Exhibit
31.1





CERTIFICATION
OF PRINCIPAL EXECUTIVE OFFICER





I, Terry
G. Roussel, 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/ TERRY G. ROUSSELDate:
      May 9, 2008
            Terry
      G. Roussel
              Chief
      Executive Officer (Principal Executive Officer) of
              Cornerstone
      Ventures, Inc., the Managing Member of
              Cornerstone
      Industrial Properties, LLC, the Managing
              Member
      of Cornerstone Realty Fund, LLC