Exhibit
31.2





CERTIFICATION
OF PRINCIPAL FINANCIAL OFFICER





I, Sharon
C. Kaiser, certify that:





1.          
  I have reviewed this quarterly report on Form 10-Q of Cornerstone
Realty Fund, LLC;





2.            
Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make
the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this quarterly
report; and





3.            
Based on my knowledge, the financial statements, and other financial information
included in this quarterly report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as
of, and for, the periods presented in this quarterly report.





4.            
The registrant’s other certifying officer and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as
defined in Exchange Act Rule 13a-15(f) and 15d-15(f)) for the registrant and we
have:





(a)           
designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this quarterly report is being prepared;





(b)           
designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principals;





(c)           
evaluated the effectiveness of the registrant’s disclosure controls and
procedures and presented in this reported our conclusions about the
effectiveness of the disclosure controls and procedures, as of the period
covered by this quarterly report based on such evaluation; and





(d)           
disclosed in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent fiscal
quarter that has materially affected, or is reasonably likely to materially
affect, the registrant’s internal control over financial reporting.





5.           The
registrant’s other certifying officer and I have disclosed, based on our most
recent evaluation of internal control over financial reporting, to the
registrant’s auditors and the audit committee of registrant’s board of directors
(or persons performing the equivalent function):





(a)           
all significant deficiencies and material weaknesses in the design or operation
of internal controls over financial reporting which are reasonably likely to
adversely affect the registrant’s ability to record, process, summarize and
report financial information; and





(b)           
any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant’s internal control over financial
reporting.





/s/ SHARON C.
      KAISERDate:
      May 9, 2008
            Sharon
      C. Kaiser
              Chief
      Financial Officer (Principal Financial Officer) of
              Cornerstone
      Ventures, Inc., the Managing Member of
              Cornerstone
      Industrial Properties, LLC, the Managing
              Member
      of Cornerstone Realty Fund, LLC