<TABLE> <S> <C>

<ARTICLE>                                                                      5
<LEGEND>
                            THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
                   EXTRACTED FROM THE BALANCE SHEET AS OF SEPTEMBER 30, 1997 AND
                               THE STATEMENT OF INCOME FOR THE NINE MONTHS ENDED
                SEPTEMBER 30, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
                                                   TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                                                                 0000797977
<NAME>                                PARTICIPATING INCOME PROPERTIES 1986, L.P.
<MULTIPLIER>                                                                   1
<CURRENCY>                                                          U.S. DOLLARS
       
<S>                                                                          <C>
<PERIOD-TYPE>                                                              9-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1997
<PERIOD-END>                                                         SEP-30-1997
<EXCHANGE-RATE>                                                                1
<CASH>                                                                 2,439,252
<SECURITIES>                                                                   0
<RECEIVABLES>                                                            178,718
<ALLOWANCES>                                                                   0
<INVENTORY>                                                                    0
<CURRENT-ASSETS>                                                               0
<PP&E>                                                                37,069,375
<DEPRECIATION>                                                        11,925,261
<TOTAL-ASSETS>                                                        27,870,631
<CURRENT-LIABILITIES>                                                          0
<BONDS>                                                                        0
<PREFERRED-MANDATORY>                                                          0
<PREFERRED>                                                                    0
<COMMON>                                                                       0
<OTHER-SE>                                                            26,291,689
<TOTAL-LIABILITY-AND-EQUITY>                                          27,870,631
<SALES>                                                                        0
<TOTAL-REVENUES>                                                       4,720,690
<CGS>                                                                          0
<TOTAL-COSTS>                                                          1,528,990
<OTHER-EXPENSES>                                                               0
<LOSS-PROVISION>                                                               0
<INTEREST-EXPENSE>                                                             0
<INCOME-PRETAX>                                                        3,188,015
<INCOME-TAX>                                                                   0
<INCOME-CONTINUING>                                                    3,188,015
<DISCONTINUED>                                                                 0
<EXTRAORDINARY>                                                                0
<CHANGES>                                                                      0
<NET-INCOME>                                                           3,188,015
<EPS-PRIMARY>                                                              61.06
<EPS-DILUTED>                                                                  0
        

</TABLE>