<PAGE>
PAGE 1
             SECURITIES AND EXCHANGE COMMISSION

                   WASHINGTON, D.C.  20549

                          FORM 10-Q

(Mark one)

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

      For the quarterly period ended September 30, 1995.         
                                
                             OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934

For the transition period from               to               


                   COMMISSION FILE NUMBER 33-13375

                         IDS LIFE ACCOUNT RE
                                 OF
                     IDS LIFE INSURANCE COMPANY
                                                                   
         (Exact name of registrant as specified in its charter)


               MINNESOTA                         41-0823832
                                                                
   (State or other jurisdiction of           (I.R.S. Employer
    incorporation or organization)            Identification No.)


      IDS TOWER 10, MINNEAPOLIS, MINNESOTA             55440-0010
                                                                    
    (Address of principal executive offices)           (Zip Code)


Registrant's telephone number, including area code   (612) 671-3309



Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.        Yes   X     No       

<PAGE>
PAGE 2

The Registrant is a separate account of IDS Life Insurance Company
(IDS Life) established pursuant to the insurance laws of the State
of Minnesota for the purposes of funding real estate variable
annuity contracts.  Unless otherwise specifically noted, the
information set forth herein only relates to the operations of the
Registrant (the "Account") and not to the operations of IDS Life.



                  PART 1 - FINANCIAL INFORMATION


Item 1. FINANCIAL STATEMENTS
<PAGE>
PAGE 3  
                            IDS LIFE ACCOUNT RE
                                     of
                         IDS LIFE INSURANCE COMPANY

                               BALANCE SHEETS
<TABLE>
<CAPTION>
  
  
  
                                                                   September 30,      December 31,
                                                                       1995               1994
                                                                    (unaudited)                   
    <S>                                                            <C>               <C>
    Assets:
     Cash                                                          $   554,628       $   204,859
     Receivable from IDS Life for contracts sold                            --             5,225
     Investments in unconsolidated joint ventures,
       at fair value (cost of $35,748,241 and
       $34,753,104 at September 30, 1995 
       and December 31, 1994, respectively)                         28,103,837        27,044,876
     Participation in mortgage loan, at fair
       value (cost of $3,047,188 at September 30, 1995 
       and December 31, 1994)                                        2,962,242         2,994,023
     Investment in wholly-owned real estate
      property:
       Building, at fair value (cost of $14,128,296
         and $14,010,548 at September 30, 1995 and
         December 31, 1994, respectively)                           12,334,306        12,077,794
       Land, at fair value (cost of $3,915,263
         at September 30, 1995 and December 31, 1994)                3,915,263         3,915,263
       Deferred borrowing costs, net of accumulated
         amortization of $151,114 and $131,726 at
         September 30, 1995 and December 31, 1994, respectively         30,342            49,730
     Other assets                                                       44,992            34,507           
    
         Total assets                                              $47,945,610       $46,326,277
       
    Liabilities:
     Payable to IDS Life for:
       Operating expenses                                          $    60,234       $    58,400
       Contract terminations                                            34,223            10,139
       Revolving loan-principal                                             --         2,100,000
       Revolving loan-interest                                              --             9,224
     Accrued mortality and expense risk fee                             40,142            40,136
     Accrued asset management fee                                       50,178            50,171
     Liabilities related to wholly-owned
      real estate property:
       Accounts payable and other liabilities                          197,255           212,197
       Accrued real estate taxes                                        49,530                --
       Mortgage payable                                              7,791,556         7,852,279
     
         Total liabilities                                           8,223,118        10,332,546
    
    
    Contract Owners' Equity:
     Net assets applicable to Variable Annuity 
       contracts in accumulation period                            $39,722,492       $35,993,731
       
    Accumulation units outstanding                                  36,491,463        34,238,180
    
    Net asset value per accumulation unit                          $      1.09       $      1.05
    
    
    
    See accompanying notes to financial statements.  <PAGE>
PAGE 4
                            IDS LIFE ACCOUNT RE
                                    of
                         IDS LIFE INSURANCE COMPANY

                          STATEMENTS OF OPERATIONS
                                (unaudited)
    
    
    
                                                                      For the nine months ended 

                                                                   September 30,     September 30,
                                                                       1995              1994    
    Income:
     Interest income                                               $   198,966       $   219,335
     Account's equity in earnings of 
       unconsolidated joint ventures                                 1,453,176         1,472,882
     Rental income                                                   1,794,031         1,724,954
     Unrealized (depreciation) of participation 
       in mortgage loan                                                (27,817)             (848)
     Unrealized appreciation (depreciation) of 
       investments in unconsolidated joint ventures                     63,824          (497,997)
     Unrealized appreciation of investment in 
       wholly-owned real estate property                               138,764                -- 
    
         Total income                                                3,620,944         2,918,326 
    
    
    Expenses:
     Asset management fee                                              445,113           612,652
     Mortality and expense risk fee                                    356,091           380,282
     Amortization of deferred organizational
       and borrowing costs                                              19,389            19,388
     Revolving loan interest                                           100,736             4,190
     Other operating expenses                                           56,734            63,815
     Operating expenses related to wholly-owned 
      real estate property:
       Interest                                                        557,096           562,623
       Utilities                                                       121,731           137,156
       Repairs and maintenance                                         172,432           138,915
       Property and other taxes                                        141,352           150,775
       Salaries                                                        125,871           159,068
       Management fees                                                  88,786            85,356
       Other                                                           117,413           153,454 
     
         Total expenses                                              2,302,744         2,467,674 
    
    Net income                                                     $ 1,318,200       $   450,652 
        
    
    See accompanying notes to financial statements.
  <PAGE>
PAGE 5  
                            IDS LIFE ACCOUNT RE
                                    of
                         IDS LIFE INSURANCE COMPANY

                          STATEMENTS OF OPERATIONS
                                (unaudited)
    
  
    
                                                                       For the three months ended

                                                                   September 30,     September 30,
                                                                       1995              1994    
    Income:
     Interest income                                               $    66,323       $    67,268
     Account's equity in earnings of 
       unconsolidated joint ventures                                   488,715           519,374
     Rental income                                                     596,535           610,243
     Unrealized (depreciation) of participation
       in mortgage loan                                                (22,586)           (1,740)
     Unrealized appreciation of investment in wholly-owned
       real estate property                                             93,875                -- 
    
         Total income                                                1,222,862         1,195,145 
    
    
    Expenses:
     Asset management fee                                              157,266           295,119
     Mortality and expense risk fee                                    125,814           126,255
     Amortization of deferred organizational
       and borrowing costs                                               6,462             6,533
     Revolving loan interest                                                --             4,190
     Other operating expenses                                           24,793            11,526
     Operating expenses related to wholly-owned 
      real estate property:
       Interest                                                        185,214           187,101
       Utilities                                                        17,556            32,002
       Repairs and maintenance                                          67,210            47,279
       Property and other taxes                                         44,692            49,455
       Salaries                                                         45,653            61,773
       Management fees                                                  30,347            29,084
       Other                                                            34,413            59,212 
     
         Total expenses                                                739,420           909,529 
     
    
    Net income                                                     $   483,442       $   285,616 
 
    
    See accompanying notes to financial statements.
<PAGE>
PAGE 6
                              IDS LIFE ACCOUNT RE
                                      of
                           IDS LIFE INSURANCE COMPANY

                            STATEMENTS OF CASH FLOWS
                                  (unaudited)

      
                                                                      For the nine months ended 

                                                                   September 30,     September 30,
                                                                       1995              1994    
    Cash flows from operating activities:
     Net Income                                                    $ 1,318,200       $   450,652
    
     Adjustments to reconcile net income to net cash
     used in operating activities:
       Account's equity in earnings of unconsolidated
         joint ventures                                             (1,453,176)       (1,472,882)
       Change in accrued interest on participation
         in mortgage loan                                                3,965                --
       Amortization of organizational and borrowing costs               19,388            19,389
       Change in unrealized (appreciation) depreciation of
         investments in unconsolidated joint ventures                  (63,824)          497,997
       Change in unrealized depreciation of participation
         in mortgage loan                                               27,817               848
       Change in unrealized (appreciation) of investment 
         in wholly-owned real estate property                         (138,764)               --
       Change in other assets                                          (10,485)           26,400
       Change in payable to IDS Life for operating expenses              1,834           (20,095)
       Change in accrued mortality and expense risk fee                      6            (3,872)
       Change in accrued asset management fee                                7            (4,840)
       Change in payables and other liabilities related
         to wholly-owned real estate property                           34,588            10,532
       Change in payable to IDS Life for revolving loan interest        (9,224)            2,986 
     
           Total adjustments to net income                          (1,587,868)         (943,537)
    
           Net cash provided by (used in) operating activities        (269,668)         (492,885)
         
    Cash flows from investing activities:
     Net sales of short-term securities                                     --         2,493,649
     Capital improvements to wholly-owned real estate property        (117,748)          (51,471)
     Distributions received from joint ventures                      1,143,190         1,119,030 
   
           Net cash provided by investing activities                 1,025,442         3,561,208 
   
    Cash flows from financing activities:
     Proceeds from sales of contracts                               19,501,099         1,177,291
     Payments for contract terminations                            (17,061,230)       (5,267,871)
     Decrease in mortgage payable                                      (60,723)          (55,240)
     Change in payable to IDS Life for revolving loan               (2,100,000)        1,100,000
     Contributions to Monmouth renovation-joint venture               (685,151)               -- 
   
           Net cash used in financing activities                      (406,005)       (3,045,820)
   
    Net increase in cash                                               349,769            22,503
    Balance of cash at beginning of year                               204,859           171,242 

    Balance of cash at end of period                               $   554,628       $   193,745 
    
    
    Supplemental cash flow disclosure:
     Cash paid for mortgage interest & revolving
       loan interest                                               $   657,832       $   562,623 
    
    
    See accompanying notes to financial statements.  
   
 </TABLE>    <PAGE>
PAGE 7
                IDS LIFE ACCOUNT RE
                        of
            IDS LIFE INSURANCE COMPANY

                September 30, 1995

           NOTES TO FINANCIAL STATEMENTS
                    (unaudited)

1.   GENERAL

     In the opinion of the management of IDS Life, the
     accompanying unaudited financial statements for IDS Life
     Account RE (the "Account") contain all adjustments
     (consisting of only normal recurring adjustments) necessary
     to present fairly its balance sheets as of September 30, 1995
     and December 31, 1994; statements of operations for the three
     and nine months ended September 30, 1995 and 1994; and the
     statements of cash flows for the nine months ended 
     September 30, 1995 and 1994.  These statements are condensed
     and therefore do not include all of the information and
     footnotes required by generally accepted accounting
     principles for complete financial statement disclosure. The
     statements should be read in conjunction with the Account's
     financial statements as of and for the year ended December
     31, 1994 and the notes thereto contained in the Account's
     prospectus dated April 28, 1995.  The results of operations
     for the nine months ended September 30, 1995 are not
     necessarily indicative of the results expected for the 
     full year.


2.   INVESTMENTS IN UNCONSOLIDATED JOINT VENTURES

     Unconsolidated Joint Ventures - Summary Information

     Summary information for the Account of its investments in
     unconsolidated joint ventures for the nine months ended 
     September 30, 1995 and 1994 is as follows:

                                        For the nine months ended
                                               September 30
                                            1995          1994

      Account's share of net
       investment income from
       unconsolidated joint ventures   $ 1,453,176    $ 1,472,882  

      Total net investment income of
       unconsolidated joint ventures   $18,284,571    $18,358,035

      Total income of unconsolidated
       joint ventures                  $34,014,000    $34,936,162

 
<PAGE>
PAGE 8
Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL          
         CONDITION AND RESULTS OF OPERATIONS


Financial Condition and Results of Operations

For the Nine Months Ended September 30, 1995 Compared to the Nine
Months Ended September 30, 1994 - 

Net assets increased from $35,993,731 at December 31, 1994 to 
$39,722,492 at September 30, 1995.  During this same time period,
the accumulation unit value increased from $1.05 to $1.09.  The
Account experienced net sales amounting to $2,439,870 for the nine
months ended September 30, 1995 compared to net terminations of
$4,090,580 for the nine months ended September 30, 1994.  The net
sales for the nine months ended September 30, 1995 include
approximately $19,300,000 for accumulation units purchased by IDS
Life, which has been used in part to repay principal and accrued
interest on the Account's revolving loan payable to IDS Life, as
discussed more fully below.
   
Recorded net income for the nine months ended September 30, 1995
was $1,318,200 compared to $450,652 for the nine months ended 
September 30, 1994.

Interest income for the nine months ended September 30, 1995
primarily represents income earned on the Account's investment in
the participation in a mortgage loan.  Income generated from
participation in the mortgage loan remained relatively unchanged
compared to the corresponding period in 1994.  The Silo Electronic
store (12,100 sq. ft.) at Riverpoint Shopping Center vacated its
space in the third quarter 1995, and the borrower is pursuing its
legal remedies regarding such unpaid amounts.  The borrower has 
re-leased the space to a book store for three months at a
substantially lower rent.  The borrower has a letter of intent from
a prospective tenant to lease the space for five years with rent
commencing on July 1, 1996.  As a result of this vacancy, the
borrower has notified the lenders that it is experiencing financial
difficulties and has approached the lenders regarding a loan
modification.  The lenders are considering the borrower's request. 
As of the date of this report, certain escrow payments and
participation interest are due to the lenders; however, the
borrower is current in its monthly debt service payments.  Interest
income for the nine months ended September 30, 1994 also includes
interest earned on short-term investments of approximately $20,847.

For the nine months ended September 30, 1995, the Account's
recorded equity in earnings of its unconsolidated joint ventures
(N/S Associates, Monmouth Associates and 1225 Connecticut) was
$1,453,176, compared to $1,472,882 for the nine months ended 
September 30, 1994.  However, after eliminating the effect of the
timing of certain adjustments in the income and expense of the
unconsolidated joint ventures, including the recognition in the
first quarter of 1995 of income attributable to certain lease
termination fees received by N/S Associates in the prior quarter,
the equity in earnings of unconsolidated joint ventures showed a
decline for the nine months of 1995 of approximately 12 percent<PAGE>
PAGE 9
compared to the recorded equity in earnings for the six months of
1994.  Earnings of 1225 Connecticut for the first nine months of
1995 declined primarily due to the rent credit allowed to Ernst &
Young for its fourth floor space commencing with the beginning of
this year for a twenty-one month period.  Earnings of N/S
Associates for the nine months of 1995 declined primarily due to
lower rental revenues.  In addition, Monmouth Associates ceased
accruing interest on loans made to the borrower/lessee for certain
tenant improvement and other capital expenditures due to the
uncertainty of collecting such amounts in future periods.

In addition, the Account recorded rental income of $1,794,031 for
the nine months ended September 30, 1995 from its wholly-owned real
estate investment, West Springfield Terrace Apartments, compared to
$1,724,954 for the nine months ended September 30, 1994, primarily
due to a modest increase in effective rental rates.  Expenses
related to the wholly-owned real estate investment totaled
$1,324,681 for the nine months ended September 30, 1995 compared to
$1,387,347 for the corresponding period in 1994.

For the nine months ended September 30, 1995, the Account
recognized net unrealized depreciation of participation in mortgage
loan of $27,817, and net unrealized appreciation on its investment
in wholly-owned real estate property of $138,764 due to a reduction
in estimated capital expenditures to be required in future years at
the property, and net unrealized appreciation on its investment in
unconsolidated joint ventures of $63,824.  The net unrealized
appreciation in investments in unconsolidated joint ventures
reflects a modest increase in the Account's share of the estimated
value of 1225 Connecticut, partially offset by a decrease in the
Account's investment in N/S Associates related to a write down in
the estimated value of Southridge Mall.

Northridge Mall continues to be adversely affected by the
perception that it is an unsafe place to shop.  This perception has
resulted in declining sales and occupancy over the past three
years.  Compounding the problem of declining sales are the high
operating costs for tenants at the mall due to high real estate
taxes.  Occupancy has also been affected by tenant bankruptcies
during 1993 and 1994.  As of September 30, 1995, occupancy of the
mall shops was approximately 87%, including temporary tenants under
short term leases.

To counter the negative perception of Northridge Mall, N/S
Associates has implemented certain capital improvements and
operational programs to improve the shopping center's safety and
appearance, as well as instituted certain marketing efforts to
enhance its image.  However, elimination of the negative perception
is expected to take some time.  In addition, N/S Associates is
seeking to increase occupancy at the shopping center by
aggressively marketing space for new and renewal tenants through
leasing incentives, as well as continuing to cooperate with
existing tenants who need short-term rent reductions in order to
retain occupancy of their space.  Part of the leasing strategy
includes targeting certain well-recognized retailers as a group
that would become tenants at the shopping center.  It is expected
that the draw of this group of tenants would help the shopping
center gain leasing momentum and aid in future leasing efforts.<PAGE>
PAGE 10
Kohl's Department Store, a successful tenant occupying
approximately 66,000 square feet of space at Southridge Mall, 
approached N/S Associates regarding an expansion of its tenant
space and a reduction in its overall leasing costs.  During the
third quarter of 1995, N/S Associates and Kohl's entered into an
amendment of its lease.  Pursuant to the lease amendment, the term
of Kohl's lease has been extended from 2001 until 2015 and the
tenant space has been increased by approximately 19,000 square feet
to approximately 85,000 square feet, exclusive of storage space. 
Kohl's is required to pay annual base rent of $9.25 per square
foot, as well as one-half of its pro rata share for real estate
taxes and a fixed amount for common area maintenance expense. 
Kohl's is also obligated to pay as additional rent a percentage of
its gross receipts in excess of a minimum amount of annual sales to
be determined after the tenant has occupancy of the entire leased
space.  N/S Associates is responsible for paying the costs of
asbestos removal for the tenant space, which is estimated to be
approximately $1,250,000.  Kohl's is obligated to pay other costs
associated with the leased space, including tenant improvements and
lease buy-out and relocation costs, if any, of other tenants (one
of whose lease continues until 2001) that currently occupy a
portion of the expansion space.  The lease amendment also contains
an operating covenant pursuant to which Kohl's is obligated to
operate its retail store at Southridge Mall until 2005, subject to
earlier termination under certain circumstances.  Although the
lease amendment reduces Kohl's overall rent, the expansion of its
space and the extension of its lease term is expected to stabilize
the shopping center on a long-term basis by ensuring Kohl's
continued occupancy and therefore its continued contribution to
customer traffic.  The Account expects to recognize unrealized
depreciation in the estimated value of Southridge Mall during the
fourth quarter relating to the lease amendment with Kohl's.  As of
September 30, 1995, occupancy of the portion of Southridge Mall
owned by N/S Associates was approximately 93 percent, including
temporary tenants under short-term leases.

The Account paid asset management and mortality expense risk fees
of $801,204 and $992,934 for the nine months ended September 30,
1995 and 1994, respectively.  The decrease in fees is primarily due
to the payment of the incentive asset management fees of $137,299
paid in 1994 to the Investment Adviser based upon the performance
of the Account's real property investments relative to the FRC
Property Index.  No incentive asset management fee was payable in
1995.


For the Three Months Ended September 30, 1995 Compared to the Three
Months Ended September 30, 1994 - 

Recorded net income for the three months ended September 30, 1995
was $483,442 compared to $285,616 for the three months ended 
September 30, 1994.

During the three months ended September 30, 1995, $488,715 of
income was attributable to the Account's recorded equity in
earnings of its unconsolidated joint ventures (N/S Associates,
Monmouth Associates, and 1225 Connecticut) compared to $519,374 for<PAGE>
PAGE 11
the corresponding three months in 1994.  The decrease of
approximately $31,000 was attributable in part to the rent credit
allowed Ernst & Young for certain of its space at 1225 Connecticut.

The Account recorded rental income of $596,535 for the three months
ended September 30, 1995 from its wholly-owned real estate
investment, West Springfield Terrace Apartments, compared to
$610,243 for the three months ended September 30, 1994.  Expenses
related to the wholly-owned real estate investment totaled $425,085
for the three months ended September 30, 1995 compared to $465,906
for the corresponding period in 1994.

The Account paid total asset management and mortality expense risk
fees for the three months ended September 30, 1995 of $283,080
compared to $421,374 for the corresponding period in 1994.  The
decrease in fees reflects the payment of the incentive asset
management fee in 1994, as discussed above.


Liquidity and Capital Resources

For the Nine Months Ended September 30, 1995 Compared to the Nine
Months Ended September 30, 1994 -

At September 30, 1995, the Account had cash of approximately
$555,000 as compared to approximately $205,000 at December 31,
1994. The Account financed a portion of the contract terminations
during the third quarter of 1995 through additional investments
made by IDS Life Insurance Company (IDS Life).  The Account had
experienced net contract terminations in 14 consecutive quarters
with net sales (including accumulation units purchased by IDS Life)
in the last two quarters.

The liquidity requirements of the Account have generally been met
by funds provided from the Account's short-term investments, cash
distributions from unconsolidated joint ventures, operating cash
flow, interest income, proceeds from sales of contracts, and
borrowings under the line of credit from IDS Life and purchases of
accumulation units by IDS Life discussed below.  The primary uses
of funds currently are expected to be for property operating
expenses, asset management and mortality and expense risk fees,
payments for contract terminations and contributions to pay the
Account's share of the financing of the Monmouth Mall renovation
discussed below.

In March 1994, the Account obtained a revolving line of credit for
up to $10 million from IDS Life to pay for contract surrenders and
other obligations under the contracts.  In June 1995, the revolving
credit loan balance of $9,500,000 and accrued interest were repaid
as discussed below.

Effective May 1, 1995, new contract sales of the Account were
discontinued.  Additional purchase payments continue to be accepted
for existing contracts in amounts specified in the
Account's prospectus, whether by means of the previously
established bank authorizations or otherwise.  Existing contracts
also continue to be serviced and surrender requests will be
honored.  <PAGE>
PAGE 12
IDS Life continues to purchase accumulation units in order to
maintain the Account and its liquidity.  IDS Life makes these
payments so that no contract holder is disadvantaged because sales
of new contracts have been discontinued.  The initial payments for
accumulation units that IDS Life made into the Account were used to
pay off the amount that the Account had borrowed under its
revolving line of credit.  IDS Life will make additional payments
into the Account for accumulation units as needed in order to fund
all of the Account's obligations under the contracts such as paying
death benefits and contract terminations.

By purchasing accumulation units, IDS Life has an ownership
interest in the Account.  Since IDS Life does not purchase a
contract, it is not subject to surrender charges.  However, IDS
Life, as holder of accumulation units, participates in the increase
or decrease in the value of the Account's investments just as other
owners of accumulation units do.  IDS Life may realize a gain or
loss on its accumulation units when redeemed.

IDS Life currently expects to hold the accumulation units it
purchases until the surrender of all outstanding contracts or until
the Account's liquidity improves (through, for example, one or more
sales of real estate related investments) thereby permitting the
Account to satisfy its anticipated contract obligations.  Because
IDS Life may purchase a significant amount of accumulation units,
IDS Life may be subject to certain conflicts of interest it would
not otherwise have if it had not purchased such accumulation units,
including, among other things, a conflict in approving periodic
valuations of real estate investments made by the Investment
Adviser.

Since the Account has experienced substantial net contract
terminations over the past several years, the Account does not
intend to acquire additional real estate related investments. 
Further, the Account intends to liquidate the real estate related
investments that it currently holds when it becomes advantageous or
necessary to do so.  To the extent funds of the Account are not
used to pay obligations of the Account, including those under
existing contracts, or the redemption of accumulation units
purchased by IDS Life, such funds will be invested in short-term
debt instruments and possibly intermediate-term bonds with
maturities of up to five years.

Through September 30, 1995, Monmouth Associates had funded
approximately $20,800,000 of the renovation loan for Monmouth Mall,
with approximately $1,600,000 of accrued and deferred interest
added to the loan for an outstanding balance of approximately
$22,400,000.  Fundings of principal on the loan have been made from
cash reserves held by Monmouth Associates, cash flow from interest
and ground rent payments received from the borrower/lessee and
capital contributions made to Monmouth Associates by its partners
pro rata based upon their respective interests.  The aggregate
amount of capital contributions to finance the loan, including one
made in July 1995, is approximately $9,830,000.  The Account's
share of these capital contributions is approximately $685,000. 
The aggregate amount of the renovation loan, including accrued and<PAGE>
PAGE 13
deferred interest, is currently expected to be approximately
$26,600,000.  Remaining fundings for the renovation loan are
expected to be made from cash flow and funds currently held by
Monmouth Associates.  Monmouth Associates may also be required to
make certain additional loans to pay a portion of the costs of
certain tenant improvements or other ordinary capital expenditures. 
In addition, Monmouth Associates may provide additional financing
to the borrower/lessee in order to pay costs to be incurred in
connection with the replacement of a department store tenant at
Monmouth Mall.  However, it is not currently expected that this
would occur during 1995.

The renovation is nearing completion with tenant improvement work
for one of the larger tenants and retainage work remaining.  The
occupancy of mall shops and outparcel space at the shopping center
as of September 30, 1995 was approximately 67 percent.  However,
the mall shops and outparcel space are approximately 82 percent
leased, including leases whose terms will commence after renovation
of the tenant space permits occupancy.

The Account has a loan outstanding in the principal amount of
approximately $7,792,000 as of September 30, 1995, secured by its
wholly-owned real estate investment, West Springfield Terrace
Apartments.  The loan has an original term of seven years and bears
interest at a rate of 9.5 percent per annum.  The loan requires
monthly payments of principal and interest aggregating $824,000 per
annum until November of 1996 when the remaining principal balance
of approximately $7,704,000 and any accrued and unpaid interest
will be due and payable.  The current budget for capital
expenditures during 1995 reflects an increase of about $27,000 to
approximately $146,000 due to certain previously unexpected
repairs.  In addition, certain other capital items previously
planned for 1995 will be deferred.

N/S Associates currently expects that it will incur approximately
$2,000,000 in 1995 for tenant improvement and other capital items
at Northridge and Southridge Malls.  An additional approximately
$1,700,000 that had previously been budgeted for tenant improvement
costs in 1995 is now expected to be incurred during 1996.  N/S
Associates undertakes asbestos removal from time to time at
portions of the Northridge and Southridge Malls as tenant spaces
are vacated and prior to occupancy by new tenants.  The cost of
such asbestos removal generally will be provided out of cash flows
from the properties.  

At September 30, 1995, real property investments (through two
unconsolidated joint ventures, N/S Associates and 1225 Connecticut
and a wholly-owned property, West Springfield Terrace Apartments),
mortgage loan and land sale-leaseback investments (through an
unconsolidated joint venture, Monmouth Associates, and a
participation in the loan for Riverpoint Center) and short-term
investments represented 70 percent, 29 percent and 1 percent
of total assets, respectively.  At September 30, 1994, real
property investments, mortgage loan and land sale-leaseback
investments and short-term investments represented 72 percent, 
27.5 percent and .5 percent of total assets, respectively.
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PAGE 14
                      PART II.  OTHER INFORMATION
                      ---------------------------

Item 1. LEGAL PROCEEDINGS

        There are no material current or pending legal proceedings  
        which the Registrant is a party to, or to which the         
        Registrant's assets are subject.

Item 2. CHANGES IN SECURITIES

        Not applicable

Item 3. DEFAULTS UPON SENIOR SECURITIES

        Not applicable

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

        Not applicable

Item 6. EXHIBITS AND REPORTS ON FORM 8-K

        (A) Exhibits

            4.1 Form of Deferred Variable Annuity Contract is       
                hereby incorporated herein by reference to Exhibit 
                4 to the Account's Form S-1 (as amended), File
                Number 33-13375, filed July 17, 1987.

            4.2 Copy of mortgage loan documents relating to West
                Springfield Terrace Apartments is hereby            
                incorporated herein by reference to Exhibit 4.2 to  
                the Account's Form S-1 (as amended), File Number    
                33-13375, filed April 12, 1990.

            4.3 Copy of the line of credit agreement, dated 
                March 30, 1994 between IDS Life and the Account     
                (including a copy of the executed promissory note,  
                dated March 30, 1994) is hereby incorporated by     
                reference to Exhibit 4.3 to the Account's Form 10-K 
                Report for the year ended December 31, 1993, File   
                Number 33-13375, filed April 5, 1994.

           10.1 Copy of Investment Advisory Agreement between IDS   
                Life and JMB Annuity Advisors is hereby             
                incorporated herein by reference to Exhibit 10.1 to 
                the Account's Form S-1 (as amended), File Number    
                33-13375, filed April 29, 1988.

           10.2 Copy of N/S Associates Joint Venture Agreement      
                together with certain documents relating to the     
                purchase of an interest in Northridge Mall is       
                hereby incorporated herein by reference to Exhibit  
                10.2 to the Account's Form S-1 (as amended), File   
                Number 33-13375, filed April 29, 1988.

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PAGE 15
         10.2.1 Copy of Second Amended and Restated Articles of     
                Partnership of N/S Associates hereby incorporated   
                herein by reference to Exhibit 10.2.1 to the        
                Account's Form S-1 (as amended), File Number
                33-13375, filed April 20, 1989.

           10.3 Copy of N/S Associates Joint Venture Agreement      
                together with certain documents relating to the
                purchase of an interest in Southridge Mall is       
                hereby incorporated herein by reference to
                Exhibit 10.3 to Form S-1 (as amended), File
                Number 33-13375, filed April 29, 1988.

           10.4 Copy of Commitment Letter relating to the funding 
                of a participating mortgage loan secured by         
                Riverpoint Center is hereby incorporated herein by
                reference to Exhibit 10.4 to Form S-1 (as amended),
                File Number 33-13375, filed October 11, 1988.

           10.5 Copy of Amended and Restated Articles of            
                Partnership of Monmouth Associates are hereby       
                incorporated herein by reference to Exhibit 10.5 to 
                the Account's Form S-1 (as amended), File Number
                33-13375, filed April 12, 1990.

           10.6 Copy of Agreement together with certain other       
                documents relating to the purchase of West          
                Springfield Terrace Apartments is hereby            
                incorporated herein by reference to Exhibit 10.6 to 
                Form S-1 (as amended), File Number 33-13375, filed
                October 16, 1989.

           10.7 Copy of Agreement together with certain documents   
                relating to the purchase of an interest in 1225     
                Connecticut Avenue is hereby incorporated herein by
                reference to the Account's Form S-1 (as amended),   
                File Number 33-13375, filed June 29, 1990.

           27.1 Financial Data Schedule of the Account for the      
                period ended September 30, 1995 is filed herewith.

        (B) Report on Form 8-K

            No reports on Form 8-K were required to be filed by the 
            Registrant for the nine months ended September 30,
1995.

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PAGE 16
                           SIGNATURES

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


                         IDS LIFE ACCOUNT RE
                                 of
                      IDS LIFE INSURANCE COMPANY
                                                
                             (Registrant)




Date:  November 14, 1995                   /S/ Melinda Urion   
                                           Melinda S. Urion
                                           Executive Vice President
                                                and Controller

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