UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        Washington, D.C.  20549

                               FORM 10-Q



[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934

     For the quarterly period ended     September 30, 1995      

                                  or

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934

     For the transition period from              to                

     Commission File Number   0-21536  

               Brauvin Corporate Lease Program IV L. P.          
        (Exact name of registrant as specified in its charter)

                   Delaware                          36 -3800611     
        (State or other jurisdiction of             (I.R.S. Employer
          incorporation or organization)          Identification No.)

     150 South Wacker Drive, Chicago, Illinois           60606  
     (Address of principal executive offices)          (Zip Code)

                            (312) 443-0922                     
         (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 (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    .
<PAGE>
                BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                   (a Delaware limited partnership)

                                 INDEX
                                                               Page
PART I   Financial Information

Item 1.  Consolidated Financial Statements. . . . . . . . . . .          3

         Consolidated Balance Sheets at September 30, 1995
         and December 31, 1994. . . . . . . . . . . . . . . . .          4

         Consolidated Statements of Operations for the
         nine months ended September 30, 1995 and 
         September 30, 1994 . . . . . . . . . . . . . . . . . .          5

         Consolidated Statements of Operations for the 
         three months ended September 30, 1995 and 
         September 30, 1994 . . . . . . . . . . . . . . . . . .          6

         Consolidated Statements of Partners' Capital for
         the periods January 1, 1992 to September 30, 1995. . .          7

         Consolidated Statements of Cash Flows for the
         nine months ended September 30, 1995 and
         September 30, 1994 . . . . . . . . . . . . . . . . . .          8

         Notes to Consolidated Financial Statements . . . . . .          9

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations. . . . . . . . . .         15

PART II  Other Information

Item 1.  Legal Proceedings. . . . . . . . . . . . . . . . . . .         18

Item 2.  Changes in Securities. . . . . . . . . . . . . . . . .         18

Item 3.  Defaults Upon Senior Securities. . . . . . . . . . . .         18

Item 4.  Submissions of Matters to a Vote of Security Holders .         18

Item 5.  Other Information. . . . . . . . . . . . . . . . . . .         18

Item 6.  Exhibits and Reports on Form 8-K . . . . . . . . . . .         18

SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . . . .         19
<PAGE>
                    PART I - FINANCIAL INFORMATION



ITEM 1.  Consolidated Financial Statements

     Except for the December 31, 1994 Consolidated Balance Sheet, the
following Consolidated Balance Sheet as of September 30, 1995,
Consolidated Statements of Operations for the nine months ended
September 30, 1995 and 1994, Consolidated Statements of Operations for
the three months ended September 30, 1995 and 1994, Consolidated
Statements of Partners' Capital for the periods January 1, 1992 to
September 30, 1995 and Consolidated Statements of Cash Flows for the
nine months ended September 30, 1995 and 1994 for Brauvin Corporate
Lease Program IV L.P. (the "Partnership") are unaudited and have not
been examined by independent public accountants but reflect, in the
opinion of the management, all adjustments necessary to present fairly
the information required.  All such adjustments are of a normal
recurring nature.

     These consolidated financial statements should be read in
conjunction with the consolidated financial statements and notes thereto
included in the Partnership's 1994 Annual Report on Form 10-K.

<PAGE>
                  BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                     (a Delaware limited partnership)

                        CONSOLIDATED BALANCE SHEETS


                                        September 30,     December 31,
                                              1995             1994   
ASSETS
Investment in real estate, at cost:
   Land                                   $ 4,315,540       $ 4,315,540
   Buildings and improvements               9,993,090         9,993,090
                                           14,308,630        14,308,630
   Less: accumulated depreciation            (572,444)         (374,342)
   Net investment in real estate           13,736,186        13,934,288

 Cash and cash equivalents                    620,767           569,244
 Deferred rent receivable                     227,933           143,488
 Tenant receivables                            22,353            40,587
 Due from affiliates                               --            14,130
 Prepaid offering costs                       176,812           179,223
 Organization costs (net of
   accumulated amortization of 
   $20,500 and $16,000, respectively)           9,500            14,000
 Other assets                                      --               550
     Total Assets                         $14,793,551       $14,895,510

LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
Accounts payable and accrued 
 expenses                                 $    91,595       $   103,361
Rent received in advance                           --            50,006
Due to affiliates                               1,272               802
     Total Liabilities                         92,867           154,169

MINORITY INTERESTS IN BRAUVIN 
  GWINNETT COUNTY VENTURE                     712,904           726,640

PARTNERS' CAPITAL:
 General Partners                              10,794            10,794
 Limited Partners                          13,976,986        14,003,907
     Total Partners' Capital               13,987,780        14,014,701

     Total Liabilities and 
     Partners' Capital                    $14,793,551       $14,895,510

       See accompanying notes to consolidated financial statements.
<PAGE>
                  BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                     (a Delaware limited partnership)

                   CONSOLIDATED STATEMENTS OF OPERATIONS
                  For the Nine Months Ended September 30,

                                                                      
                                                1995                 1994   

INCOME:
 Rental                                        $1,227,483         $1,136,623
 Interest                                          19,873             38,724
 Other                                             38,623                501
    Total income                                1,285,979          1,175,848

EXPENSES:
 Acquisition fees not capitalized                      --             61,126
 General and administrative                       161,655            133,149
 Management fees (Note 4)                          12,489             11,077
 Amortization of organization costs                 4,500              4,500
 Depreciation                                     198,102            188,939
 Total expenses                                   376,746            398,791

 Income before minority interests
   in joint venture                               909,233            777,057

 Minority interests' share in Brauvin
   Gwinnett County Venture's net income           (44,374)           (43,800)

 Net income                                    $  864,859         $  733,257

 Net income allocated to the 
   General Partners                            $       --         $   14,665

 Net income allocated to the 
   Limited Partners                            $  864,859         $  718,592

 Net income per Unit outstanding (a)           $     0.53         $     0.45


 (a)Net income per Unit was based on the average Units outstanding during
 the period since they were of varying dollar amounts and percentages based
 upon the dates Limited Partners were admitted to the Partnership and
 additional Units were purchased through the Plan.


       See accompanying notes to consolidated financial statements.
<PAGE>
                   BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                       (a Delaware limited partnership)

                    CONSOLIDATED STATEMENTS OF OPERATIONS
                   For the Three Months Ended September 30,



                                                 1995               1994   

INCOME:
 Rental                                          $416,802          $383,010
 Interest                                           7,285             4,282
 Other                                             31,435            (3,040)

    Total income                                  455,522           384,252

EXPENSES:
 General and administrative                        94,375            34,207
 Management fees (Note 4)                           4,126             4,408
 Amortization of organization costs                 1,500             1,500
 Depreciation                                      66,034            66,034

  Total expenses                                  166,035           106,149

 Income before minority interests
  in joint venture                                289,487           278,103

 Minority interests' share in Brauvin
  Gwinnett County Venture's net income            (14,313)          (13,540)

 Net income                                      $275,174          $264,563

 Net income allocated to the
  General Partners                               $     --          $  5,291

 Net income allocated to the
  Limited Partners                               $275,174          $259,272

 Net income per Unit outstanding (a)             $   0.17          $   0.16


 (a) Net income per Unit was based on the average Units outstanding during the
 period since they were of varying dollar amounts and percentages based upon
 the dates Limited Partners were admitted to the Partnership and additional
 Units were purchased through the Plan.

         See accompanying notes to consolidated financial statements.
 <PAGE>
                   BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                       (a Delaware limited partnership)

                 CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL
       For the periods from January 1, 1992 through September 30, 1995

                              Initial
                              Limited     General     Limited
                              Partner     Partners    Partners*     Total   
Balance, January 1, 1992       $ 1,000      $   --   $       --   $    1,000
Withdrawals                     (1,000)         --           --       (1,000)
Contributions                       --          --    6,790,293    6,790,293
Selling commissions and other
 offering costs (Note 1)            --          --     (787,835)    (787,835)
Net income                          --         942       46,148       47,090
Cash distributions                  --          --      (75,484)     (75,484)
Balance, December 31, 1992          --         942    5,973,122    5,974,064
Contributions, net                  --          --    9,299,798    9,299,798
Subscription receivables            --          --      (78,500)     (78,500)
Selling commissions and other
 offering costs (Note 1)            --          --   (1,115,998)  (1,115,998)
Net income                          --       9,852      482,765      492,617
Cash distributions                  --          --     (495,347)    (495,347)
Balance, December 31, 1993          --      10,794   14,065,840   14,076,634
Collection of subscription
 receivables                        --          --       78,500       78,500
Contributions, net                  --          --       92,094       92,094
Selling commissions and other
 offering costs (Note 1)            --          --      (18,072)     (18,072)
Net income                          --          --    1,030,281    1,030,281
Cash distributions                  --          --   (1,244,736)  (1,244,736)
Balance, December 31, 1994          --      10,794   14,003,907   14,014,701
Contributions, net                  --          --       95,488       95,488
Selling Commissions and other
 offering costs (Note 1)            --          --      (14,421)     (14,421)
Net income                          --          --      864,859      864,859
Cash distributions                  --          --     (972,847)    (972,847)
Balance, September 30, 1995   $     --    $ 10,794  $13,976,986  $13,987,780

  *Total Units sold, including those raised through the Plan, at September 30, 
1995, December 31, 1994 and 1993 were 1,627,767, 1,617,478 and 1,609,009, 
respectively. Cash distributions to Limited Partners per Unit were $0.60, 
$0.77 and $0.43 for the nine months ended September 30, 1995, and the years 
ended December 31, 1994 and 1993, respectively.  Cash distributions to 
Limited Partners per Unit are based on the average Units outstanding during 
the period since they were of varying dollar amounts and percentages based 
upon the dates Limited Partners were admitted to the Partnership and 
additional Units were purchased through the distribution reinvestment plan.

         See accompanying notes to consolidated financial statements.
<PAGE>
                   BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                       (a Delaware limited partnership)

                    CONSOLIDATED STATEMENTS OF CASH FLOWS
                   For the Nine Months Ended September 30,


                                                  1995            1994   

Cash flows from operating activities:
Net income                                        $864,859      $ 733,257
Adjustments to reconcile net income to net
   cash provided by operating activities:
Depreciation and amortization                      202,602        193,439
Minority interests in Brauvin Gwinnett 
   County Venture's net income                      44,374         43,800
Acquisition fees not capitalized                        --         61,126
Decrease (increase) in due from affiliates          14,130         (2,169)
Increase in deferred rent receivable               (84,445)       (50,964)
Decrease (increase) in rent receivable              18,234        (13,999)
Decrease in other assets                               550         22,539
Decrease in accounts payable and 
   accrued expenses                                (11,766)       (39,212)
Decrease in rent received in advance               (50,006)        (6,000)
Increase (decrease) in due to affiliates               470        (16,215)
Total adjustments                                  134,143        192,345
Net cash provided by operating activities          999,002        925,602

Cash flows from investing activities:
Purchase of real estate                                 --     (4,278,330)
Acquisition fees not capitalized                        --        (61,126)
Minority interests' share of distribution
   from Brauvin Gwinnett County Venture            (58,110)       (53,640)
Net cash used in investing activities              (58,110)    (4,393,096)

Cash flows from financing activities:
Sale of Units, net of liquidations and
   selling commissions and other offering costs     83,478        116,918
Cash distributions to Limited Partners            (972,847)      (836,117)
Net cash used in financing activities             (889,369)      (719,199)

Net increase (decrease) in cash and
   cash equivalents                                 51,523     (4,186,693)
Cash and cash equivalents at beginning
    of period                                      569,244      4,803,350
Cash and cash equivalents at end of period       $ 620,767    $   616,657
         See accompanying notes to consolidated financial statements.
<PAGE>
                   BRAUVIN CORPORATE LEASE PROGRAM IV L.P.
                       (a Delaware limited partnership)

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

    ORGANIZATION

    Brauvin Corporate Lease Program IV L.P. (the "Partnership") is a Delaware
limited partnership formed on August 7, 1991 for the purpose of acquiring
debt-free ownership of existing, income-producing retail and other commercial
properties predominantly all of which will be subject to "triple-net" leases. 
It is anticipated that these properties will be leased primarily to corporate
lessees of national and regional retail businesses, service providers and other
users consistent with "triple-net" lease properties.  The leases will provide
for a base minimum annual rent and increases in rent such as through
participation in gross sales above a stated level, fixed increases on specific
dates or indexation of rent to indices such as the Consumer Price Index.  The
General Partners of the Partnership, are Brauvin Realty Advisors IV, Inc.,
Jerome J. Brault and Cezar M. Froelich.  Brauvin Realty Advisors IV, Inc. is
owned by Messrs. Brault (50%) and Froelich (50%).  Brauvin Securities, Inc., an
affiliate of the General Partners, is the selling agent of the Partnership.

    The Partnership filed a Registration Statement on Form S-11 with the
Securities and Exchange Commission which was declared effective on December 12,
1991.  Per the terms of the Restated Limited Partnership Agreement of the
Partnership (the "Agreement"), the minimum of $1,200,000 of limited partnership
interests of the Partnership (the "Units") necessary for the Partnership to
commence operations was achieved on April 27, 1992.  The Partnership's offering
was anticipated to close on December 11, 1992 but the Partnership obtained an
extension until December 11, 1993.  A total of 1,600,871 Units were sold to the
public through the initial offering at $10 per Unit ($16,008,710).

    An additional $348,963 of Units was sold through the Partnership's
distribution reinvestment plan (the "Plan") as of September 30, 1995, and
$80,000 of original Units sold through the public offering, have been purchased
by the Partnership from investors liquidating their investment and have been
retired.  As of September 30, 1995, the Plan participants own Units which
approximate 2% of the total Units sold.

    The Partnership has acquired the land and buildings underlying a
Steak n Shake restaurant, a Children's World Learning Center, two
Chuck E. Cheese's restaurants, a Mrs. Winner's Chicken and Biscuit restaurant,
a House of Fabrics store, a Volume ShoeSource store, an East Side Mario's
restaurant, a Blockbuster Video store and a Walden Books store.  In addition,
the Partnership had acquired a 70.2% equity interest in a joint venture with 
two entities affiliated with the Partnership.  This venture owns the land and
building underlying a CompUSA store.

 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 Accounting Method

 The accompanying financial statements have been prepared using the accrual
method of accounting.

 Rental Income

 Rental income is recognized on a straight-line basis over the life of the
related leases.  Differences between rental income earned and amounts due per
the respective lease agreements are credited or charged, as applicable, to
deferred rent receivable.

 Federal Income Taxes

 Under the provisions of the Internal Revenue Code, the Partnership's income
and losses are reportable by the partners on their respective income tax
returns.  Accordingly, no provision is made for Federal income taxes in the
Consolidated Financial Statements.  However, in certain instances, the
Partnership has been required under applicable state law to remit directly to
the tax authorities amounts representing withholding from distributions paid to
partners.

 Consolidation of Joint Venture

 The Partnership owns a 70.2% equity interest in a joint venture, which owns
the land and the buildings underlying one CompUSA store.  The accompanying
financial statements have consolidated 100% of the assets, liabilities,
operations and partners' capital of Brauvin Gwinnett County Venture.  All
significant intercompany accounts have been eliminated.

 Investment in Real Estate

 The operating properties acquired by the Partnership are stated at cost
including acquisition costs, net of accumulated depreciation.  Depreciation
expense is computed on a straight-line basis over approximately 39 years.

 Organization and Offering Costs

 Organization costs represent costs incurred in connection with the
organization and formation of the Partnership.  Organization costs will be
amortized over a period of five years using the straight-line method.  Offering
costs represent costs incurred in selling Units, such as the printing of the
Prospectus and marketing materials and will be recorded as a reduction of
Limited Partners' capital.

 The General Partners have guaranteed payment of any organization and
offering costs that exceed 2% of the gross proceeds of the Partnership's
offering.  Prepaid offering costs represent amounts in excess of the defined
percentages of the gross proceeds.  Subsequently, gross proceeds are expected
to increase due to the purchase of additional Units through the distribution
reinvestment Plan (the "Plan") and the prepaid offering costs will be
transferred to offering costs and treated as a reduction in Partners' Capital.

 Cash and Cash Equivalents

 Cash and cash equivalents include all highly liquid debt instruments with
an original maturity within three months from date of purchase.

2)    PARTNERSHIP AGREEMENT

 Distributions

 All Operating Cash Flow, as defined in the Partnership Agreement (the
"Agreement"), during the period commencing with the date the Partnership 
accepts subscriptions for Units totaling $1,200,000 and terminating on the 
Termination Date, as defined in the Prospectus, shall be distributed to the 
Limited Partners on a quarterly basis.  Distributions of Operating Cash Flow, 
if available, shall be made within 45 days following the end of each calendar 
quarter, commencing with the first quarter following the Termination Date.  
Operating Cash Flow during such period shall be distributed as follows:  
(a) first, to the Limited Partners until the Limited Partners receive an 
amount equal to a 9% non-cumulative, non-compounded annual return on Adjusted 
Investment, as defined in the Agreement, commencing on the last day of the 
calendar quarter in which the Unit was purchased (the "Current Preferred 
Return"); and (b) thereafter, any remaining amounts will be distributed 98% 
to the Limited Partners (on a pro rata basis) and 2% to the General Partners.


 The net proceeds of a sale or refinancing of a Partnership property shall
be distributed as follows:

      first, pro rata to the Limited Partners until each Limited Partner has
      received an amount equal to a 10% cumulative, non-compounded, annual
      return of Adjusted Investment (the "Cumulative Preferred Return");

      second, to the Limited Partners until each Limited Partner has received
      an amount equal to the amount of his Adjusted Investment, apportioned
      pro rata based on the amount of the Adjusted Investment;

      thereafter, 95% to the Limited Partners (apportioned pro rata based on
      Units) and 5% to the General Partners.

 Profits and Losses

 Net profits and losses from operations of the Partnership [computed without
regard to any allowance for depreciation or cost recovery deductions under the
Internal Revenue Code of 1986, as amended (the "Code")] for each taxable year
of the Partnership shall be allocated to each Partner in the same ratio as the
cash distributions received by such Partner attributable to that period bears
to the total cash distributed by the Partnership.  In the event that there are
no cash distributions, net profits and losses from operations of the 
Partnership (computed without regard to any allowance for depreciation or cost 
recovery deductions under the Code) shall be allocated 99% to the Limited 
Partners and 1% to the General Partners.  Notwithstanding the foregoing, all 
depreciation and cost recovery deductions allowed under the Code shall be 
allocated 2% to the General Partners and 98% to the Class A Investors, as 
defined in the Agreement.

 The net profit of the Partnership from any sale or other disposition of a
Partnership property shall be allocated (with ordinary income being allocated
first) as follows:  (a) first, an amount equal to the aggregate deficit 
balances of the Partners' Capital Accounts, as such term is defined in the 
Agreement, shall be allocated to each Partner who or which has a deficit 
Capital Account balance in the same ratio as the deficit balance of such 
Partner's Capital Account bears to the aggregate of the deficit balances of 
all Partners' Capital Accounts;  (b) second, to the Limited Partners until 
the Capital Account balances of the Limited Partners are equal to any unpaid 
Cumulative Preferred Return as of such date; third, to the Limited Partners 
until the Capital Account balances of the Limited Partners are equal to the 
sum of the amount of their Adjusted Investment plus any unpaid Cumulative 
Preferred Return;  (d) fourth, to the General Partners until their Capital 
Account balances are equal to any previously subordinated fees; and 
(e) thereafter, 95% to the Limited Partners and 5% to the General Partners.  
The net loss of the Partnership from any sale or other disposition of a 
Partnership property shall be allocated as follows:  (a) first, an amount 
equal to the aggregate positive balances in the Partners' Capital Accounts, 
to each Partner in the same ratio as the positive balance in such Partner's 
Capital Account bears to the aggregate of all
Partners' positive Capital Accounts balances; and (b) thereafter, 95% to the
Limited Partners and 5% to the General Partners.

 Distributions to Limited Partners for the third quarter of 1995 will be
made to investors receiving quarterly distributions on November 15, 1995 and to
investors receiving monthly distributions on approximately October, November 
and December 15, 1995, in the aggregate amount of $326,571.

(3)   TRANSACTIONS WITH RELATED PARTIES

 The Partnership pays an affiliate of the General Partners an acquisition
fee in the amount of up to 5% of the gross proceeds of the Partnership's
offering for the services rendered in connection with the process pertaining to
the acquisition of a property.  Acquisition fees related to the properties not
ultimately purchased by the Partnership are expensed as incurred.

 The Partnership paid an affiliated entity a non-accountable selling expense
allowance in an amount equal to 2% of the gross proceeds of the Partnership's
offering, a portion of which may be reallowed to participating dealers.

 In the event that the Partnership does not use more than 2% of the gross
proceeds of the offering for the payment of legal, accounting, escrow, filing
and other fees incurred in connection with the organization or formation of the
Partnership, the Partnership may pay the General Partners any unused portion of
the 2% of the gross proceeds of the offering allowed for organization and
offering expenses, not to exceed 1/2% of the gross proceeds of the offering. 
The General Partners will use such funds to pay certain expenses of the 
offering incurred by them not covered by the definition of organization and 
offering expenses.

 An affiliate of the General Partners provides leasing and re-leasing
services to the Partnership in connection with the management of Partnership
properties.  The property management fee payable to an affiliate of the General
Partners  is 1% of the gross revenues of each Partnership property.

 An affiliate of the General Partners or the General Partners will receive
a real estate brokerage commission in connection with the disposition of
Partnership properties.  Such commission will be in an amount equal to the
lesser of: (I) 3% of the sale price of the property; or (ii) 50% of the real
estate commission customarily charged for similar services in the locale of the
property being sold; provided, however, that receipt by the General Partners or
one of their affiliates of such commission is subordinated to receipt by the
Limited Partners of their Current Preferred Return.

 An affiliate of one of the General Partners provides securities and real
estate counsel to the Partnership.

 Fees, commissions and other expenses paid or payable to the General
Partners or its affiliates for the nine months ended September 30, 1995 and 
1994 were as follows:

                                              1995          1994   

    Acquisition fees                        $     --       $244,503
    Selling commissions                       13,224         11,129
    Management fees                           12,489         11,077
    Reimbursable operating expense            52,200         38,778
    Legal fees                                 4,844          2,700
<PAGE>
Item 2.    Management's Discussion and Analysis of Financial Condition and
           Results of Operations.

Liquidity and Capital Resources

 The Partnership commenced an offering to the public on December 12, 1991
of 3,300,000 Units, 300,000 of which are available only through the
Partnership's distribution reinvestment plan (the "Plan").  The offering was
anticipated to close on December 11, 1992, but was extended until December 11,
1993 with the appropriate governmental approvals.  None of the Units were
subscribed and issued between December 12, 1991 and December 31, 1991, pursuant
to the Partnership's public offering.  The offering was conditioned upon the
sale of $1,200,000, which was achieved on April 27, 1992.  The Partnership
raised a total of $16,008,710 through the initial offering and an additional
$348,963 through the distribution reinvestment plan through September 30, 
1995. As of September 30, 1995, Units valued at $80,000 have been purchased 
by the Partnership from Limited Partners liquidating their original 
investment and have been retired.

 The General Partners have adopted an enhancement to the Partnership's
Distribution Reinvestment Plan effective August, 1995.  This enhancement will
permit unit holders to reinvest at a unit price that will be adjusted to 
reflect any return of investor capital generated through property sales.  
In addition, any unit liquidations will also occur at the adjusted unit 
price.

 In 1992, the Partnership purchased the land and buildings underlying a
Steak n' Shake restaurant, a Children's World Learning Center and a PetsMart
retail store.  Due to PetsMart's inability to comply with certain Partnership's
acquisition requirements, PetsMart repurchased the store from the Partnership
in March 1993.  In 1993, the Partnership purchased the land and buildings of 
two Chuck E. Cheese's restaurants, a Mrs. Winner's Chicken & Biscuit 
restaurant, a SoFro Fabric store, a Volume ShoeSource store and purchased a 
70.2% equity interest in an affiliated joint venture which acquired the land 
and building underlying a CompUSA computer superstore.   In 1994, the 
Partnership purchased the land and buildings underlying an East Side Mario's 
restaurant, a Blockbuster Video store and a Walden Books store.

 The Partnership is now fully invested in properties with the exception of
funds raised through the Plan.  These operating properties are expected to
generate cash flow for the Partnership after deducting certain operating and
general and administrative expenses from their rental income.  






Below is a table summarizing the historical data for distribution rates per
annum:

Distribution
    Date       1995    1994   1993    1992 
    
February 15    8.00%    6.50% 6.00%    --

May 15         8.00     7.00  6.00    3.68%

August 15      8.00     8.00  5.00    7.00

November 15    8.00    10.00  5.50    6.00

    Future increases in the Partnership's distributions will depend on
increased sales at the Partnership's properties, resulting in additional
percentage rent.  Rental increases, to a lesser extent, may occur due to
increases in receipts from certain leases based upon increases in the Consumer
Price Index or scheduled increases of base rent.

Results of Operation - Nine Months Ended September 30, 1995 and 1994

    Results of operations for the nine months ended September 30, 1995
reflected net income of $864,859 compared to net income of $733,257 for the 
nine months ended September 30, 1994, an increase of approximately $132,000.  
The increase in net income is due to 1995 reflecting a full nine months of
operations of three properties acquired during the first quarter of 1994.  

    Total income was $1,285,979 in 1995 as compared to $1,175,848 in 1994, an
increase of approximately $110,000. The increase in total income is due to 1995
rental income reflecting a full nine months of operations of three properties
acquired during the first quarter of 1994 and an increase in other income as 
the result of the reclassification of tenant reimbursements.

    Total expenses were $376,746 in 1995 as compared to $398,791 in 1994, a
decrease of approximately $22,000.  The decrease in total expenses was mainly
due to the decrease in acquisition fees of $61,126 as a result of the
Partnership not acquiring any additional properties during 1995. Partially
offsetting the decrease in acquisition fees is an increase in general and
administrative expenses.

Results of Operations - Three Months Ended September 30, 1995 and 1994

    Results of operations for the three months ended September 30, 1995
reflected net income of $275,174 compared to net income of $264,563 for the
three months ended September 30, 1994, an increase of approximately $11,000.

    Total income for the three months ended September 30, 1995 was $455,522
compared to total income of $384,252 for the period ended September 30, 1994,
an increase of approximately $71,000.  The increase in total income is mainly
due to an increase in common area reimbursements.

    Total expenses for the three months ended September 30, 1995 were $166,035
as compared to $106,149 in 1994, an increase of approximately $60,000.  The
increase in total expense was mainly due to the increase in general and
administration expenses such as audit, legal and professional fees.   
<PAGE>
                         PART II - OTHER INFORMATION


ITEM 1.  Legal Proceedings.

    On October 14, 1993, an affiliate of the Partnership, Brauvin, Inc.,
brought a lawsuit against an unaffiliated seller due to the seller's alleged
refusal to proceed under the terms of a purchase and sale agreement Brauvin,
Inc. entered into to acquire three properties in Jacksonville, Florida.  
In this lawsuit, Brauvin, Inc. has sought specific performance of the 
purchase and sale agreement to require the unaffiliated seller to sell the 
subject properties to Brauvin, Inc.  Brauvin, Inc. subsequently amended its 
complaint to add the tenant of the properties, Rally's, Inc., as an additional 
defendant seeking an unspecified amount of damages.  Rally's, Inc. was added 
because of its activities which Brauvin, Inc. alleges have tortiously 
interfered with the business relations between Brauvin, Inc. and the seller.

    In response to the lawsuit, the seller made a counterclaim against Brauvin,
Inc. with counts for slander of title, tortious interference with an
advantageous business relationship, conspiracy and to quiet title.  The seller
has also sued an employee of Brauvin, Inc. and the Partnership.  The
counterclaim is seeking damages in an amount in excess of $2,000,000, together
with punitive damages.  The Partnership filed a motion to dismiss as the
Partnership believes the Florida court does not have jurisdiction over the
Partnership.  During 1994, the motion to dismiss was denied.  The Partnership
made attempts to settle but did not succeed.  The Partnership intends to
vigorously defend itself in this action.  During the third quarter of 1995 
there has been no change in the legal proceedings.

ITEM 2.  Changes in Securities.

               None.

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.

               Exhibit 27.  Financial Data Schedule
<PAGE>
                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of l934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                         BY:  Brauvin Realty Advisors IV, Inc.
                              Corporate General Partner of
                              Brauvin Corporate Lease Program IV L.P.



                              BY:   /S/ Jerome J. Brault                  
                                    Jerome J. Brault
                                    Chairman of the Board of Directors,
                                    President and Chief Executive Officer

                              DATE: November 14, 1995



                             BY:   /s/ Thomas J. Coorsh  
                                   Thomas J. Coorsh
                                   Chief Financial Officer and Treasurer
                                   
                              DATE: November 14, 1995