SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-KSB

             Annual Report Under Section 13 or 15(d)
             Of The Securities Exchange Act Of 1934

          For the Fiscal Year Ended:  December 31, 1999

                Commission file number:  0-14089

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP
         (Name of Small Business Issuer in its Charter)

        State of Delaware                93-0926134
(State or other Jurisdiction of     (I.R.S. Employer)
Incorporation or Organization)     Identification No.)

     1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
            (Address of Principal Executive Offices)

                          (651) 227-7333
                   (Issuer's telephone number)

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

                                 Name of each exchange on
     Title of each class             which registered
             None                          None

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

                      Limited Partnership Units
                        (Title of class)

Check  whether  the issuer (1) filed all reports required  to  be
filed  by Section 13 or 15(d) of the Securities Exchange  Act  of
1934  during the past 12 months (or for such shorter period  that
the  registrant was required to file such reports), and  (2)  has
been subject to such filing requirements for the past 90 days.

                         Yes  [X]    No

Check if disclosure of delinquent filers in response to Rule  405
of  Regulation  S-B  is  not  contained  in  this  Form,  and  no
disclosure  will  be contained, to the best of  the  registrant's
knowledge,   in   definitive  proxy  or  information   statements
incorporated by reference in Part III of this Form 10-KSB or  any
amendment to this Form 10-KSB.  [X]

The  Issuer's  revenues  for year ended December  31,  1999  were
$809,646.

As  of  February 29, 2000, there were 7,294.88 Units  of  limited
partnership interest in the registrant outstanding and  owned  by
nonaffiliates  of  the registrant, which Units had  an  aggregate
market  value (based solely on the price at which they were  sold
since there is no ready market for such Units) of $7,294,880.

               DOCUMENTS INCORPORATED BY REFERENCE

 The registrant has not incorporated any documents by reference
                        into this report.

         Transitional Small Business Disclosure Format:

                         Yes         No  [X]


                             PART I

ITEM 1.   DESCRIPTION OF BUSINESS.

         AEI   Real  Estate  Fund  XV  Limited  Partnership  (the
"Partnership" or the "Registrant") is a limited partnership which
was  organized pursuant to the laws of the State of  Delaware  on
October  3,  1986.   The  registrant is  comprised  of  AEI  Fund
Management  86-A, Inc. (AFM) as Managing General Partner,  Robert
P.  Johnson as the Individual General Partner, and purchasers  of
partnership  units as Limited Partners.  The Partnership  offered
for  sale up to $7,500,000 of limited partnership interests  (the
"Units")  (7,500  Units  at  $1,000  per  Unit)  pursuant  to   a
registration  statement effective July 31, 1986. The  Partnership
commenced   operations   on  October   3,   1986   when   minimum
subscriptions  of  1,300 Limited Partnership  Units  ($1,300,000)
were  accepted.   The Partnership's offering terminated  December
30,  1986  when  the maximum subscription limit of 7,500  Limited
Partnership Units ($7,500,000) was reached.

        The Partnership was organized to acquire, initially on  a
debt-free   basis,  existing  and  newly  constructed  commercial
properties located in the United States, to lease such properties
to  tenants under triple net leases, to hold such properties  and
to  eventually sell such properties.  From subscription proceeds,
the  Partnership  purchased eight properties,  including  partial
interests in three properties, totaling $6,409,650.  The  balance
of  the  subscription  proceeds was applied to  organization  and
syndication  costs,  working capital reserves and  distributions,
which  represented a return of capital.  The properties  are  all
commercial,  single  tenant buildings  leased  under  triple  net
leases.

       The Partnership will hold its properties until the General
Partners  determine  that the sale or other  disposition  of  the
properties   is   advantageous  in  view  of  the   Partnership's
investment  objectives.  In deciding whether to sell  properties,
the  General  Partners will consider factors  such  as  potential
appreciation,  net  cash flow and income tax considerations.   In
addition,  certain lessees have been granted options to  purchase
properties  after  a  specified portion of  the  lease  term  has
elapsed.  Prior to commending the liquidation of the Partnership,
the  General Partners may reinvest the proceeds from the sale  of
properties  in  additional properties, provided  that  sufficient
proceeds  are distributed to the Limited Partners to pay  federal
and state income taxes related to any taxable gain recognized  as
a  result  of  the  sale.   At  any time  prior  to  selling  the
properties,  the  Partnership may mortgage one  or  more  of  its
properties in amounts not exceeding 50% of the fair market  value
of the property.

Leases

       Although there are variations in the specific terms of the
leases,  the following is a summary of the general terms  of  the
Partnership's  leases.   The properties  are  leased  to  various
tenants  under  triple  net  leases,  which  are  classified   as
operating  leases.   Under  a triple net  lease,  the  lessee  is
responsible  for  all real estate taxes, insurance,  maintenance,
repairs  and  operating expenses for the property.   The  initial
lease terms are for 10 to 20 years.  The leases provide for  base
annual  rental  payments,  payable in monthly  installments,  and
contain  rent  clauses which entitle the Partnership  to  receive
additional rent in future years based on stated rent increases or
if  gross  receipts  for  the property exceed  certain  specified
amounts, among other conditions.

        Most  of the leases provide the lessee with two to  three
five-year   renewal  options  subject  to  the  same  terms   and
conditions  as  the  initial lease.  Certain  lessees  have  been
granted  options  to  purchase the property.   Depending  on  the
lease,  the purchase price is either determined by a formula,  or
is  the  greater of the fair market value of the property or  the
amount determined by a formula.  In all cases, if the option were
to  be  exercised  by  the lessee, the purchase  price  would  be
greater than the original cost of the property.

ITEM 1.   DESCRIPTION OF BUSINESS. (Continued)

        The Partnership owned a 44.9042% interest in a restaurant
in  Waco, Texas, which was previously closed.  In June 1995,  the
Partnership re-leased the restaurant to Tex-Mex Cocina  of  Waco,
L.C.   The Lease Agreement had a primary term of eighteen  months
with an annual rental payment of $24,248.  In December, 1997, the
lessee  elected not to exercise the renewal option in the  lease.
The  restaurant was closed and listed for sale or  lease.   While
the  property was vacant, the Partnership was responsible for the
real  estate  taxes  and  other costs required  to  maintain  the
property.

        As  of  December 31, 1997, based on an analysis of market
conditions in the area, it was determined the fair value  of  the
Partnership's  interest  in the Waco property  was  approximately
$314,400.   In the fourth quarter of 1997, a charge to operations
for  real  estate impairment of $80,300 was recognized, which  is
the  difference between the book value at December  31,  1997  of
$394,700  and the estimated fair value of $314,400.   The  charge
was  recorded  against  the cost of the land  and  building.   In
December, 1998, the Partnership re-analyzed the market conditions
in  the  area  and determined the fair value of the Partnership's
interest  declined  to  approximately $126,000.   In  the  fourth
quarter  of  1998,  a  charge  to  operations  for  real   estate
impairment  of  $180,000 was recognized, which is the  difference
between  the book value at December 31, 1998 of $306,000 and  the
estimated  fair  value  of  $126,000.  The  charge  was  recorded
against the cost of the land and building.

        In March, 1999, the Partnership entered into an agreement
to  sell the Waco property to an unrelated third party.   On  May
10, 1999, the sale closed with the Partnership receiving net sale
proceeds of $128,879 which resulted in a net gain of $4,228.   At
the  time  of sale, the cost and related accumulated depreciation
was $287,710 and $163,059, respectively.

        On  January 24, 1997, the Partnership sold the Children's
World  daycare  center  in  Moreno  Valley,  California,  to   an
unrelated  third  party.   The Partnership  recognized  net  sale
proceeds of $1,301,342, which resulted in a net gain of $655,641.
At   the   time   of  sale,  the  cost  and  related  accumulated
depreciation   of  the  property  was  $963,717   and   $318,016,
respectively.   As  part  of the sale proceeds,  the  Partnership
received  a  Promissory  Note  for $1,003,000.   The  Note  bears
interest  at  a  10%  rate.  On April 23, 1997,  the  Partnership
received  the principal balance and outstanding accrued  interest
on the Note.  Investment income earned on the Note was $24,456.

        On November 18, 1997, the Partnership purchased a 30.794%
interest in a Timber Lodge Steakhouse in St. Cloud, Minnesota for
$510,635.   The  property is leased to Timber  Lodge  Steakhouse,
Inc. under a Lease Agreement with a primary term of 20 years  and
annual  rental payments of $51,537.  The remaining  interests  in
the  property  are  owned by AEI Real Estate  Fund  XVII  Limited
Partnership  and  AEI Institutional Net Lease  Fund  '93  Limited
Partnership, affiliates of the Partnership.

        During  1999,  the Partnership sold its interest  in  the
Timber  Lodge  Steakhouse  in  three  separate  transactions   to
unrelated third parties.  The Partnership received total net sale
proceeds  of  $566,111 which resulted in  a  total  net  gain  of
$81,898.  The total cost and related accumulated depreciation  of
the   property  was  $510,635  and  $26,421,  respectively.   The
majority  of  the  net  sale  proceeds  will  be  reinvested   in
additional property in the future.

ITEM 1.   DESCRIPTION OF BUSINESS. (Continued)

        On  December 23, 1997, the Partnership purchased a 26.05%
interest in a parcel of land in Troy, Michigan for $393,620.  The
land is leased to Champps Operating Corporation (Champps) under a
Lease Agreement with a primary term of 20 years and annual rental
payments  of  $27,553.  Effective June 20, 1998, the annual  rent
was  increased to $41,330.  Simultaneously with the  purchase  of
the  land,  the Partnership entered into a Development  Financing
Agreement  under which the Partnership advanced funds to  Champps
for  the  construction of a Champps Americana restaurant  on  the
site.   Initially,  the  Partnership  charged  interest  on   the
advances  at  a  rate  of 7.0%.  Effective  June  20,  1998,  the
interest  rate  was increased to 10.50%.  On September  3,  1998,
after  the  development was completed, the  Lease  Agreement  was
amended  to  require  annual rental payments  of  $133,356.   The
Partnership's share of the total acquisition costs, including the
cost of the land, was $1,330,265.  The remaining interests in the
property  are  owned  by  AEI  Real  Estate  Fund  XVII   Limited
Partnership,  AEI Real Estate Fund XVIII Limited Partnership  and
AEI  Net  Lease  Income  & Growth Fund XIX  Limited  Partnership,
affiliates of the Partnership.

        In  February,  1999,  the  Partnership  entered  into  an
agreement to sell the Fuddruckers property to an unrelated  third
party.   On  June 16, 1999, the sale closed with the  Partnership
receiving net sale proceeds of $1,145,424 which resulted in a net
gain  of  $270,045.  At the time of sale, the  cost  and  related
accumulated    depreciation   was   $1,138,296   and    $262,917,
respectively.

        On  July 14, 1999, the Partnership purchased a Children's
World  daycare  center in West Chester, Ohio for  $999,163.   The
property is leased to ARAMARK Educational Resources, Inc. under a
Lease Agreement with a primary term of 15 years and annual rental
payments of $93,162.

Major Tenants

        During  1999,  four  of  the Partnership's  lessees  each
contributed  more  than  ten percent of the  Partnership's  total
rental  revenue.  The major tenants in aggregate contributed  82%
of  the  Partnership's  total rental  revenue  in  1999.   It  is
anticipated  that, based on the minimum rental payments  required
under  the  leases, each major tenant will continue to contribute
more  than ten percent of the Partnership's total rental  revenue
in  2000  and future years.  The only exception is the tenant  in
the Fuddruckers restaurant will not continue to be a major tenant
since  the property was sold in June, 1999.  Any failure of these
major  tenants or business concepts could materially  affect  the
Partnership's net income and cash distributions.

Competition

        The  Partnership is a minor factor in the commercial real
estate  business.   There are numerous entities  engaged  in  the
commercial  real  estate  business which have  greater  financial
resources  than  the  Partnership.  At the time  the  Partnership
elects to dispose of its properties, the Partnership will  be  in
competition  with other persons and entities to find  buyers  for
its properties.

Employees

        The  Partnership  has  no direct  employees.   Management
services   are  performed  for  the  Partnership  by   AEI   Fund
Management, Inc., an affiliate of AFM.

ITEM 1.   DESCRIPTION OF BUSINESS. (Continued)

Year 2000 Compliance

       The Year 2000 issue is the result of computer systems that
use  two-digits  rather than four to define the applicable  year,
which  may prevent such systems from accurately processing  dates
ending  in  the  Year  2000 and beyond.   This  could  result  in
computer  system failures or disruption of operations, including,
but not limited to, an inability to process transactions, to send
or  receive  electronic data, or to engage  in  routine  business
activities.

        AEI  Fund  Management, Inc. (AEI) performs all management
services  for  the  Partnership.   In  1998,  AEI  completed   an
assessment  of  its  computer hardware and software  systems  and
replaced or upgraded certain computer hardware and software using
the  assistance  of  outside vendors.  AEI has  received  written
assurance  from  the equipment and software manufacturers  as  to
Year  2000  compliance.   The  costs associated  with  Year  2000
compliance  have not been, and are not expected to be,  material.
The  Partnership is not aware of any issues related to Year  2000
non  compliance  with AEI systems or the systems of  the  various
tenants.

ITEM 2.   DESCRIPTION OF PROPERTIES.

Investment Objectives

        The  Partnership's investment objectives are  to  acquire
existing or newly-developed commercial properties throughout  the
United  States that offer the potential for (i) preservation  and
protection  of  the  Partnership's capital; (ii)  partially  tax-
deferred  cash distributions from operations which  may  increase
through  rent  participation clauses or mandated rent  increases;
and  (iii) long-term capital gains through appreciation in  value
of   the  Partnership's  properties  realized  upon  sale.    The
Partnership  does not have a policy, and there is no  limitation,
as  to the amount or percentage of assets that may be invested in
any  one  property.  However, to the extent possible, the General
Partners  attempt  to  diversify the type  and  location  of  the
Partnership's properties.

Description of Properties

        The  Partnership's properties are all commercial,  single
tenant  buildings.  All the properties were acquired on  a  debt-
free  basis  and are leased to various tenants under  triple  net
leases, which are classified as operating leases. The Partnership
holds an undivided fee simple interest in the properties.  At any
time  prior  to  selling  the  properties,  the  Partnership  may
mortgage  one or more of its properties in amounts not  exceeding
50% of the fair market value of the property.

        The  Partnership's properties are subject to the  general
competitive conditions incident to the ownership of single tenant
investment  real estate.  Since each property is leased  under  a
long-term   lease,   there  is  little  competition   until   the
Partnership  decides to sell the property.   At  this  time,  the
Partnership will be competing with other real estate  owners,  on
both a national and local level, in attempting to find buyers for
the   properties.   In  the  event  of  a  tenant  default,   the
Partnership would be competing with other real estate owners, who
have  property vacancies, to attract a new tenant  to  lease  the
property.   The Partnership's tenants operate in industries  that
are  very  competitive and can be affected  by  factors  such  as
changes  in regional or local economies, seasonality and  changes
in consumer preference.

ITEM 2.   DESCRIPTION OF PROPERTIES. (Continued)

        The  following table is a summary of the properties  that
the Partnership acquired and owned as of December 31, 1999.

                                Total Property              Annual     Annual
                       Purchase   Acquisition               Lease     Rent Per
Property                 Date       Costs       Lessee      Payment    Sq. Ft.

Children's World                              ARAMARK
Daycare Center                               Educational
 Franconia Hills, VA  3/24/87  $  962,069  Resources, Inc.   $147,232  $29.74

JEMCARE Learning Center
 Haltom City, TX       4/3/87  $  417,213  JEMCARE, Inc.     $ 29,517  $ 7.03

Arby's Restaurant                                RTM
 Marshall, MI         7/30/87  $  586,425  Mid-America, Inc. $ 24,000  $ 7.75

                                           Huntington
Denny's Restaurant                         Restaurants
 Greenville, TX       1/10/96  $1,028,432  Group, Inc.       $120,314  $24.42

Tractor Supply
 Company Store
 Maryville, TN                             Tractor Supply
 (20%)                2/14/96  $  219,405  Company, Inc.     $ 23,452  $ 6.16

Champps
 Americana Restaurant                        Champps
 Troy, MI                                   Operating
 (26.05%)              9/3/98  $1,330,265  Corporation       $133,356  $46.16

Children's World                              ARAMARK
 Daycare Center                             Educational
 West Chester, OH     7/14/99  $  999,163  Resources, Inc.   $ 93,162   $11.80


        The  properties  listed above with  a  partial  ownership
percentage are owned with an affiliate of the Partnership  and/or
unrelated third parties.  The remaining interests in the  Tractor
Supply  Company  store  are owned by AEI Real  Estate  Fund  85-A
Limited  Partnership and an unrelated third party.  The remaining
interests  in the Champps Americana restaurant are owned  by  AEI
Real  Estate Fund XVII Limited Partnership, AEI Real Estate  Fund
XVIII Limited Partnership and AEI Net Lease Income & Growth  Fund
XIX Limited Partnership.

        The Partnership accounts for properties owned as tenants-
in-common  with  affiliated Partnerships and/or  unrelated  third
parties  using  the  proportionate  consolidation  method.   Each
tenant-in-common  owns  a  separate, undivided  interest  in  the
properties.   Any  tenant-in-common that holds more  than  a  50%
interest  does  not control decisions over the  other  tenant-in-
common  interests.   The financial statements reflect  only  this
Partnership's percentage share of the properties' land,  building
and equipment, liabilities, revenues and expenses.

        The  initial  Lease  terms are 20 years  except  for  the
JEMCARE property (10 years), the Tractor Supply Company store (14
years),  the  Arby's  and  Children's World  daycare  center  (15
years).  The Leases contain renewal options which may extend  the
Lease term an additional 9 to 15 years.

ITEM 2.   DESCRIPTION OF PROPERTIES. (Continued)

       Pursuant to the Lease Agreements, the tenants are required
to provide proof of adequate insurance coverage on the properties
they  occupy.   The General Partners believe the  properties  are
adequately covered by insurance and consider the properties to be
well-maintained and sufficient for the Partnership's operations.

         For  tax  purposes,  the  Partnership's  properties  are
depreciated  under the Modified Accelerated Cost Recovery  System
(MACRS).  The largest depreciable component of a property is  the
building  which  is depreciated, using the straight-line  method,
over 31.5 or 40 years depending on the date when it was placed in
service.  The remaining depreciable components of a property  are
personal  property and land improvements which  are  depreciated,
using  an  accelerated method, over 5 and 15 years, respectively.
Since the Partnership has tax-exempt Partners, the Partnership is
subject to the rules of Section 168(h)(6) of the Internal Revenue
Code  which  requires a percentage of the properties' depreciable
components to be depreciated over longer lives using the straight-
line method.  In general, the federal tax basis of the properties
for  tax depreciation purposes is the same as the basis for  book
depreciation purposes.

        During the last five years or since the date of purchase,
if  purchased  after December 31, 1994, all properties  were  100
percent occupied by the lessees noted.

ITEM 3.  LEGAL PROCEEDINGS.

       None.

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

       None.


                             PART II

ITEM 5.  MARKET FOR THE REGISTRANT'S PARTNERSHIP UNITS AND
         RELATED SECURITY HOLDER MATTERS.

        As of December 31, 1999, there were 658 holders of record
of the registrant's Limited Partnership Units.  There is no other
class  of  security outstanding or authorized.  The  registrant's
Units  are  not  a traded security in any market.   However,  the
Partnership  may  acquire Units from Limited  Partners  who  have
tendered  their  Units to the Partnership.   Such  Units  may  be
acquired  at  a  discount.  The Partnership is not  obligated  to
purchase  in any year more than 5% of the total number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

        During 1999, five Limited Partners redeemed a total of 21
Partnership  Units for $9,179 in accordance with the  Partnership
Agreement.  The Partnership acquired these Units using  Net  Cash
Flow  from  operations.  In prior years, a  total  of  twenty-one
Limited   Partners  redeemed  163.5  Units  for  $115,460.    The
redemptions increase the remaining Limited Partners' ownership in
the Partnership.

ITEM 5.  MARKET FOR THE REGISTRANT'S PARTNERSHIP UNITS AND
         RELATED SECURITY HOLDER MATTERS. (Continued)

        Cash distributions of $5,310 and $5,213 were made to  the
General  Partners  and $516,495 and $516,002  were  made  to  the
Limited   Partners   in   1999  and  1998,   respectively.    The
distributions  were made on a quarterly basis and  represent  Net
Cash  Flow,  as  defined.   These  distributions  should  not  be
compared with dividends paid on capital stock by corporations.

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS.

Results of Operations

        For  the  years  ended December 31, 1999  and  1998,  the
Partnership  recognized rental income of $787,139  and  $639,164,
respectively.   During the same periods, the  Partnership  earned
investment income of $22,507 and $43,304, respectively.  In 1999,
rental  income increased as a result of additional rent  received
from  three  property acquisitions in 1998 and 1999 and  deferred
income  recognized  as a result of the sale  of  the  Fuddruckers
restaurant  discussed below.  These increases  in  rental  income
were  partially  offset by a decrease in  rental  income  due  to
property sales and a decrease in investment income earned on  net
sale proceeds prior to the purchase of the additional properties.

        The Partnership owned a 44.9042% interest in a restaurant
in  Waco, Texas, which was previously closed.  In June 1995,  the
Partnership re-leased the restaurant to Tex-Mex Cocina  of  Waco,
L.C.   The Lease Agreement had a primary term of eighteen  months
with an annual rental payment of $24,248.  In December, 1997, the
lessee  elected not to exercise the renewal option in the  lease.
The  restaurant was closed and listed for sale or  lease.   While
the  property was vacant, the Partnership was responsible for the
real  estate  taxes  and  other costs required  to  maintain  the
property.

        As  of  December 31, 1997, based on an analysis of market
conditions in the area, it was determined the fair value  of  the
Partnership's  interest  in the Waco property  was  approximately
$314,400.   In the fourth quarter of 1997, a charge to operations
for  real  estate impairment of $80,300 was recognized, which  is
the  difference between the book value at December  31,  1997  of
$394,700  and the estimated fair value of $314,400.   The  charge
was  recorded  against  the cost of the land  and  building.   In
December, 1998, the Partnership re-analyzed the market conditions
in  the  area  and determined the fair value of the Partnership's
interest  declined  to  approximately $126,000.   In  the  fourth
quarter  of  1998,  a  charge  to  operations  for  real   estate
impairment  of  $180,000 was recognized, which is the  difference
between  the book value at December 31, 1998 of $306,000 and  the
estimated  fair  value  of  $126,000.  The  charge  was  recorded
against the cost of the land and building.

        In March, 1999, the Partnership entered into an agreement
to  sell the Waco property to an unrelated third party.   On  May
10, 1999, the sale closed with the Partnership receiving net sale
proceeds of $128,879 which resulted in a net gain of $4,228.   At
the  time  of sale, the cost and related accumulated depreciation
was $287,710 and $163,059, respectively.

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

        During  the years ended December 31, 1999 and  1998,  the
Partnership   paid   Partnership   administration   expenses   to
affiliated parties of $110,722 and $105,990, respectively.  These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and correspondence to the Limited Partners.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $18,187 and $31,492, respectively.   These  expenses
represent  direct payments to third parties for legal and  filing
fees,  direct administrative costs, outside audit and  accounting
costs,  taxes, insurance and other property costs.  The  decrease
in  expenses  in 1999, when compared to 1998, is  mainly  due  to
expenses incurred in 1998 related to the Waco property.

       As of December 3l, 1999, the Partnership's annualized cash
distribution  rate  was  7.5%,  based  on  the  Adjusted  Capital
Contribution.   Distributions of Net Cash  Flow  to  the  General
Partners were subordinated to the Limited Partners as required in
the Partnership Agreement.  As a result, 99% of distributions and
income  were allocated to Limited Partners and 1% to the  General
Partners.

        Inflation  has  had  a  minimal  effect  on  income  from
operations.   It is expected that increases in sales  volumes  of
the  tenants, due to inflation and real sales growth, will result
in  an  increase  in rental income over the term of  the  Leases.
Inflation  also  may  cause  the  Partnership's  real  estate  to
appreciate in value.  However, inflation and changing prices  may
also  have  an  adverse impact on the operating  margins  of  the
properties' tenants which could impair their ability to pay  rent
and subsequently reduce the Partnership's Net Cash Flow available
for distributions.

       The Year 2000 issue is the result of computer systems that
use  two-digits  rather than four to define the applicable  year,
which  may prevent such systems from accurately processing  dates
ending  in  the  Year  2000 and beyond.   This  could  result  in
computer  system failures or disruption of operations, including,
but not limited to, an inability to process transactions, to send
or  receive  electronic data, or to engage  in  routine  business
activities.

        AEI  Fund  Management, Inc. (AEI) performs all management
services  for  the  Partnership.   In  1998,  AEI  completed   an
assessment  of  its  computer hardware and software  systems  and
replaced or upgraded certain computer hardware and software using
the  assistance  of  outside vendors.  AEI has  received  written
assurance  from  the equipment and software manufacturers  as  to
Year  2000  compliance.   The  costs associated  with  Year  2000
compliance  have not been, and are not expected to be,  material.
The  Partnership is not aware of any issues related to Year  2000
non  compliance  with AEI systems or the systems of  the  various
tenants.

Liquidity and Capital Resources

        During  1999,  the Partnership's cash balances  increased
$848,008  mainly as a result of cash generated from the  sale  of
property, which was partially offset by cash used to purchase  an
additional  property.  Net cash provided by operating  activities
increased from $511,756 in 1998 to $543,245 in 1999 mainly  as  a
result  of  an increase in income and a decrease in  expenses  in
1999, which was partially offset by net timing differences in the
collection  of  payments  from the lessees  and  the  payment  of
expenses.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from  the sale of real estate.  In 1999 and 1998, the Partnership
generated  cash flow from the sale of real estate  of  $1,840,414
and $-0-, respectively.  During the same periods, the Partnership
expended $1,005,038 and $822,125, respectively, to invest in real
properties (inclusive of acquisition expenses) as the Partnership
reinvested the cash generated from the property sales.

        On  December 23, 1997, the Partnership purchased a 26.05%
interest in a parcel of land in Troy, Michigan for $393,620.  The
land is leased to Champps Operating Corporation (Champps) under a
Lease Agreement with a primary term of 20 years and annual rental
payments  of  $27,553.  Effective June 20, 1998, the annual  rent
was  increased to $41,330.  Simultaneously with the  purchase  of
the  land,  the Partnership entered into a Development  Financing
Agreement  under which the Partnership advanced funds to  Champps
for  the  construction of a Champps Americana restaurant  on  the
site.   Initially,  the  Partnership  charged  interest  on   the
advances  at  a  rate  of 7.0%.  Effective  June  20,  1998,  the
interest  rate  was increased to 10.50%.  On September  3,  1998,
after  the  development was completed, the  Lease  Agreement  was
amended  to  require  annual rental payments  of  $133,356.   The
Partnership's share of the total acquisition costs, including the
cost of the land, was $1,330,265.  The remaining interests in the
property  are  owned  by  AEI  Real  Estate  Fund  XVII   Limited
Partnership,  AEI Real Estate Fund XVIII Limited Partnership  and
AEI  Net  Lease  Income  & Growth Fund XIX  Limited  Partnership,
affiliates of the Partnership.

        In  February,  1999,  the  Partnership  entered  into  an
agreement to sell the Fuddruckers property to an unrelated  third
party.   On  June 16, 1999, the sale closed with the  Partnership
receiving net sale proceeds of $1,145,424 which resulted in a net
gain  of  $270,045.  At the time of sale, the  cost  and  related
accumulated    depreciation   was   $1,138,296   and    $262,917,
respectively.

       In June, 1994, the Partnership received a lump sum payment
of $210,277 as compensation for certain modifications made to the
Fuddruckers'  Lease.   The  lump sum payment  was  recognized  as
income over the Lease term using the straight line method.  As  a
result  of the sale, the Lease Agreement was terminated  and  the
Partnership  recognized  the balance of the  deferred  income  of
$136,747 in the second quarter of 1999.

        On  July 14, 1999, the Partnership purchased a Children's
World  daycare  center in West Chester, Ohio for  $999,163.   The
property is leased to ARAMARK Educational Resources, Inc. under a
Lease Agreement with a primary term of 15 years and annual rental
payments of $93,162.

        During  1999,  the Partnership sold its interest  in  the
Timber  Lodge  Steakhouse  in  three  separate  transactions   to
unrelated third parties.  The Partnership received total net sale
proceeds  of  $566,111 which resulted in  a  total  net  gain  of
$81,898.  The total cost and related accumulated depreciation  of
the   property  was  $510,635  and  $26,421,  respectively.   The
majority  of  the  net  sale  proceeds  will  be  reinvested   in
additional property in the future.

       The Partnership's primary use of cash flow is distribution
and  redemption  payments to Partners.  The Partnership  declares
its  regular  quarterly  distributions before  the  end  of  each
quarter and pays the distribution in the first week after the end
of  each quarter.  The Partnership attempts to maintain a  stable
distribution  rate from quarter to quarter.  Redemption  payments
are  paid  to  redeeming Partners in the fourth quarter  of  each
year.

ITEM 6.  MANAGEMENT'S DISCUSSION AND ANALYSIS. (Continued)

        The  Partnership may acquire Units from Limited  Partners
who have tendered their Units to the Partnership.  Such Units may
be  acquired at a discount.  The Partnership is not obligated  to
purchase  in any year more than 5% of the total number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

        During 1999, five Limited Partners redeemed a total of 21
Partnership  Units for $9,179 in accordance with the  Partnership
Agreement.  The Partnership acquired these Units using  Net  Cash
Flow  from  operations.  In prior years, a  total  of  twenty-one
Limited   Partners  redeemed  163.5  Units  for  $115,460.    The
redemptions increase the remaining Limited Partners' ownership in
the Partnership.

       The continuing rent payments from the properties, together
with  cash generated from the property sales, should be  adequate
to  fund  continuing  distributions and  meet  other  Partnership
obligations on both a short-term and long-term basis.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions
of the Private Securities Litigation Reform Act of 1995

         The   foregoing  Management's  Discussion  and  Analysis
contains various "forward looking  statements" within the meaning
of   federal   securities   laws  which  represent   management's
expectations  or  beliefs  concerning  future  events,  including
statements  regarding anticipated application of  cash,  expected
returns  from rental income, growth in revenue, taxation  levels,
the  sufficiency  of  cash to meet operating expenses,  rates  of
distribution,  and  other  matters.   These,  and  other  forward
looking statements made by the Partnership, must be evaluated  in
the   context  of  a  number  of  factors  that  may  affect  the
Partnership's  financial  condition and  results  of  operations,
including the following:

<BULLET>  Market  and economic conditions which  affect  the
          value  of the properties the Partnership owns  and  the
          cash from rental income such properties generate;

<BULLET>  the federal income tax consequences of rental
          income,  deductions, gain on sales and other items  and
          the affects of these consequences for investors;

<BULLET>  resolution  by  the  General   Partners   of
          conflicts with which they may be confronted;

<BULLET>  the  success  of  the  General  Partners   of
          locating   properties   with  favorable   risk   return
          characteristics;

<BULLET>  the effect of tenant defaults; and

<BULLET>  the condition of the industries in which  the
          tenants of properties owned by the Partnership operate.

ITEM 7.   FINANCIAL STATEMENTS.

       See accompanying Index to Financial Statements.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  INDEX TO FINANCIAL STATEMENTS





Report of Independent Auditors

Balance Sheet as of December 31, 1999 and 1998

Statements for the Years Ended December 31, 1999 and 1998:

     Income

     Cash Flows

     Changes in Partners' Capital

Notes to Financial Statements



                 REPORT OF INDEPENDENT AUDITORS



To the Partners:
AEI Real Estate Fund XV Limited Partnership
St. Paul, Minnesota



      We  have audited the accompanying balance sheet of AEI Real
Estate   Fund   XV   Limited  Partnership  (a  Delaware   limited
partnership)  as  of December 31, 1999 and 1998 and  the  related
statements of income, cash flows and changes in partners' capital
for  the  years then ended.  These financial statements  are  the
responsibility    of   the   Partnership's    management.     Our
responsibility  is  to  express an  opinion  on  these  financial
statements based on our audits.

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

      In  our opinion, the financial statements referred to above
present  fairly, in all material respects, the financial position
of AEI Real Estate Fund XV Limited Partnership as of December 31,
1999  and  1998, and the results of its operations and  its  cash
flows  for  the  years then ended, in conformity  with  generally
accepted accounting principles.



Minneapolis,  Minnesota         Boulay, Heutmaker, Zibell & Co. P.L.L.P.
January 25, 2000                Certified Public Accountants

<PAGE>
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                          BALANCE SHEET

                           DECEMBER 31

                             ASSETS

                                                   1999            1998

CURRENT ASSETS:
  Cash and Cash Equivalents                    $   956,627     $   108,619
  Receivables                                       22,460          29,698
                                                -----------     -----------
      Total Current Assets                         979,087         138,317
                                                -----------     -----------
INVESTMENTS IN REAL ESTATE:
  Land                                           1,501,655       1,986,854
  Buildings and Equipment                        4,041,317       4,493,596
  Property Acquisition Costs                         5,875               0
  Accumulated Depreciation                        (931,974)     (1,246,791)
                                                -----------     -----------
      Net Investments in Real Estate             4,616,873       5,233,659
                                                -----------     -----------
          Total Assets                         $ 5,595,960     $ 5,371,976
                                                ===========     ===========


                       LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.         $    24,819     $    28,932
  Distributions Payable                            117,276         116,905
  Deferred Income                                        0          15,480
                                                -----------     -----------
      Total Current Liabilities                    142,095         161,317
                                                -----------     -----------

DEFERRED INCOME - Net Of Current Portion                 0         125,137

PARTNERS' CAPITAL (DEFICIT):
  General Partners                                  (8,923)        (12,606)
  Limited Partners, $1,000 Unit value;
   7,500 Units authorized and issued;
   7,316 and 7,337 Units outstanding
   in 1999 and 1998, respectively                5,462,788       5,098,128
                                                -----------     -----------
     Total Partners' Capital                     5,453,865       5,085,522
                                                -----------     -----------
       Total Liabilities and Partners' Capital $ 5,595,960     $ 5,371,976
                                                ===========     ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                       STATEMENT OF INCOME

                 FOR THE YEARS ENDED DECEMBER 3l


                                                     1999            1998

INCOME:
  Rent                                           $   787,139     $   639,164
  Investment Income                                   22,507          43,304
                                                  -----------     -----------
      Total Income                                   809,646         682,468
                                                  -----------     -----------

EXPENSES:
  Partnership Administration - Affiliates            110,722         105,990
  Partnership Administration and Property
     Management - Unrelated Parties                   18,187          31,492
  Depreciation                                       137,580         125,996
  Real Estate Impairment                                   0         180,000
                                                  -----------     -----------
      Total Expenses                                 266,489         443,478
                                                  -----------     -----------

OPERATING  INCOME                                    543,157         238,990

GAIN ON SALE OF REAL ESTATE                          356,170               0
                                                  -----------     -----------
NET INCOME                                       $   899,327     $   238,990
                                                  ===========     ===========

NET INCOME ALLOCATED:
  General Partners                               $     8,993     $     2,390
  Limited Partners                                   890,334         236,600
                                                  -----------     -----------
                                                 $   899,327     $   238,990
                                                  ===========     ===========

NET INCOME PER LIMITED PARTNERSHIP UNIT
(7,331 and 7,337 weighted average Units outstanding
 in 1999 and 1998, respectively)                 $    121.45     $     32.25
                                                  ===========     ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                     STATEMENT OF CASH FLOWS

                 FOR THE YEARS ENDED DECEMBER 31


                                                       1999          1998

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net Income                                        $   899,327   $   238,990

 Adjustments To Reconcile Net Income
 To Net Cash Provided By Operating Activities:
     Depreciation                                      137,580       125,996
     Real Estate Impairment                                  0       180,000
     Gain on Sale of Real Estate                      (356,170)            0
     (Increase) Decrease in Receivables                  7,238       (14,252)
     Decrease in Payable to
         AEI Fund Management, Inc.                      (4,113)       (3,498)
     Decrease in Deferred Income                      (140,617)      (15,480)
                                                    -----------   -----------
       Total Adjustments                              (356,082)      272,766
                                                    -----------   -----------
       Net Cash Provided By
           Operating Activities                        543,245       511,756
                                                    -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Investments in Real Estate                        (1,005,038)     (822,125)
  Proceeds from Sale of Real Estate                  1,840,414             0
                                                    -----------   -----------
       Net Cash Provided By (Used For)
          Investing Activities                         835,376      (822,125)
                                                    -----------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase in Distributions Payable                        371           234
  Distributions to Partners                           (521,712)     (521,215)
  Redemption Payments                                   (9,272)            0
                                                    -----------   -----------
       Net Cash Used For
          Financing Activities                        (530,613)     (520,981)
                                                    -----------   -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                                848,008      (831,350)

CASH AND CASH EQUIVALENTS, beginning of period         108,619       939,969
                                                    -----------   -----------
CASH AND CASH EQUIVALENTS, end of period           $   956,627   $   108,619
                                                    ===========   ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

            STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                 FOR THE YEARS ENDED DECEMBER 31


                                                                    Limited
                                                                  Partnership
                              General    Limited                     Units
                              Partners   Partners     Total       Outstanding


BALANCE, December 31, 1997  $ (9,783)  $ 5,377,530  $ 5,367,747     7,336.55

  Distributions               (5,213)     (516,002)    (521,215)

  Net Income                   2,390       236,600      238,990
                             ---------  -----------  -----------   ----------
BALANCE, December 31, 1998   (12,606)    5,098,128    5,085,522     7,336.55

  Distributions               (5,217)     (516,495)    (521,712)

  Redemption Payments            (93)       (9,179)      (9,272)      (21.00)

  Net Income                   8,993       890,334      899,327
                             ---------  -----------  -----------   ----------
BALANCE, December 31, 1999  $ (8,923)  $ 5,462,788  $ 5,453,865     7,315.55
                             =========  ===========  ===========   ==========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(1)  Organization -

     AEI  Real  Estate Fund XV Limited Partnership  (Partnership)
     was  formed  to  acquire and lease commercial properties  to
     operating tenants.  The Partnership's operations are managed
     by  AEI  Fund  Management  86-A, Inc.  (AFM),  the  Managing
     General Partner.  Robert P. Johnson, the President and  sole
     shareholder of AFM, serves as the Individual General Partner
     and  an  affiliate of AFM, AEI Fund Management, Inc.  (AEI),
     performs the administrative and operating functions for  the
     Partnership.

     The   terms  of  the  Partnership  offering  called  for   a
     subscription  price of $1,000 per limited partnership  unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced  operations  on  October  3,  1986  when   minimum
     subscriptions    of   1,300   Limited   Partnership    Units
     ($1,300,000)  were  accepted.  On  December  30,  1986,  the
     offering  terminated when the maximum subscription limit  of
     7,500 Limited Partnership Units ($7,500,000) was reached.

     Under  the  terms of the Limited Partnership Agreement,  the
     Limited  Partners and General Partners contributed funds  of
     $7,500,000 and $1,000, respectively.  During operations, any
     Net  Cash  Flow,  as  defined, which  the  General  Partners
     determine  to  distribute will be  distributed  90%  to  the
     Limited  Partners and 10% to the General Partners; provided,
     however,  that  such distributions to the  General  Partners
     will be subordinated to the Limited Partners first receiving
     an annual, noncumulative distribution of Net Cash Flow equal
     to  10%  of their Adjusted Capital Contribution, as defined,
     and,  provided  further, that in no event will  the  General
     Partners  receive  less than 1% of such Net  Cash  Flow  per
     annum.   Distributions to the Limited Partners will be  made
     pro rata by Units.

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of properties which the General Partners determine
     to distribute will, after provisions for debts and reserves,
     be  paid  in  the following manner:  (i) first, 99%  to  the
     Limited  Partners and 1% to the General Partners  until  the
     Limited  Partners  receive an amount  equal  to:  (a)  their
     Adjusted Capital Contribution plus (b) an amount equal to 6%
     of their Adjusted Capital Contribution per annum, cumulative
     but not compounded, to the extent not previously distributed
     from  Net  Cash Flow; (ii) next, 99% to the Limited Partners
     and  1%  to the General Partners until the Limited  Partners
     receive  an  amount equal to 14% of their  Adjusted  Capital
     Contribution  per annum, cumulative but not  compounded,  to
     the  extent not previously distributed; (iii) next,  to  the
     General  Partners  until  cumulative  distributions  to  the
     General  Partners under Items (ii) and (iii)  equal  15%  of
     cumulative  distributions to all Partners under  Items  (ii)
     and (iii).  Any remaining balance will be distributed 85% to
     the  Limited  Partners  and  15% to  the  General  Partners.
     Distributions to the Limited Partners will be made pro  rata
     by Units.

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(1)  Organization - (Continued)

     For  tax  purposes,  profits  from  operations,  other  than
     profits  attributable  to  the  sale,  exchange,  financing,
     refinancing  or  other  disposition  of  property,  will  be
     allocated  first  in the same ratio in  which,  and  to  the
     extent,  Net  Cash Flow is distributed to the  Partners  for
     such year.  Any additional profits will be allocated 90%  to
     the  Limited  Partners and 10% to the General Partners.   In
     the  event  no Net Cash Flow is distributed to  the  Limited
     Partners,  90%  of each item of income, gain or  credit  for
     each  respective  year  shall be allocated  to  the  Limited
     Partners,  and 10% of each such item shall be  allocated  to
     the  General Partners.  Net losses from operations  will  be
     allocated 98% to the Limited Partners and 2% to the  General
     Partners.

     For  tax purposes, profits arising from the sale, financing,
     or  other  disposition  of property  will  be  allocated  in
     accordance  with the Partnership Agreement as  follows:  (i)
     first,  to  those  Partners with deficit balances  in  their
     capital  accounts  in an amount equal to  the  sum  of  such
     deficit  balances; (ii) second, 99% to the Limited  Partners
     and  1%  to the General Partners until the aggregate balance
     in  the Limited Partners' capital accounts equals the sum of
     the Limited Partners' Adjusted Capital Contributions plus an
     amount  equal to 14% of their Adjusted Capital Contributions
     per  annum, cumulative but not compounded, to the extent not
     previously  allocated; (iii) third, to the General  Partners
     until  cumulative allocations to the General Partners  equal
     15%  of cumulative allocations.  Any remaining balance  will
     be  allocated  85% to the Limited Partners and  15%  to  the
     General  Partners.   Losses will be  allocated  98%  to  the
     Limited Partners and 2% to the General Partners.

     The  General Partners are not required to currently  fund  a
     deficit   capital   balance.   Upon   liquidation   of   the
     Partnership or withdrawal by a General Partner, the  General
     Partners will contribute to the Partnership an amount  equal
     to  the  lesser  of  the deficit balances in  their  capital
     accounts  or  1%  of  total Limited  Partners'  and  General
     Partners' capital contributions.

(2)  Summary of Significant Accounting Policies -

     Financial Statement Presentation

       The  accounts  of  the Partnership are maintained  on  the
       accrual  basis of accounting for both federal  income  tax
       purposes and financial reporting purposes.

     Accounting Estimates

       Management  uses  estimates and assumptions  in  preparing
       these  financial statements in accordance  with  generally
       accepted  accounting  principles.   Those  estimates   and
       assumptions may affect the reported amounts of assets  and
       liabilities,  the  disclosure  of  contingent  assets  and
       liabilities,  and  the  reported  revenues  and  expenses.
       Actual results could differ from those estimates.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(2)  Summary of Significant Accounting Policies - (Continued)

       The  Partnership regularly assesses whether market  events
       and conditions indicate that it is reasonably possible  to
       recover  the carrying amounts of its investments  in  real
       estate  from  future operations and sales.   A  change  in
       those  market events and conditions could have a  material
       effect on the carrying amount of its real estate.

     Cash Concentrations of Credit Risk

       At  times  throughout  the year,  the  Partnership's  cash
       deposited  in  financial  institutions  may  exceed   FDIC
       insurance limits.

     Statement of Cash Flows

       For  purposes  of  reporting cash  flows,  cash  and  cash
       equivalents  may include cash in checking,  cash  invested
       in   money   market  accounts,  certificates  of  deposit,
       federal  agency notes and commercial paper with a term  of
       three months or less.

     Income Taxes

       The  income or loss of the Partnership for federal  income
       tax  reporting  purposes is includable in the  income  tax
       returns of the partners.  Accordingly, no recognition  has
       been  given to income taxes in the accompanying  financial
       statements.

       The  tax  return, the qualification of the Partnership  as
       such  for  tax  purposes, and the amount of  distributable
       partnership  income or loss are subject to examination  by
       federal   and  state  taxing  authorities.   If  such   an
       examination  results  in  changes  with  respect  to   the
       Partnership  qualification or in changes to  distributable
       Partnership  income  or loss, the taxable  income  of  the
       partners would be adjusted accordingly.

     Real Estate

       The  Partnership's real estate is leased under triple  net
       leases  classified as operating leases.   The  Partnership
       recognizes  rental revenue on the accrual basis  according
       to  the terms of the individual leases.  For leases  which
       contain  cost  of  living  increases,  the  increases  are
       recognized in the year in which they are effective.

       Real  estate is recorded at the lower of cost or estimated
       net   realizable  value.   The  Partnership  compares  the
       carrying amount of its properties to the estimated  future
       cash  flows expected to result from the property  and  its
       eventual  disposition.  If the sum of the expected  future
       cash  flows  is  less  than the  carrying  amount  of  the
       property,  the  Partnership recognizes an impairment  loss
       by  the  amount  by  which  the  carrying  amount  of  the
       property exceeds the fair value of the property.

       The  Partnership  has capitalized as Investments  in  Real
       Estate   certain   costs  incurred  in  the   review   and
       acquisition  of the properties.  The costs were  allocated
       to the land, buildings, and equipment.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(2)  Summary of Significant Accounting Policies - (Continued)

       The   buildings  and  equipment  of  the  Partnership  are
       depreciated  using the straight line method for  financial
       reporting purposes based on estimated useful lives  of  30
       years and 10 years, respectively.

       The  Partnership accounts for properties owned as tenants-
       in-common  with  affiliated Partnerships and/or  unrelated
       third   parties   using  the  proportionate  consolidation
       method.   Each tenant-in-common owns a separate, undivided
       interest  in  the  properties.  Any tenant-in-common  that
       holds  more than a 50% interest does not control decisions
       over  the other tenant-in-common interests.  The financial
       statements  reflect  only  this  Partnership's  percentage
       share  of  the  properties' land, building and  equipment,
       liabilities, revenues and expenses.

(3)  Related Party Transactions -

     The  Partnership owns a 20% interest in the  Tractor  Supply
     Company store.  The remaining interests in this property are
     owned  by AEI Real Estate Fund 85-A Limited Partnership,  an
     affiliate of the Partnership, and an unrelated third  party.
     The  Partnership  owns  a  26.05% interest  in  the  Champps
     Americana  restaurant.   The  remaining  interests  in  this
     property  are  owned by AEI Real Estate  Fund  XVII  Limited
     Partnership, AEI Real Estate Fund XVIII Limited  Partnership
     and   AEI  Net  Lease  Income  &  Growth  Fund  XIX  Limited
     Partnership, affiliates of the Partnership.  The Partnership
     owned a 44.9042% interest in a restaurant in Waco, Texas and
     a 60% interest in the Fuddruckers restaurant.  The remaining
     interests in these properties were owned by AEI Real  Estate
     Fund   XVI   Limited  Partnership,  an  affiliate   of   the
     Partnership.  As of December 31, 1998, the Partnership owned
     a  30.794%  interest  in the Timber Lodge  Steakhouse.   The
     remaining interests in this property are owned by  AEI  Real
     Estate  Fund  XVII Limited Partnership and  unrelated  third
     parties.   AEI  Institutional Net  Lease  Fund  '93  Limited
     Partnership, an affiliate of the Partnership, owned  38.412%
     interest in this property until the interest was sold  in  a
     series  of transactions to unrelated third parties  in  1998
     and 1999.  During 1999, the Partnership sold its interest in
     the property to unrelated third parties.

     AEI   and  AFM  received  the  following  compensation   and
     reimbursements for costs and expenses from the Partnership:

                                    Total Incurred by the Partnership
                                     for the Years Ended December 3l

                                                   1999            1998
a.AEI and AFM are reimbursed for all costs
  incurred in connection with managing the
  Partnership's operations, maintaining the
  Partnership's books and communicating
  the results of operations to the Limited
  Partners.                                      $ 110,722      $ 105,990
                                                  =========      =========

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(3)  Related Party Transactions - (Continued)

                                    Total Incurred by the Partnership
                                     for the Years Ended December 3l

                                                   1999            1998
b.AEI and AFM are reimbursed for all direct
  expenses they have paid on the Partnership's
  behalf to third parties.  These expenses included
  printing costs, legal and filing fees, direct
  administrative costs, outside audit and
  accounting costs, taxes, insurance and
  other property costs.                          $  18,187      $  31,492
                                                  =========      =========

c.AEI is reimbursed for all property acquisition
  costs incurred by it in acquiring properties on
  behalf of the Partnership.  The amounts are net
  of financing and commitment fees and expense
  reimbursements received by the Partnership from
  the lessees in the amount of $35,000 and $42,126
  for 1999 and 1998, respectively.               $ (16,706)     $ (32,464)
                                                  =========      =========

     The  payable  to  AEI Fund Management, Inc.  represents  the
     balance due for the services described in 3a, b and c.  This
     balance is non-interest bearing and unsecured and is  to  be
     paid in the normal course of business.

(4)  Investments in Real Estate -

     The  Partnership  leases its properties to  various  tenants
     through triple net leases, which are classified as operating
     leases.  Under a triple net lease, the lessee is responsible
     for  all  real estate taxes, insurance, maintenance, repairs
     and  operating expenses of the property.  The initial  Lease
     terms  are  20  years  except for the JEMCARE  property  (10
     years),  the  Tractor Supply Company store (14  years),  the
     Arby's  and the Children's World daycare center (15  years).
     The  Leases have renewal options which may extend the  lease
     term  an additional 9 to 15 years.  The Leases contain  rent
     clauses  which entitle the Partnership to receive additional
     rent  in future years based on stated rent increases  or  if
     gross  receipts  for the property exceed  certain  specified
     amounts, among other conditions.  Certain lessees have  been
     granted options to purchase the property.  Depending on  the
     lease, the purchase price is either determined by a formula,
     or  is  the greater of the fair market value of the property
     or the amount determined by a formula.  In all cases, if the
     option  were  to  be exercised by the lessee,  the  purchase
     price  would  be  greater  than the  original  cost  of  the
     property.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(4)  Investments in Real Estate - (Continued)

     The  Partnership's  properties are all  commercial,  single-
     tenant properties.  The Arby's restaurant was built in  1972
     and  extensively  remodeled in 1987.  The  JEMCARE  Learning
     Center  was  constructed  in  1986.   The  Children's  World
     Daycare  Center in Franconia Hills, Virginia was constructed
     in  1987.   The Partnership acquired all of these properties
     during  1987  and 1988.  The Denny's restaurant and  Tractor
     Supply  Company store were constructed in 1995 and  acquired
     in  1996.   The Champps Americana restaurant was constructed
     and  acquired in 1998.  The Children's World daycare  center
     in  West  Chester, Ohio was constructed in 1997 and acquired
     in   1999.    There  have  been  no  costs  capitalized   as
     improvements subsequent to the acquisitions.

     The   cost   of   the  properties  and  related  accumulated
     depreciation at December 31, 1999 are as follows:

                               Buildings and         Accumulated
Property                 Land    Equipment    Total  Depreciation

Children's World,
 Franconia Hills, VA     $  165,952  $  796,117  $  962,069    $ 373,014
JEMCARE Learning Center,
 Haltom City, TX            132,925     284,288     417,213      156,045
Arby's, Marshall, MI        120,499     465,926     586,425      228,907
Denny's, Greenville, TX     332,077     696,355   1,028,432       96,247
Tractor Supply Company,
 Maryville, TN               40,267     179,138     219,405       25,095
Champps Americana, Troy, MI 429,808     900,457   1,330,265       41,681
Children's World,
 West Chester, OH           280,127     719,036     999,163       10,985
                          ----------  ----------  ----------    ---------
                         $1,501,655  $4,041,317  $5,542,972    $ 931,974
                          ==========  ==========  ==========    =========

     On  December  23, 1997, the Partnership purchased  a  26.05%
     interest in a parcel of land in Troy, Michigan for $393,620.
     The   land   is  leased  to  Champps  Operating  Corporation
     (Champps) under a Lease Agreement with a primary term of  20
     years and annual rental payments of $27,553.  Effective June
     20,   1998,  the  annual  rent  was  increased  to  $41,330.
     Simultaneously   with  the  purchase  of   the   land,   the
     Partnership  entered into a Development Financing  Agreement
     under  which  the Partnership advanced funds to Champps  for
     the  construction of a Champps Americana restaurant  on  the
     site.   Initially, the Partnership charged interest  on  the
     advances  at a rate of 7.0%.  Effective June 20,  1998,  the
     interest  rate  was increased to 10.50%.   On  September  3,
     1998,   after  the  development  was  completed,  the  Lease
     Agreement  was amended to require annual rental payments  of
     $133,356.   The Partnership's share of the total acquisition
     costs, including the cost of the land, was $1,330,265.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(4)  Investments in Real Estate - (Continued)

     The Partnership owned a 44.9042% interest in a restaurant in
     Waco, Texas, which was previously closed.  In June 1995, the
     Partnership  re-leased the restaurant to Tex-Mex  Cocina  of
     Waco,  L.C.   The  Lease Agreement had  a  primary  term  of
     eighteen  months with an annual rental payment  of  $24,248.
     In  December,  1997, the lessee elected not to exercise  the
     renewal option in the lease.  The restaurant was closed  and
     listed  for  sale or lease.  While the property was  vacant,
     the  Partnership was responsible for the real  estate  taxes
     and other costs required to maintain the property.

     As  of  December  31, 1997, based on an analysis  of  market
     conditions in the area, it was determined the fair value  of
     the   Partnership's  interest  in  the  Waco  property   was
     approximately $314,400.  In the fourth quarter  of  1997,  a
     charge  to operations for real estate impairment of  $80,300
     was  recognized,  which is the difference between  the  book
     value  at  December 31, 1997 of $394,700 and  the  estimated
     fair value of $314,400.  The charge was recorded against the
     cost  of  the  land  and building.  In December,  1998,  the
     Partnership  re-analyzed the market conditions in  the  area
     and  determined the fair value of the Partnership's interest
     declined  to approximately $126,000.  In the fourth  quarter
     of  1998,  a charge to operations for real estate impairment
     of  $180,000 was recognized, which is the difference between
     the  book  value  at December 31, 1998 of $306,000  and  the
     estimated  fair value of $126,000.  The charge was  recorded
     against the cost of the land and building.

     In March, 1999, the Partnership entered into an agreement to
     sell the Waco property to an unrelated third party.  On  May
     10, 1999, the sale closed with the Partnership receiving net
     sale  proceeds of $128,879 which resulted in a net  gain  of
     $4,228.    At  the  time  of  sale,  the  cost  and  related
     accumulated   depreciation  was   $287,710   and   $163,059,
     respectively.

     In February, 1999, the Partnership entered into an agreement
     to  sell  the  Fuddruckers property to  an  unrelated  third
     party.   On  June  16,  1999,  the  sale  closed  with   the
     Partnership receiving net sale proceeds of $1,145,424  which
     resulted  in a net gain of $270,045.  At the time  of  sale,
     the cost and related accumulated depreciation was $1,138,296
     and $262,917, respectively.

     On  July  14,  1999, the Partnership purchased a  Children's
     World  daycare  center in West Chester, Ohio  for  $999,163.
     The  property  is  leased to ARAMARK Educational  Resources,
     Inc. under a Lease Agreement with a primary term of 15 years
     and annual rental payments of $93,162.

     During 1999, the Partnership sold its interest in the Timber
     Lodge Steakhouse in three separate transactions to unrelated
     third  parties.   The Partnership received  total  net  sale
     proceeds of $566,111 which resulted in a total net  gain  of
     $81,898.    The   total   cost   and   related   accumulated
     depreciation  of  the  property was  $510,635  and  $26,421,
     respectively.  The majority of the net sale proceeds will be
     reinvested in additional property in the future.

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(4)  Investments in Real Estate - (Continued)

     The Partnership has incurred net costs of $5,875 relating to
     the  review  of potential property acquisitions  which  have
     been   capitalized  and  will  be  allocated  to  properties
     acquired subsequent to December 31, 1999.

     The minimum future rental on the Leases for years subsequent
     to December 31, 1999 are as follows:

                       2000          $   574,418
                       2001              546,832
                       2002              549,702
                       2003              552,628
                       2004              555,610
                       Thereafter      4,915,803
                                      -----------
                                     $ 7,694,993
                                      ===========

     In  1999  and  1998,  the Partnership recognized  contingent
     rents of $22,978 and $30,861, respectively.

(5)  Deferred Income -

     In  June,  1994, Fuddruckers, Inc., the restaurant concept's
     franchisor,  acquired  the  operations  of  the  Fuddruckers
     restaurant  in  St. Louis, Missouri, and assumed  the  lease
     obligations  from  the  original lessee.   As  part  of  the
     agreement,  the Partnership amended the Lease to reduce  the
     annual   base   rent   from  $163,550   to   $138,246.    In
     consideration  for the lease assumption and  amendment,  the
     Partnership  received a lump sum payment from  the  original
     lessee of $210,277.  The lump sum payment was recognized  as
     income  over the Lease term, which was scheduled  to  expire
     January  31,  2008, using the straight line method.   As  of
     March  31,  1999 and December 31, 1998, the Partnership  had
     recognized  $73,530  and  $69,660,  respectively,  of   this
     payment  as income.  On June 16, 1999, the Partnership  sold
     the  Fuddruckers  restaurant and  the  Lease  Agreement  was
     terminated.   As  a result, the Partnership  recognized  the
     balance  of  the deferred income of $136,747 in  the  second
     quarter of 1999.

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(6)  Major Tenants -

     The following schedule presents rent revenue from individual
     tenants,   or  affiliated  groups  of  tenants,   who   each
     contributed more than ten percent of the Partnership's total
     rent revenue for the years ended December 31:

                                                   1999          1998
      Tenants             Industry

     Fuddruckers Inc.       Restaurant          $ 203,980     $ 153,727
     ARAMARK Educational
        Resources, Inc.     Child Care            190,169       144,562
     Champps Operating
        Corporation         Restaurant            133,356        65,027
     Huntington Restaurants
        Group, Inc.         Restaurant            120,125       117,856
                                                 ---------     ---------

     Aggregate rent revenue of major tenants    $ 647,630     $ 481,172
                                                 =========     =========

     Aggregate rent revenue of major tenants as
     a percentage of total rent revenue                82%           75%
                                                 =========     =========

(7)  Partners' Capital -

     Cash  distributions of $5,310 and $5,213 were  made  to  the
     General Partners and $516,495 and $516,002 were made to  the
     Limited  Partners for the years ended December 31, 1999  and
     1998,  respectively.   The  Limited Partners'  distributions
     represent  $70.45  and $70.33 per Limited  Partnership  Unit
     outstanding using 7,331 and 7,337 weighted average Units  in
     1999  and  1998, respectively.  The distributions  represent
     $70.45  and $32.25 per Unit of Net Income and $0 and  $38.08
     per  Unit of return of contributed capital in 1999 and 1998,
     respectively.

     Distributions  of  Net  Cash Flow to  the  General  Partners
     during  1999  and  1998  were subordinated  to  the  Limited
     Partners  as  required in the Partnership Agreement.   As  a
     result,  99%  of distributions and income were allocated  to
     the Limited Partners and 1% to the General Partners.

     The  Partnership may acquire Units from Limited Partners who
     have tendered their Units to the Partnership. Such Units may
     be acquired at a discount.  The Partnership is not obligated
     to  purchase in any year more than 5% of the number of Units
     outstanding at the beginning of the year.  In no event shall
     the  Partnership be obligated to purchase Units if,  in  the
     sole  discretion  of  the  Managing  General  Partner,  such
     purchase  would  impair  the capital  or  operation  of  the
     Partnership.


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(7)  Partners' Capital - (Continued)

     During  1999, five Limited Partners redeemed a total  of  21
     Partnership  Units  for  $9,179  in  accordance   with   the
     Partnership Agreement.  The Partnership acquired these Units
     using   Net  Cash  Flow  from  operations.   In  1998,   the
     Partnership  did  not  redeem any  Units  from  the  Limited
     Partners.   The  redemptions increase the remaining  Limited
     Partners' ownership in the Partnership.

     After  the  effect of redemptions and the return of  capital
     from   the   sale   of   property,  the   Adjusted   Capital
     Contribution,  as defined in the Partnership  Agreement,  is
     $941.37 per original $1,000 invested.

(8)  Income Taxes -

     The   following  is  a  reconciliation  of  net  income  for
     financial reporting purposes to income reported for  federal
     income tax purposes for the years ended December 31:

                                                      1999           1998

     Net Income for Financial
      Reporting Purposes                           $ 899,327      $ 238,990

     Depreciation for Tax Purposes
      (Over) Under Depreciation for Financial
      Reporting Purposes                               3,980         (1,337)

     Income Accrued for Tax Purposes
      Under Income for Financial
      Reporting Purposes                            (140,617)       (15,480)

     Real Estate Impairment Loss
      Not Recognized for
      Tax Purposes                                         0        180,000

     Gain on Sale of Real Estate for Tax Purposes
      Under Gain for Financial Reporting Purposes   (347,171)             0
                                                    ----------     ----------
           Taxable Income to Partners              $ 415,519      $ 402,173
                                                    ==========     ==========


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 1999 AND 1998

(8)  Income Taxes - (Continued)

     The  following is a reconciliation of Partners' capital  for
     financial  reporting purposes to Partners' capital  reported
     for federal income tax purposes for the years ended December
     31:

                                                     1999           1998
     Partners' Capital for
      Financial Reporting Purposes               $5,453,865      $5,085,522

     Adjusted Tax Basis of Investments
      in Real Estate Over Net Investments
      in Real Estate for Financial
      Reporting Purposes                             69,318         412,509

     Income Accrued for Tax Purposes
      Over Income for Financial
      Reporting Purposes                                  0         140,617

     Syndication Costs
      Treated as Reduction of Capital
      for Financial Reporting Purposes            1,054,819       1,054,819
                                                  ----------      ----------
           Partners' Capital for
              Tax Reporting Purposes             $6,578,002      $6,693,467
                                                  ==========      ==========

(9)  Fair Value of Financial Instruments -

     The estimated fair values of the financial instruments, none
     of  which  are held for trading purposes, are as follows  at
     December 31:

                                        1999                  1998
                               Carrying     Fair      Carrying    Fair
                                Amount     Value       Amount    Value

     Cash                     $     452   $     452   $     250   $     250
     Money Market Funds         956,175     956,175     108,369     108,369
                               ---------   ---------   ---------   ---------
          Total Cash and
            Cash Equivalents  $ 956,627   $ 956,627   $ 108,619   $ 108,619
                               =========   =========   =========   =========

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
        ACCOUNTING AND FINANCIAL DISCLOSURE.

       None.


                            PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
        PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE
        ACT.


        The  registrant  is  a  limited partnership  and  has  no
officers,  directors, or direct employees.  The General  Partners
of  the  registrant are Robert P. Johnson and AFM.   The  General
Partners  manage and control the Partnership's affairs  and  have
general  responsibility and the ultimate authority in all matters
affecting the Partnership's business.  The director and  officers
of AFM are as follows:

        Robert  P.  Johnson, age 55, is Chief Executive  Officer,
President  and  Director and has held these positions  since  the
formation  of  AFM  in December, 1985, and has  been  elected  to
continue in these positions until December, 2000.  From  1970  to
the  present, he has been employed exclusively in the  investment
industry,  specializing  in  tax-advantaged  limited  partnership
investments.   In  that  capacity, he has been  involved  in  the
development,  analysis, marketing and management  of  public  and
private investment programs investing in net lease properties  as
well  as  public  and  private investment programs  investing  in
energy  development.   Since  1971,  Mr.  Johnson  has  been  the
president,  a  director  and  a  registered  principal   of   AEI
Securities, Inc. (formerly AEI Incorporated), which is registered
with  the  Securities  and Exchange Commission  as  a  securities
broker-dealer,  is  a  member  of  the  National  Association  of
Securities  Dealers, Inc. (NASD) and is a member of the  Security
Investors  Protection Corporation (SIPC).  Mr. Johnson  has  been
president, a director and the principal shareholder of  AEI  Fund
Management,  Inc.,  a real estate management company  founded  by
him,  since 1978.  Mr. Johnson is currently a general partner  or
principal  of  the  general  partner  in  fifteen  other  limited
partnerships.

        Mark  E.  Larson,  age 47, is Executive  Vice  President,
Treasurer  and  Chief Financial Officer and has been  elected  to
continue in these positions until December, 2000.  Mr. Larson has
been  Treasurer and Executive Vice President since December, 1987
and  Chief  Financial Officer since January, 1990.   In  January,
1993,  Mr.  Larson was elected to serve as Secretary of  AFM  and
will continue to serve until December, 2000.  Mr. Larson has been
employed  by  AEI  Fund Management, Inc. and affiliated  entities
since  1985.   From  1979  to 1985, Mr. Larson  was  with  Apache
Corporation as manager of Program Accounting responsible for  the
accounting  and reports for approximately 45 public partnerships.
Mr.   Larson   is  responsible  for  supervising  the  accounting
functions of AFM and the registrant.

ITEM 10.  EXECUTIVE COMPENSATION.

        The General Partner and affiliates are reimbursed at cost
for  all  services performed on behalf of the registrant and  for
all  third party expenses paid on behalf of the registrant.   The
cost for services performed on behalf of the registrant is actual
time  spent  performing such services plus  an  overhead  burden.
These  services include organizing the registrant  and  arranging
for  the  offer  and  sale  of Units,  reviewing  properties  for
acquisition and rendering administrative and management services.


ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
          MANAGEMENT.

        The following table sets forth information pertaining  to
the   ownership  of  the  Units  by  each  person  known  by  the
Partnership to beneficially own 5% or more of the Units, by  each
General  Partner, and by each officer or director of the Managing
General Partner as of February 29, 2000:

          Name and Address                        Number of     Percent
        of Beneficial Owner                       Units Held    of Class

   AEI Fund Management 86-A, Inc.                      3            *
   1300 Minnesota World Trade Center
   30 East 7th Street, St. Paul, Minnesota 55101

   Robert P. Johnson                                   0            0%
   1300 Minnesota World Trade Center
   30 East 7th Street, St. Paul, Minnesota 55101

   Mark E. Larson                                  17.67            *
   1300 Minnesota World Trade Center
   30 East 7th Street, St. Paul, Minnesota 55101

   * Less than 1%

The  persons  set forth in the preceding table hold  sole  voting
power  and power of disposition with respect to all of the  Units
set forth opposite their names.  The General Partners know of  no
holders of more than 5% of the outstanding Units.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

        The  registrant,  AFM  and  its  affiliates  have  common
management and utilize the same facilities.  As a result, certain
administrative  expenses  are  allocated  among   these   related
entities.   All  of  such activities and any  other  transactions
involving the affiliates of the General Partner of the registrant
are  governed  by,  and  are conducted in  conformity  with,  the
limitations set forth in the Limited Partnership Agreement of the
registrant.  Reference is made to Note 3 on Pages 21 and  22  and
is incorporated herein by reference, for details of related party
transactions.


ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K AND FORM 8-K/A.

          A. Exhibits -
                              Description

                10.1   Net Lease Agreement dated
                       January  10, 1996, between the Partnership
                       and  Huntington  Restaurants  Group,  Inc.
                       relating to the property at 3103 W.  I-30,
                       Greenville,    Texas   (incorporated    by
                       reference  to  Exhibit 10.1  of  Form  8-K
                       filed  with the Commission on January  17,
                       1996).

ITEM 13.  EXHIBITS  AND  REPORTS ON FORM 8-K AND  FORM  8-K/A.
          (Continued)

          A. Exhibits -
                              Description

                10.2   Development   Financing
                       Agreement dated December 23, 1997  between
                       the  Partnership, AEI Net Lease  Income  &
                       Growth  Fund XIX Limited Partnership,  AEI
                       Real    Estate    Fund    XVIII    Limited
                       Partnership,  AEI  Real Estate  Fund  XVII
                       Limited     Partnership    and     Champps
                       Entertainment,   Inc.  relating   to   the
                       property  at  301  West Big  Beaver  Road,
                       Troy,  Michigan (incorporated by reference
                       to  Exhibit 10.8 of Form 10-KSB filed with
                       the Commission on March 23, 1998).

                10.3   Net Lease Agreement dated
                       December    23,    1997    between     the
                       Partnership,  AEI  Net  Lease   Income   &
                       Growth  Fund XIX Limited Partnership,  AEI
                       Real    Estate    Fund    XVIII    Limited
                       Partnership,  AEI  Real Estate  Fund  XVII
                       Limited     Partnership    and     Champps
                       Entertainment,   Inc.  relating   to   the
                       property  at  301  West Big  Beaver  Road,
                       Troy,  Michigan (incorporated by reference
                       to  Exhibit 10.9 of Form 10-KSB filed with
                       the Commission on March 23, 1998).

                10.4   First  Amendment  to  Net
                       Lease  Agreement dated September  3,  1998
                       between  the  Partnership, AEI  Net  Lease
                       Income   &   Growth   Fund   XIX   Limited
                       Partnership,  AEI Real Estate  Fund  XVIII
                       Limited Partnership, AEI Real Estate  Fund
                       XVII   Limited  Partnership  and   Champps
                       Entertainment,   Inc.  relating   to   the
                       property  at  301  West Big  Beaver  Road,
                       Troy,  Michigan (incorporated by reference
                       to  Exhibit  10.2 of Form 8-K  filed  with
                       the Commission on September 15, 1998).

                10.5   Purchase Agreement dated February  4,
                       1999  between  the Partnership,  AEI  Real
                       Estate  Fund  XVI Limited Partnership  and
                       Elizabeth   Cockrum   relating   to    the
                       property  at  2175 Barrett  Station  Road,
                       St.   Louis,  Missouri  (incorporated   by
                       reference  to  Exhibit 10.1  of  Form  8-K
                       filed  with  the Commission  on  June  21,
                       1999).

                10.6   Purchase Agreement dated  March  24,
                       1999  between  the Partnership,  AEI  Real
                       Estate  Fund  XVI Limited Partnership  and
                       Tom  Salome  relating to the  property  at
                       1812   North  Valley  Mills  Drive,  Waco,
                       Texas   (incorporated  by   reference   to
                       Exhibit  10.1  of Form 10-QSB  filed  with
                       the Commission on July 30, 1999).

                10.7   Amendment  to  Purchase   Agreement
                       dated    May   19,   1999   between    the
                       Partnership,  AEI  Real  Estate  Fund  XVI
                       Limited  Partnership and Elizabeth Cockrum
                       relating  to the property at 2175  Barrett
                       Station    Road,   St.   Louis,   Missouri
                       (incorporated  by  reference  to   Exhibit
                       10.2   of   Form   8-K  filed   with   the
                       Commission on June 21, 1999).

ITEM 13. EXHIBITS  AND  REPORTS ON FORM 8-K AND  FORM  8-K/A.
         (Continued)

         A. Exhibits -
                                 Description

                10.8   Purchase  and  Sale  Agreement   and
                       Escrow  Instructions dated  May  20,  1999
                       between  AEI  Fund  Management,  Inc.  and
                       ARAMARK   Educational   Resources,    Inc.
                       relating  to  the property at 7236  Tylers
                       Corner,  West  Chester, Ohio (incorporated
                       by  reference to Exhibit 10.1 of Form  8-K
                       filed  with  the Commission  on  July  26,
                       1999).

                10.9   Second  Assignment of  Purchase  and
                       Sale  Agreement  and  Escrow  Instructions
                       dated   June   18,   1999   between    the
                       Partnership,  AEI  Fund  Management,  Inc.
                       and  ARAMARK  Educational Resources,  Inc.
                       relating  to  the property at 7236  Tylers
                       Corner,  West  Chester, Ohio (incorporated
                       by  reference to Exhibit 10.2 of Form  8-K
                       filed  with  the Commission  on  July  26,
                       1999).

                10.10  Net Lease Agreement dated  July
                       14,   1999  between  the  Partnership  and
                       ARAMARK   Educational   Resources,    Inc.
                       relating  to  the property at 7236  Tylers
                       Corner,  West  Chester, Ohio (incorporated
                       by  reference to Exhibit 10.3 of Form  8-K
                       filed  with  the Commission  on  July  26,
                       1999).

                10.11  Purchase Agreement dated August
                       4,  1999  between the Partnership and  AEI
                       Institutional Net Lease Fund  '93  Limited
                       Partnership   and  VTA  Building   Company
                       relating  to  the property at 3950  Second
                       Street   South,   St.   Cloud,   Minnesota
                       (incorporated  by  reference  to   Exhibit
                       10.7   of  Form  10-QSB  filed  with   the
                       Commission on November 8, 1999).

                10.12  Purchase   Agreement    dated
                       October  6,  1999 between the  Partnership
                       and  Kenneth  F.  Cairns relating  to  the
                       property  3950  Second Street  South,  St.
                       Cloud,    Minnesota    (incorporated    by
                       reference  to Exhibit 10.8 of Form  10-QSB
                       filed  with the Commission on November  8,
                       1999).

                10.13  Purchase   Agreement    dated
                       October  7,  1999 between the  Partnership
                       and  Kathleen DeVoe Hans relating  to  the
                       property at 3950 Second Street South,  St.
                       Cloud,    Minnesota    (incorporated    by
                       reference  to Exhibit 10.9 of Form  10-QSB
                       filed  with the Commission on November  8,
                       1999).

                10.14  Purchase   Agreement    dated
                       November  18, 1999 between the Partnership
                       and  AEI  Real  Estate Fund  XVII  Limited
                       Partnership  and  Kilduff  1996  Revocable
                       Trust,  dated  June 20, 1996  relating  to
                       the  property at 3950 Second Street South,
                       St. Cloud, Minnesota.

                27     Financial  Data  Schedule
                       for year ended December 31, 1999.

         B. Reports on Form 8-K and Form 8-K/A - None.



                           SIGNATURES

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


                            AEI REAL ESTATE FUND XV
                            Limited Partnership
                            By: AEI Fund Management 86-A, Inc.
                                Its Managing General Partner


March 10, 2000              By: /s/ Robert P. Johnson
                                    Robert  P. Johnson, President and Director
                                    (Principal Executive Officer)


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

       Name                            Title                         Date


/s/ Robert P. Johnson  President (Principal Executive Officer)  March 10, 2000
    Robert P. Johnson  and Sole Director of Managing General
                       Partner

/s/ Mark E. Larson     Executive Vice President, Treasurer      March 10, 2000
    Mark E. Larson     and Chief Financial Officer
                       (Principal Accounting Officer)