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

                           FORM 10-KSB

             Annual Report Under Section 13 or 15(d)
             of The Securities Exchange Act of 1934

          For the Fiscal Year Ended:  December 31, 2001

               Commission file number:  333-52960

                 AEI INCOME & GROWTH FUND 24 LLC
         (Name of Small Business Issuer in its Charter)

        State of Delaware                41-1990952
(State or other Jurisdiction of     (I.R.S. Employer)
Incorporation or Organization)     Identification No.)

     1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
            (Address of Principal Executive Offices)

                          (651) 227-7333
                   (Issuer's telephone number)

Securities registered pursuant to Section 12(b) of the Act:
                                 Name of each exchange on
     Title of each class             which registered
             None                          None

Securities registered pursuant to Section 12(g) of the Act:

                   Limited Liability Company Units
                        (Title of class)

Check  whether  the issuer (1) filed all reports required  to  be
filed  by Section 13 or 15(d) of the Securities Exchange  Act  of
1934  during the past 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

Check if disclosure of delinquent filers in response to Rule  405
of  Regulation  S-B  is  not  contained  in  this  Form,  and  no
disclosure  will  be contained, to the best of  the  registrant's
knowledge,   in   definitive  proxy  or  information   statements
incorporated by reference in Part III of this Form 10-KSB or  any
amendment to this Form 10-KSB.  [X]

The  Issuer's  revenues  for year ended December  31,  2001  were
$50,013.

As  of  February 28, 2002, there were 5,959.399 Units of  limited
membership  interest in the registrant outstanding and  owned  by
nonaffiliates  of  the registrant, which Units had  an  aggregate
market  value (based solely on the price at which they were  sold
since there is no ready market for such Units) of $5,959,399.


               DOCUMENTS INCORPORATED BY REFERENCE

 The registrant has not incorporated any documents by reference
                        into this report.

         Transitional Small Business Disclosure Format:

                         Yes       No [X]


                             PART I

ITEM 1.   DESCRIPTION OF BUSINESS.

        AEI  Income  & Growth Fund 24 LLC (the "Company"  or  the
"Registrant") is a limited liability company which was  organized
pursuant  to  the laws of the State of Delaware  on  December  7,
2000.   The  registrant is comprised of AEI Fund Management  XXI,
Inc.  (AFM),  as  the  Managing Member, Robert  P.  Johnson,  the
President  and  sole shareholder of AFM, as the Special  Managing
Member,  and  purchasers of LLC Units as  Limited  Members.   The
Company  offered for sale up to $50,000,000 of limited membership
interests  (the  "Units")  (50,000  Units  at  $1,000  per  Unit)
pursuant to a registration statement effective May 18, 2001   The
Company  commenced  operations on October 31, 2001  when  minimum
subscriptions of 1,500 LLC Units ($1,500,000) were accepted.   At
December  31, 2001, 3,522.154 Units ($3,522,154) were  subscribed
and   accepted  by  the  Company.   The  Managing  Members   have
contributed capital of $1,000.

        The  Company was organized to acquire existing and  newly
constructed  commercial properties, to lease such  properties  to
tenants under triple net leases, to hold such properties  and  to
eventually  sell such properties.  As of December 31,  2001,  the
Company had purchased one property at a total cost of $1,748,149.
The property is a commercial, single tenant building leased under
a  triple net lease.  The Company is continuing to review various
properties for acquisition until available subscription  proceeds
are fully committed.

         The   Company's   properties  will  be  purchased   with
subscription proceeds without any indebtedness.  The Company will
not  finance properties in the future to obtain proceeds for  new
property  acquisitions.  If it is required to do so, the  Company
may incur short-term indebtedness to finance day-to-day cash flow
requirements (including cash flow necessary to repurchase Units).
The Company may borrow to finance the refurbishing of a property.

        The  Company will hold its properties until the  Managing
Members  determine  that  the sale or other  disposition  of  the
properties  is  advantageous in view of the Company's  investment
objectives.  In deciding whether to sell properties, the Managing
Members will consider factors such as potential appreciation, net
cash  flow  and income tax considerations.  In addition,  certain
lessees  may  be granted options to purchase properties  after  a
specified  portion  of the lease term has elapsed.   The  Company
expects to sell some or all of its properties prior to its  final
liquidation  and  to  reinvest the proceeds from  such  sales  in
additional  properties.  The Company reserves the right,  at  the
discretion of the Managing Members, to either distribute proceeds
from  the  sale of properties to the Members or to reinvest  such
proceeds  in  additional  properties,  provided  that  sufficient
proceeds  are distributed to the Limited Members to  pay  federal
and state income taxes related to any taxable gain recognized  as
a  result  of the sale.  It is anticipated that the Company  will
commence liquidation through the sale of its remaining properties
eight  to twelve years after completion of the acquisition phase,
depending  upon  the then current real estate and money  markets,
the  economic  climate  and the income tax  consequences  to  the
Members.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

Leases

       Although there will be variations in the specific terms of
the  leases, the following is a summary of the general  terms  of
the  Company's leases.  The properties will be leased to  various
tenants  under  triple  net  leases,  which  are  classified   as
operating  leases.   Under  a triple net  lease,  the  lessee  is
responsible  for  all real estate taxes, insurance,  maintenance,
repairs  and  operating expenses for the property.   The  initial
lease  terms will be for 15 to 20 years.  The leases will provide
for base annual rental payments, payable in monthly installments,
and  contain  rent clauses which entitle the Company  to  receive
additional rent in future years based on stated rent increases.

        The  leases may provide the lessees with renewal  options
subject  to  the same terms and conditions as the initial  lease.
Certain  lessees may be granted options to purchase the property.
Depending  on  the  lease,  the purchase  price  will  be  either
determined by a formula, or the greater of the fair market  value
of  the  property or the amount determined by a formula.  In  all
cases,  if  the  option were to be exercised by the  lessee,  the
purchase  price would be greater than the original  cost  of  the
property.

        On  November 1, 2001, the Company purchased a  Children's
World   daycare  center  in  Round  Lake  Beach,   Illinois   for
$1,748,149.   The  property  is  leased  to  ARAMARK  Educational
Resources, Inc. under a Lease Agreement with a primary term of 15
years and annual rental payments of $166,535.

        The property was purchased from AEI Fund Management XVII,
Inc.   (AFMX),  an  affiliate  of  the  Managing  Members.   AFMX
purchased the property from ARAMARK Educational Resources,  Inc.,
an  unrelated third party, on March 30, 2001. The price  paid  by
the Company was equal to the price paid by AFMX plus the expenses
incurred  to  transfer ownership of the property to the  Company.
During  the  period the property was owned by AFMX, the  property
generated  net  income of $21,525, which was  also  paid  to  the
Company.   There  was  no  other  benefit  arising  out  of   the
transaction  to  the Managing Members or their  affiliates  apart
from compensation otherwise permitted by the Operating Agreement.

Major Tenants

        During 2001, one tenant contributed 100% of the Company's
total  rental  revenue  in 2001.  Because  the  Company  has  not
completed  its acquisition of properties, it is not  possible  to
determine which tenants will contribute more than ten percent  of
the  Company's rental revenue in 2002 and future years.   In  the
event  that  certain tenants contribute more than ten percent  of
rental  revenue  in  future years, any  failure  of  these  major
tenants could materially affect the Company's net income and cash
distributions.

Competition

        The  Company  is  a minor factor in the  commercial  real
estate  business.   There are numerous entities  engaged  in  the
commercial  real  estate  business which have  greater  financial
resources  than the Company.  At the time the Company  elects  to
dispose  of its properties, it will be in competition with  other
persons and entities to find buyers for its properties.

Employees

        The Company has no direct employees.  Management services
are  performed for the Company by AEI Fund Management,  Inc.,  an
affiliate of AFM.

ITEM 2.   DESCRIPTION OF PROPERTIES.

Investment Objectives

         The  Company's  investment  objectives  are  to  acquire
existing or newly-developed commercial properties that offer  the
potential  for  (i) regular cash distributions of  lease  income;
(ii)  growth  in lease income through rent escalation provisions;
(iii) preservation of capital through all-cash transactions; (iv)
capital  growth through appreciation in the value of  properties;
and  (v)  stable  property  performance through  long-term  lease
contracts.  The Company does not have a policy, and there  is  no
limitation, as to the amount or percentage of assets that may  be
invested  in any one property.  However, to the extent  possible,
the  Managing Members attempt to diversify the type and  location
of the properties.

Description of Properties

       The Company's properties will be commercial, single tenant
buildings.  The properties will be acquired on a debt-free  basis
and leased to various tenants under triple net leases, which will
be  classified  as operating leases.  The Company  will  hold  an
undivided fee simple interest in the properties.

        The  Company's properties will be subject to the  general
competitive conditions incident to the ownership of single tenant
investment real estate.  Since each property will be leased under
a  long-term lease, there is little competition until the Company
decides to sell the property.  At this time, the Company will  be
competing  with other real estate owners, on both a national  and
local level, in attempting to find buyers for the properties.  In
the  event  of  a tenant default, the Company would be  competing
with  other  real estate owners, who have property vacancies,  to
attract  a  new  tenant  to  lease the property.   The  Company's
tenants  operate in industries that are very competitive and  can
be  affected  by  factors such as changes in  regional  or  local
economies, seasonality and changes in consumer preference.

       The following table is a summary of the properties that
the Company acquired and owned as of December 31, 2001.

                                Total Property               Annual   Annual
                       Purchase  Acquisition                 Lease    Rent Per
Property                 Date      Costs        Lessee       Payment  Sq. Ft.

Children's World                                ARAMARK
Daycare Center                                Educational
Round Lake Beach, IL    11/1/01  $1,748,149  Resources, Inc. $166,535 $18.61

        The  initial  Lease  term is for  15  years.   The  Lease
contains  renewal  options which may extend  the  Lease  term  an
additional 15 years.

       Pursuant to the Lease Agreement, the tenant is required to
provide proof of adequate insurance coverage on the property they
occupy.   The Managing Members believe the property is adequately
covered  by  insurance  and consider the  property  to  be  well-
maintained and sufficient for the Company's operations.

ITEM 2.   DESCRIPTION OF PROPERTIES.  (Continued)

       For tax purposes, the Company's properties are depreciated
under the Modified Accelerated Cost Recovery System (MACRS).  The
largest depreciable component of a property is the building which
is  depreciated, using the straight-line method, over  39  years.
The  remaining depreciable components of a property are  personal
property  and land improvements which are depreciated,  using  an
accelerated method, over 5 and 15 years, respectively.  Since the
Company  has  tax-exempt Members, the Company is subject  to  the
rules  of  Section 168(h)(6) of the Internal Revenue  Code  which
requires  a  percentage of the properties' depreciable components
to  be  depreciated  over  longer lives using  the  straight-line
method.  In general, the federal tax basis of the properties  for
tax  depreciation purposes will be the same as the basis for book
depreciation purposes.

        Through  December 31, 2001, all properties  listed  above
were 100% occupied.

ITEM 3.   LEGAL PROCEEDINGS.

       None.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

       None.


                             PART II

ITEM 5.   MARKET FOR THE REGISTRANT'S LLC UNITS AND RELATED
          SECURITY HOLDER MATTERS.

        As of December 31, 2001, there were 100 holders of record
of  the  registrant's  LLC Units.  There is  no  other  class  of
security  outstanding or authorized.  The registrant's Units  are
not  a  traded  security  in any market.  However,  beginning  in
September,  2004,  the  Company may acquire  Units  from  Limited
Members who have tendered their Units to the Company.  Such Units
may be acquired at a discount.  The Company will not be obligated
to purchase in any year any number of Units that, when aggregated
with  all  other transfers of Units that have occurred since  the
beginning   of  the  same  calendar  year  (excluding   Permitted
Transfers as defined in the Operating Agreement), would exceed 2%
of  the  total number of Units outstanding on January 1  of  such
year.   In  no  event shall the Company be obligated to  purchase
Units  if,  in the sole discretion of the Managing Members,  such
purchase would impair the capital or operation of the Company.

        Cash  distributions  of $474 were made  to  the  Managing
Members  and  $15,339 were made to the Limited Members  in  2001.
The  distributions were made on a quarterly basis  and  represent
Net  Cash  Flow, as defined.  These distributions should  not  be
compared with dividends paid on capital stock by corporations.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.

Results of Operations

        For  the  year  ended  December  31,  2001,  the  Company
recognized rental income of $27,756.  For the year ended December
31,  2001,  the  Company  earned $732 in investment  income  from
subscription  proceeds which were invested in a short-term  money
market account.
ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

       The Company purchased a Children's World daycare center in
Round  Lake  Beach, Illinois from an affiliate  of  the  Managing
Members.   During  the  period the  property  was  owned  by  the
affiliate,   the  property  generated  net  income  of   $21,525.
Pursuant to the Operating Agreement, this amount was paid to  the
Company  and  is  shown  as Miscellaneous Income  on  the  Income
Statement.

        During the year ended December 31, 2001, the Company paid
LLC  administration  expenses to affiliated parties  of  $21,365.
These administration expenses include initial start-up costs  and
expenses  associated  with  the  management  of  the  properties,
processing    distributions,    reporting    requirements     and
correspondence to the Limited Members.  During the  same  period,
the  Company incurred LLC administration and property  management
expenses   from  unrelated  parties  of  $722.   These   expenses
represent  direct payments to third parties for legal and  filing
fees,  direct administrative costs, outside audit and  accounting
costs, taxes, insurance, and other property costs.

        As  of December 31, 2001, the Company's cash distribution
rate was 4.25% on an annualized basis.  Pursuant to the Operating
Agreement, distributions of Net Cash Flow were allocated  97%  to
the Limited Members and 3% to the Managing Members.

        Inflation  has  had  a  minimal  effect  on  income  from
operations.   Leases  may contain rent increases,  based  on  the
increase  in  the  Consumer Price Index over a specified  period,
which  will result in an increase in rental income over the  term
of  the  leases.   In addition, leases may contain  rent  clauses
which  entitle the Company to receive additional rent  in  future
years if gross receipts for the property exceed certain specified
amounts.   Increases  in sales volumes of  the  tenants,  due  to
inflation  and  real sales growth, may result in an  increase  in
rental  income over the term of the leases.  Inflation  also  may
cause the real estate to appreciate in value.  However, inflation
and  changing prices may have an adverse impact on the  operating
margins  of  the  properties' tenants, which could  impair  their
ability  to  pay rent and subsequently reduce the Net  Cash  Flow
available for distributions.

Liquidity and Capital Resources

        The  Company's primary sources of cash are proceeds  from
the  sale of Units, investment income, rental income and proceeds
from  the  sale  of  property.  Its  primary  uses  of  cash  are
investment  in real properties, payment of expenses  involved  in
the   sale  of  Units,  the  organization  of  the  Company,  the
management of properties, the administration of the Company,  and
the payment of distributions.

        The Operating Agreement requires that no more than 15% of
the  proceeds  from  the  sale of Units be  applied  to  expenses
involved  in the sale of Units (including Commissions)  and  that
such expenses, together with acquisition expenses, not exceed 20%
of  the proceeds from the sale of Units.  As set forth under  the
caption  "Estimated  Use  of Proceeds"  of  the  Prospectus,  the
Managing  Members  anticipate that 15% of such proceeds  will  be
applied  to cover organization and offering expenses if only  the
minimum  proceeds  are obtained and that 12.7% of  such  proceeds
will  be  applied  to such expenses if the maximum  proceeds  are
obtained.   To  the  extent organization  and  offering  expenses
actually incurred exceed 15% of proceeds, they are borne  by  the
Managing Members.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        Before the acquisition of all such properties, cash  flow
from  operating activities is not significant.  Net income, after
adjustment for depreciation, is lower during the first few  years
of  operations as administrative expenses remain high and a large
amount  of  the Company's assets remain invested on a  short-term
basis in lower-yielding cash equivalents.  Net income will become
the  largest component of cash flow from operating activities and
the  largest component of cash flow after the completion  of  the
acquisition phase.

        The  Operating Agreement requires that all proceeds  from
the  sale  of  Units be invested or committed  to  investment  in
properties  by  the  later of two years after  the  date  of  the
Prospectus or six months after termination of the offer and  sale
of  Units.  While the Company is purchasing properties, cash flow
from  investing  activities (investment in  real  property)  will
remain  negative  and will constitute the principal  use  of  the
Company's  available  cash flow.  Until capital  is  invested  in
properties, the Company will remain extremely liquid.

        On  November 1, 2001, the Company purchased a  Children's
World   daycare  center  in  Round  Lake  Beach,   Illinois   for
$1,748,149.   The  property  is  leased  to  ARAMARK  Educational
Resources, Inc. under a Lease Agreement with a primary term of 15
years and annual rental payments of $166,535.

        The property was purchased from AEI Fund Management XVII,
Inc.   (AFMX),  an  affiliate  of  the  Managing  Members.   AFMX
purchased the property from ARAMARK Educational Resources,  Inc.,
an  unrelated third party, on March 30, 2001.  The price paid  by
the Company was equal to the price paid by AFMX plus the expenses
incurred  to  transfer ownership of the property to the  Company.
There was no other benefit arising out of the transaction to  the
Managing  Members  or  their affiliates apart  from  compensation
otherwise permitted by the Operating Agreement.

       During the offering of Units, the Company's primary source
of  cash  flow  is  from  the sale of  LLC  Units.   The  Company
commenced  its  offering of LLC Units to  the  public  through  a
registration  statement which became effective May 18,  2001  and
will continue until May 17, 2002, subject to extension to May 17,
2003 if all 50,000 LLC Units are not sold before then.  From  May
18,  2001  to October 31, 2001, the minimum number of  LLC  Units
(1,500)  needed  to form the Company were sold.  On  October  31,
2001,  a  total of 1,922.964 Units ($1,922,964) were  transferred
into  the Company.  Through December 31, 2001, the Company raised
a  total  of  $3,522,154 from the sale of 3,522,154 Units.   From
subscription   proceeds,  the  Company  paid   organization   and
syndication  costs (which constitute a reduction of  capital)  of
$528,323.

        After  completion of the acquisition phase, the Company's
primary  use of cash flow is distribution and redemption payments
to   Members.    The  Company  declares  its  regular   quarterly
distributions  before  the  end of  each  quarter  and  pays  the
distribution in the first ten days after the end of each quarter.
The  Company attempts to maintain a stable distribution rate from
quarter to quarter.

        Beginning  in  2004, the Company may acquire  Units  from
Limited  Members  who have tendered their Units to  the  Company.
Such  Units may be acquired at a discount.  The Company will  not
be  obligated to purchase in any year any number of  Units  that,
when  aggregated  with all other transfers  of  Units  that  have
occurred since the beginning of the same calendar year (excluding
Permitted Transfers as defined in the Operating Agreement), would
exceed  2% of the total number of Units outstanding on January  1
of  such  year.   In no event shall the Company be  obligated  to
purchase Units if, in the sole discretion of the Managing Member,
such  purchase  would  impair the capital  or  operation  of  the
Company.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        Until capital is invested in properties, the Company will
remain   extremely   liquid.   After   completion   of   property
acquisitions, the Company will attempt to maintain a cash reserve
of  only  approximately  1%  of subscription  proceeds.   Because
properties  are  purchased for cash and leased  under  triple-net
leases,   this   is   considered   adequate   to   satisfy   most
contingencies.

Cautionary Statement for Purposes of the "Safe Harbor" Provisions
of the Private Securities Litigation Reform Act of 1995

         The   foregoing  Management's  Discussion  and  Analysis
contains various "forward looking statements" within the  meaning
of   federal   securities   laws  which  represent   management's
expectations  or  beliefs  concerning  future  events,  including
statements  regarding anticipated application of  cash,  expected
returns  from rental income, growth in revenue, taxation  levels,
the  sufficiency  of  cash to meet operating expenses,  rates  of
distribution,  and  other  matters.   These,  and  other  forward
looking statements made by the Company, must be evaluated in  the
context  of  a  number of factors that may affect  the  Company's
financial  condition  and  results of operations,  including  the
following:

         Market  and  economic conditions which affect the  value
         of  the  properties the Company owns and the cash  from
         rental income such properties generate;

         the  federal  income tax consequences of rental  income,
         deductions,  gain  on  sales and other  items  and  the
         affects of these consequences for investors;

         resolution  by  the Managing Members of  conflicts  with
         which they may be confronted;

         the   success   of  the  Managing  Member  of   locating
         properties with favorable risk return characteristics;

         the effect of tenant defaults; and

         the  condition of the industries in which the tenants of
         properties owned by the Company operate.

ITEM 7.   FINANCIAL STATEMENTS.

       See accompanying index to financial statements.





                 AEI INCOME & GROWTH FUND 24 LLC

                  INDEX TO FINANCIAL STATEMENTS






Report of Independent Auditors

Balance Sheet as of December 31, 2001 and 2000

Statements for the Year Ended December 31, 2001
 and for the Period From Inception (December 7,
 2000) to December 31, 2000:

     Income

     Cash Flows

     Changes in Members' Equity

Notes to Financial Statements





                 REPORT OF INDEPENDENT AUDITORS





To the Members:
AEI Income & Growth Fund 24 LLC
St. Paul, Minnesota





     We have audited the accompanying balance sheet of AEI Income
& Growth Fund 24 LLC (a Delaware limited liability company) as of
December 31, 2001 and 2000 and the related statements of  income,
cash  flows  and  changes in members' equity for the  year  ended
December 31, 2001 and for the period from inception (December  7,
2000)  to December 31, 2000.  These financial statements are  the
responsibility  of the Company's management.  Our  responsibility
is  to express an opinion on these financial statements based  on
our audits.

       We  conducted  our  audits  in  accordance  with  auditing
standards  generally accepted in the United  States  of  America.
Those  standards require that we plan and perform  the  audit  to
obtain   reasonable   assurance  about  whether   the   financial
statements are free of material misstatement.  An audit  includes
examining,  on a test basis, evidence supporting the amounts  and
disclosures in the financial statements.  An audit also  includes
assessing   the   accounting  principles  used  and   significant
estimates  made by management, as well as evaluating the  overall
financial  statement presentation.  We believe  that  our  audits
provide a reasonable basis for our opinion.

      In  our opinion, the financial statements referred to above
present  fairly, in all material respects, the financial position
of  AEI  Income & Growth Fund 24 LLC as of December 31, 2001  and
2000,  and  the results of its operations and its cash flows  for
the  year  ended  December  31, 2001  and  for  the  period  from
inception  (December 7, 2000) to December 31, 2000, in conformity
with  accounting  principles generally  accepted  in  the  United
States of America.




Minneapolis, Minnesota
January  23, 2002                  Boulay, Heutmaker, Zibell & Co. P.L.L.P.
                                   Certified Public Accountants


<PAGE>
                 AEI INCOME & GROWTH FUND 24 LLC

                          BALANCE SHEET

                           DECEMBER 31

                             ASSETS

                                                2001          2000

CURRENT ASSETS:
  Cash and Cash Equivalents                 $ 1,358,780    $     1,000

INVESTMENTS IN REAL ESTATE:
  Land                                          415,230              0
  Building and Equipment                      1,332,919              0
  Accumulated Depreciation                       (8,886)             0
                                             -----------    -----------
      Net Investments in Real Estate          1,739,263              0
                                             -----------    -----------
          Total Assets                      $ 3,098,043    $     1,000
                                             ===========    ===========


                 LIABILITIES AND MEMBERS' EQUITY

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.      $    84,172    $         0
  Distributions Payable                          15,813              0
                                             -----------    -----------
      Total Current Liabilities                  99,985              0
                                             -----------    -----------
MEMBERS' EQUITY:
  Managing Members' Equity                        1,037          1,000
  Limited Members' Equity, $1,000 Unit Value;
   50,000 Units authorized; 3,522 Units
   issued and outstanding in 2001             2,997,021              0
                                             -----------    -----------
    Total Members' Equity                     2,998,058          1,000
                                             -----------    -----------
       Total Liabilities and Members'Equity $ 3,098,043    $     1,000
                                             ===========    ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 24 LLC

                       STATEMENT OF INCOME

        FOR THE YEAR ENDED DECEMBER 31, 2001 AND FOR THE
  PERIOD FROM INCEPTION (DECEMBER 7, 2000) TO DECEMBER 31, 2000



                                                  2001           2000

INCOME:
   Rent                                       $    27,756    $         0
   Investment Income                                  732              0
   Miscellaneous Income                            21,525              0
                                               -----------    -----------
        Total Income                               50,013              0
                                               -----------    -----------

EXPENSES:
   LLC Administration - Affiliates                 21,365              0
   LLC Administration and Property
    Management - Unrelated Parties                    722              0
   Depreciation                                     8,886              0
                                               -----------    -----------
        Total Expenses                             30,973              0
                                               -----------    -----------

NET INCOME                                    $    19,040    $         0
                                               ===========    ===========

NET INCOME ALLOCATED:
   Managing Members                           $       571    $         0
   Limited Members                                 18,469              0
                                               -----------    -----------
                                              $    19,040    $         0
                                               ===========    ===========

NET INCOME PER LLC UNIT
 (2,165 weighted average Units
  outstanding in 2001)                        $      8.53    $         0
                                               ===========    ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 24 LLC

                     STATEMENT OF CASH FLOWS

        FOR THE YEAR ENDED DECEMBER 31, 2001 AND FOR THE
  PERIOD FROM INCEPTION (DECEMBER 7, 2000) TO DECEMBER 31, 2000


                                                    2001           2000

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net  Income                                  $    19,040    $         0

   Adjustments To Reconcile Net Income
   To Net Cash Provided By Operating Activities:
     Depreciation                                     8,886              0
     Increase in Payable to
        AEI Fund Management, Inc.                    84,172              0
                                                 -----------    -----------
             Total Adjustments                       93,058              0
                                                 -----------    -----------
        Net Cash Provided By
        Operating Activities                        112,098              0
                                                 -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
      Investments in Real Estate                 (1,748,149)             0
                                                 -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
   Capital Contributions from Managing Members            0          1,000
   Capital Contributions from Limited Members     3,522,154              0
   Organization and Syndication Costs              (528,323)             0
   Increase in Distributions Payable                 15,813              0
   Distributions to Members                         (15,813)             0
                                                 -----------    -----------
        Net Cash Provided By
        Financing Activities                      2,993,831          1,000
                                                 -----------    -----------
NET INCREASE IN CASH
   AND CASH EQUIVALENTS                           1,357,780          1,000

CASH AND CASH EQUIVALENTS, beginning of period        1,000              0
                                                 -----------    -----------
CASH AND CASH EQUIVALENTS, end of period        $ 1,358,780    $     1,000
                                                 ===========    ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 24 LLC

             STATEMENT OF CHANGES IN MEMBERS' EQUITY

        FOR THE YEAR ENDED DECEMBER 31, 2001 AND FOR THE
  PERIOD FROM INCEPTION (DECEMBER 7, 2000) TO DECEMBER 31, 2000


                                                                Limited
                                                                 Member
                             Managing    Limited                 Units
                             Members     Members     Total     Outstanding


BALANCE, December 7, 2000   $     0   $        0  $        0           0

  Capital Contributions       1,000            0       1,000
                             -------   ----------  ----------  ----------
BALANCE, December 31, 2000    1,000            0       1,000           0

  Capital Contributions           0    3,522,154   3,522,154    3,522.15

  Organization and
   Syndication Costs            (60)    (528,263)   (528,323)

  Distributions                (474)     (15,339)    (15,813)

  Net Income                    571       18,469      19,040
                             -------   ----------  ----------  ----------
BALANCE, December 31, 2001  $ 1,037   $2,997,021  $2,998,058    3,522.15
                             =======   ==========  ==========  ==========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(1)  Organization -

     AEI  Income  & Growth Fund 24 LLC (the Company),  a  Limited
     Liability Company, was formed on December 7, 2000 to acquire
     and  lease commercial properties to operating tenants.   The
     Company's operations are managed by AEI Fund Management XXI,
     Inc.  (AFM),  the Managing Member.  Robert P.  Johnson,  the
     President and sole shareholder of AFM, serves as the Special
     Managing   Member  and  an  affiliate  of  AFM,   AEI   Fund
     Management,  Inc.  (AEI), performs  the  administrative  and
     operating functions for the Company.

     The  terms of the offering call for a subscription price  of
     $1,000  per  LLC Unit, payable on acceptance of  the  offer.
     Under the terms of the Operating Agreement, 50,000 LLC Units
     are  available for subscription which, if fully  subscribed,
     will  result  in  contributed Limited  Members'  capital  of
     $50,000,000.   The Company commenced operations  on  October
     31,  2001  when  minimum subscriptions of  1,500  LLC  Units
     ($1,500,000) were accepted.  At December 31, 2001, 3,522.154
     Units  ($3,522,154)  were subscribed  and  accepted  by  the
     Company.   The Managing Members have contributed capital  of
     $1,000.  The Company shall continue until December 31, 2051,
     unless  dissolved, terminated and liquidated prior  to  that
     date.

     During operations, any Net Cash Flow, as defined, which  the
     Managing Members determine to distribute will be distributed
     97%  to  the Limited Members and 3% to the Managing Members.
     Distributions to Limited Members will be made  pro  rata  by
     Units.

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of properties which the Managing Members determine
     to distribute will, after provisions for debts and reserves,
     be  paid  in  the following manner: (i) first,  99%  to  the
     Limited  Members  and 1% to the Managing Members  until  the
     Limited  Members  receive  an amount  equal  to:  (a)  their
     Adjusted Capital Contribution plus (b) an amount equal to 7%
     of their Adjusted Capital Contribution per annum, cumulative
     but not compounded, to the extent not previously distributed
     from  Net  Cash  Flow; (ii) any remaining  balance  will  be
     distributed  90%  to  the Limited Members  and  10%  to  the
     Managing Members.  Distributions to the Limited Members will
     be made pro rata by Units.

     For  tax  purposes,  profits  from  operations,  other  than
     profits  attributable  to  the  sale,  exchange,  financing,
     refinancing or other disposition of the Company's  property,
     will  be allocated 97% to the Limited Members and 3% to  the
     Managing  Members.   Net  losses  from  operations  will  be
     allocated 99% to the Limited Members and 1% to the  Managing
     Members.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(1)  Organization - (Continued)

     For  tax purposes, profits arising from the sale, financing,
     or  other  disposition  of property  will  be  allocated  in
     accordance  with  the Operating Agreement  as  follows:  (i)
     first,  to  those  Members with deficit  balances  in  their
     capital  accounts  in an amount equal to  the  sum  of  such
     deficit  balances; (ii) second, 99% to the  Limited  Members
     and  1%  to the Managing Members until the aggregate balance
     in  the Limited Members' capital accounts equals the sum  of
     the Limited Members' Adjusted Capital Contributions plus  an
     amount  equal  to 7% of their Adjusted Capital Contributions
     per  annum, cumulative but not compounded, to the extent not
     previously  allocated;  (iii)  third,  the  balance  of  any
     remaining  gain  will then be allocated 90% to  the  Limited
     Members  and  10% to the Managing Members.  Losses  will  be
     allocated 99% to the Limited Members and 1% to the  Managing
     Members.

     The  Managing Members are not required to currently  fund  a
     deficit capital balance.  Upon liquidation of the Company or
     withdrawal  by a Managing Member, the Managing Members  will
     contribute to the Company an amount equal to the  lesser  of
     the  deficit balances in their capital accounts or 1.01%  of
     the  total capital contributions of the Limited Members over
     the amount previously contributed by the Managing Members.

(2)  Summary of Significant Accounting Policies -

     Financial Statement Presentation

      The  accounts of the Company are maintained on the  accrual
      basis  of  accounting for both federal income tax  purposes
      and financial reporting purposes.

     Accounting Estimates

      Management  uses  estimates and  assumptions  in  preparing
      these  financial  statements in accordance  with  generally
      accepted   accounting  principles.   Those  estimates   and
      assumptions may affect the reported amounts of  assets  and
      liabilities,  the  disclosure  of  contingent  assets   and
      liabilities,  and  the  reported  revenues  and   expenses.
      Actual results could differ from those estimates.

      The  Company regularly assesses whether market  events  and
      conditions  indicate  that  it is  reasonably  possible  to
      recover  the  carrying amounts of its investments  in  real
      estate  from  future  operations and sales.   A  change  in
      those  market events and conditions could have  a  material
      effect on the carrying amount of its real estate.

     Cash Concentrations of Credit Risk

      The  Company's cash is deposited primarily in one financial
      institution  and  at times during the year  it  may  exceed
      FDIC insurance limits.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(2)  Summary of Significant Accounting Policies - (Continued)

     Statement of Cash Flows

      For  purposes  of  reporting  cash  flows,  cash  and  cash
      equivalents may include cash in checking, cash invested  in
      money  market  accounts, certificates of  deposit,  federal
      agency  notes  and commercial paper with a  term  of  three
      months or less.

     Income Taxes

      The  income  or loss of the Company for federal income  tax
      reporting purposes is includable in the income tax  returns
      of  the  Members.   Accordingly, no  recognition  has  been
      given   to  income  taxes  in  the  accompanying  financial
      statements.

      The  tax  return, the qualification of the Company as  such
      for  tax  purposes,  and the amount  of  distributable  LLC
      income  or  loss are subject to examination by federal  and
      state  taxing authorities.  If such an examination  results
      in  changes with respect to the Company qualification or in
      changes  to  distributable LLC income or loss, the  taxable
      income of the members would be adjusted accordingly.

     Real Estate

      The  Company's  real  estate is or  will  be  leased  under
      triple  net  leases  classified as operating  leases.   The
      Company  recognizes  rental revenue on  the  accrual  basis
      according  to  the  terms  of the individual  leases.   For
      leases  which  contain rental increases based  on  cost  of
      living increases, the increases are recognized in the  year
      in which they are effective.

      Real  estate is recorded at the lower of cost or  estimated
      net  realizable value.  The Company compares  the  carrying
      amount  of  its  properties to the  estimated  future  cash
      flows  expected  to  result  from  the  property  and   its
      eventual  disposition.  If the sum of the  expected  future
      cash  flows  is  less  than  the  carrying  amount  of  the
      property, the Company recognizes an impairment loss by  the
      amount  by  which  the  carrying  amount  of  the  property
      exceeds the fair value of the property.

      The  Company has capitalized as Investments in Real  Estate
      certain  costs  incurred in the review and  acquisition  of
      the  properties.   The costs were allocated  to  the  land,
      buildings and equipment.

      The  building and equipment of the Company are  depreciated
      using  the  straight-line  method for  financial  reporting
      purposes based on estimated useful lives of 25 years and  5
      years, respectively.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(2)  Summary of Significant Accounting Policies - (Continued)

     Newly Issued Pronouncements

      The   Financial  Accounting  Standards  Board  has   issued
      Statement  of  Financial  Accounting  Standards  No.   143,
      Accounting for Asset Retirement Obligations (SFAS 143)  and
      Statement  of  Financial  Accounting  Standards  No.   144,
      Accounting  for  the Impairment or Disposal  of  Long-Lived
      Assets  (SFAS  144).  SFAS 143 will be  applicable  to  the
      Company  in  the  year ended December 31, 2003.   SFAS  144
      will  be  applicable  to  the Company  in  the  year  ended
      December 31, 2002.  Management is currently evaluating  the
      impact   of   SFAS  143  and  SFAS  144  on  its  financial
      statements.

(3)  Related Party Transactions -

     On  November  1,  2001, the Company purchased  a  Children's
     World  daycare  center  in Round Lake  Beach,  Illinois  for
     $1,748,149.   The  property  was  purchased  from  AEI  Fund
     Management  XVII, Inc. (AFMX), an affiliate of the  Managing
     Members.    AFMX   purchased  the  property   from   ARAMARK
     Educational  Resources, Inc., an unrelated third  party,  on
     March  30, 2001. The price paid by the Company was equal  to
     the  price  paid  by  AFMX  plus the  expenses  incurred  to
     transfer  ownership of the property to the Company.   During
     the  period  the  property was owned by AFMX,  the  property
     generated net income of $21,525, which was also paid to  the
     Company.   There  was no other benefit arising  out  of  the
     transaction  to  the  Managing Members or  their  affiliates
     apart from compensation otherwise permitted by the Operating
     Agreement.

     AEI,  AFM  and  AEI  Securities,  Inc.  (ASI)  received  the
     following  compensation  and reimbursements  for  costs  and
     expenses from the Company:

                                      Total Incurred by the Company
                                      for the Year Ended December 31

                                                        2001
a.AEI and AFM are reimbursed for all costs
  incurred in connection with managing the
  Company's operations, maintaining the
  Company's books and communicating
  the results of operations to the Limited
  Members.                                          $  21,365
                                                     ========
b.AEI and AFM are reimbursed for all direct
  expenses they have paid on the Company's
  behalf to third parties relating to LLC
  administration and property management.
  These expenses included printing costs, legal
  and filing fees, direct administrative costs,
  outside audit and accounting costs, taxes,
  insurance and other property costs.               $     722
                                                     ========



                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(3)  Related Party Transactions - (Continued)

                                      Total Incurred by the Company
                                      for the Year Ended December 31

                                                        2001
c.AEI is reimbursed for all costs and direct
  expenses incurred by it in acquiring properties
  on behalf of the Company.                         $   5,924
                                                     ========
d.ASI was the underwriter of the Company's offering.
  Robert P. Johnson is the sole stockholder of ASI,
  which is a member of the National Association of
  Securities Dealers, Inc.  ASI received, as
  underwriting commissions 10% for sale of certain
  subscription Units (a majority of this amount was
  re-allowed to other participating broker/dealers).
  These costs are treated as a reduction of members'
  capital.                                          $ 352,215
                                                     ========
e.AEI is reimbursed for all costs incurred in
  connection with managing the Company's
  offering and organization.                        $  61,599
                                                     ========
f.AEI is reimbursed for all direct expenses it
  has paid on the Company's behalf to third parties
  relating to the offering and organization of
  the Company.  These expenses included printing
  costs, legal and filing fees, direct administrative
  costs, underwriting costs and due diligence fees. $ 114,509
                                                     ========

     The  payable  to  AEI Fund Management, Inc.  represents  the
     balance due for the services described in 3a, b, c,  e,  and
     f.   This balance is non-interest bearing and unsecured  and
     is to be paid in the normal course of business.

(4)  Investments in Real Estate -

     The  Company leases its property through a triple net lease,
     which  is classified as an operating lease.  Under a  triple
     net  lease,  the lessee is responsible for all  real  estate
     taxes,   insurance,  maintenance,  repairs   and   operating
     expenses  of  the property.  The initial Lease  term  is  15
     years.   The Lease contains renewal options which may extend
     the  Lease term an additional 15 years.  The Lease  contains
     rent clauses which entitle the Company to receive additional
     rent in future years based on stated rent increases.

     The   Company's  property  is  a  commercial,  single-tenant
     building  and was constructed in 2000 and acquired in  2001.
     There   have  been  no  costs  capitalized  as  improvements
     subsequent to the acquisition.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(4)  Investments in Real Estate - (Continued)

     The   cost   of   the   property  and  related   accumulated
     depreciation at December 31, 2001 are as follows:

                                 Building and             Accumulated
Property                  Land     Equipment    Total     Depreciation

Children's World,
  Round Lake Beach, IL  $415,230  $1,332,919  $1,748,149  $  8,886


     On  November  1,  2001, the Company purchased  a  Children's
     World  daycare  center  in Round Lake  Beach,  Illinois  for
     $1,748,149.   The property is leased to ARAMARK  Educational
     Resources, Inc. under a Lease Agreement with a primary  term
     of 15 years and annual rental payments of $166,535.

     The minimum future rentals on the Lease for years subsequent
     to December 31, 2001 are as follows:

                       2002          $   166,535
                       2003              166,535
                       2004              166,535
                       2005              166,535
                       2006              166,535
                       Thereafter      1,540,449
                                      -----------
                                     $ 2,373,124
                                      ===========

     There were no contingent rents recognized in 2001.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(5)  Major Tenants -

     The following schedule presents rent revenue from individual
     tenants, or affiliated groups of tenants, who each
     contributed more than ten percent of the Company's total
     rent revenue for the year ended December 31:

                                                   2001
      Tenants           Industry

     ARAMARK Educational
        Resources, Inc.  Child Care             $  27,756
                                                 ---------

     Aggregate rent revenue of major tenants    $  27,756
                                                 =========

     Aggregate rent revenue of major tenants as
     a percentage of total rent revenue               100%
                                                 =========

(6)  Miscellaneous Income -

     The  Company purchased a Children's World daycare center  in
     Round Lake Beach, Illinois from an affiliate of the Managing
     Members.   During the period the property was owned  by  the
     affiliate,  the  property generated net income  of  $21,525.
     Pursuant to the Operating Agreement, this amount was paid to
     the  Company  and is shown as Miscellaneous  Income  on  the
     Income Statement.

(7)  Members' Capital -

     Cash distributions of $474 were made to the Managing Members
     and  $15,339 were made to the Limited Members for  the  year
     ended December 31, 2001.  The Limited Members' distributions
     represent  $7.08  per  LLC  Unit  outstanding  using   2,165
     weighted average Units in 2001.  The distributions represent
     Net Income.

     Beginning in September, 2004, the Company may acquire  Units
     from  Limited Members who have tendered their Units  to  the
     Company.   Such  Units may be acquired at a  discount.   The
     Company  will not be obligated to purchase in any  year  any
     number  of  Units  that,  when  aggregated  with  all  other
     transfers of Units that have occurred since the beginning of
     the  same  calendar year (excluding Permitted  Transfers  as
     defined in the Operating Agreement), would exceed 2% of  the
     total number of Units outstanding on January 1 of such year.
     In no event shall the Company be obligated to purchase Units
     if,  in  the  sole discretion of the Managing Members,  such
     purchase  would  impair  the capital  or  operation  of  the
     Company.


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(8)  Income Taxes -

     The   following  is  a  reconciliation  of  net  income  for
     financial reporting purposes to income reported for  federal
     income tax purposes for the year ended December 31:

                                                        2001

     Net Income for Financial
      Reporting Purposes                             $  19,040

     Depreciation for Tax Purposes
      Under Depreciation for Financial
      Reporting Purposes                                 4,625

     Capitalized Start-Up Costs
      Under Section 195                                  8,698

     Amortization of Start-Up and
      Organization Costs                                  (490)
                                                      ---------

           Taxable Income to Members                 $  31,873
                                                      =========


                 AEI INCOME & GROWTH FUND 24 LLC

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2001 AND 2000

(8)  Income Taxes - (Continued)

     The  following  is a reconciliation of Members'  Equity  for
     financial reporting purposes to Members' Equity reported for
     federal income tax purposes for the year ended December 31:

                                                        2001

     Members' Equity for
      Financial Reporting Purposes                   $2,998,058

     Depreciation for Tax Purposes
      Under Depreciation for Financial
      Reporting Purposes                                  4,625

     Capitalized Start-Up Costs
      Under Section 195                                   8,698

     Amortization of Start-Up and
      Organization Costs                                   (490)

     Organization and Syndication Costs
      Treated as Reduction of Capital
      for Financial Reporting Purposes                  528,133
                                                      ----------

           Members' Equity for
              Tax Reporting Purposes                 $3,539,024
                                                      ==========

(9)  Fair Value of Financial Instruments -

     The estimated fair values of the financial instruments, none
     of  which  are held for trading purposes, are as follows  at
     December 31:

                                  2001                   2000
                         Carrying      Fair     Carrying      Fair
                          Amount       Value     Amount       Value

     Money Market Funds $1,358,780  $1,358,780   $1,000      $1,000
                         ----------  ----------   ------      ------
      Total Cash and
       Cash Equivalents $1,358,780  $1,358,780   $1,000      $1,000
                         ==========  ==========   ======      ======



ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
          ACCOUNTING AND FINANCIAL DISCLOSURE.

       None.


                            PART III

ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
          PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

        The registrant is a limited liability company and has  no
officers,  directors, or direct employees.  The Managing  Members
of  the  registrant are Robert P. Johnson and AFM.  The  Managing
Members manage and control the Company's affairs and have general
responsibility  and  the  ultimate  authority  in   all   matters
affecting  the Company's business.  The director and officers  of
AFM are as follows:

        Robert  P.  Johnson, age 57, is Chief Executive  Officer,
President  and  Director and has held these positions  since  the
formation  of  AFM  in  August, 1994, and  has  been  elected  to
continue in these positions until December, 2002.  From  1970  to
the  present, he had been employed exclusively in the  investment
industry,  specializing  in  tax-advantaged  limited  partnership
investments.   In  that  capacity, he has been  involved  in  the
development,  analysis, marketing and management  of  public  and
private investment programs investing in net lease properties  as
well  as  public  and  private investment programs  investing  in
energy  development.   Since  1971,  Mr.  Johnson  has  been  the
president,  a  director  and  a  registered  principal   of   AEI
Securities,  Inc.,  which is registered with the  Securities  and
Exchange Commission as a securities broker-dealer, is a member of
the  National Association of Securities Dealers, Inc. (NASD)  and
is  a  member  of  the Security Investors Protection  Corporation
(SIPC).   Mr.  Johnson has been president,  a  director  and  the
principal shareholder of AEI Fund Management, Inc., a real estate
management  company founded by him, since 1978.  Mr.  Johnson  is
currently  a general partner or principal of the general  partner
in  thirteen  limited partnerships and a managing member  in  two
LLCs.

        Mark  E.  Larson,  age 49, is Executive  Vice  President,
Secretary,  Treasurer and Chief Financial Officer  and  has  held
these  positions since the formation of AFM in August, 1994,  and
has  been  elected to continue in these positions until December,
2002.  Mr. Larson has been employed by AEI Fund Management,  Inc.
and  affiliated  entities since 1985.  From  1979  to  1985,  Mr.
Larson   was  with  Apache  Corporation  as  manager  of  Program
Accounting  responsible  for  the  accounting  and  reports   for
approximately 46 public partnerships.  Mr. Larson is  responsible
for   supervising  the  accounting  functions  of  AFM  and   the
registrant.

ITEM 10.  EXECUTIVE COMPENSATION.

        The Managing Member and affiliates are reimbursed at cost
for  all  services performed on behalf of the registrant and  for
all  third party expenses paid on behalf of the registrant.   The
cost for services performed on behalf of the registrant is actual
time  spent  performing such services plus  an  overhead  burden.
These  services include organizing the registrant  and  arranging
for  the  offer  and  sale  of Units,  reviewing  properties  for
acquisition and rendering administrative and management services.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
          MANAGEMENT.

        The following table sets forth information pertaining  to
the ownership of the Units by each person known by the Company to
beneficially  own  5%  or  more of the Units,  by  each  Managing
Member, and by each officer or director of the Managing Member as
of February 28, 2002:

     Name and Address                   Number of     Percent
   of Beneficial Owner                  Units Held    of Class

   Constance J. Smith                      500           8.4%
   P O Box 2474
   Daphne, Alabama 36526

   The Bach Family Trust                   300           5.0%
   Debra Harlan TTEE
   185 Honey Bell
   Orange, Ohio 44022

   AEI Fund Management XXI, Inc.            0            0%
   1300 Minnesota World Trade Center
   30 East 7th Street
   St. Paul, Minnesota 55101

   Robert P. Johnson                        0            0%
   1300 Minnesota World Trade Center
   30 East 7th Street
   St. Paul, Minnesota 55101

   Mark E. Larson                           0            0%
   1300 Minnesota World Trade Center
   30 East 7th Street
   St. Paul, Minnesota 55101

The  persons  set forth in the preceding table hold  sole  voting
power  and power of disposition with respect to all of the  Units
set forth opposite their names.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

        The  registrant,  AFM  and  its  affiliates  have  common
management and utilize the same facilities.  As a result, certain
administrative  expenses  are  allocated  among   these   related
entities.   All  of  such activities and any  other  transactions
involving the affiliates of the Managing Member of the registrant
are  governed  by,  and  are conducted in  conformity  with,  the
limitations  set  forth  in  the  Operating  Agreement   of   the
registrant.

ITEM 12.  CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS.
          (Continued)

        The following table sets forth the forms of compensation,
distributions  and cost reimbursements paid by the registrant  to
the  Managing Members or their Affiliates in connection with  the
operation  of  the Fund and its properties for  the  period  from
inception through December 31, 2001.

Person or Entity                                  Amount Incurred From
  Receiving               Form and Method      Inception (December 7, 2000)
 Compensation             of Compensation         To December 31, 2001

AEI Securities, Inc.  Selling Commissions equal to          $352,215
                      10% of proceeds, most of which
                      were reallowed to Participating
                      Dealers.

Managing Members      Reimbursement at Cost for other       $176,108
and Affiliates        Organization and Offering Costs.

Managing Members      Reimbursement at Cost for all         $  5,924
and Affiliates        Acquisition Expenses

Managing Members      Reimbursement at Cost for all         $ 21,365
and Affiliates        Administrative Expenses attributable
                      to the Fund, including all expenses
                      related to management of the Fund's
                      properties and all other transfer
                      agency, reporting, Member relations
                      and other administrative functions.

Managing Members      Reimbursement at Cost for all         $      0
and Affiliates        expenses related to the disposition
                      of the Fund's properties.

Managing Members      3% of Net Cash Flow in any fiscal     $    474
                      year.

Managing Members      1% of distributions of Net Proceeds   $      0
                      of Sale until Limited Members have
                      received an amount equal to (a) their
                      Adjusted Capital Contributions, plus
                      (b) an amount equal to 7% of their
                      Adjusted Capital Contributions per
                      annum, cumulative but not compounded,
                      to the extent not previously
                      distributed.   10%  of  distributions
                      of Net Proceeds of Sale thereafter.

        The  limitations  included  in  the  Operating  Agreement
require  that  the  cumulative  reimbursements  to  the  Managing
Members  and  their  affiliates for administrative  expenses  not
allowed under the NASAA Guidelines ("Guidelines") will not exceed
the  sum of (i) the front-end fees allowed by the Guidelines less
the  front-end fees paid, (ii) the cumulative property management
fees  allowed  but  not  paid, (iii) any real  estate  commission
allowed under the Guidelines, and (iv) 10% of Net Cash Flow  less
the  Net Cash Flow actually distributed.  The reimbursements  not
allowed  under  the  Guidelines include  a  controlling  person's
salary  and  fringe  benefits,  rent  and  depreciation.   As  of
December  31, 2001, the cumulative reimbursements to the Managing
Members and their affiliates did not exceed these amounts.


                             PART IV

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K AND 8-K/A.

         A. Exhibits -
                              Description

         3.1  Certificate of Limited Liability Company (incorporated
              by  reference  to  Exhibit  3.1  of  the  registrant's
              Registration  Statement on Form SB-2 filed on December
              29, 2000 [File No. 333-52960]).

         3.2  Operating Agreement to the Prospectus (incorporated by
              reference   to   Exhibit   A   of  the    registrant's
              Registration Statement on Form 424B3 filed on June 18,
              2001  [File  No. 333-52960]).

        10.1  Form  of  Impoundment  Agreement  with  Fidelity  Bank
              (incorporated  by reference to Exhibit 10 of Amendment
               No. 2 of the  registrant's Registration Statement  on
               Form  SB-2 filed on April 12, 2001[File No. 333-52960]).

        10.2  Net  Lease Agreement dated March 30, 2001 between  AEI
              Fund Management XVII, Inc. and   ARAMARK   Educational
              Resources, Inc. relating to the property at 1512 North
              Route  83, Round Lake Beach, Illinois (incorporated by
              reference  to  Exhibit 10.1 of Form 8-K filed November
              13, 2001).

        10.3  Quit  Claim  Deed dated November 1, 2001  between  the
              Company and AEI Fund Management XVII, Inc. relating to
              the property at 1512 North Route 83, Round Lake Beach,
              Illinois (incorporated by reference to Exhibit 10.2 of
              Form  8-K filed November 13, 2001).

         B.   Reports on Form 8-K -
              During the quarter ended December 31,2001,
              the   Company  filed  a  Form   8-K, dated
              November    13,   2001,   reporting    the
              acquisition   of   a   Children's    World
              daycare  center  in  Round   Lake   Beach,
              Illinois.


                           SIGNATURES

       Pursuant to the requirements of Section 13 or 15(d) 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.

                           AEI INCOME & GROWTH FUND 24
                           Limited Liability Company
                           By: AEI Fund Management XXI, Inc.
                           Its Managing Member



March 6, 2002              By:/s/ Robert P. Johnson
                                  Robert P. Johnson, President and
                                  Director (Principal Executive Officer)


        Pursuant  to the requirements of the Securities  Exchange
Act  of  1934, this report has been signed below by the following
persons on behalf of the Registrant and in the capacities and  on
the dates indicated.

 Name                             Title                             Date


/s/ Robert P. Johnson  President (Principal Executive Officer)  March 6, 2002
    Robert P. Johnson  and Sole Director of Managing Member

/s/ Mark E. Larson     Executive Vice President, Treasurer      March 6, 2002
    Mark E. Larson     and Chief Financial Officer
                       (Principal Accounting Officer)