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:  September 30, 1998
                                
                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 September 30, 1998 and December 31, 1997 

         Statements for the Periods ended September 30, 1998 and 1997:

            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
                                
            SEPTEMBER 30, 1998 AND DECEMBER 31, 1997
                                
                           (Unaudited)
                                
                             ASSETS

                                                      1998            1997

CURRENT ASSETS:
  Cash and Cash Equivalents                       $   125,074    $   939,969
  Receivables                                               0         15,446
                                                   -----------    -----------
      Total Current Assets                            125,074        955,415
                                                   -----------    -----------
INVESTMENTS IN REAL ESTATE:
  Land                                              2,073,048      2,036,860
  Buildings and Equipment                           4,587,402      3,686,945
  Construction in Progress                                  0         46,997
  Property Acquisition Costs                                0         67,523
  Accumulated Depreciation                         (1,210,571)    (1,120,795)
                                                   -----------    -----------
      Net Investments in Real Estate                5,449,879      4,717,530
                                                   -----------    -----------
          Total Assets                            $ 5,574,953    $ 5,672,945
                                                   ===========    ===========
                                
                                
                      LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.            $    25,134    $    32,430
  Distributions Payable                               116,905        116,671
  Deferred Income                                      39,309         15,480
                                                   -----------    -----------
      Total Current Liabilities                       181,348        164,581
                                                   -----------    -----------

DEFERRED INCOME - Net Of Current Portion              129,007        140,617

PARTNERS' CAPITAL (DEFICIT):
  General Partners                                    (10,815)        (9,783)
  Limited Partners, $1,000 Unit value;
   7,500 Units authorized and issued;
   7,337 Units outstanding                          5,275,413      5,377,530
                                                   -----------    -----------
     Total Partners' Capital                        5,264,598      5,367,747
                                                   -----------    -----------
        Total Liabilities and Partners' Capital   $ 5,574,953    $ 5,672,945
                                                   ===========    ===========

 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 SEPTEMBER 30
                                
                           (Unaudited)
                                

                                  Three Months Ended        Nine Months Ended
                                 9/30/98      9/30/97      9/30/98     9/30/97

INCOME:
 Rent                           $ 153,460   $ 127,757    $ 440,158   $ 391,136
 Investment Income                 15,113      26,530       42,495      91,491
                                 ---------   ---------    ---------   ---------
        Total Income              168,573     154,287      482,653     482,627
                                 ---------   ---------    ---------   ---------

EXPENSES:
 Partnership Administration - 
  Affiliates                       24,917      25,530       78,787      79,055
 Partnership Administration 
  and Property Management - 
  Unrelated Parties                 6,012       2,392       26,328      16,130
 Depreciation                      31,010      29,476       89,776      95,778
                                 ---------   ---------    ---------   ---------
        Total Expenses             61,939      57,398      194,891     190,963
                                 ---------   ---------    ---------   ---------

OPERATING INCOME                  106,634      96,889      287,762     291,664

GAIN ON SALE OF REAL ESTATE             0           0            0     655,641
                                 ---------   ---------    ---------   ---------
NET INCOME                      $ 106,634   $  96,889    $ 287,762   $ 947,305
                                 =========   =========    =========   =========

NET INCOME ALLOCATED:
 General Partners               $   1,066   $     969    $   2,877   $   9,473
 Limited Partners                 105,568      95,920      284,885     937,832
                                 ---------   ---------    ---------   ---------
                                $ 106,634   $  96,889    $ 287,762   $ 947,305
                                 =========   =========    =========   =========

NET INCOME PER
 LIMITED PARTNERSHIP UNIT
 (7,337 and 7,354 weighted average
  Units outstanding in 1998 and 1997,
  respectively)                 $   14.39   $  13.05     $   38.83   $  127.53
                                 =========   =========    =========   =========



 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 SEPTEMBER 30
                                
                           (Unaudited)
                                
                                                         1998          1997
CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income                                       $   287,762    $   947,305

   Adjustments to Reconcile Net Income to Net Cash
   Provided by Operating Activities:
     Depreciation                                        89,776         95,778
     Gain on Sale of Real Estate                              0       (655,641)
     Decrease in Receivables                             15,446          9,945
     Decrease in Payable to
        AEI Fund Management, Inc.                        (7,296)       (22,061)
     Increase in Deferred Income                         12,219          9,945
                                                     -----------    -----------
        Total Adjustments                               110,145       (562,034)
                                                     -----------    -----------
        Net Cash Provided By
        Operating Activities                            397,907        385,271
                                                     -----------    -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
   Investments in Real Estate                          (822,125)             0
   Proceeds from Sale of Real Estate                          0        298,342
   Payments Received on Note Receivable                       0      1,003,000
                                                     -----------    -----------
        Net Cash Provided By (Used For)
        Investing Activities                           (822,125)     1,301,342
                                                     -----------    -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
   Increase (Decrease) in Distributions Payable             234         (3,729)
   Distributions to Partners                           (390,911)      (601,254)
                                                     -----------    -----------
        Net Cash Used For
        Financing Activities                           (390,677)      (604,983)
                                                     -----------    -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                                (814,895)     1,081,630

CASH AND CASH EQUIVALENTS, beginning of period          939,969        884,120
                                                     -----------    -----------
CASH AND CASH EQUIVALENTS, end of period            $   125,074    $ 1,965,750
                                                     ===========    ===========

SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING ACTIVITIES:
  Note Receivable Acquired in Sale of Property      $         0    $ 1,003,000
                                                     ===========    ===========

 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 SEPTEMBER 30
                                
                           (Unaudited)
                                
                                
                                                                    Limited
                                                                  Partnership
                               General     Limited                   Units
                               Partners    Partners     Total     Outstanding


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

  Distributions                 (6,013)     (595,241)    (601,254)

  Net Income                     9,473       937,832      947,305
                              ---------   -----------  -----------  ----------
BALANCE, September 30, 1997  $  (8,735)  $ 5,481,323  $ 5,472,588    7,353.55
                              =========   ===========  ===========  ==========


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

  Distributions                 (3,909)    (387,002)     (390,911)

  Net Income                     2,877      284,885       287,762
                              ---------  -----------   -----------  ----------
BALANCE, September 30, 1998  $ (10,815) $ 5,275,413   $ 5,264,598    7,336.55
                              =========  ===========   ===========  ==========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                                
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                                
                       SEPTEMBER 30, 1998
                                
                           (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.  On  December  30,  1986,  the
     Partnership's   offering   terminated   when   the   maximum
     subscription  limit  of  7,500  Limited  Partnership   Units
     ($7,500,000) was reached.
     
     Under  the  terms of the Limited Partnership Agreement,  the
     Limited  Partners and General Partners contributed funds  of
     $7,500,000  and $1,000, respectively.  During 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  24,  1997, the Partnership sold the  Children's
     World  daycare  center in Moreno Valley, California,  to  an
     unrelated third party.  The Partnership recognized net  sale
     proceeds  of  $1,301,342, which resulted in a  net  gain  of
     $655,641.   At  the  time  of sale,  the  cost  and  related
     accumulated  depreciation of the property was  $963,717  and
     $318,016,  respectively.  As part of the sale proceeds,  the
     Partnership received a Promissory Note for $1,003,000.   The
     Note  bears interest at a 10% rate.  On April 23, 1997,  the
     Partnership  received the principal balance and  outstanding
     accrued  interest on the Note.  Investment income earned  on
     the Note was $24,456.
     
     In  June, 1997, the Partnership distributed $202,020 of  the
     net  sale proceeds to the Limited and General Partners which
     represented  a  return  of capital  of  $27.20  per  Limited
     Partnership  Unit.   The majority of the remaining  proceeds
     will be reinvested in additional property.
     
     On  November 18, 1997, the Partnership purchased  a  30.794%
     interest  in  a  Timber  Lodge  Steakhouse  in  St.   Cloud,
     Minnesota  for $510,635.  The property is leased  to  Timber
     Lodge  Steakhouse,  Inc.  under a  Lease  Agreement  with  a
     primary  term  of  20  years and annual rental  payments  of
     $51,537.  The remaining interests in the property are  owned
     by  AEI  Real Estate Fund XVII Limited Partnership  and  AEI
     Institutional  Net  Lease  Fund  '93  Limited   Partnership,
     affiliates of the Partnership.
     
     On  December  23, 1997, the Partnership purchased  a  26.05%
     interest in a parcel of land in Troy, Michigan for $393,620.
     The  land is leased to Champps Entertainment, Inc. (Champps)
     under a Lease Agreement with a primary term of 20 years  and
     annual rental payments of $27,553.  Effective June 20, 1998,
     the  annual  rent was increased to $41,330.   Simultaneously
     with  the purchase of the land, the Partnership entered into
     a   Development   Financing  Agreement   under   which   the
     Partnership  advanced funds to Champps for the  construction
     of  a  Champps Americana restaurant on the site.  Initially,
     the  Partnership charged interest on the advances at a  rate
     of  7.0%.   Effective June 20, 1998, the interest  rate  was
     increased  to  10.50%.   On September  3,  1998,  after  the
     development  was completed, the Lease Agreement was  amended
     to   require  annual  rental  payments  of  $133,356.    The
     Partnership's   share  of  the  total   acquisition   costs,
     including  the  cost  of  the  land,  was  $1,330,265.   The
     remaining  interests in the property are owned by  AEI  Real
     Estate  Fund XVII Limited Partnership, AEI Real Estate  Fund
     XVIII  Limited Partnership and AEI Net Lease Income & Growth
     Fund XIX Limited Partnership, affiliates of the Partnership.
     
                                
           AEI REAL ESTATE FUND XV LIMITED PARTNERSHIP
                                
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)
                                
(3)  Investments in Real Estate - (Continued)

     The Partnership owns a 44.9042% interest in a restaurant  in
     Waco, Texas, which was previously closed.  In June 1995, the
     Partnership  re-leased the restaurant to Tex-Mex  Cocina  of
     Waco,  L.C.   The  Lease Agreement had  a  primary  term  of
     eighteen  months with an annual rental payment  of  $24,248.
     The  Partnership could also receive additional rent if gross
     receipts   from  the  property  exceeded  certain  specified
     amounts.   In  December,  1997, the lessee  elected  not  to
     exercise  the  renewal option in the lease.  The  restaurant
     was  closed  and  is listed for sale or  lease.   While  the
     property is vacant, the Partnership is responsible  for  the
     real  estate taxes and other costs required to maintain  the
     property.
     
     As  of  December  31, 1997, based on an analysis  of  market
     conditions in the area, it was determined the fair value  of
     the   Partnership's  interest  in  the  Waco  property   was
     approximately $314,400.  In the fourth quarter  of  1997,  a
     charge  to operations for real estate impairment of  $80,300
     was  recognized,  which is the difference between  the  book
     value  at  December 31, 1997 of $394,700 and  the  estimated
     fair value of $314,400.  The charge was recorded against the
     cost of the land and building.
     
 (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.

(5)  Deferred Income -

     In  June,  1994, Fuddruckers, Inc., the restaurant concept's
     franchisor,  acquired  the  operations  of  the  Fuddruckers
     restaurant  in  St. Louis, Missouri, and assumed  the  lease
     obligations  from  the  original lessee.   As  part  of  the
     agreement,  the Partnership amended the Lease to reduce  the
     annual base rent from $163,550 to $138,246.  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  September  30,  1998  and  December 31, 1997,  the
     Partnership    has   recognized   $65,790    and    $54,180,
     respectively,  of this payment as income.  At September  30,
     1998,  the remaining deferred income of $23,829 was  prepaid
     rent related to certain other Partnership properties.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS

Results of Operations

       For the nine months ended September 30, 1998 and 1997, the
Partnership  recognized rental income of $440,158  and  $391,136,
respectively.   During the same periods, the  Partnership  earned
investment income of $42,495 and $91,491, respectively.  In 1998,
rental  income increased as a result of the reinvestment  of  net
sale  proceeds  in  additional properties discussed  below.   The
increase  in rental income was partially offset by a decrease  in
rental income from the property in Waco, Texas and a decrease  in
investment  income  earned  on the  net  proceeds  prior  to  the
purchase of the additional properties.

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

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

        During the nine months ended September 30, 1998 and 1997,
the  Partnership  paid  Partnership  administration  expenses  to
affiliated  parties of $78,787 and $79,055, 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  $26,328 and $16,130, 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  expenses  in 1998, when compared to 1997, is  mainly  due  to
expenses incurred in 1998 related to the Waco property.

        As  of  September 30, 1998, 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)

        AEI  Fund  Management, Inc. (AEI) performs all management
services  for  the Partnership.  AEI is currently  analyzing  its
computer hardware and software systems to determine what, if any,
resources  need to be dedicated regarding Year 2000 issues.   The
Partnership  does  not  anticipate  any  significant  operational
impact  or  incurring material costs as a result of AEI  becoming
Year 2000 compliant.

Liquidity and Capital Resources

        During  the  nine months ended September  30,  1998,  the
Partnership's cash balances decreased $814,895 mainly as a result
of  the  reinvestment  of  net sale  proceeds  in  an  additional
property.   Net  cash provided by operating activities  increased
from  $385,271 in 1997 to $397,907 in 1998 mainly as a result  of
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 nine  months  ended
SeptemberE30, 1997, the Partnership generated cash flow from  the
sale  of real estate of $1,301,342.  During the nine months ended
September  30, 1998, the Partnership expended $822,125 to  invest
in  real  properties (inclusive of acquisition expenses)  as  the
Partnership  reinvested  the  cash generated  from  the  property
sales.

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

       In June, 1997, the Partnership distributed $202,020 of the
net  sale  proceeds  to  the Limited and General  Partners  which
represented a return of capital of $27.20 per Limited Partnership
Unit.   The majority of the remaining proceeds will be reinvested
in additional property.

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


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

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

       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.   In  June,  1997,  the Partnership  distributed  net  sale
proceeds  of  $202,020 to the Partners as part of  their  regular
quarterly  distribution.  As a result, distributions  during  the
first nine months of 1997 were higher than in 1998.

        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 1998, the Partnership did not redeem any Units from
the  Limited  Partners.  In prior years, a  total  of  twenty-one
Limited   Partners  redeemed  163.5  Units  for  $115,460.    The
redemptions increase the remaining Limited Partners' ownership in
the Partnership.

       The continuing rent payments from the properties 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.

                   PART II - OTHER INFORMATION
                           (Continued)
                                
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

       27    Financial Data Schedule  for  period
             ended September 30, 1998.

       b.    Reports filed on Form  8-K  -
             During  the quarter ended September
             30, 1998, the Partnership filed  an
             8-K,   dated  September  15,  1998,
             reporting  the  acquisition  of   a
             Champps  Americana  restaurant   in
             Troy, Michigan.


                           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:  November 9, 1998      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)