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:  March 31, 1997
                                
                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)
                                
                         (612) 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 March 31, 1997 and December 31, 1996    

          Statements for the Periods ended March 31, 1997 and 1996:

             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
                                
              MARCH 31, 1997 AND DECEMBER 31, 1996
                                
                           (Unaudited)
                                
                             ASSETS

                                                     1997            1996

CURRENT ASSETS:
  Cash and Cash Equivalents                      $ 1,251,929    $   884,120
  Receivables                                          1,924          9,945
  Note Receivable                                  1,003,000              0
                                                  -----------    -----------
      Total Current Assets                         2,256,853        894,065
                                                  -----------    -----------
INVESTMENTS IN REAL ESTATE:
  Land                                             1,569,352      1,757,210
  Buildings and Equipment                          3,330,499      4,106,357
  Accumulated Depreciation                        (1,030,143)    (1,312,489)
                                                  -----------    -----------
      Net Investments in Real Estate               3,869,708      4,551,078
                                                  -----------    -----------
          Total Assets                           $ 6,126,561    $ 5,445,143
                                                  ===========    ===========
                                
                                
                       LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.           $    79,173    $    26,679
  Distributions Payable                              120,350        120,350
  Deferred Income                                     27,384         15,480
                                                  -----------    -----------
      Total Current Liabilities                      226,907        162,509
                                                  -----------    -----------

DEFERRED INCOME - Net Of Current Portion             152,226        156,097

PARTNERS' CAPITAL (DEFICIT):
  General Partners                                    (5,987)       (12,195)
  Limited Partners, $1,000 Unit value;
   7,500 Units authorized and issued;
   7,354 Units outstanding                         5,753,415      5,138,732
                                                  -----------    -----------
    Total Partners' Capital                        5,747,428      5,126,537
                                                  -----------    -----------
      Total Liabilities and Partners' Capital    $ 6,126,561    $ 5,445,143
                                                  ===========    ===========
                                
 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 MARCH 31
                                
                           (Unaudited)
                                
                                                     1997            1996

INCOME:
   Rent                                          $   135,621     $   185,574
   Investment Income                                  32,808           6,761
                                                  -----------     -----------
        Total Income                                 168,429         192,335
                                                  -----------     -----------

EXPENSES:
   Partnership Administration - Affiliates            24,538          29,498
   Partnership Administration and Property
      Management - Unrelated Parties                   8,501           5,496
   Depreciation                                       35,669          44,095
                                                  -----------     -----------
        Total Expenses                                68,708          79,089
                                                  -----------     -----------

OPERATING INCOME                                      99,721         113,246

GAIN ON SALE OF REAL ESTATE                          655,641         200,416
                                                  -----------     -----------

NET INCOME                                       $   755,362     $   313,662
                                                  ===========     ===========

NET INCOME ALLOCATED:
   General Partners                              $     7,553     $     3,137
   Limited Partners                                  747,809         310,525
                                                  -----------     -----------
                                                 $   755,362     $   313,662
                                                  ===========     ===========

NET INCOME PER LIMITED PARTNERSHIP UNIT
 (7,354 and 7,364 weighted average Units
  outstanding in 1997 and 1996, respectively)    $    101.69     $     42.17
                                                  ===========     ===========

 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 MARCH 31
                                
                           (Unaudited)
                                
                                                      1997            1996
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income                                     $   755,362    $   313,662

   Adjustments to Reconcile Net Income
   To Net Cash Provided by Operating Activities:
     Depreciation                                      35,669         44,095
     Gain on Sale of Real Estate                     (655,641)      (200,416)
     Decrease in Receivables                            8,021         31,050
     Increase in Payable to
         AEI Fund Management, Inc.                     52,494          3,898
     Increase in Deferred Income                        8,033         19,086
                                                   -----------    ----------- 
        Total Adjustments                            (551,424)      (102,287)
                                                   -----------    -----------
        Net Cash Provided By
        Operating Activities                          203,938        211,375
                                                   -----------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
   Investments in Real Estate                               0       (359,459)
   Proceeds from Sale of Real Estate                  298,342        647,157
                                                   -----------    -----------
        Net Cash Provided By
        Investing Activities                          298,342        287,698
                                                   -----------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
   Increase in Distributions Payable                        0          5,274
   Distributions to Partners                         (134,471)      (127,842)
                                                   -----------    -----------
        Net Cash Used For
        Financing Activities                         (134,471)      (122,568)
                                                   -----------    -----------

NET INCREASE IN CASH AND CASH EQUIVALENTS             367,809        376,505

CASH AND CASH EQUIVALENTS, beginning of period        884,120        609,623
                                                   -----------    -----------

CASH AND CASH EQUIVALENTS, end of period          $ 1,251,929    $   986,128
                                                   ===========    ===========

SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING ACTIVITIES:
  Note Receivable Acquired in Sale of Property    $ 1,003,000    $         0
                                                   ===========    ===========
                                
 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 MARCH 31
                                
                           (Unaudited)
                                
                                
                                                                      Limited
                                                                   Partnership
                              General      Limited                     Units
                              Partners     Partners     Total      Outstanding


BALANCE, December 31, 1995  $  (12,182)  $ 5,140,104  $ 5,127,922     7,363.55

  Distributions                 (1,279)     (126,563)    (127,842)

  Net Income                     3,137       310,525      313,662
                             ----------   -----------  -----------  -----------
BALANCE, March 31, 1996     $  (10,324)  $ 5,324,066  $ 5,313,742     7,363.55
                             ==========   ===========  ===========  ===========


BALANCE, December 31, 1996  $  (12,195)  $ 5,138,732  $ 5,126,537     7,353.55

  Distributions                 (1,345)     (133,126)    (134,471)

  Net Income                     7,553       747,809      755,362
                             ----------   -----------  -----------  -----------
BALANCE, March 31, 1997     $   (5,987)  $ 5,753,415  $ 5,747,428     7,353.55
                             ==========   ===========  ===========  ===========



 The accompanying Notes to Financial Statements are an integral
                     part of this statement.

</PAGE>
                                
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                                
                         MARCH 31, 1997
                                
                           (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 of the Partnership.  Robert P. Johnson,  the
     President  and  sole  shareholder  of  AFM,  serves  as  the
     Individual General Partner of the Partnership.  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.   The  Partnership   offering
     terminated   on   December  30,  1986   when   the   maximum
     subscription  limit  of  7,500  Limited  Partnership   Units
     ($7,500,000) was reached.
     
     Under  the  terms of the Limited Partnership Agreement,  the
     Limited  Partners and General Partners contributed funds  of
     $7,500,000  and $1,000, respectively.  During the  operation
     of the Partnership, 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
                           (Continued)
                                
(2)  Organization - (Continued)

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of the Partnership's 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  the  Partnership's
     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  Partnership
     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 the Partnership's 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
                           (Continued)
                                
(3)  Investments in Real Estate -

     On  January  10, 1996, the Partnership purchased  a  Denny's
     restaurant   in  Greenville,  Texas  for  $1,028,432.    The
     property  is  leased to Huntington Restaurants  Group,  Inc.
     under a Lease Agreement with a primary term of 20 years  and
     annual rental payments of $113,625.
     
     On  February  14,  1996,  the Partnership  purchased  a  20%
     interest in a Tractor Supply Company in Maryville, Tennessee
     for  $219,405.   The  property is leased to  Tractor  Supply
     Company  under a Lease Agreement with a primary term  of  14
     years  and annual rental payments of $22,575.  The remaining
     interest  in  the property was purchased by AEI Real  Estate
     Fund   85-A  Limited  Partnership,  an  affiliate   of   the
     Partnership.
     
     In  July  1995,  the  lessee of the Super  8  motel  in  Hot
     Springs,   Arkansas,  exercised  an  option  in  the   Lease
     Agreement to purchase the property.  On March 29, 1996,  the
     sale closed with the Partnership receiving net sale proceeds
     of  $665,691  which resulted in a net gain of $218,950.   In
     the  second  quarter  of  1996, $2,305  of  additional  sale
     expenses were recognized which resulted in a total  gain  of
     $216,645.   The Partnership recognized $18,534 of this  gain
     in  1995  due  to nonrefundable deposits received  from  the
     purchaser.   At  the  time of sale,  the  cost  and  related
     accumulated  depreciation of the property was  $581,541  and
     $134,800, respectively.
     
     In  September, 1996, the Partnership distributed $127,273 of
     the  net  proceeds  as  an additional  distribution  to  the
     Limited and General Partners, which represented a return  of
     capital   of   $17.11   per   Limited   Partnership    Unit,
     respectively.   The majority of the remaining proceeds  will
     be reinvested in an additional property.
     
     On  January  24,  1997, the Partnership sold the  Children's
     World  daycare  center in Moreno Valley, California,  to  an
     unrelated third party.  The Partnership recognized net  sale
     proceeds  of  $1,301,342, which resulted in a  net  gain  of
     $655,641.   At  the  time  of sale,  the  cost  and  related
     accumulated  depreciation of the property was  $963,717  and
     $318,016,  respectively.  As part of the sale proceeds,  the
     Partnership received a Promissory Note for $1,003,000.   The
     Note  bears interest at a 10% rate.  On April 23, 1997,  the
     Partnership  received the principal balance and  outstanding
     accrued  interest on the Note.  Investment income earned  on
     the Note through March 31, 1997 was $18,411.
     
(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.

                                
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(5)  Deferred Income -

     In  June,  1994, Fuddruckers, Inc., the restaurant concept's
     franchisor,  acquired  the  operations  of  the  Fuddruckers
     restaurant  in  St. Louis, Missouri, and assumed  the  lease
     obligations  from  the  original lessee.   As  part  of  the
     agreement,  the Partnership amended the Lease to reduce  the
     base  rent  from  the  current annual rent  of  $163,550  to
     $138,246.  The Partnership could receive additional rent  in
     the future if 10% of gross receipts from the property exceed
     the  base  rent.  In consideration for the lease  assumption
     and  amendment, the Partnership received a lump sum  payment
     from  the original lessee of $210,277.  The lump sum payment
     will be recognized as income over the remainder of the Lease
     term,  which  expires January 31, 2008, using  the  straight
     line  method.  As of March 31, 1997 and December  31,  1996,
     the   Partnership  has  recognized  $42,570   and   $38,700,
     respectively, of this payment as income.  At March 31, 1997,
     the  remaining deferred income of $11,904 was  prepaid  rent
     related to certain other Partnership properties.


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS

Results of Operations

        For  the three months ended March 31, 1997 and 1996,  the
Partnership  recognized rental income of $135,621  and  $185,574,
respectively.   During the same periods, the  Partnership  earned
investment income of $32,808 and $6,761, respectively.  In  1997,
rental  income decreased as a result of the sale of the  Super  8
motel   and   the  Children's  World  daycare  center  properties
discussed  below.   The decrease in rental income  was  partially
offset by additional investment income earned on the net proceeds
from the property sales.

        During  the  first  three months of 1997  and  1996,  the
Partnership   paid   Partnership   administration   expenses   to
affiliated  parties of $24,538 and $29,498, 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  $8,501  and  $5,496, 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.

        As  of March 31, 1997, the Partnership's annualized  cash
distribution  rate  was  7.5%,  based  on  the  Adjusted  Capital
Contribution.   Distributions of Net Cash  Flow  to  the  General
Partners were subordinated to the Limited Partners as required in
the Partnership Agreement.  As a result, 99% of distributions and
income  were allocated to Limited Partners and 1% to the  General
Partners.

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


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

Liquidity and Capital Resources

        During  the  three  months  ended  March  31,  1997,  the
Partnership's cash balances increased $367,809 mainly as a result
of  the  sale  of the Children's World property discussed  below.
Net cash provided by operating activities decreased from $211,375
in 1996 to $203,938 in 1997.

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from  the  sale of real estate.  In the three months ended  March
31,  1997 and 1996, the Partnership generated cash flow from  the
sale  of  real  estate,  as  discussed  below,  of  $298,342  and
$647,157, respectively.  During the same periods, the Partnership
expended  $0  and  $359,459,  respectively,  to  invest  in  real
properties (inclusive of acquisition expenses) as the Partnership
reinvested the cash generated from the property sales.

        On  January 10, 1996, the Partnership purchased a Denny's
restaurant in Greenville, Texas for $1,028,432.  The property  is
leased  to  Huntington  Restaurants Group,  Inc.  under  a  Lease
Agreement  with  a  primary term of 20 years  and  annual  rental
payments of $113,625.

        On  February  14, 1996, the Partnership purchased  a  20%
interest in a Tractor Supply Company in Maryville, Tennessee  for
$219,405.  The property is leased to Tractor Supply Company under
a  Lease  Agreement with a primary term of 14  years  and  annual
rental  payments  of  $22,575.  The  remaining  interest  in  the
property  was  purchased  by AEI Real Estate  Fund  85-A  Limited
Partnership, an affiliate of the Partnership.

        In  July  1995, the lessee of the Super 8  motel  in  Hot
Springs, Arkansas, exercised an option in the Lease Agreement  to
purchase  the property.  On March 29, 1996, the sale closed  with
the  Partnership  receiving net sale proceeds of  $665,691  which
resulted  in  a net gain of $218,950.  In the second  quarter  of
1996,  $2,305  of additional sale expenses were recognized  which
resulted in a total gain of $216,645.  The Partnership recognized
$18,534  of  this  gain  in  1995 due to  nonrefundable  deposits
received  from the purchaser.  At the time of sale, the cost  and
related accumulated depreciation of the property was $581,541 and
$134,800, respectively.

        In  September, 1996, the Partnership distributed $127,273
of  the net proceeds as an additional distribution to the Limited
and  General Partners, which represented a return of  capital  of
$17.11  per Limited Partnership Unit, respectively.  The majority
of  the  remaining proceeds will be reinvested in  an  additional
property.

        On  January 24, 1997, the Partnership sold the Children's
World  daycare  center  in  Moreno  Valley,  California,  to   an
unrelated  third  party.   The Partnership  recognized  net  sale
proceeds of $1,301,342, which resulted in a net gain of $655,641.
At   the   time   of  sale,  the  cost  and  related  accumulated
depreciation   of  the  property  was  $963,717   and   $318,016,
respectively.   As  part  of the sale proceeds,  the  Partnership
received  a  Promissory  Note  for $1,003,000.   The  Note  bears
interest  at  a  10%  rate.  On April 23, 1997,  the  Partnership
received  the principal balance and outstanding accrued  interest
on  the Note.  Investment income earned on the Note through March
31, 1997 was $18,411.


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

       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 October 1, 1996, the Partnership's distribution
rate was increased from 7.0% to 7.5%.  As a result, distributions
paid  during  the  first three months of 1997  were  higher  when
compared to the same period in 1996.

        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 1996, one Limited Partner redeemed a total  of  10
Partnership  Units for $5,703 in accordance with the  Partnership
Agreement.  The Partnership acquired these Units using  Net  Cash
Flow  from  operations.   In prior years,  a  total  of  eighteen
Limited  partners redeemed 136.5 Partnership Units for  $101,139.
The   redemptions   increase  the  remaining  Limited   Partners'
ownership in the Partnership.

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


                   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.

                   PART II - OTHER INFORMATION
                           (Continued)
                                
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

        a. Exhibits -
                        Description

           27 Financial Data Schedule  for  period
              ended March 31, 1997.

        b.    Reports filed on Form  8-K  -
              During the quarter ended March  31,
              1997, the Partnership filed an 8-K,
              dated  February 3, 1997,  reporting
              the  disposition of the  Children's
              World   daycare  center  in  Moreno
              Valley, California.


                           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:  May 9, 1997           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)