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

                           FORM 10-KSB

[X]  Annual Report Under Section 13 or 15(d) of the Securities
   Exchange Act of  1934

   For the fiscal year ended   December 31, 2003

                                or

[ ]  Transition Report Under Section 13 or 15(d) of the
   Securities Exchange Act of 1934

   For the transition period from               to

   Commission File Number               0-16857

             Brauvin Income Properties  L.P. 6
       (Name of small business issuer in its charter)

              Delaware                        36-1276801
   (State or other jurisdiction of       (I.R.S. Employer
    incorporation or organization)      Identification No.)

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

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

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

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

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

                 Limited Partnership Interests
                         (Title of class)

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

Check if there is no disclosure of delinquent filers in response to
Item 405 of Regulation S-B is not contained in this form, and no
disclosure will be contained, to the best of issuer'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 ]

State issuer's revenues for its most recent year $387,900.

The aggregate sales price of the limited partnership interests of
the issuer (the "Units") to unaffiliated investors of the issuer
was $7,842,500.  This does not reflect market value.  This is the
price at which the Units were sold to the public.  There is no
current established trading market for these Units, nor have any of
the Units been sold within the last 60 days.

Portions of the Prospectus of the issuer dated May 30, 1986, as
supplemented September 3, 1986, October 28, 1986, December 30, 1986
and May 29, 1987 and filed pursuant to Rule 424(b) under the
Securities Act of 1933, as amended, are incorporated by reference
into Parts II and III of this Annual Report on Form 10-KSB.



                 BRAUVIN INCOME PROPERTIES L.P. 6
                  2003 FORM 10-KSB ANNUAL REPORT
                              INDEX

                              PART I
                                                                      Page
Item 1.  Description of Business . . . . . . . . . . . . . . . . . . . .3

Item 2.  Description of Properties . . . . . . . . . . . . . . . . . . .6

Item 3.  Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . 14

Item 4.  Submission of Matters to a Vote of Security
         Holders . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

                             PART II

Item 5.  Market for the Issuer's Limited Partnership
         Interests and Related Security Holder Matters . . . . . . . . 15

Item 6.  Management's Discussion and Analysis or Plan
         of Operation. . . . . . . . . . . . . . . . . . . . . . . . . 15

Item 7.  Consolidated Financial Statements and
         Supplementary Data. . . . . . . . . . . . . . . . . . . . . . 24

Item 8.  Changes in and Disagreements with Accountants on
         Accounting and Financial Disclosure . . . . . . . . . . . . . 24

Item 8a. Controls and Procedures. . . . . . . . . . . . . . . . . . .  24

                             PART III

Item 9.  Directors, Executive Officers, Promoters
         and Control Persons; Compliance with Section
         16(a) of the Exchange Act . . . . . . . . . . . . . . . . . . 25

Item 10. Executive Compensation. . . . . . . . . . . . . . . . . . . . 27

Item 11. Security Ownership of Certain Beneficial Owners
         and Management. . . . . . . . . . . . . . . . . . . . . . . . 27

Item 12. Certain Relationships and Related Transactions. . . . . . . . 28


Item 13. Exhibits, Consolidated Financial Statements and
         Reports on Form 8-K . . . . . . . . . . . . . . . . . . . . . 29

Item 14. Principal Accountant Fees and Services. . . . . . . . . . . . 30

Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31




                             PART I

Item 1. Description of Business.

  Brauvin Income Properties L.P. 6 (the "Partnership") is a
Delaware limited partnership organized for the purpose of
acquiring, operating, holding for investment and disposing of
commercial properties consisting principally of existing shopping
centers and, to a lesser extent, office and industrial buildings.
The General Partners of the Partnership are Brauvin 6, Inc. and
Jerome J. Brault.  On August 8, 1997, Mr. Cezar M. Froelich
resigned as a Individual General Partner effective 90 days from
August 14, 1997.  Brauvin 6, Inc. is owned by the A.G.E. Realty
Corporation Inc.(50%) and by Messrs. Brault (beneficially) (25%)
and Froelich (25%).  A.G. Edwards & Sons, Inc. and Brauvin
Securities, Inc., affiliates of the General Partners, were the
selling agents of the Partnership.  The Partnership is managed by
an affiliate of the General Partners.

  The Partnership was formed in April 1986.  The Partnership filed
a Registration Statement on Form S-11 with the Securities and
Exchange Commission which became effective on May 30, 1986.  The
offering was terminated on August 31, 1987 having sold $7,842,500
in limited partnership interests.

  The Partnership had acquired the land and buildings underlying
Delchamps Shopping Center ("Delchamps"), Shoppes on the Parkway
("Shoppes") and a Ponderosa Restaurant ("Ponderosa").

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$288,000 in net proceeds.

   On May 13, 2003, Shoppes was sold to an unaffiliated third
party for $6,157,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$449,000 in net proceeds.

   The General Partners originally intended to dispose of the
Partnership's properties approximately six to nine years after
acquisition of each property, with a view toward liquidation of the
Partnership.  Due to the past real estate market conditions and
economic trends in the areas where the Partnership's properties are
located, the General Partners believed it to be in the best
interest of the Partnership to retain the properties until such
time as the General Partners reasonably believed it was appropriate
to dispose of the Partnership's properties.  In order to make this
determination, the General Partners periodically evaluated market
conditions.  In 1998, the General Partners notified the Limited
Partners that they will explore various alternatives to sell the
Partnership's assets.  In this regard, the Partnership engaged
nationally known appraisal firms to value the Partnership's assets.
Additionally, the successor to one of these firms is assisting the
General Partners in determining the appropriate method and timing
for the disposition of the Partnership's assets.

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

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

   The restated limited partnership agreement (the "Agreement")
provides that the Partnership shall terminate December 31, 2025,
unless sooner terminated.  The General Partners shall in no event
dispose of the properties after that date.

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.

   On May 13, 2003, Shoppes was sold to an unaffiliated third
party for $6,157,000.

   On February 18, 2003, the Partnership sold a two-thirds
undivided interest in the Ponderosa Restaurant property for a sales
price of $600,000.  Pursuant to the terms of the agreement, the
Partnership maintains the control of both the sales process and the
management of the property and the holder of the two-thirds
interest is entitled to the first $580,000 of sales proceeds and
its allocable share of portion of the rent collected from the
tenant and is not required to fund any operating deficits.
Additionally, if the property is not sold within one year, the
Partnership is required to pay the buyer a monthly return on the
purchase price of 10% per annum for 6 months and 12% per annum for
an additional 12 months at the end of which time if the property
has not been sold, the Partnership is required to repurchase the
interest for a total consideration of $580,000.  Accordingly, the
Partnership's financial statements continue to include the
Ponderosa property and the results of its operations with the
purchaser's share shown as Venture partner's share.

    The Partnership will not purchase any additional properties.
Operations currently consist of operating the real estate
properties which have been managed by Brauvin Management Company
(an affiliate of the General Partners).  The focus of property
management activities has been improvement in the economic
performance of the properties with the goal of maximizing value to
the Partnership upon disposition.

   The Partnership has no employees.

Market Conditions/Competition

   The Partnership faces active competition in all aspects of its
business and must compete with entities which own properties
similar in type to those owned by the Partnership.  Competition
exists in such areas as attracting and retaining creditworthy
tenants, financing capital improvements and selling properties.
Many of the factors affecting the ability of the Partnership to
compete are beyond the Partnership's control, such as softened
markets caused by an oversupply of similar rental facilities,
declining performance in the local economy in which a property is
located, population shifts, reduced availability and increased cost
of financing, changes in zoning laws or changes in patterns of the
needs of users.  The marketability of the properties may also be
affected by prevailing interest rates and existing tax laws.  The
Partnership has retained ownership of its properties for periods
longer than anticipated at acquisition.

   The Partnership strives to maximize occupancy and, as such,
must adjust rents to attract and retain tenants.  One measure of a
market's relative strength or weakness is the current rental rate
demanded by non-anchor tenants.  These rates are for tenants who
generally sign leases of three to five years and are an indicator
of the "spot" rental market.  Expectations are that due to a stable
local economic environment, rental rates will remain flat or
increase slightly at the Partnership's properties.

   The Partnership, by virtue of its ownership of real estate, is
subject to federal and state laws and regulations covering various
environmental issues.  Management of the Partnership retains the
services of third parties who hold themselves out to be experts in
the field to assess a wide range of environmental issues and
conduct tests for environmental contamination.  Management believes
that all real estate owned by the Partnership is in full compliance
with applicable environmental laws and regulations.

Item 2. Description of Properties.

   The following is a summary of the real estate and improvements
owned by the Partnership at January 1, 2002 and subsequent
transactions related thereto.   For the purpose of the information
disclosed in this section, the following terms are defined as
follows:

   Occupancy Rate:  The occupancy rate is defined as the occupied
   square footage at December 31, divided by the total square
   footage excluding square footage of outparcels, if any.

   Average Annual Base Rent Per Square Foot:  The average annual
   base rent per square foot is defined as the total effective
   base rental income for the year divided by the average square
   feet occupied excluding outparcels, if any.

   Average Square Feet Occupied:  The average square feet occupied
   is calculated by averaging the occupied square feet at the
   beginning of the year with the occupied square feet at the end
   of the year excluding outparcels, if any.

   In the opinion of the General Partners, the Partnership has
provided for adequate insurance coverage of its real estate
investment properties.

   The Partnership has owned the properties described below:

(a) Delchamps Plaza North Shopping Center ("Delchamps")

   On November 12, 1987, the Partnership acquired Delchamps
located in Tuscaloosa, Alabama, for approximately $4,058,000.  The
purchase was funded with approximately $715,000 in cash at closing
and by assuming an existing first mortgage loan from Lincoln
National Life Insurance Company.  The mortgage had an original
principal balance of $3,375,000 and a balance of $3,343,000 in
November 1987.  The loan bore interest at a rate of 9.375% per
annum and matured on December 1, 1996.  Prior to the scheduled
maturity of the first mortgage loan, the Lender granted the
Partnership an extension until February 1, 1997.  On January 14,
1997, the Partnership obtained a first mortgage loan in the amount
of $2,925,000 (the "First Mortgage Loan") secured by Delchamps from
NationsBanc Mortgage Capital Corporation.  The First Mortgage Loan
bore interest at the rate of  9.03% per annum, was amortized over
a 25-year period and required monthly payments of principal and
interest of approximately $24,600.  A portion of the proceeds of
the First Mortgage Loan, approximately $2,809,000, was used to
retire the existing mortgage secured by Delchamps from Lincoln
National Life Insurance Company.   The First Mortgage Loan matured
on February 1, 2002 and was not extended.

   Delchamps is a community shopping center constructed in 1986
with approximately 59,400 rentable square feet on a seven acre
site.  Delchamps was anchored by Del Champs, Inc. and Harco Drug,
a Tuscaloosa based drug store chain.

   In the second quarter of 2000, the Partnership was informed
that the largest single tenant at the Delchamps Shopping Center had
rejected its lease under its Chapter 11 bankruptcy petition.
Delchamps, Inc., the former tenant, a wholly owned subsidiary of
Jitney Jungle, completed the process of selling its fixtures and
equipment from this store and in October 2000 the tenant vacated
the property.  In addition, the Harco Drug store had the ability to
cancel its lease with the Partnership if a suitable grocery anchor
was not obtained within four months of the grocery store closing.
Harco Drug store did not cancel its lease.

   Additionally, in the second quarter of 2000, the Partnership
began to negotiate a debt restructuring plan with the mortgage
lender.  The Partnership stopped making the monthly payments
required under the mortgage loan in June and on August 10, 2000 the
Partnership was informed that the mortgage lender had accelerated
the mortgage loan.  Subsequent to the acceleration, the Partnership
had made all required payments.

   The property's mortgage matured on February 1, 2002 and was not
extended.  While the Partnership continued to make monthly
payments, it was in default on the mortgage.

   In the second quarter of 2001, the Partnership received two
letters of intent from prospective purchasers of the Delchamps
property. In the third quarter of 2001, the Partnership entered
into a contract with one of the potential purchasers to sell the
property in the amount of approximately $4,300,000.  The potential
purchaser completed its due diligence and paid $155,000 in non-
refundable fees toward the purchase price of the property, however,
this sale did not close.

   In the first quarter of 2002, the Partnership executed a
contract to sell Delchamps for $3,800,000 to an unaffiliated third
party purchaser subject to certain third party contingencies.  This
contract was terminated by the potential purchaser.

   In the second quarter of 2002, faced with increasing
uncertainty as to whether or not the lender would exercise its
rights and foreclose on the matured mortgage loan, the Partnership
executed a contract to sell Delchamps for $3,050,000 to an
unaffiliated third party purchaser subject to certain third party
contingencies.

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.  After repayment of the mortgage note and
costs related to the sale, the Partnership received approximately
$288,000 in net proceeds.

(b) Shoppes on the Parkway ("Shoppes")

   On March 31, 1988, the Partnership purchased Shoppes, a
shopping center located in Hilton Head, South Carolina, for
approximately $7,360,000.  The purchase was funded with
approximately $2,394,000 cash paid at closing and an existing first
mortgage loan from the Crown Life Insurance Company (the "Lender")
with a balance of approximately $4,966,000.  The loan bore interest
at a rate of 10.25% per annum and  matured on December 1, 1994.
Prior to the scheduled maturity of the first mortgage loan, the
Lender granted the Partnership an extension until April 1, 1995.
On April 6, 1995, the Partnership obtained a first mortgage loan in
the amount of $6,100,000 (the "First Mortgage Loan") secured by
Shoppes from Morgan Stanley Mortgage Capital, Inc.  The First
Mortgage Loan bore interest at the rate of 9.55% per annum,
amortized over a 25-year period, required monthly payments of
principal and interest of approximately $53,500 and was scheduled
to mature on  May 1, 2002. The lender and the Partnership executed
an extension of the maturity to December 31, 2002.  The outstanding
balance of the mortgage, which is secured by the property was
$5,440,867 at December 31, 2002.  Subsequent to December 31, 2002,
the Partnership stopped making payments to the lender and was in
default under the terms of the mortgage.  In the second quarter of
2003, the lender agreed to an extension of the mortgage loan until
June 30, 2003, subject to the payment of all unpaid payments and
late fees for the period from January 1, 2003 to March 31, 2003
(approximately $200,000) and the payment of an extension fee of
approximately $27,000.  On April 10, 2003, the Partnership made
these payments to the lender.

   Shoppes is a 87,000 square foot shopping center located in
Hilton Head, South Carolina.  The center was originally constructed
as a fashion outlet center.  However, recent tenant trends have not
been favorable to this type of property.  As a result, the Shoppes
occupancy rate began to decline.  In order to address this issue,
the Partnership sought to reposition the center as a more
traditional shopping center.  In order to accomplish this, the
Partnership identified a new "anchor" type tenant that would create
a large customer draw to the center.  In this regard, in June 2002,
the Partnership executed a conditional lease for approximately
21,000 square feet (approximately 23% of the property's gross
leasable area) to an upscale grocer.  The lease was conditioned on
the tenant being satisfied with certain zoning, occupancy and
building code matters.  In order to accommodate the tenant, the
Partnership needed to combine approximately five smaller spaces in
the center.  However, after investigation of the construction
aspects of the new space, the tenant determined that it needed a
higher ceiling height.  Although technically feasible, this change
required certain municipal approvals.  Accordingly, the Partnership
engaged local zoning experts to assist in this process.  The
Partnership sought and, as a result of extensive negotiation with
the local authority, received approval for these changes.  Although
the tenant indicated a willingness to proceed with these changes,
the Partnership's first mortgage lender was unwilling to approve
the modifications to the property (even though the modifications
would significantly improve the center).   The loan had been
extended twice beyond the original maturity and the Partnership
believed that the lender would be unwilling to extend the loan
again.  Concurrently the Partnership continued to market the asset
for sale based on the conditional lease.  The Partnership received
several expressions of interest on the property.  During this time
the property's mortgage was nearing maturity.  (The loan originally
matured in December, 2001 but was extended through December, 2002.)
Given the conditional nature of the new anchor tenant lease, the
Partnership believed it was unlikely the existing mortgage would be
extended.  The Partnership was faced with a likely adverse action
from the mortgage lender.  Under these circumstances, the
Partnership simultaneously pursued the sale of the center with a
third party purchaser that was willing to accept the demolition,
construction and redevelopment risk inherent in retenanting and
repositioning the center.

   During the fourth quarter of 2002, the Partnership entered into
a contract to sell the property for $8,350,000 less: 1) the costs
of the renovation of the new anchor tenant space; 2) the cost of
moving two tenants that must be moved to accommodate the anchor
tenant; and 3) the implied cost of the down time of the anchor
tenant during its build out period.  This sale was premised on the
21,000  anchor tenant accepting the lease and the major
modifications as detailed above.

   During the period the Partnership was negotiating with the
local authorities, the anchor tenant became frustrated with the
slow progress and terminated the lease.  Since the pending sale
contract was conditioned on the existence of the lease the
Partnership believed it was imperative to retain the tenant.
Ultimately, the tenant's interest in the property returned; but the
tenant required that the Partnership demolish approximately 21,000
square feet of the building and then rebuild a new structure in its
place.  In addition, the tenant required numerous changes  and
improvements for the entire center, including a new facade, roof,
parking lot reconfiguration, renaming of the center and
landscaping.  Management projected that the implementation of these
changes would take at least sixteen months.

   Although the scope of the tenant's requirements changed, the
Partnership worked with the potential buyer to allow the
transaction to be consummated along similar conceptual terms as
previously contemplated.  On May 13, 2003, Shoppes was sold to an
unrelated third party, net of the costs  detailed in the preceding
paragraph, for a purchase price of $6,157,500.  Net proceeds from
the sale of this asset was approximately $449,000.

(c) Ponderosa Restaurant ("Ponderosa")

   On September 28, 1988, the Partnership purchased the land and
building occupied by a Ponderosa restaurant located in Garfield
Heights, Ohio.  The building was constructed in 1981 and contains
5,400 square feet of space.  The cost of the restaurant was
$1,075,000 plus closing costs which were paid in cash.

   The restaurant was purchased from Ponderosa, Inc.
("Ponderosa"), a wholly-owned subsidiary of Metromedia Company.
The obligor under the lease was Metromedia Steakhouse Company LP.
The restaurant is operated by a Ponderosa franchisee.  Ponderosa in
accordance with the terms of a triple-net lease whereby Ponderosa
was to pay all taxes, insurance premiums and operating costs.  The
lease had a base term of 15 lease years (as defined in the
lease),and was scheduled to terminate on September 22, 2003 and
contained four five-year renewal options.  The Partnership was
landlord only and did not participate in the operations of the
restaurant.

   Ponderosa had the right to repurchase this property at the end
of the tenth lease year (1998) and every five years thereafter at
the fair market value of the real estate at the time of repurchase.
In both 1998 and 2003 Ponderosa declined to exercise its repurchase
right.

   In the third quarter of 2002, the Partnership executed a new
lease with the Ponderosa franchisee currently operating the
property.   The new lease commenced in September 2002 and has a
fifteen year term.  The lease has minimum rental payments of
$75,000 per year, with annual increases of 2% per year.  The
Partnership will also receive percentage rent payments equal to 5%
above the natural breakpoint.  The lease is "triple net" to the
Partnership which requires the tenant to pay all operating
expenses, taxes and maintenance of the property.  The Partnership
is also required to make a $50,000 contribution towards a material
renovation of the property, plus three months of free rent.  The
new rental payments are significantly lower than those of the
previous lease.  However, management believes that the new terms
are consistent with the prevailing rental market.  In addition, the
new fifteen year term and the material renovation of the property
will make the asset more salable.

   The operator has commenced the renovation of the property
which is scheduled to be completed by March 31, 2004.  Since the
renovation has not yet been completed, the property has been
difficult to sell.

   In the fourth quarter of 2002  the Partnership entered into an
agreement for the sale of the property to an unaffiliated buyer for
$885,000, less the $50,000 required for future renovations of the
property. Subsequently, the prospective purchaser terminated the
sale agreement.

   On February 18, 2003, the Partnership sold a two-thirds
undivided interest in the Ponderosa Restaurant property for a sales
price of $600,000.  Pursuant to the terms of the agreement, the
Partnership maintains the control of both the sales process and the
management of the property and the holder of the two-thirds
interest is entitled to the first $580,000 of sales proceeds and
its allocable share of the rent collected from the tenant and is
not required to fund any operating deficits.  Additionally, if the
property is not sold within one year, the Partnership is required
to pay the buyer a monthly return on the purchase price of 10% per
annum for 6 months and 12% per annum for an additional 12 months at
the end of which time if the property has not been sold, the
Partnership is required to repurchase the interest for a total
consideration of $580,000.  Accordingly, the Partnership's
financial statements continue to include the Ponderosa property and
the results of its operations with the purchaser's share shown as
Venture partner's share.

   In addition, in the first quarter of 2003, the Partnership
received an expression of interest from a potential purchaser of
this property for a sale price of $935,000 less the $50,000
required for the future property renovations.  However, a contract
was never fully executed and the potential purchaser has decided
not to pursue this transaction.  In the third quarter of 2003, the
Partnership entered into a sale contract for the property for
$925,000, less the $50,000 for future renovation.  However, the
contract was terminated by the potential purchaser during the due
diligent period.  The Partnership continues to market the property
for sale.

   In March of 2004, the Partnership entered a letter of intent
for the sale of the property for $900,000, less the $50,000 in
renovation costs.  The completion of the transaction is still
subject to documentation and the buyer's due diligence.  There can
be no assurance that the sale will be consummated.

   The Ponderosa property has been occupied since its purchase and
the average annual base rent per square foot at December 31 for the
last two years are as follows:

                                 2003            2002
Average Annual Base Rent
 Per Square Foot                $12.82          $19.42

The net carrying value of the property at December 31, 2003 is
$810,250.

Risks of Ownership

   The possibility exists that the tenant of the Partnership's
remaining property may be unable to fulfill its obligations
pursuant to the terms of the lease, including making base rent
payments or percentage rent payments to the Partnership.  Such
defaults by the tenant could have an adverse effect on the
financial situation of the Partnership.  Furthermore, the
Partnership may be unable to replace this tenant due to competition
in the market at the time any vacancy occurs.  Additionally, there
are costs to the Partnership when replacing a tenant such as
leasing commissions and tenant improvements.  Such improvements may
require expenditure of Partnership funds otherwise available for
distribution.

   The occupancy level of Delchamps Plaza North (prior to its
sale) caused a significant use of cash during 2002.  In addition,
the new anchor tenant at Shoppes on the Parkway  required a
significant investment of new capital in the property.  The
mortgage at Shoppes on the Parkway matured in May 2002. The lender
and the Partnership executed an extension of the maturity to
December 31, 2002.  Subsequent to December 31, 2002, the
Partnership stopped making payments to the lender and was in
default under the terms of the mortgage.  In the second quarter of
2003, the lender agreed to an extension of the mortgage loan until
June 30, 2003, subject to the payment of all unpaid payments and
late fees for the period from January 1, 2003 to March 31, 2003
(approximately $200,000) and the payment of an extension fee of
approximately $27,000.  On April 10, 2003, the Partnership made
these payments to the lender.

Item 3.     Legal Proceedings.

            None.


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

            None.


                            PART II

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

   At December 31, 2003, there were 470 Limited Partners in the
Partnership.  There is currently no established public trading
market for Units and it is not anticipated that a public market for
Units will develop.  Bid prices quoted by "partnership exchanges"
vary widely and are not considered a reliable indication of market
value.  Neither the Partnership nor Brauvin 6, Inc. (the "Corporate
General Partner") will redeem or repurchase outstanding Units.

   Pursuant to the terms of the Agreement, there are restrictions
on the ability of the Limited Partners to transfer their Units.  In
all cases, the General Partners must consent to any substitution of
a Limited Partner.

   There were no cash distributions to Limited Partners for 2003
or 2002.

Item 6. Management's Discussion and Analysis or Plan of Operation.

General

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

Liquidity and Capital Resources

   The Partnership intends to satisfy its short-term liquidity
needs through cash reserves and cash flow from its remaining
property.


   The General Partners expect to distribute proceeds from
operating cash flow, if any, and from the sale of real estate to
Limited Partners in a manner that is consistent with the investment
objectives of the Partnership.  Management of the Partnership
believes that cash needs may arise from time to time, which will
have the effect of reducing distributions to Limited Partners to
amounts less than would be available from refinancing or sale
proceeds.  These cash needs include, among other things,
maintenance of working capital reserves in compliance with the
Agreement as well as payments for major repairs, tenant
improvements and leasing commissions in support of real estate
operations.

   No distributions for 2003 or 2002 were made. The Preferential
Distribution Deficiency for the year ended December 31, 2003
equaled $6,998,360, a $697,572 increase over 2002.

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

   As a result of the July 12, 1999 authorization by a majority of
the Limited Partners to sell the Partnership's properties, the
Partnership began the liquidation process and, in accordance with
generally accepted accounting principles, the Partnership's
financial statements for periods subsequent to July 12, 1999 have
been prepared on a liquidation basis.  Accordingly, the carrying
value of the assets is presented at estimated net realizable
amounts and all liabilities are presented at estimated settlement
amounts, including estimated costs associated with carrying out the
liquidation. Preparation of the financial statements on a
liquidation basis requires significant assumptions by management,
including the ability to extend or refinance current debt
maturities, the estimate of liquidation costs and the resolution of
any contingent liabilities.  There may be differences between the
assumptions and the actual results because events and circumstances
frequently do not occur as expected.  Those differences, if any,
could result in a change in the net assets recorded in the
consolidated statement of net assets in liquidation as of December
31, 2003.

Shoppes on the Parkway

   On April 6, 1995, the Partnership obtained a first mortgage
loan in the amount of $6,100,000 (the "First Mortgage Loan")
secured by Shoppes from Morgan Stanley Mortgage Capital, Inc.  The
First Mortgage Loan bore interest at the rate of 9.55% per annum,
amortized over a 25-year period, required monthly payments of
principal and interest of approximately $53,000 and matured on
December 31, 2002. The outstanding mortgage balance encumbered by
this property was $5,440,867 at December 31, 2002.  Subsequent to
December 31, 2002, the Partnership stopped making payments to the
lender and was in default under the terms of the mortgage.
However, in the second quarter of 2003, the lender agreed to an
extension of the mortgage loan until June 30, 2003, subject to the
payment of all unpaid payments and late fees for the period from
January 1, 2003 to June 30, 2003 (approximately $200,000) and the
payment of an extension fee of approximately $27,000.  On April 10,
2003, the Partnership made these payments to the lender and the
default was cured.

   Shoppes is a 87,000 square foot shopping center located in
Hilton Head, South Carolina.  The center was originally constructed
as a fashion outlet center.  However, recent tenant trends have not
been favorable to this type of property.  As a result, the Shoppes
occupancy rate began to decline.  In order to address this issue,
the Partnership sought to reposition the center as a more
traditional shopping center.  In order to accomplish this, the
Partnership identified a new "anchor" type tenant that would create
a large customer draw to the center.  In this regard, in June 2002,
the Partnership executed a conditional lease for approximately
21,000 square feet (approximately 23% of the property's gross
leasable area) to an upscale grocer.  The lease was conditioned on
the tenant being satisfied with certain zoning, occupancy and
building code matters.  In order to accommodate the tenant, the
Partnership needed to combine approximately five smaller spaces in
the center.  However, after investigation of the construction
aspects of the new space, the tenant determined that it needed a
higher ceiling height.  Although technically feasible, this change
required certain municipal approvals.  Accordingly, the Partnership
engaged local zoning experts to assist in this process.  The
Partnership sought and, as a result of extensive negotiation with
the local authority, received approval for these changes.  Although
the tenant indicated a willingness to proceed with these changes,
the Partnership's first mortgage lender was unwilling to approve
the modifications to the property (even though the modifications
would significantly improve the center).   The loan had been
extended twice beyond the original maturity and the Partnership
believed that the lender would be unwilling to extend the loan
again.  Concurrently the Partnership continued to market the asset
for sale based on the conditional lease.  The Partnership received
several expressions of interest on the property.  During this time
the property's mortgage was nearing maturity.  (The loan originally
matured in December, 2001 but was extended through December, 2002.)
Given the conditional nature of the new anchor tenant lease, the
Partnership believed it was unlikely the existing mortgage would be
extended.  The Partnership was faced with a likely adverse action
from the mortgage lender.  Under these circumstances, the
Partnership simultaneously pursued the sale of the center with a
third party purchaser that was willing to accept the demolition,
construction and redevelopment risk inherent in retenanting and
repositioning the center.

   During the fourth quarter of 2002, the Partnership entered into
a contract to sell the property for $8,350,000 less: 1) the costs
of the renovation of the new anchor tenant space; 2) the cost of
moving two tenants that must be moved to accommodate the anchor
tenant; and 3) the implied cost of the down time of the anchor
tenant during its build out period.  This sale was premised on the
21,000  anchor tenant accepting the lease and the major
modifications as detailed above.

   During the period the Partnership was negotiating with the
local authorities, the anchor tenant became frustrated with the
slow progress and terminated the lease.  Since the pending sale
contract was conditioned on the existence of the lease the
Partnership believed it was imperative to retain the tenant.
Ultimately, the tenant's interest in the property returned; but the
tenant required that the Partnership demolish approximately 21,000
square feet of the building and then rebuild a new structure in its
place.  In addition, the tenant required numerous changes  and
improvements for the entire center, including a new facade, roof,
parking lot reconfiguration, renaming of the center and
landscaping.  Management projected that the implementation of these
changes would take at least sixteen months.

   Although the scope of the tenant's requirements changed, the
Partnership worked with the potential buyer to allow the
transaction to be consummated along similar conceptual terms as
previously contemplated.  On May 13, 2003, Shoppes was sold to an
unrelated third party, net of the costs  detailed in the preceding
paragraph, for a purchase price of $6,157,500.  Net proceeds from
the sale of this asset was approximately $449,000.

Ponderosa

   The Ponderosa Restaurant property is the smallest asset owned
by the Partnership and it does not have any debt associated with
it.  In the third quarter of 2001, Metromedia Steakhouses Company
L.P., the parent of Ponderosa and the original tenant under the
lease, sublet the premises to an area franchisee through the term
of the existing lease (September, 2003).

   In the third quarter of 2002, the Partnership executed a new
lease with the Ponderosa franchisee currently operating the
property.   The new lease commenced in September 2002 and has a
fifteen year term.  The lease has minimum rental payments of
$75,000 per year, with annual increases of 2% per year.  The
Partnership will also receive percentage rent payments equal to 5%
above the natural breakpoint.  The lease is "triple net" to the
Partnership which will require the tenant to pay all operating
expenses, taxes and maintenance of the property.  The Partnership
is also required to make a $50,000 contribution towards a material
renovation of the property, plus three months of free rent.  The
new rental payments are significantly lower than those of the
previous lease.  However, management believes that the new terms
are consistent with the prevailing rental market.  In addition, the
new fifteen year term and the material renovation of the property
will make the asset more salable.  The operator has commenced the
renovation of the property and is scheduled to be complete by March
31, 2004.  Since the renovation is not complete, the property has
been more difficult to sell.

   In the fourth quarter of 2002, the Partnership entered into an
agreement for the sale of the property to an unaffiliated buyer for
$885,000, less the $50,000 required for future renovations of the
property.  Subsequently, the prospective purchaser terminated the
sale agreement.

   On February 18, 2003, the Partnership sold a two-thirds
undivided interest in the Ponderosa Restaurant property for a sales
price of $600,000.  Pursuant to the terms of the agreement, the
Partnership maintains the control of both the sales process and the
management of the property and the holder of the two-thirds
interest is entitled to the first $580,000 of sales proceeds and
its allocable share of the rent collected from the tenant and is
not required to fund any operating deficits.  Additionally, if the
property is not sold within one year, the Partnership is required
to pay the buyer a monthly return on the purchase price of 10% per
annum for 6 months and 12% per annum for an additional 12 months at
the end of which time if the property has not been sold, the
Partnership is required to repurchase the interest for a total
consideration of $580,000.  Accordingly, the Partnership's
financial statements continue to include the Ponderosa property and
the results of its operations with the purchaser's share shown as
Venture partner's share.

   In addition, in the first quarter of 2003, the Partnership
received an expression of interest from a potential purchaser of
this property for a sale price of $935,000 less the $50,000
required for the future property renovations.  However, a contract
was never fully executed and the potential purchaser has decided
not to pursue this transaction.  In the third quarter of 2003, the
Partnership entered into a sale contract for the property for
$925,000, less the $50,000 for future renovation.  However, the
contract was terminated by the potential purchaser during the due
diligence period.  The Partnership continues to market the property
for sale.

   In March of 2004, the Partnership entered a letter of intent
for the sale of the property for $900,000, less the $50,000 in
renovation costs.  The completion of the transaction is still
subject to documentation and the buyer's due diligence.  There can
be no assurance that the sale will be consummated.

Delchamps

   The Partnership was required to make a balloon mortgage payment
for Delchamps in December 1996 in the amount of $2,823,000.  Prior
to the scheduled maturity of the original mortgage loan, the lender
granted the Partnership an extension until February 1, 1997.  On
January 14, 1997, the Partnership obtained a first mortgage loan in
the amount of $2,925,000 (the "First Mortgage Loan") secured by
Delchamps from NationsBanc Mortgage Capital Corporation.  The First
Mortgage Loan bore interest at the rate of 9.03% per annum, was
amortized over a 25-year period and required monthly payments of
principal and interest of approximately $24,600.  A portion of the
proceeds of the First Mortgage Loan, approximately $2,809,000, was
used to retire the original mortgage secured by Delchamps from
Lincoln National Life Insurance Company.   The First Mortgage Loan
matured on February 1, 2002.

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$288,000 in net proceeds.

   One of the special purpose entities owned by the Partnership
(Brauvin/ Delchamps) was sued by a real estate broker in relation
to the sale of the asset.  The Partnership believes the suit is
without merit.  The special purpose entity has been  indemnified by
the purchaser of the property against such litigation.  In the
first quarter of 2003 the suit was dropped.

Results of Operations

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

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

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

   An affiliate of the Partnership and the General Partners is
assigned responsibility for day-to-day management of the
properties.  The affiliate receives a combined management and
leasing fee, which cannot exceed 6% of gross revenues generated by
the properties.  Management fee rates are determined by the extent
of services provided by the affiliate versus services that may be
provided by third parties, i.e., independent leasing agents.  In
all instances, fees paid by the Partnership to the property
management affiliate are, in the General Partners' opinion,
comparable to fees that would be paid to independent third parties.


Results of Operations 2003 compared to 2002

   The Partnership generated net income of $57,000 for the year
ended December 31, 2003 as compared to a net loss of $713,000 for
the same period in 2002.  The $770,000 increase in net income is
primarily a result of a $619,000 decrease in total income, and a
$1,070,000 decrease in total expense, a $355,000 increase in gain
on sale of property and an increase in joint venture partner share
of $36,000.

   Total income for the year ended December 31, 2003 was $388,000
as compared to $1,007,000 for the same period in 2002.  The
$619,000 decrease in total income was primarily a result of a
$529,000 decrease in rental income, a $3,000 decrease in interest
income and a $87,000 decrease in other income.  Rental and other
income decreased primarily as a result of a decrease in rental and
other income at Delchamps and Shoppes as a result of the properties
sale.  Interest income decreased as a result of the decline in
interest rates.

   Total expenses for the year ended December 31, 2003 were
$666,000 as compared to $1,737,000 for the same period in 2002.
The $1,070,000 decrease in total expense was primarily the result
of a decrease in general and administrative expense of $218,000, a
decrease in interest expense of $488,000,a decrease of operating
expense of $119,000,  a decrease of management fees of $44,000, a
decrease in repairs and maintenance expense of $168,000 and a
decrease in real estate tax expense of $33,000.  Expenses decreased
primarily as a result of the sale of Delchamps and Shoppes.
Management fees decreased as a result of lower rental income.


Results of Operations 2002 compared to 2001

   The Partnership generated a net loss of $713,000 for the year
ended December 31, 2002 as compared to a net loss of $197,000 for
the same period in 2001.  The $516,000 increase in net loss is
primarily a result of a $587,000 decrease in total income, and a
$39,000 increase in total expense and a $93,000 decrease in
adjustment to liquidation basis.

   Total income for the year ended December 31, 2002 was
$1,007,000 as compared to $1,594,000 for the same period in 2001.
The $587,000 decrease in total income was primarily a result of a
$372,000 decrease in rental income, a $23,000 decrease in interest
income and a $192,000 decrease in other income.  Rental income
decreased primarily as a result of a decrease in rental income at
Delchamps as a result of the  sale of Delchamps, and a decrease in
rental income at Shoppes  due to a decrease in occupancy and a
decrease in percentage rent due to an overall decrease in sales of
the tenants at Shoppes. Other income decreased primarily as a
result of a decrease in other income attributed to income in 2001
at Delchamps resulting from a forfeiture of earnest money on a sale
contract.  Interest income decreased as a result of the decline in
interest rates.

   Total expenses for the year ended December 31, 2002 were
$1,737,000 as compared to $1,698,000 for the same period in 2001.
The $39,000 increase in total expense was primarily the result of
a decrease in general and administrative expense of $30,000, a
decrease in interest expense of $38,000,a decrease of operating
expense of $33,000, and  a decrease of management fees of $16,000
offset by an increase in repairs and maintenance expense of
$156,000. General and administrative expense decreased primarily as
a result of a decrease in bad debt expense and advertising and
promotion offset by increases in salary expense and legal fees
expense.  Bad debt expense decreased primarily as a result of
write-offs at Shoppes in 2001. Legal fees increased primarily as a
result of sale of Delchamps in 2002.   Management fees decreased as
a result of lower rental income.  Repairs and maintenance expense
increased primarily as a result of improvements made at Shoppes to
accommodate the new tenants. Adjustment to liquidation basis
decreased $93,000.


Item 7.   Consolidated Financial Statements and Supplementary Data.

   See Index to Consolidated Financial Statements on Page F-1 of
this Form 10-KSB for consolidated financial statements where
applicable.

   The financial information required in Item 310(b) of Regulation
S-B is not applicable.

Item 8.   Changes in and Disagreements with Accountants on
          Accounting and Financial Disclosure

          None.


Item 8a.  Controls and Procedures

Evaluation of Disclosure Controls and Procedures


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


Changes in Internal Controls

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





                            PART III

Item 9.  Directors, Executive Officers, Promoters and Control
         Persons; Compliance with Section 16 (a) of the Exchange
         Act.

         The General Partners of the Partnership are:
         Brauvin 6, Inc., an Illinois corporation
         Mr. Jerome J. Brault, individually

   Brauvin 6, Inc. was formed under the laws of the State of
Illinois in 1986, with its issued and outstanding shares being
owned by A.G.E. Realty Corporation, Inc. (50%), and Messrs. Jerome
J. Brault (beneficially) (25%) and Cezar M. Froelich (25%).

   The principal officers and directors of the Corporate General
Partner are:

  Mr. Jerome J. Brault . . . . . . . . . . . . .Chairman of the Board of
              Directors, Director, Chief Executive Officer and President

  Mr. James L. Brault. . . . . . . . . . . .Vice President and Secretary

  Mr. Thomas E. Murphy . . . . . . . . . . . . . . . Treasurer and Chief
                                                       Financial Officer

   The business experience during the past five years of the
General Partners, officers and directors is as follows:

   MR. JEROME J. BRAULT (age 70) chairman of the board of
directors, president and chief executive officer of the Corporate
General Partner, as well as a principal shareholder of the
Corporate General Partner.  He is a member and manager of Brauvin
Real Estate Funds, L.L.C.  He is a member of Brauvin Capital Trust
L.L.C.  Since 1979, he has been a shareholder, president and a
director of Brauvin/Chicago, Ltd.  He is an officer, director and
one of the principal shareholders of various Brauvin entities which
act as the general partners of four other publicly registered real
estate programs.  He is an officer, director and one of the
principal shareholders of Brauvin Associates, Inc., Brauvin
Management Company, Brauvin Advisory Services, Inc. and Brauvin
Securities, Inc., Illinois companies engaged in the real estate and
securities businesses.  He is a director, president and chief
executive officer of Brauvin Net Lease V, Inc.  He is the chief
executive officer of Brauvin Capital Trust, Inc.  Mr. Brault
received a B.S. in Business from DePaul University, Chicago,
Illinois in 1959.

   MR. JAMES L. BRAULT (age 43) is a vice president and secretary
and is responsible for the overall operations of the Corporate
General Partner and other affiliates of the Corporate General
Partner.  He is an officer of various Brauvin entities which act as
the general partners of four other publicly registered real estate
programs.  Mr. Brault is executive vice president and assistant
secretary and is responsible for the overall operations of Brauvin
Management Company.  He is also an executive vice president and
secretary of Brauvin Net Lease V, Inc.  He is a manager of  Brauvin
Capital Trust, L.L.C. and BA/Brauvin L.L.C.  He is the president of
Brauvin Capital Trust, Inc.  Prior to joining the Brauvin
organization in May 1989, he was a Vice President of the Commercial
Real Estate Division of the First National Bank of Chicago ("First
Chicago"), based in their Washington, D.C. office.  Mr. Brault
joined First Chicago in 1983 and his responsibilities included the
origination and management of commercial real estate loans, as well
as the direct management of a loan portfolio in excess of $150
million.  Mr. Brault received a B.A. in Economics from Williams
College, Williamstown, Massachusetts in 1983 and an M.B.A. in
Finance and Investments from George Washington University,
Washington, D.C. in 1987.  Mr. Brault is the son of Mr. Jerome J.
Brault.

   MR. THOMAS E. MURPHY (age 37) is the treasurer and chief
financial officer of the Corporate General Partner and other
affiliates of the Corporate General Partner.  He is the chief
financial  officer of various Brauvin entities which act as the
general partners of four other publicly registered real estate
programs.  Mr. Murphy is also the chief financial officer of
Brauvin Management Company, Brauvin Financial, Inc., Brauvin
Securities, Inc. and Brauvin Net Lease V, Inc.  He is the
treasurer, chief financial officer and secretary of Brauvin Capital
Trust, Inc. He is responsible for the Partnership's accounting and
financial reporting to regulatory agencies.  He joined the Brauvin
organization in July 1994.  Mr. Murphy received a B.S. in
Accounting from Northern Illinois University in 1988.  Mr. Murphy
is a Certified Public Accountant and is a member of the Illinois
Certified Public Accountants Society.


Item 10.   Executive Compensation.

   (a & b) The Partnership is required to pay certain fees, make
distributions and allocate a share of the profits and losses of the
Partnership to the Corporate General Partner or other affiliates as
described under the caption "Compensation Table" on pages 10 to 12
of the Partnership's Prospectus, as supplemented, and the sections
of the Partnership Agreement entitled "Distribution of Operating
Cash Flow," "Allocation of Profits, Losses and Deductions,"
"Distribution of Net Sale or Refinancing Proceeds" and
"Compensation of General Partners and Their Affiliates" on pages
A-10 to A-15 of the Agreement, attached as Exhibit A to the
Prospectus.  The relationship of the Corporate General Partner (and
its directors and officers) to its affiliates is set forth in Item
9.  Reference is also made to Notes 3 and 5 of the Notes to
Consolidated Financial Statements filed with this annual report for
a description of such distributions and allocations.

   The General Partners received a share of Partnership loss or
income for 2003 and 2002.

   An affiliate of the General Partners is reimbursed for its
direct expenses relating to the administration of the Partnership.

   The Partnership does not have any employees and therefore there
is no compensation paid.

  (c) - (h)              Not applicable.

Item 11.  Security Ownership of Certain Beneficial Owners and
          Management.

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

  (b)     The officers and directors of the Corporate General
          Partner do not, individually or as a group, own any
          Units.

  (c)     The Partnership is not aware of any arrangements, the
          operations of which may result in a change of control of
          the Partnership.

   No officer or director of the Corporate General Partner
possesses a right to acquire beneficial ownership of Units.  The
General Partners will share in the profits, losses and
distributions of the Partnership as outlined in Item 10, "Executive
Compensation."

Item 12.  Certain Relationships and Related Transactions.

   (a & b) The Partnership is entitled to engage in various
transactions involving affiliates of the Corporate General Partner,
as described in the sections of the Partnership's Prospectus, as
supplemented, entitled "Compensation Table" and "Conflicts of
Interest" at pages 10 to 15 and the section of the Agreement
entitled "Rights, Duties and Obligations of General Partners" at
pages A-17 to A-20 of the Agreement.  The relationship of the
Corporate General Partner to its affiliates is set forth in Item 9.
Cezar M. Froelich resigned as an individual general partner of the
Partnership effective 90 days after August 14, 1997 but remains a
shareholder of the Corporate General Partner.  He is a principal of
the law firm of Shefsky & Froelich Ltd., which acted as securities
and real estate counsel to the Partnership.  Reference is made to
Note 5 of the Notes to Consolidated Financial Statements filed with
this annual report for a summary of transactions with affiliates.

   As a precondition to the financing on Shoppes, the lender
required that ownership of the property reside in a special purpose
entity ("SPE").  To accommodate the lender's requirements,
ownership of the property was transferred in 1995 to an SPE,
Brauvin/Shoppes on the Parkway L.P., which is owned 99% by the
Partnership and 1% by an affiliate of the General Partners.
Distributions of Brauvin/Shoppes on the Parkway L.P. are made to
the General Partner in an amount equal to: (a) any tax liability
caused by its allocation of Profits or income; and (b) any filing
fees or accounting fees incurred in connection herewith; and then
to the Limited Partner until it receives an amount equal to the
value of its Capital Contribution plus an annual compounded return
on its original investment of 25% per annum and; thereafter, in
accordance with their respective partnership interests.  The
creation of Brauvin/Shoppes on the Parkway L.P. did not affect the
Partnership's economic ownership of the Shoppes property.
Furthermore, this change in ownership structure had no material
effect on the consolidated financial statements of the Partnership.

   As a precondition to the financing on Delchamps, the lender
required that ownership of the property reside in an SPE.  To
accommodate the lender's requirements, ownership of the property
was transferred in 1997 to the SPE, Brauvin/Delchamps L.P., which
is owned 99% by the Partnership and 1% by an affiliate of the
General Partners.  Distributions of Brauvin/Delchamps L.P. were
made first to an affiliate of the General Partners in an amount
equal to any tax liabilities caused by any allocation of profits or
income plus any filing or accounting fees incurred in connection
therewith the remainder was distributed to the Partnership.   The
creation of Brauvin/Delchamps L.P. did not affect the Partnership's
economic ownership of the Delchamps property.  Furthermore, this
change in ownership structure had no material effect on the
consolidated financial statements of the Partnership.

   (c)    No management persons are indebted to the Partnership.

   (d)    There have been no transactions with promoters.

Item 13.  Exhibits, Consolidated Financial Statements and Reports
          on Form 8-K.

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

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

    (3)        Exhibits required by the Securities and Exchange
               Commission Regulation S-B Item 601:

               Exhibit No.      Description
               *3.(a)        Limited Partnership Agreement
               *3.(b)        Articles of Incorporation of
                                Brauvin 6, Inc.
               *3.(c)        By-Laws of Brauvin 6, Inc.
               *3.(d)        Certificate of Limited
                                Partnership of the Partnership
               *10.(a)       Escrow Agreement
               *10.(b)(1)    Management Agreement
                21.          Subsidiaries of the registrant
               *28           Pages 9-14 and A-15 to A-18 of
                                the Partnership's Prospectus and
                                the Agreement dated May 30,
                                1986, as supplemented.

* Incorporated by reference from the exhibits filed with the
Partnership's registration statement (File No. 0-16857) on Form
S-11 filed under the Securities Act of 1933:

(b)    No portions of the annual report have been incorporated
       by reference in this Form 10-KSB.

(c)    Form 8-K.
       None.

(d)    An annual report for the fiscal year 2003 will be sent to
       the Limited Partners subsequent to this filing.

Item 14.  Principal Accountant Fees and Services

 Altschuler, Melvoin and Glasser LLP("AMG") has been engaged by the
General Partner as the Partnership's independent auditor for the
years 2002 and 2003.   AMG has audited the Partnership's financial
statements for the years ended December 31, 2003 and 2002.  AMG has
not performed any other services for the Partnership.

 The aggregate fees billed for each of the last two years
professional services rendered by AMG for the audit of the
Partnership's annual financial statements and interim reviews of
financial information included in Form 10-KSB aggregated $36,000
during 2003 and $41,000 during 2002.

 AMG has a continuing relationship with American Express Tax and
Business Services Inc. ("TBS") from which it leases staff who are
full time, permanent employees of TBS and through which its
partners provide non-audit services.  As a result of this
arrangement, AMG has no full time employees and, therefore, none of
the audit services performed were provided by permanent, full-time
employees of AMG.  AMG manages and supervises the audit engagement
and the audit staff and is exclusively responsible for the opinion
rendered in connection with its audit.  TBS has been engaged to
provide tax return preparation for the Partnership.

 Other services, which do not include Financial Information System
Design and Implementation fees, have been provided by TBS.

 In accordance with policies of the board of directors of the
General Partner, all services provided by AMG and TBS are required
to be pre-approved.


                          SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                      BRAUVIN INCOME PROPERTIES L.P. 6

                      BY: Brauvin 6, Inc.
                          Corporate General Partner

                          By:  /s/ Jerome J. Brault
                               Jerome J. Brault
                               Chairman of the Board of
                               Directors, Chief Executive
                               Officer and President

                          By:  /s/ James L. Brault
                               James L. Brault
                               Vice President and Secretary

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

                      INDIVIDUAL GENERAL PARTNER

                               /s/ Jerome J. Brault
                               Jerome J. Brault


Dated: March 26, 2004


           CERTIFICATE OF THE CHIEF EXECUTIVE OFFICER
                               OF
                        BRAUVIN 6, INC.
                   CORPORATE GENERAL PARTNER
                               OF
                BRAUVIN INCOME PROPERTIES L.P. 6


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

1.   I have reviewed this annual report on Form 10-KSB of Brauvin
     Income Properties L.P. 6;

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

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

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

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

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

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

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

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

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

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


                    BY:/s/ Jerome J. Brault
                       Jerome J. Brault
                       Chairman of the Board of Directors,
                       President and Chief Executive Officer

                    DATE: March 26, 2004



           CERTIFICATE OF THE CHIEF FINANCIAL OFFICER
                               OF
                        BRAUVIN 6, INC.
                   CORPORATE GENERAL PARTNER
                               OF
                BRAUVIN INCOME PROPERTIES L.P. 6

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

1.   I have reviewed this annual report on Form 10-KSB of Brauvin
     Income Properties L.P. 6;

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

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

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

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

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

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

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

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

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

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


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

                    DATE: March 26, 2004




                          Exhibit 99

                   SECTION 906 CERTIFICATION


     The following statement is provided by the undersigned to
accompany the Annual Report on Form 10-KSB for the year ended
December 31, 2003, pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002 and shall not be deemed filed pursuant to any
provisions of the Securities Exchange Act of 1934 or any other
securities law:

     Each of the undersigned certifies that the foregoing Report on
Form 10-KSB fully complies with the requirements of Section 13(a)
of the Securities Exchange Act of 1934 (15 U.S.C. 78m) and that the
information contained in the Form 10-KSB fairly presents, in all
material respects, the financial condition and results of
operations of Brauvin Income Properties L.P. 6.





                    BY:    Brauvin 6, Inc.
                           Corporate General Partner of
                           Brauvin Income Properties L.P. 6


                    BY:    /s/ Jerome J. Brault
                           Jerome J. Brault
                           Chairman of the Board of
                           Directors, Chief Executive Officer
                           and President


                    DATE:  March 26, 2004


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


                    DATE:  March 26, 2004


           INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

                                                            Page

Independent Auditors' Report . . . . . . . . . . . . . . .  F-2

Consolidated Statement of Net Assets in Liquidation
as of December 31, 2003 (Liquidation Basis) . . . . . . . . F-3

Consolidated Statement of Changes in Net Assets
in Liquidation for the year ended
December 31, 2003  (Liquidation Basis)  . . . . . . . . . . F-4

Consolidated Statement of Changes in Net Assets
in Liquidation for the year ended
December 31, 2002  (Liquidation Basis)  . . . . . . . . . . F-5

Consolidated Statements of Operations for the years ended
December 31, 2003 and 2002 (Liquidation Basis). . . . . . . F-6

Notes to Consolidated Financial Statements  . . . . . . . . F-7

All other schedules provided for in Item 13 (a) of Form 10-KSB
are either not required, not applicable, or immaterial.


                  INDEPENDENT AUDITORS' REPORT

Partners of
Brauvin Income Properties L.P. 6

We have audited the accompanying consolidated financial statements
of Brauvin Income Properties L.P. 6, as of December 31, 2003, and
for the years ended December 31, 2003 and 2002 as listed in the
index to consolidated financial statements.  These consolidated
financial statements are the responsibility of the Partnership's
management.  Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.

We conducted our audits in accordance with auditing standards
generally accepted in the United States.  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 consolidated financial statements referred to
above present fairly, in all material respects, the financial
position of Brauvin Income Properties L.P. 6 at December 31, 2003,
and the results of their operations for the years ended December
31, 2003 and 2002  in conformity with U.S. generally accepted
accounting principles.


/s/Altschuler, Melvoin and Glasser LLP
Chicago, Illinois
January 21, 2004




   CONSOLIDATED STATEMENT OF NET ASSETS IN LIQUIDATION AS OF
                       DECEMBER 31, 2003
                      (LIQUIDATION BASIS)


ASSETS

Real estate held for sale                            $  810,250
Cash and cash equivalents                             1,201,385
Rent receivable                                          51,435

    Total Assets                                      2,063,070

LIABILITIES

Accounts payable and accrued
  expenses                                              109,995
Deferred gain on sale of property (Note 2)                9,849
Reserve for liquidation costs (Note 2)                  139,995
Due to affiliate                                            993
Venture partner's share of joint venture                580,000
Tenant security deposits                                  7,620

    Total Liabilities                                   848,452

Net Assets in Liquidation                            $1,214,618

















   See accompanying notes to consolidated financial statements



 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
    (LIQUIDATION BASIS) FOR THE YEAR ENDED DECEMBER 31, 2003




Net assets in liquidation at January 1, 2003                  $1,157,817

Gain on sale of property                                         371,700

Loss from operations                                            (314,899)

Net assets in liquidation at December 31, 2003                $1,214,618



















  See accompanying notes to consolidated financial statements.

 CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS IN LIQUIDATION
    (LIQUIDATION BASIS) FOR THE YEAR ENDED DECEMBER 31, 2002




Net assets in liquidation at January 1, 2002                   $1,871,228

Gain on sale of property                                           16,685

Loss from operations                                             (730,096)

Net assets in liquidation at December 31, 2002                 $1,157,817




















  See accompanying notes to consolidated financial statements.


              CONSOLIDATED STATEMENTS OF OPERATIONS
         For the years ended December 31, 2003 and 2002
                      (Liquidation Basis)


                                            2003           2002
INCOME
Rental                                   $ 266,738      $ 795,738
Interest                                     6,484          8,988
Other, primarily expense
  reimbursements                           114,678        201,833

       Total income                        387,900      1,006,559

EXPENSES
Interest                                   263,325        751,539
Real estate taxes                           95,505        128,667
Repairs and maintenance                      6,609        174,289
Management fees (Note 5)                    21,336         65,783
Other property operating                    76,275        195,120
General and administrative                 203,132        421,257

  Total expenses                           666,182      1,736,655

Net loss before gain on sale of
  property and joint venture
  partner's share                         (278,282)      (730,096)

Gain on sale of property                   371,700         16,685
 Venture partner's
 share of income                           (36,617)            --

Net income (loss)                        $  56,801     $ (713,411)

Net income (loss) allocated to:
  General Partners                       $     568     $   (7,134)

  Limited Partners                       $  56,233     $ (706,277)

Net income (loss) per Limited
  Partnership Interest
(7,842.5 Units)                          $    7.17     $   (90.06)


  See accompanying notes to consolidated financial statements.


           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
         For the years ended December 31, 2003 and 2002

(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

  ORGANIZATION

  Brauvin Income Properties L.P. 6 (the "Partnership") is a
Delaware limited partnership organized for the purpose of
acquiring, operating, holding for investment and disposing of
commercial properties consisting principally of existing shopping
centers and, to a lesser extent, office and industrial buildings.
The General Partners of the Partnership are Brauvin 6, Inc. and
Jerome J. Brault.  On August 8, 1997, Mr. Cezar M. Froelich
resigned as a Individual General Partner effective 90 days from
August 14, 1997.  Brauvin 6, Inc. is owned by the A.G.E. Realty
Corporation Inc.(50%) and by Messrs. Brault (beneficially) (25%)
and Froelich (25%).  A.G. Edwards & Sons, Inc. and Brauvin
Securities, Inc., affiliates of the General Partners, were the
selling agents of the Partnership.  The Partnership is managed by
an affiliate of the General Partners.

  The Partnership was formed in April 1986.  The Partnership filed
a Registration Statement on Form S-11 with the Securities and
Exchange Commission which became effective on May 30, 1986.  The
offering was terminated on August 31, 1987 having sold $7,842,500
in limited partnership interests.

  The Partnership has acquired the land and buildings underlying
Delchamps Plaza North Shopping Center ("Delchamps"), Shoppes on the
Parkway ("Shoppes") and a Ponderosa Restaurant ("Ponderosa").

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$288,000 in net proceeds.

   On May 13, 2003, Shoppes was sold to an unaffiliated third
party for $6,157,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$449,000 in net proceeds.
      NOTES TO CONSOLIDATED FINANCIAL STATEMENTS-CONTINUED
         For the years ended December 31, 2003 and 2002

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

   Management's Use of Estimates

   The preparation of financial statements in conformity with
generally accepted accounting principles requires management to
make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and
liabilities at the date of the consolidated financial statements
and the reported amounts of revenues and expenses during the
reporting period.  Actual results could differ from those
estimates.

   Basis of Presentation

   As a result of the July 12, 1999 authorization by a majority of
the Limited Partners to sell the Partnership's properties, the
Partnership had begun the liquidation process and, in accordance
with generally accepted accounting principles, the Partnership's
financial statements for periods subsequent to July 12, 1999 are
prepared on the liquidation basis of accounting.  Accordingly, the
carrying values of assets are presented at estimated net realizable
amounts and liabilities are presented at estimated settlement
amounts, including estimated costs associated with carrying out the
liquidation.  Preparation of the financial statements on the
liquidation basis of accounting requires significant assumptions by
management, including the estimate of liquidation costs and the
resolution of any contingent liabilities.  There may be differences
between the assumptions and the actual results because events and
circumstances frequently do not occur as expected.  Those
differences, if any, could result in a change in the net assets
recorded in the statement of net assets as of December 31, 2003.

   Accounting Method

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

   Federal Income Taxes

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

   Principles of Consolidation

   The Partnership had two affiliates, Brauvin/Shoppes on the
Parkway L.P. and Brauvin/Delchamps L.P., which are each owned 99%
by the Partnership and 1% by an affiliate of the General Partners.
The accounts of the Partnership have been consolidated with its
majority owned subsidiaries in the accompanying financial
statements.  All significant intercompany balances and transactions
have been eliminated upon consolidation.

   Distributions from each subsidiary were made to the General
Partner in an amount equal to: (a) any tax liability caused by its
allocation of Profits or income; and (b) any filing fees or
accounting fees incurred in connection herewith; and then to the
Limited Partner until it receives an amount equal to the value of
its Capital Contribution plus an annual compounded return on its
original investment of 25% per annum and; thereafter, in accordance
with their respective partnership interests.

     On July 19, 2002, Delchamps was sold and all remaining cash
was transferred to the Partnership.

   On May 13, 2003, Shoppes was sold and the majority of the
remaining cash has been transferred to the Partnership.

     On February 18, 2003, the Partnership sold a two-thirds
undivided interest in the Ponderosa Restaurant property for a sales
price of $600,000.  Pursuant to the terms of the agreement, the
Partnership maintains the control of both the sales process and the
management of the property and the holder of the two-thirds
interest is entitled to the first $580,000 of sales proceeds and
its allocable share of the rent collected from the tenant and is
not required to fund any operating deficits.  Additionally, if the
property is not sold within one year, the Partnership is required
to pay the buyer a monthly return on the purchase price of 10% per
annum for 6 months and 12% per annum for an additional 12 months at
the end of which time if the property has not been sold, the
Partnership is required to repurchase the interest for a total
consideration of $580,000.  Accordingly, the Partnership's
financial statements continue to include the Ponderosa property and
the results of its operations with the purchaser's share shown as
Venture partner's share.

   Real Estate Held for Sale

   Prior to the conversion from the going concern basis to the
liquidation basis of accounting, the Partnership's rental
properties were stated at cost including acquisition costs.
Depreciation was recorded on a straight-line basis over the
estimated economic lives of the properties which approximate 31.5
years.

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

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

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

   The Partnership has adopted Statement of Financial Accounting
Standards No. 143, "Accounting for Asset Retirement Obligations"
("SFAS 143"), which is effective for years beginning after June 15,
2002.  SFAS 143 requires recognition of a liability and associated
asset for the fair value of costs arising from legal obligations
associated with the retirement of tangible long-lived assets.  The
asset is to be allocated to expense over its estimated useful life.

   In August 2001, the FASB issued Statement of Financial
Accounting Standards No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets" ("SFAS 144"), which was effective
for fiscal years beginning after December 15, 2001.  SFAS 144
supersedes FASB Statement No. 121, "Accounting for the Impairment
of Long-Lived Assets and Long-Lived Assets to Be Disposed Of"
("SFAS 121").  SFAS 144 retains the recognition and measurement
requirements of SFAS 121, but resolves significant SFAS 121
implementation issues.  In addition, it applies to a segment of a
business accounted for as a discontinued operation.

   SFAS 143 and SFAS 144 have not had a significant impact on the
Partnership's financial statements.


   Cash and Cash Equivalents

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

   Rent Receivable

   Rent receivable is comprised of billed but uncollected amounts
due for monthly rents and other charges.  Receivables are recorded
at management's estimate of the amounts that will ultimately be
collected.

   Estimated Fair Value of Financial Instruments

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

   The fair value estimates presented herein are based on
information available to management as of December 31, 2003, but
may not necessarily be indicative of the amounts that the
Partnership could realize in a current market exchange.  The use of
different assumptions and/or estimation methodologies may have a
material effect on the estimated fair value amounts.

   In connection with the adoption of the liquidation basis of
accounting, assets were adjusted to estimated net realizable value
and liabilities were adjusted to estimated settlement amounts,
which approximates their fair value at December 31, 2003.


   Derivatives and Hedging Instruments

   In June 1998, the Financial Accounting Standards Board ("FASB")
issued Statement of Financial Accounting Standards No. 133,
"Accounting for Derivative Instruments and Hedging Activities"
("SFAS 133"), which requires that all derivatives be recognized as
assets and liabilities in the balance sheet and be measured at fair
value.  SFAS 133 also requires changes in fair value of derivatives
to be recorded each period in current earnings or comprehensive
income depending on the intended use of the derivatives.  In June,
2000, the FASB issued SFAS 138, which amends the accounting and
reporting standards of SFAS 133 for certain derivatives and certain
hedging activities.  SFAS 133 and SFAS 138 were adopted by the
Partnership effective January 1, 2001.  The Partnership had no
derivatives in 2003 and 2002.

   Recent Accounting Pronouncements

     In April 2002, FASB issued Statement of Financial Accounting
Standards No. 145, "Rescission of FASB Statements No. 4, 44,
Amendment of FASB No. 13, and Technical Corrections" ("SFAS 145").
Generally, the rescission of FASB No. 4, "Reporting Gains and
Losses from Extinguishment of Debt" would require that debt
extinguishment costs are to no longer be treated as extraordinary
items.  The amendment to FASB No. 13, "Accounting for Leases"
requires sale-leaseback accounting for certain lease modifications
that have the economic effects that are similar to sale-leaseback
transactions.  This statement is generally effective for the year
ending December 31, 2003.

     In November 2002, FASB issued FASB Interpretation No. 45,
"Guarantor's Accounting and Disclosure Requirements for Guarantees,
Including Indirect Guarantees of Indebtedness of Others" (FIN 45).
FIN 45 elaborates on the disclosures to be made by a guarantor in
its interim and annual financial statements about its obligations
under certain guarantees that it has issued and clarifies that a
guarantor is required to recognize, at inception of the guarantee,
a liability for the fair value of the obligation undertaken in
issuing the guarantee.  The initial recognition and measurement
provisions of FIN 45 are applicable to guarantees issued or
modified after December 31, 2002.  The disclosure requirements of
FIN 45 are effective for periods ending after December 15, 2002.

     In January 2003, FASB  issued interpretation No. 46,
"Consolidation of Variable Interest Entities" (FIN 46). FIN 46
addresses consolidation by business enterprises of certain variable
interest entities in which the equity investors do not have the
characteristics of a controlling financial interest or do not have
sufficient equity at risk for the entity to finance its activities
without additional subordinated financial support from other
parties.

   This interpretation was revised in December 2003 and shall, for
calendar year end entities, be effective as of December 31, 2003
for "special purpose entities" (as defined) and as of December 31,
2004 for all other entities.  The Partnership does not own any
"special purpose entities."

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

   The adoption of SFAS 145 and SFAS 150 and FIN 45 and FIN 46 has
not had a significant impact on the Partnership's financial
statements.


(2)  ADJUSTMENT TO LIQUIDATION BASIS

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

   As a result of the contract for sale of Delchamps (see Note 4)
the Partnership's investment in real estate held for sale and the
deferred gain on the sale of real estate were each reduced $713,025
in the second quarter of 2002.  In July 2002 the Partnership's
investment in real estate held for sale and the deferred gain on
the sale of real estate were reduced  by $2,973,475 and $25,852,
respectively, as a result of the Delchamps sale.

   As a result of the contract for sale of Shoppes (see Notes 4
and 7) the Partnership's investment in real estate held for sale
and the deferred gain on the sale of real estate were each reduced
$1,784,500 in the first quarter of 2003.   In May 2003 the
Partnership's investment in real estate held for sale and the
deferred gain on sale of real estate were reduced by $5,997,000 and
$368,638, respectively, as a result of the Shoppes sale.

(3)  PARTNERSHIP AGREEMENT

   The restated Limited Partnership Agreement (the "Agreement")
provides that 99% of the net profits and losses from operations of
the Partnership for each fiscal year of the Partnership shall be
allocated to the Limited Partners and 1% of the net profits and
losses from operations during each of said fiscal years shall be
allocated to the General Partners.

   All Operating Cash Flow, as such term is defined in the
Agreement, during any calendar year shall be distributed 99% to the
Limited Partners and 1% to the General Partners.  The receipt by
the General Partners of such 1% of Operating Cash Flow shall be
subordinated to the receipt by the Limited Partners of Operating
Cash Flow equal to a 10% per annum, cumulative, non-compounded
return on Adjusted Investment, as such term is defined in the
Agreement (the "Preferential Distribution").  In the event the full
Preferential Distribution is not made in any year (herein referred
to as a "Preferential Distribution Deficiency") and Operating Cash
Flow is available in following years in excess of the Preferential
Distribution for said years, then the Limited Partners shall be
paid such excess Operating Cash Flow until they have been paid any
unpaid Preferential Distribution Deficiency from prior years.  For
subscribers who were admitted as Limited Partners during 1986, the
term "Preferential Distribution" shall mean a 12% per annum,
cumulative, non-compounded return on Adjusted Investment.

   No distribution was paid in 2003. The Preferential Distribution
Deficiency equaled $6,998,360 at December 31, 2003.

(4)  MORTGAGE NOTES PAYABLE

   On April 6, 1995, the Partnership obtained a first mortgage
loan in the amount of $6,100,000 (the "First Mortgage Loan")
secured by Shoppes from Morgan Stanley Mortgage Capital, Inc. (the
"Successor Lender").  The First Mortgage Loan bore interest at the
rate of 9.55% per annum, amortized over a 25-year period, required
monthly payments of principal and interest of approximately $53,500
and was scheduled to mature on May 1, 2002.  The lender and the
Partnership had executed an extension of the maturity to December
31, 2002.

   Subsequent to December 31, 2002, the Partnership stopped making
payments to the lender and was in default under the terms of the
mortgage.  However, in the second quarter of 2003, the lender
agreed to an extension of the mortgage loan until June 30, 2003,
subject to the payment of all unpaid payments and late fees for the
period from January 1, 2003 to June 30, 2003 (approximately
$200,000) and the payment of an extension fee of approximately
$27,000.  On April 10, 2003, the Partnership made these payments to
the lender and the default was cured.

   On May 13, 2003, Shoppes was sold to an unrelated third party,
for a gross  purchase price of $6,157,500 and the balance of its
mortgage was paid.


(5)  TRANSACTIONS WITH AFFILIATES

   Fees and other expenses incurred or paid to the General
Partners or their affiliates for the years ended December 31, 2003
and 2002 were as follows:

                                      2003             2002
Management fees (based upon
  6% of "gross receipts" (as
              defined))             $ 21,336         $ 65,783
Reimbursable office expenses         106,417          142,312

   The Partnership had made all payments to affiliates, except for
$993 for management fees, as of December 31, 2003.

(6)   OPERATING LEASES

   The Partnership is the lessor in an operating lease agreement
with a tenant at its remaining property.  The minimum future rental
income to be received on the remaining operating lease (Ponderosa)
is as follows:

For the years ended December 31,:
                       2004                  $    77,010
                       2005                       78,550
                       2006                       80,121
                       2007                       81,724
                       2008                       83,358
                    Thereafter                   795,743
                       Total                  $1,196,506



   Collection of future rental income under this lease agreement
is subject to the financial stability of the underlying tenant.

(7)  PROPERTY SALE

   On May 13, 2003, Shoppes was sold to an unaffiliated third
party for $6,157,000.  After repayment of the mortgage note and
costs related to the sale, the Partnership received approximately
$449,000 in net proceeds.  In addition, the Partnership received
approximately $479,000 from the mortgage holder as a release of
escrow deposits.

   On July 19, 2002, Delchamps was sold to an unaffiliated third
party for $3,050,000.  After repayment of the mortgage note and
costs related to the sale the Partnership received approximately
$288,000 in net proceeds.

                          EXHIBIT INDEX


Exhibit (21)           Subsidiaries of the Registrant


                           Exhibit 21

Name of Subsidiary                            State of Formation

Brauvin/Shoppes on the Parkway L.P.                Delaware

Brauvin/Delchamps L.P.                             Delaware