SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                  F O R M 10-Q
                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarter Ended October 31, 2000                    Commission File No. 0-8862

                         ------------------------------

                           First Hartford Corporation
                           --------------------------
                          (Exact name of registrant as
                            specified in its charter)

         Maine                                              01-0185800
------------------------                               -------------------
(State of Incorporation)                                (I.R.S. Employer
                                                       Identification No.)

149 Colonial Road, Manchester, Connecticut                    06040
------------------------------------------                  ----------
(Address of principal executive offices)                    (Zip Code)

                                 (860) 646-6555
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

                         ------------------------------

      Indicate by check mark whether the Registrant (1) has 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, and (2) has been subject to such filing
requirements for the past 90 days.

                                 YES |_| NO |X|

      As of November 8, 1997, 3,089,985 shares of common stock of the Registrant
were outstanding.

<PAGE>

                           FIRST HARTFORD CORPORATION

                                      INDEX

     PART I. FINANCIAL INFORMATION                                          PAGE
                                                                            ----

Item 1.  Financial Statements

            Independent Auditor's Review Letter                              1

            Consolidated Balance Sheets -
              October 31, 2000 and April 30, 2000                          2 & 3

            Consolidated Statements of Operations
              Six Months Ended October 31, 2000 and 1999
              Three Months Ended October 31, 2000 and 1999                   4

            Consolidated Statements of Cash Flows
              Six Months Ended October 31, 2000 and 1999
              Three Months Ended October 31, 2000 and 1999                 5 & 6

            Notes to Consolidated Financial Statements                       7

Item 2.  Management's Discussion and Analysis
                of Financial Condition and Results of Operations           8 & 9

     PART II. OTHER INFORMATION

            Signatures                                                       10

<PAGE>

                 [LETTERHEAD OF KOSTIN RUFFKESS & COMPANY, LLC]

To the Board of Directors
First Hartford Corporation and Subsidiaries

                        INDEPENDENT ACCOUNTANTS' REPORT

We have reviewed the accompanying consolidated balance sheet of First Hartford
Corporation and Subsidiaries as of October 31, 2000, and the related
consolidated statements of operations, and cash flows for the three months and
six months then ended. These consolidated financial statements are the
responsibility of the Company's management.

We conducted our review in accordance with Statements on Standards for
Accounting and Review Services issued by the American Institute of Certified
Public Accountants. A review of interim financial information consists
principally of applying analytical procedures to financial data and making
inquiries of persons responsible for financial and accounting matters. It is
substantially less in scope than an audit conducted in accordance with generally
accepted auditing standards, the objective of which is the expression of an
opinion regarding the consolidated financial statements taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the accompanying consolidated financial statements in order for them
to be in conformity with generally accepted accounting principles.


/s/ Kostin Ruffkess & Company, LLC

West Hartford, Connecticut
December 12, 2000

<PAGE>

PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements:

                   FIRST HARTFORD CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

            Assets                                     Oct. 31,      April 30,
                                                         2000          2000
                                                     -----------    -----------

Real Estate and equipment:

 Developed properties                                $20,377,865    $20,374,092

 Equipment and leasehold improvements                    123,374        121,967
                                                     -----------    -----------
                                                      20,501,239     20,496,059

 Less accumulated depreciation and
  amortization                                         1,533,740      1,303,929
                                                     -----------    -----------
                                                      18,967,499     19,192,130
 Properties under construction and
  investment in undeveloped properties                   136,374             -0-
                                                     -----------    -----------
                                                      19,103,873     19,192,130

Cash                                                       1,773        146,405

Accounts receivable, less
 allowance for doubtful accounts                         182,391        165,189

Deposits, escrows, and prepaid and
 deferred expenses                                     1,419,516      1,111,735

Due from related parties and affiliates, and
 investment in affiliated partnership                  3,374,494      2,807,533

Deferred Tax Assets                                    1,700,000      1,700,000
                                                     -----------    -----------

                                                     $25,782,047    $25,122,992
                                                     ===========    ===========


                                       2
<PAGE>

                         PART I - FINANCIAL INFORMATION
                   FIRST HARTFORD CORPORATION AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                                   Oct. 31,          April 30,
                                                     2000               2000
                                                 ------------      ------------

Liabilities:

 Mortgages and notes payable

  Construction loan payable                      $    419,545      $         -0-

  Mortgages payable                                21,655,147        20,228,142

  Notes Payable:
    Other                                           5,291,158         5,501,159
                                                 ------------      ------------
                                                   27,365,850        25,729,301

 Accounts payable                                   1,710,389         2,277,685
 Accrued Liabilities                                  801,626           741,742
 Due to Related Parties and affiliated
 partnerships                                       1,828,091         1,808,581
                                                 ------------      ------------
                                                   31,705,956        30,557,309

Shareholders' equity (deficiency):

 Common stock, $1 par; authorized
   6,000,000 shares; issued 3,322,213
   shares                                           3,322,213         3,322,213
 Capital in excess of par                           4,857,645         4,857,645
 Deficit                                          (12,035,643)      (11,546,051)
                                                 ------------      ------------
                                                   (3,855,785)       (3,366,193)

 Less 232,228 shares of common stock
   held in treasury, at cost                        2,068,124         2,068,124
                                                 ------------      ------------
                                                   (5,923,909)       (5,434,317)
                                                 ------------      ------------
                                                 $ 25,782,047      $ 25,122,992
                                                 ============      ============


                                       3
<PAGE>

                   FIRST HARTFORD CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                 Six Months Ended                      Three Months Ended
                                                 ----------------                      ------------------
                                      October 31, 2000     October 31, 1999    October 31, 2000     October 31, 1999
                                      ----------------     ----------------    ----------------     ----------------
<S>                                     <C>                  <C>                  <C>                  <C>
REVENUES, INCLUDING RELATED
  PARTY RESPECTIVELY:
  Sale of Real Estate                   $   148,367          $        --          $        --          $        --
  Construction                              109,310              274,739               45,549              194,996
  Rental                                  1,772,310            1,305,504              796,525              751,953
  Other                                     136,484              215,605               90,522              183,848

                                        -----------          -----------          -----------          -----------
                                          2,166,471            1,795,848              932,596            1,130,797

COSTS AND EXPENSES:
  Cost of Sale of Real Estate                25,356                   --                   --                   --
  Construction                               69,548              142,304               30,620              106,668
  Operating, selling general
  and administrative                        952,277              926,521              506,095              515,202
  Interest                                1,041,897              888,198              505,650              474,627
  Depreciation and amortization             241,578              147,235              120,767               74,021
  Real Estate Taxes                         325,408              176,009               77,984              148,089
                                        -----------          -----------          -----------          -----------

                                          2,656,064            2,280,267            1,241,116            1,318,607
                                        -----------          -----------          -----------          -----------
NET LOSS                                ($  489,593)         ($  484,419)         ($  308,520)         ($  187,810)
                                        ===========          ===========          ===========          ===========

Loss Per Share                          ($     0.16)         ($     0.16)         ($     0.10)         ($     0.06)

Weighted Average Number of
  Common Shares Outstanding               3,089,985            3,089,985            3,089,985            3,089,985
                                        ===========          ===========          ===========          ===========
</TABLE>


                                       4
<PAGE>

                   FIRST HARTFORD CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED STATEMENT OF CASH FLOWS
                                OCTOBER 31, 2000
                INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

<TABLE>
<CAPTION>
Cash flows from operating                             6 months ended               3 months ended
 activities:                                     10/31/00       10/31/99       10/31/00       10/31/99
                                               -----------    -----------    -----------    -----------
<S>                                            <C>            <C>            <C>            <C>
 Net Loss                                      ($  489,593)   ($  484,419)   ($  308,520)   ($  187,770)

 Adjustments to reconcile net loss
  to net cash used in operating activities:

  Depreciation                                     229,726        140,426        114,906         69,976
  Amortization                                      11,852          6,809          5,861          4,046

  Changes in assets and liabilities:
    Increase (Decrease) in:

  Accounts                                         (17,202)       (96,050)      (254,974)       (97,942)
  Deposits, escrows, prepaid and
     deferred expenses                            (319,633)      (274,158)       101,997        (18,402)
  Accrued liabilities                               59,884        119,818        (20,281)        75,054

   Decrease in:

Acct's payable                                    (567,296)    (1,032,426)         9,591       (309,333)
                                               -----------    -----------    -----------    -----------

Net cash used in oper. activities               (1,092,262)    (1,620,000)      (351,420)      (464,371)
                                               -----------    -----------    -----------    -----------

Cash flow from investing activities:

Purchases of Investments
 Proceed from Sale of Real Estate                  (26,244)            --             --             --
 Purchase of equip & leasehold imp                  (1,407)        (6,690)        (1,407)        (2,397)

Payments for:
 Additions to properties
   under construction                             (140,062)    (1,179,721)       (72,250)      (303,585)
                                               -----------    -----------    -----------    -----------

 Net Cash used in investing
   activities:                                    (167,713)    (1,186,411)       (73,657)      (305,982)
                                               -----------    -----------    -----------    -----------
</TABLE>

                   The accompanying notes are an integral part
                         of these financial statements.


                                       5
<PAGE>

                   FIRST HARTFORD CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENT OF CASH FLOWS, CONTINUED
                                OCTOBER 31, 2000
                     INCREASE (DECREASE) IN CASH EQUIVALENTS

<TABLE>
<CAPTION>
Cash flows from operating                     6 months ended               3 months ended
 activities:                              10/31/00       10/31/99       10/31/00      10/31/99
                                        -----------    -----------    -----------    -----------
<S>                                     <C>            <C>            <C>            <C>
Cash flows from operating activities:

 Proceeds from:
    Construction Loan                       419,545      2,241,195             --        376,594
    Mortgage Payable                      1,575,000             --             --             --
    Notes Payable                           500,000      1,325,000             --        975,000

Principal payments on:
    Construction Loan                            --             --             --             --
    Mortgage Payable                       (147,995)       (97,121)       (80,742)       (47,532)
    Notes Payable                          (710,000)            --        (50,000)            --

Adv. from Related Parties and
  affiliated Parties                       (521,207)      (724,861)       285,205       (527,234)
                                        -----------    -----------    -----------    -----------

Net Cash Provided by Financing
  Activities                              1,115,343      2,744,213        154,463        776,828
                                        -----------    -----------    -----------    -----------
Net Increase (Decrease) in cash
  & Cash Equivalents                       (144,632)       (62,198)      (270,614)         6,475

Cash & Cash Equivalents
  Beginning of Year                         146,405        106,017        272,387         37,344
                                        -----------    -----------    -----------    -----------

Cash & Cash Equivalents
  End of Year                           $     1,773    $    43,819    $     1,773    $    43,819
                                        ===========    ===========    ===========    ===========
</TABLE>

                  The accompanying notes are an integral part
                         of these financial statements.


                                       6
<PAGE>

Item 2.      FIRST HARTFORD CORPORATION AND SUBSIDIARIES
             MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
             CONDITION AND RESULTS OF OPERATIONS

Result of Operations

      The quarter ended October 31, 2000 produced a loss of $308,520 or (.10)
per share compared to a loss of $188,000 or (.06) per share for the quarter
ended October 31, 1999. For the six month period, a loss of $490,000 or (.16)
per share compares to a loss of $484,000 or (.16) per share for the period
ending October 31, 1999.

      For the three and six month periods ending October 31, 2000, rental income
has increased to $796,000 and $1,772,000 from $752,000 and $1,306,000 from the
comparable period in 1999.

      The Company is presently building a shopping center in Dover Township, New
Jersey as a Joint Venture in which the Registrant has 50% ownership.

      At this time it is essentially finished and fully leased with the
exception of one outparcel. By the end of the current quarter (January 31, 2000)
all of the stores will be open. The future of the center is however, somewhat in
doubt. The anchor store (Grand Union) has filed for protection under Chapter 11
of the Federal Bankruptcy Act. Grand Union has sold approximately 200 stores
(including this one) to C & S Wholesale Groceries Inc. (Grand Union's grocery
distributor) for approximately $300,000,000. C&S Wholesale Groceries has sold
about half of these stores to a group of supermarket chains. The other stores
(including ours) are going to be put into individual Limited Liability Company
and are to be run by C&S. It is the opinion of our management that C&S is still
shopping these stores around and will look to recoup fixtures and inventories.
We are actively speaking to other supermarket chains and feel confident that the
store can be re-rented.

      In the event that no buyer or re-renter is found and C&S closes the store,
the Company will suffer a material financial loss.

The Company has completed the purchase of a parcel of land in R.I. in which it
is joint venturing a new shopping center. The construction loan will close in
the second half of December, 2000.


                                       7
<PAGE>

Summary of Significant Account Policies:

      Description of business:

      First Hartford Corporation (the Company) was incorporated in Maine in
1909, and is engaged in the purchase, development, ownership, management and
sale of real estate. The Company extends credit to companies/tenants throughout
the United States.

      Principles of consolidation:

      The accompanying financial statements include the accounts of the Company
and its wholly-owned subsidiaries, including partnerships in which the Company
is a majority owner. All significant intercompany transactions and accounts have
been eliminated in the consolidated financial statements, including construction
revenues and costs of development for the Company's own use (rental/future
sale). The Company records its investment in partnerships in which it is not a
majority owner on the equity method.

      Financial Statement Presentation:

      Because the Company is engaged in the development and sale of real estate
in various stages of construction, the operating cycle may extend beyond one
year. Accordingly, following the usual practice of the real estate industry, the
accompanying consolidated balance sheets are unclassified.

      Revenue recognition:

      Since the Registrant is primarily involved in development for its own use
(rental/future sale), construction revenue is recorded only upon sale of the
property built for sale to third parties. Revenues from projects built for third
parties are recognized on the percentage-of-completion method of accounting
based on costs incurred to date in relation to total actual costs and estimated
costs to complete. Revisions in costs and profit estimates are reflected in
operations during the accounting period in which the facts become known. The
Registrant provides for estimated losses on contracts in the year such losses
become known. There are no properties built for sale to third parties during the
years ended April 30, 2000, 1999 and 1998.

      Rental revenues are recognized as income under the operating method as the
rentals become due. Other income includes management and service fees and
interest income which is recognized over the period in which the service is
provided or the interest is earned.


                                       8
<PAGE>

Interim Financial Information (Unaudited)

The interim financial statements of the Company for the six months ended October
31, 2000 and 1999 included herein, have been prepared by the Company, without
audit, pursuant to the rules and regulations of the SEC. Certain information and
footnote disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principals have been condensed or
omitted pursuant to the rules and regulations relating to interim financial
statements.


                                       9
<PAGE>

PART II - OTHER INFORMATION

                                   Signatures

            Pursuant to the requirements of the Securities
            Exchange Act of 1934, the Registrant has duly
            caused this report to be signed on its behalf by
            the undersigned thereunto duly authorized.

                                           FIRST HARTFORD CORPORATION


                                           /s/ Stuart Greenwald
                                           -------------------------------------
                                           Stuart Greenwald
                                           Treasurer
                                           Chief Financial Officer
                                           (Duly Authorized Officer,
                                           Principal Financial and
                                           Accounting Officer)

            Date: 12/14/2000
                  --------------------------------


                                       10