to
$332,239  for the six months ended June 30, 1998 as compared to $285,050 for the
six months ended June 30,1997  primarily due to: (1) an increase in depreciation
expense resulting from property  improvement  expenditures  throughout 1997, and
(2) an increase in amortization  expense due to debt financing costs  associated
with the 1997 bond refinancing.

        Management  and  property  expenses  increased by $13,534,  or 3.6%,  to
$390,525  for the six months ended June 30, 1998 as compared to $376,991 for the
six months  ended June 30,  1997  resulting  from an increase in real estate tax
expense  caused by a significant  increase in the assessment at the Green Valley
Mall.


                                                           -9-

<PAGE>



        Professional fees and other expenses decreased by $81,481,  or 63.6%, to
$46,621 for the six months  ended June 30, 1998 as compared to $128,102  for the
six months  ended  June 30,  1997 due to: (1)  environmental  expenses  incurred
during the second quarter of 1997 for a risk-based  closure at a site at the Old
Orchard Shopping Center and (2) the termination of trustee fees in 1998 relating
to the bonds payable which were refinanced during September 1997.

Liquidity and Capital Resources

        The General Partner believes that the Partnership's expected revenue and
working  capital  is  sufficient  to meet the  Partnership's  current  operating
requirements for the next twelve months. Nevertheless, because the cash revenues
and expenses of the  Partnership  will depend on future facts and  circumstances
relating to the Partnership's properties, as well as market and other conditions
beyond the  control of the  Partnership,  a  possibility  exists  that cash flow
deficiencies may occur. Currently, a significant amount (approximately $237,000)
of the  Partnership's  working  capital is still in the control of the holder of
the first  mortgage as funds held in escrow for real estate  taxes,  and pending
resolution of certain circumstances.

        Additionally,  the Partnership anticipates paying approximately $150,000
for various property and tenant improvements during the third and fourth quarter
of 1998.

        The Partnership  suspended making distributions  subsequent to the first
quarter of 1997 due to the cost of addressing an environmental  issue identified
at the  Valencia  Property  and  payment of  certain  expenses  relative  to the
refinancing.  The Partnership is anticipating resuming  distributions as soon as
the Partnership's unrestricted working capital levels are adequate.

        Management  is not aware of any other  trends,  events,  commitments  or
uncertainties  that will or are likely to  materially  impact the  Partnership's
liquidity.

        Net cash provided by operating  activities of $95,829 for the six months
ended June 30, 1998 included (i) a net loss of $6,450 (ii) non-cash  adjustments
of $332,239 for depreciation and amortization  expense and (iii) a net change in
operating assets and liabilities of $229,960.

        Net cash provided by operating activities of $129,333 for the six months
ended June 30, 1997 included (i) net loss of $155,070, (ii) non-cash adjustments
of $285,050 for depreciation and amortization  expense and (iii) a net change in
operating assets and liabilities of $647.

        Net cash used in  investing  activities  of  $38,018  for the six months
ended June 30, 1998 was for capital expenditures for property improvements.


                                                           -10-

<PAGE>



        Net cash used in  investing  activities  of  $33,011  for the six months
ended June 30, 1997 was for capital expenditures for property improvements.

        Net cash used in  financing  activities  of  $52,983  for the six months
ended June 30, 1998 included (i) principal  repayments on mortgage loans payable
of $86,023 and (ii) a decrease in restricted cash of $33,040.

        Net cash used in  financing  activities  of $102,066  for the six months
ended June 30, 1997 was for cash distributions to partners.

Item 6.  Exhibits and Reports on Form 8-K

(a)     The following exhibit is included herein:

        Exhibit 27 - Financial  Data Schedule  Article 5 included for Electronic
Data Gathering,  Analysis,  and Retrieval  (EDGAR)  purposes only. This Schedule
contains  summary  financial  information  extracted from the balance sheets and
statements  of revenues  and expenses of the  Partnership  as of and for the six
month period ended June 30, 1998,  and is qualified in its entirety by reference
to such financial statements.


                                                           -11-

<PAGE>



                                                        SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.



DATE: August 12, 1998                             CONCORD MILESTONE PLUS, L.P.
                                                         (Registrant)



                                  BY:     CM PLUS CORPORATION
                                          General Partner




                                  By:     /S/ Robert Mandor
                                          Robert Mandor
                                          Director and Vice President



                                  By:     /S/ Patrick Kirse
                                          Patrick Kirse
                                          Treasurer and Controller


                                      -12-