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

                           FORM 10-QSB

           Quarterly Report Under Section 13 or 15(d)
             of The Securities Exchange Act of 1934

              For the Quarter Ended:  June 30, 2002

                Commission file number:  0-14089


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


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


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

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


                         Not Applicable
 (Former name, former address and former fiscal year, if changed
                       since last report)

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

                         Yes  [X]   No

         Transitional Small Business Disclosure Format:

                         Yes        No  [X]




           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP


                              INDEX




PART I. Financial Information

 Item 1. Balance Sheet as of June 30, 2002 and December 31, 2001

         Statements for the Periods ended June 30, 2002 and 2001:

           Income

           Cash Flows

           Changes in Partners' Capital

         Notes to Financial Statements

 Item 2. Management's Discussion and Analysis

PART II. Other Information

 Item 1. Legal Proceedings

 Item 2. Changes in Securities

 Item 3. Defaults Upon Senior Securities

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

 Item 5. Other Information

 Item 6. Exhibits and Reports on Form 8-K

<PAGE>
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                          BALANCE SHEET

               JUNE 30, 2002 AND DECEMBER 31, 2001

                           (Unaudited)

                             ASSETS

                                                      2002           2001

CURRENT ASSETS:
  Cash and Cash Equivalents                      $   286,272    $   341,244
  Receivables                                              0         21,164
                                                  -----------    -----------
      Total Current Assets                           286,272        362,408
                                                  -----------    -----------
INVESTMENTS IN REAL ESTATE:
  Land                                             1,717,611      1,781,122
  Buildings and Equipment                          4,259,523      4,367,409
  Accumulated Depreciation                        (1,254,738)    (1,183,364)
                                                  -----------    -----------
      Net Investments in Real Estate               4,722,396      4,965,167
                                                  -----------    -----------
          Total Assets                           $ 5,008,668    $ 5,327,575
                                                  ===========    ===========


                       LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.           $    57,068    $    33,687
  Distributions Payable                               88,803        117,294
  Unearned Rent                                       11,930              0
                                                  -----------    -----------
      Total Current Liabilities                      157,801        150,981
                                                  -----------    -----------
PARTNERS' CAPITAL (DEFICIT):
  General Partners                                    (4,223)             0
  Limited Partners, $1,000 Unit value;
   7,500 Units authorized and issued;
   7,261Units outstanding                          4,855,090      5,176,594
                                                  -----------    -----------
      Total Partners' Capital                      4,850,867      5,176,594
                                                  -----------    -----------
        Total Liabilities and Partners' Capital  $ 5,008,668    $ 5,327,575
                                                  ===========    ===========


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

                       STATEMENT OF INCOME

                  FOR THE PERIODS ENDED JUNE 30

                           (Unaudited)


                              Three Months Ended        Six Months Ended
                             6/30/02      6/30/01      6/30/02     6/30/01

INCOME:
   Rent                     $ 132,405    $ 157,128    $ 264,477   $ 309,759
   Investment Income              950       17,654        2,002      31,823
                             ---------    ---------    ---------   ---------
        Total Income          133,355      174,782      266,479     341,582
                             ---------    ---------    ---------   ---------

EXPENSES:
   Partnership Administration -
     Affiliates                30,839       31,449       67,718      61,097
   Partnership Administration
     and Property Management -
     Unrelated Parties         42,363        4,810       52,539      12,683
   Depreciation                35,687       32,888       71,374      65,777
   Real Estate Impairment     171,397            0      171,397           0
                             ---------    ---------    ---------   ---------
        Total Expenses        280,286       69,147      363,028     139,557
                             ---------    ---------    ---------   ---------

NET INCOME (LOSS)           $(146,931)   $ 105,635    $ (96,549)  $ 202,025
                             =========    =========    =========   =========

NET INCOME (LOSS) ALLOCATED:
   General Partners         $  (2,435)   $   4,556    $  (1,931)  $   5,520
   Limited Partners          (144,496)     101,079      (94,618)    196,505
                             ---------    ---------    ---------   ---------
                            $(146,931)   $ 105,635    $ (96,549)  $ 202,025
                             =========    =========    =========   =========

NET INCOME (LOSS) PER
 LIMITED PARTNERSHIP UNIT
 (7,261 and 7,286 weighted average
 Units outstanding in 2002 and 2001,
 respectively.)             $  (19.90)   $   13.87    $  (13.03)  $   26.97
                             =========    =========    =========   =========


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

                     STATEMENT OF CASH FLOWS

                  FOR THE PERIODS ENDED JUNE 30

                           (Unaudited)

                                                    2002           2001

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income (Loss)                            $   (96,549)    $   202,025

   Adjustments to Reconcile Net Income to Net Cash
   Provided by Operating Activities:
     Depreciation                                    71,374          65,777
     Real Estate Impairment                         171,397               0
     Decrease in Receivables                         21,164          23,255
     Increase (Decrease) in Payable to
        AEI Fund Management, Inc.                    23,381          (7,135)
     Increase in Deferred Income                     11,930          18,974
                                                 -----------     -----------
        Total Adjustments                           299,246         100,871
                                                 -----------     -----------
        Net Cash Provided By
        Operating Activities                        202,697         302,896
                                                 -----------     -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
   Investments in Real Estate                             0        (136,394)
                                                 -----------     -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Increase (Decrease) in Distributions Payable     (28,491)             59
   Distributions to Partners                       (229,178)       (260,859)
                                                 -----------     -----------
        Net Cash Used For
        Financing Activities                       (257,669)       (260,800)
                                                 -----------     -----------

NET DECREASE IN CASH AND CASH EQUIVALENTS           (54,972)        (94,298)

CASH AND CASH EQUIVALENTS, beginning of period      341,244         370,051
                                                 -----------     -----------
CASH AND CASH EQUIVALENTS, end of period        $   286,272     $   275,753
                                                 ===========     ===========


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

            STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                  FOR THE PERIODS ENDED JUNE 30

                           (Unaudited)


                                                                   Limited
                                                                 Partnership
                             General      Limited                   Units
                             Partners     Partners     Total     Outstanding


BALANCE, December 31, 2000  $(10,288)   $5,327,560   $5,317,272    7,285.55

  Distributions               (2,609)     (258,250)    (260,859)

  Net Income                   5,520       196,505      202,025
                             ---------   ----------   ----------  ----------
BALANCE, June 30, 2001      $ (7,377)   $5,265,815   $5,258,438    7,285.55
                             =========   ==========   ==========  ==========


BALANCE, December 31, 2001  $      0    $5,176,594   $5,176,594    7,261.00

  Distributions               (2,292)     (226,886)    (229,178)

  Net Loss                    (1,931)      (94,618)     (96,549)
                             ---------   ----------   ----------  ----------
BALANCE, June 30, 2002      $ (4,223)   $4,855,090   $4,850,867    7,261.00
                             =========   ==========   ==========  ==========


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

                  NOTES TO FINANCIAL STATEMENTS

                          JUNE 30, 2002

                           (Unaudited)


(1)  The  condensed  statements included herein have been  prepared
     by  the Partnership, without audit, pursuant to the rules  and
     regulations  of  the Securities and Exchange  Commission,  and
     reflect   all  adjustments  which  are,  in  the  opinion   of
     management,  necessary to a fair statement of the  results  of
     operations for the interim period, on a basis consistent  with
     the  annual audited statements.  The adjustments made to these
     condensed   statements  consist  only  of   normal   recurring
     adjustments.   Certain information, accounting  policies,  and
     footnote    disclosures   normally   included   in   financial
     statements  prepared  in  accordance with  generally  accepted
     accounting principles have been condensed or omitted  pursuant
     to  such  rules  and  regulations,  although  the  Partnership
     believes  that  the  disclosures  are  adequate  to  make  the
     information  presented not misleading.  It is  suggested  that
     these  condensed financial statements be read  in  conjunction
     with  the  financial statements and the summary of significant
     accounting  policies  and  notes  thereto  included   in   the
     Partnership's latest annual report on Form 10-KSB.

(2)  Organization -

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

     The   terms   of  the  Partnership  offering  call   for   a
     subscription  price of $1,000 per Limited Partnership  Unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced  operations  on  October  3,  1986  when   minimum
     subscriptions    of   1,300   Limited   Partnership    Units
     ($1,300,000)  were  accepted.  On  December  30,  1986,  the
     offering  terminated when the maximum subscription limit  of
     7,500  Limited  Partnership Units was  reached.   Under  the
     terms  of  the  Limited Partnership Agreement,  the  Limited
     Partners   and   General  Partners  contributed   funds   of
     $7,500,000 and $1,000, respectively.

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


           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                          JUNE 30, 2002
                           (Continued)

(2)  Organization - (Continued)

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

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

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

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

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                          JUNE 30, 2002
                           (Continued)

(3)  Investments in Real Estate -

     On  May 8, 2000, the Partnership purchased a 22% interest in
     a parcel of land in Austin, Texas for $299,200.  The land is
     leased to Razzoo's, Inc. (RI) under a Lease Agreement with a
     primary  term  of  15  years and annual rental  payments  of
     $25,432.   Effective October 4, 2000, the  annual  rent  was
     increased  to $29,172.  Simultaneously with the purchase  of
     the   land,  the  Partnership  entered  into  a  Development
     Financing  Agreement  under which the  Partnership  advanced
     funds to RI for the construction of a Razzoo's restaurant on
     the  site.   Initially, the Partnership charged interest  on
     the  advances at a rate of 8.5%.  Effective October 4,  2000
     and April 15, 2001, the interest rate was increased to 9.75%
     and   15%,  respectively.   On  June  27,  2001,  after  the
     development  was completed, the Lease Agreement was  amended
     to   require   annual  rental  payments  of  $69,970.    The
     Partnership's   share  of  the  total   acquisition   costs,
     including the cost of the land, was $714,689.  The remaining
     interests in the property are owned by AEI Real Estate  Fund
     XVII Limited Partnership, AEI Net Lease Income & Growth Fund
     XIX  Limited Partnership, and AEI Income & Growth Fund  XXII
     Limited Partnership, affiliates of the Partnership.

     In  May, 2001, Huntington Restaurants Group, Inc. (HRG), the
     lessee  of  the Denny's Restaurant, notified the Partnership
     that  it  was experiencing financial problems and would  not
     make  the lease payments while they worked out a plan  which
     would  enable  them to continue operations  without  seeking
     bankruptcy  protection.  For the six months ended  June  30,
     2002  and the year ended December 31, 2001, HRG owed $63,498
     and  $72,912 for past due rent, which has not been  accrued.
     In  the  second  quarter of 2002, the  Partnership  incurred
     $35,551 of real estate tax expense related to 2001 and  2002
     taxes  due  on  the  property.  Due to  the  uncertainty  of
     collection, the Partnership expensed these taxes, which  are
     normally  the responsibility of the lessee.  The Partnership
     is  reviewing its available options, which include  allowing
     HRG  to remain in the property while they develop a work-out
     plan or replacing them with a new lessee.

     As  of  June  30,  2002,  based on  an  analysis  of  market
     conditions in the area, it was determined the fair value  of
     the  Denny's restaurant was approximately $700,000.  In  the
     second  quarter  of  2002, a charge to operations  for  real
     estate  impairment of $171,397 was recognized which  is  the
     difference  between  the book value  at  June  30,  2002  of
     $871,397  and  the  estimated fair value of  $700,000.   The
     charge  was recorded against the cost of the land,  building
     and equipment.

     On  November 21, 2001, the Partnership sold 9.9477%  of  the
     Tractor  Supply Company store to an unrelated  third  party.
     The  Partnership  received net sale  proceeds  of  $143,163,
     which  resulted in a net gain of $52,556.  At  the  time  of
     sale,  the cost and related accumulated depreciation of  the
     interest sold was $109,129 and $18,522, respectively.

     During  the  six months ended June 30, 2002, the Partnership
     distributed $65,206 of the net sale proceeds to the  Limited
     and  General  Partners  as part of their  regular  quarterly
     distributions which represented a return of capital of $8.89
     per  Limited  Partnership  Unit.   The  remaining  net  sale
     proceeds will either be reinvested in additional property or
     distributed to the Partners in the future.

           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                          JUNE 30, 2002
                           (Continued)

(4)  Payable to AEI Fund Management -

     AEI  Fund  Management, Inc. performs the administrative  and
     operating functions for the Partnership.  The payable to AEI
     Fund   Management  represents  the  balance  due  for  those
     services.    This  balance  is  non-interest   bearing   and
     unsecured  and  is  to  be  paid in  the  normal  course  of
     business.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS

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

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

    the  federal  income tax consequences of rental  income,
    deductions,  gain  on  sales and other  items  and  the
    affects of these consequences for the Partners;

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

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

    the effect of tenant defaults; and

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


Critical Accounting Policies


        The preparation of the Partnership's financial statements
requires  management to make estimates and assumptions  that  may
affect the reported amounts of assets, liabilities, revenues  and
expenses,  and  related  disclosure  of  contingent  assets   and
liabilities. Management evaluates these estimates on  an  ongoing
basis,  including  those related to the carrying  value  of  real
estate  and  the  allocation  by AEI  Fund  Management,  Inc.  of
expenses  to  the  Partnership as opposed  to  other  funds  they
manage.

ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (Continued)

        The Partnership purchases properties and records them  in
the  financial  statements  at the lower  of  cost  or  estimated
realizable   value.   The  Partnership  initially   records   the
properties  at cost (including capitalized acquisition expenses).
The Partnership is required to periodically evaluate the carrying
value  of properties to determine whether their realizable  value
has  declined.   For  properties the Partnership  will  hold  and
operate, management determines whether impairment has occurred by
comparing the property's probability-weighted cash flows  to  its
current carrying value.  For properties held for sale, management
determines  whether  impairment has  occurred  by  comparing  the
property's estimated fair value less cost to sell to its  current
carrying  value.   If  the carrying value  is  greater  than  the
realizable  value, an impairment loss is recorded to  reduce  the
carrying value of the property to its realizable value.  A change
in  these assumptions or analysis could cause material changes in
the carrying value of the properties.

       AEI Fund Management Inc. allocates expenses to each of the
funds  they manage primarily on the basis of the number of  hours
devoted  by  their employees to each fund's affairs.   They  also
allocate  some  expenses at the end of each month  that  are  not
directly related to a fund's operations based upon the number  of
investors  in the fund and the fund's capitalization relative  to
other  funds  they  manage.   The  Partnership  reimburses  these
expenses  subject  to  detailed  limitations  contained  in   the
Partnership Agreement.

Results of Operations

        For  the  six  months ended June 30, 2002 and  2001,  the
Partnership  recognized rental income of $264,477  and  $309,759,
respectively.   During the same periods, the  Partnership  earned
investment income of $2,002 and $31,823, respectively.  In  2002,
rental  income decreased mainly as a result of the loss  of  rent
from the Denny's restaurant.  This decrease in rental income  was
partially  offset by additional rent received from  one  property
acquisition  in  2001 and rent increases on two  properties.   In
2002,   investment  income  decreased  due  to  the   Partnership
receiving  less  interest income from construction  advances  and
lower money market interest rates in 2002.

        In  May, 2001, Huntington Restaurants Group, Inc.  (HRG),
the  lessee  of the Denny's Restaurant, notified the  Partnership
that  it  was experiencing financial problems and would not  make
the  lease  payments  while they worked out a  plan  which  would
enable  them  to  continue operations without seeking  bankruptcy
protection.   For the three months ended March 31, 2002  and  the
year  ended  December 31, 2001, HRG owed $31,649 and $72,912  for
past due rent, which has not been accrued.  In the second quarter
of  2002,  the  Partnership incurred $35,551 of real  estate  tax
expense related to 2001 and 2002 taxes due on the property.   Due
to  the uncertainty of collection, the Partnership expensed these
taxes, which are normally the responsibility of the lessee.   The
Partnership  is  reviewing its available options,  which  include
allowing HRG to remain in the property while they develop a work-
out plan or replacing them with a new lessee.

        As  of  June  30,  2002, based on an analysis  of  market
conditions in the area, it was determined the fair value  of  the
Denny's  restaurant was approximately $700,000.   In  the  second
quarter  of  2002,  a  charge  to  operations  for  real   estate
impairment  of  $171,397 was recognized which is  the  difference
between  the  book  value at June 30, 2002 of  $871,397  and  the
estimated  fair  value  of  $700,000.  The  charge  was  recorded
against the cost of the land, building and equipment.

ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (Continued)

        During  the six months ended June 30, 2002 and 2001,  the
Partnership   paid   Partnership   administration   expenses   to
affiliated  parties of $67,718 and $61,097, respectively.   These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and correspondence to the Limited Partners.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $52,539 and $12,683, respectively.   These  expenses
represent  direct payments to third parties for legal and  filing
fees,  direct administrative costs, outside audit and  accounting
costs,  taxes, insurance and other property costs.  The  increase
in  these expenses in 2002, when compared to 2001, is the  result
of  expenses  incurred in 2002 related to the  Denny's  situation
discussed above.

        As  of  June 30, 2002, the Partnership's annualized  cash
distribution  rate  was  5.7%,  based  on  the  Adjusted  Capital
Contribution.   Distributions of Net Cash  Flow  to  the  General
Partners were subordinated to the Limited Partners as required in
the  Partnership  Agreement.  As a result, 99%  of  distributions
were  allocated  to  Limited  Partners  and  1%  to  the  General
Partners.

        Inflation  has  had  a  minimal  effect  on  income  from
operations.   Leases  may contain rent increases,  based  on  the
increase  in  the  Consumer Price Index over a specified  period,
which  will result in an increase in rental income over the  term
of  the  leases.   In addition, leases may contain  rent  clauses
which  entitle  the  Partnership to receive  additional  rent  in
future  years  if gross receipts for the property exceed  certain
specified  amounts.  Increases in sales volumes of  the  tenants,
due to inflation and real sales growth, may result in an increase
in rental income over the term of the leases.  Inflation also may
cause the real estate to appreciate in value.  However, inflation
and  changing prices may have an adverse impact on the  operating
margins  of  the  properties' tenants, which could  impair  their
ability  to  pay rent and subsequently reduce the Net  Cash  Flow
available for distributions.

Liquidity and Capital Resources

         During   the  six  months  ended  June  30,  2002,   the
Partnership's cash balances decreased $54,972 as the  Partnership
distributed  more  cash to the Partners than  it  generated  from
operating  activities.  Net cash provided by operating activities
decreased from $302,896 in 2001 to $202,697 in 2002, as a  result
of   a   decrease  in  income  and  an  increase  in  Partnership
administration expenses in 2002 and net timing differences in the
collection  of  payments  from the lessees  and  the  payment  of
expenses.

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from  the sale of real estate.  During the six months ended  June
30,  2001,  the Partnership expended $136,394 to invest  in  real
properties (inclusive of acquisition expenses) as the Partnership
reinvested cash generated from property sales.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (Continued)


        On  May 8, 2000, the Partnership purchased a 22% interest
in  a parcel of land in Austin, Texas for $299,200.  The land  is
leased  to  Razzoo's, Inc. (RI) under a Lease  Agreement  with  a
primary  term of 15 years and annual rental payments of  $25,432.
Effective  October  4,  2000, the annual rent  was  increased  to
$29,172.   Simultaneously  with the purchase  of  the  land,  the
Partnership entered into a Development Financing Agreement  under
which  the  Partnership advanced funds to RI for the construction
of a Razzoo's restaurant on the site.  Initially, the Partnership
charged  interest on the advances at a rate of  8.5%.   Effective
October  4,  2000  and  April 15, 2001,  the  interest  rate  was
increased  to  9.75% and 15%, respectively.  On  June  27,  2001,
after  the  development was completed, the  Lease  Agreement  was
amended  to  require  annual rental  payments  of  $69,970.   The
Partnership's share of the total acquisition costs, including the
cost  of the land, was $714,689.  The remaining interests in  the
property  are  owned  by  AEI  Real  Estate  Fund  XVII   Limited
Partnership,  AEI  Net  Lease Income & Growth  Fund  XIX  Limited
Partnership,   and  AEI  Income  &  Growth  Fund   XXII   Limited
Partnership, affiliates of the Partnership.

        On November 21, 2001, the Partnership sold 9.9477% of the
Tractor  Supply Company store to an unrelated third  party.   The
Partnership  received  net  sale  proceeds  of  $143,163,   which
resulted in a net gain of $52,556.  At the time of sale, the cost
and  related  accumulated depreciation of the interest  sold  was
$109,129 and $18,522, respectively.

       During the six months ended June 30, 2002, the Partnership
distributed  $65,206 of the net sale proceeds to the Limited  and
General Partners as part of their regular quarterly distributions
which  represented  a  return of capital  of  $8.89  per  Limited
Partnership Unit.  The remaining net sale proceeds will either be
reinvested in additional property or distributed to the  Partners
in the future.

       The Partnership's primary use of cash flow is distribution
and  redemption  payments to Partners.  The Partnership  declares
its  regular  quarterly  distributions before  the  end  of  each
quarter and pays the distribution in the first week after the end
of  each quarter.  The Partnership attempts to maintain a  stable
distribution  rate from quarter to quarter.  Redemption  payments
are  paid  to  redeeming Partners in the fourth quarter  of  each
year.   Effective  April 1, 2002, the Partnership's  distribution
rate was decreased from 7.5% to 5.7%.  As a result, distributions
were lower in 2002, when compared to 2001.

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

        During  2001, three Limited Partners redeemed a total  of
24.55  Partnership  Units  for  $9,039  in  accordance  with  the
Partnership  Agreement.   The Partnership  acquired  these  Units
using Net Cash Flow from operations.  In prior years, a total  of
twenty-eight Limited Partners redeemed 214.45 Units for $136,712.
The   redemptions   increase  the  remaining  Limited   Partners'
ownership in the Partnership.

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


                   PART II - OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

       There  are no material pending legal proceedings to  which
  the  Partnership  is  a  party or of  which  the  Partnership's
  property is subject.

ITEM 2.CHANGES IN SECURITIES

      None.

ITEM 3.DEFAULTS UPON SENIOR SECURITIES

      None.

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

      None.

ITEM 5.OTHER INFORMATION

      None.

ITEM 6.EXHIBITS AND REPORTS ON FORM 8-K

       a. Exhibits -
                             Description

       99.1  Certification  of  Chief  Executive  Officer  of  General
             Partner pursuant to Section 906 of the Sarbanes-Oxley Act
             of 2002.

       99.2  Certification  of  Chief  Financial  Officer  of  General
             Partner pursuant to Section 906 of the Sarbanes-Oxley Act
             of 2002.

       b. Reports filed on Form 8-K -     None.


                           SIGNATURES

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


Dated:  August 6, 2002        AEI Real Estate Fund XV
                              Limited Partnership
                              By:  AEI Fund Management 86-A, Inc.
                              Its: Managing General Partner


                              By: /s/ Robert P. Johnson
                                      Robert P. Johnson
                                      President
                                      (Principal Executive Officer)



                              By: /s/ Mark E. Larson
                                      Mark E. Larson
                                      Chief Financial Officer
                                      (Principal Accounting Officer)