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

                                   FORM 10-QSB

[X]                    QUARTERLY REPORT UNDER SECTION 13
                OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

                 For the quarterly period ended March 31, 2001

[ ]                   TRANSITION REPORT UNDER SECTION 13
                OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the transition period from _____________ to _______________

                        Commission File Number 0-17602
--------------------------------------------------------------------------------


                     ChrisKen Partners Cash Income Fund L.P.
--------------------------------------------------------------------------------
            (Exact name of small business issuer as Specified in its
                       certificate of Limited partnership)

           DELAWARE                                    36-3521124
---------------------------------         ------------------------------------
(State or other jurisdiction of                    (I.R.S. Employer
 incorporation or organization)                 Identification Number)


345 North Canal Street, Chicago, Illinois                      60606
------------------------------------------------------------------------------
(Address of principal executive offices)               (Zip Code)


(312) 454-1626
------------------------------------------------------------------------------
(Issuer's telephone number)


------------------------------------------------------------------------------
              (Former name, former address and formal fiscal year,
                         if changed since last report)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Securities  Exchange  Act  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
         ---        ---
<PAGE>

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                     ---------------------------------------

                                      INDEX

                                                                          PAGE
                                                                          ----
PART I           FINANCIAL INFORMATION
                 ---------------------

     Item 1.     Consolidated Financial Statements (UNAUDITED)

                 Condensed Consolidated Balance Sheet at
                 March 31, 2001                                              2

                 Condensed Consolidated Statements of Income
                 for the Three Months Ended
                 March 31, 2001 and 2000                                     3

                 Condensed Consolidated Statement of Partners'
                 Capital for the Three Months Ended
                 March 31, 2001                                              4

                 Condensed Consolidated Statements of Cash Flows for
                 the Three Months Ended March 31, 2001
                 and 2000                                                    5

                 Notes to Condensed Consolidated Financial Statements        6

     Item 2.     Management's Discussion and Analysis or
                 Plan of Operation                                           8

PART II.         OTHER INFORMATION
                 -----------------

     Item 1.     Legal Proceedings                                           12

     Item 2.     Changes in Securities and Use of Proceeds                   12

     Item 3.     Defaults Upon Senior Securities                             12

     Item 4.     Submissions of Matters to a Vote of
                 Security Holders                                            12

     Item 5.     Other Information                                           12

     Item 6.     Exhibits and Reports on Form 8-K                            12

SIGNATURE                                                                    13

<PAGE>

                                     PART I

ITEM 1.  CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)


                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                      CONDENSED CONSOLIDATED BALANCE SHEET

                                 MARCH 31, 2001
                                   (UNAUDITED)



ASSETS
Cash and cash equivalents                                    $     218,106
Restricted cash                                                    377,320
Accounts receivable                                                 79,370
Prepaid expenses                                                    40,618
                                                          ----------------
                                                                   715,414
Investment in real estate, at cost:
   Land                                                          2,275,190
   Buildings and improvements                                   10,908,203
   Equipment                                                       515,826
                                                          ----------------
                                                                13,699,219
   Accumulated depreciation                                     (3,285,079)
                                                          ----------------
                                                                10,414,140
                                                          ----------------
Total assets                                                   $11,129,554
                                                          ================

LIABILITIES AND PARTNERS' CAPITAL
Accounts payable                                            $       92,241
Tenants' security deposits                                          99,891
Deferred income and prepaid rent                                   136,283
Accrued real estate taxes                                          211,303
                                                          ----------------
Total liabilities                                                  539,718

Partners' capital, 35,977 limited partnership
 units issued and outstanding                                   10,589,836
                                                          ----------------
 Total liabilities and partners' capital                       $11,129,554
                                                          ================

SEE ACCOMPANYING NOTES.

<PAGE>

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                   (UNAUDITED)



                                                     THREE MONTHS ENDED
                                                          MARCH 31
                                                    2001            2000
                                                  ------------------------

REVENUE
Rental                                            $ 698,980      $ 702,851
Interest                                             11,222         11,817
Other                                                35,617         35,870
                                                  ------------------------
Total revenue                                       745,819        750,538

EXPENSES
Property operations                                 198,155        128,563
Depreciation                                        141,691        132,443
General and administrative                          192,081        211,892
Management fees - Affiliate                          42,130         40,620
                                                  ------------------------
Total expenses                                      574,057        513,518
                                                  ------------------------
Net income                                        $ 171,762      $ 237,020
                                                  ========================
Net income allocated to general partners          $  17,176      $  23,702
                                                  ========================
Net income allocated to limited partners          $ 154,586      $ 213,318
                                                  ========================
Net income  allocated to limited  partners
 per limited  partnership  unit outstanding            4.30      $    5.93
                                                  ========================
Limited partnership units outstanding                35,977         35,977
                                                  ========================

SEE ACCOMPANYING NOTES.

<PAGE>

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

              CONDENSED CONSOLIDATED STATEMENT OF PARTNERS' CAPITAL

                        THREE MONTHS ENDED MARCH 31, 2001
                                   (UNAUDITED)



                                           PARTNERS' CAPITAL ACCOUNTS
                                   ----------------------------------------
                                    GENERAL         LIMITED
                                    PARTNERS        PARTNERS       TOTAL
                                   ----------------------------------------

Balance at January 1, 2001         $474,137      $10,498,866    $10,973,003
Distributions (A)                  (139,865)        (415,064)      (554,929)
Net income                           17,176          154,586        171,762
                                   ----------------------------------------
 Balance at March 31, 2001         $351,448      $10,238,388    $10,589,836
                                   ========================================

(A) Summary of 2001 quarterly cash distributions paid per limited partnership
unit:

First quarter           $11.54

SEE ACCOMPANYING NOTES.

<PAGE>


                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)



                                                          THREE MONTHS ENDED
                                                               MARCH 31
                                                          2001           2000
                                                      --------------------------

CASH FLOWS FROM OPERATING ACTIVITIES
Net income                                               $171,762      $237,020
Adjustments to reconcile net income to net cash
  flows provided by operating activities:
     Depreciation                                         141,691       132,443
     Net changes in operating assets and liabilities:
       Increase in accounts receivable                     (6,152)       (8,801)
         (Increase) decrease in other assets              (12,578)          469
       Decrease in accounts payable and accrued expenses  (88,793)     (102,352)
       Decrease in deferred income and prepaid rent            (9)      (22,156)
       Decrease in tenants' security deposits              (1,002)       (3,966)
                                                         -----------------------
Net cash flows provided by operating activities           204,919       232,657

CASH FLOWS FROM INVESTING ACTIVITIES
Additions to investment in real estate                    (39,500)      (41,805)
                                                         -----------------------
Cash flows used in investing activities                   (39,500)      (41,805)

CASH FLOWS FROM FINANCING ACTIVITIES
Distributions                                            (554,929)     (569,110)
                                                         -----------------------
Cash Flows Used in Financing Activities                  (554,929)     (569,110)
                                                         -----------------------
Net decrease in cash and cash equivalents                (389,510)     (378,258)
Cash and cash equivalents, beginning of period            607,616       708,616
                                                         -----------------------
Cash and cash equivalents, end of period                 $218,106      $330,358
                                                         =======================

SEE ACCOMPANYING NOTES.

<PAGE>

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)


1.  INTERIM ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated financial statements have been
prepared in accordance  with  accounting  principles  generally  accepted in the
United States for interim  financial  information  and with the  instructions to
Form 10-QSB and 310(b) of Regulation S-B.  Accordingly,  they do not include all
of the information  and footnotes  required by accounting  principles  generally
accepted  in  the  United  States  for  complete   financial   statements.   The
consolidated financial statements are the representation of the General Partners
and reflect all adjustments  which are, in the opinion of the General  Partners,
necessary  for a fair  presentation  of the  financial  position  and results of
operations  of the  Partnership.  The  General  Partners  believe  that all such
adjustments  are normal and  recurring.  For further  information,  refer to the
consolidated  financial  statements  and notes thereto  included in the Chrisken
Partners  Cash  Income Fund L.P.'s  (the  "Partnership")  Annual  Report on Form
10-KSB for the year ended December 31, 2000.

2.  SEGMENT INFORMATION

                                              THREE MONTHS ENDED
                                   MARCH 31, 2001            MARCH 31, 2000
                              --------------------------------------------------
                              RESIDENTIAL      SELF     RESIDENTIAL      SELF
                               APARTMENT     STORAGE    APARTMENT      STORAGE
                                COMPLEX      FACILITY    COMPLEX      FACILITY
                              --------------------------------------------------

Property operating revenues   $ 409,303     $326,883     $421,389    $ 320,188
Operating income                 88,528       91,271      160,041      113,656
Total assets                  6,242,830    4,495,105    6,401,928    4,694,136

<PAGE>

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (UNAUDITED)



2.  SEGMENT INFORMATION (CONTINUED)

A reconciliation of combined operating income for the residential apartment
complex segment and the self storage facility segment to net income is as
follows:

                                                      THREE MONTHS ENDED
                                                           MARCH 31
                                                      2001          2000
                                                    ------------------------

Total operating income for reportable segments       $179,799      $273,697
General and administrative expense                    (17,670)      (45,638)
Interest income                                         9,633         8,961
                                                    ------------------------
Net income                                           $171,762      $237,020
                                                    ========================

3.  CONTINGENCY

In the course of repairing  the damage  caused by a fire at one of the apartment
units at Springdale  Apartments,  a structural defect in the construction of the
fire-damaged  unit was  discovered.  The Managing  General Partner does not know
whether  the  structural  defect is unique to the  fire-damaged  unit or whether
similar structural defects exist in other units. The Managing General Partner is
currently in the process of determining what testing and remediation, if any, is
appropriate.  Although  the Managing  General  Partner does not believe that the
cost of  remediation  of the structure  defect found in the one  apartment  unit
would be material, if structural defects similar to the defect discovered in the
fire-damaged unit exist in other units at Springdale Apartments and if extensive
remediation of such defects is necessary it could have a material adverse impact
on the Partnership's financial condition.
<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

     ChrisKen Partners Cash Income Fund L.P. ("CPCIF" or the "Partnership") is a
Delaware  limited  partnership  organized on May 4, 1987,  with ChrisKen  Income
Properties,   Inc.  (the  "Managing   General  Partner")  and  ChrisKen  Limited
Partnership  I  as  General  Partners.   Pursuant  to  a  public  offering  (the
"Offering"),  CPCIF sold 37,732  limited  partnership  units (the "Units" or the
"Limited Partnership Units").  CPCIF has 99.9% ownership interests in Springdale
Associates Limited Partnership and Chicago I Self-Storage  Limited  Partnership.
Springdale  Associates Limited  Partnership owns a 199-unit  residential complex
located  in  Waukesha,  Wisconsin  ("Springdale  Apartments"),   and  Chicago  I
Self-Storage  Limited  Partnership  owns  a  155,997  square  foot  self-storage
facility located in Chicago, Illinois ("Gold Coast Storage").

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

     The Partnership  had cash and cash  equivalents of $218,106 and $607,616 as
of March 31, 2001,  and December 31, 2000,  respectively.  The reduction in cash
and cash equivalents is primarily due to additions to investment in real estate,
increased  accounts  receivable,  reductions  in accrued  real estate  taxes and
distributions in excess of net cash provided by operating activities,  partially
offset by an increase in accounts payable.  Restricted cash represents operating
and contingency  reserves (the "Reserve") equal to approximately 2% of the gross
proceeds of the Offering  ($377,320 at March 31, 2001, and December 31, 2000) as
required by the Limited  Partnership  Agreement.  The Reserve is  available  for
unanticipated  contingencies and repairs at Springdale Apartments and Gold Coast
Storage  (collectively  the "Specified  Properties").  The Partnership holds the
Specified Properties described above on an unencumbered or all cash basis.

     On March 31, 2000, a number of  affiliates  of MacKenzie  Patterson,  Inc.,
which are not affiliated with the Partnership or its General Partners, submitted
an unsolicited tender offer to the Partnership's Limited Partners to purchase up
to 5,542, or approximately 15%, of the outstanding  Limited Partnership Units of
the Partnership at $285 per Unit. The MacKenzie Patterson, Inc. offer, which was
to expire on May 5, 2000,  was extended to May 15, 2000, and the offer price was
increased  to $301.  On April 11,  2000,  the General  Partners  filed a neutral
position  response to the MacKenzie  Patterson,  Inc. offer.  The  Partnership's
records indicate that as of May 1, 2001, 623.9727 Limited Partnership Units were
sold by Limited Partners to the MacKenzie Patterson, Inc. affiliates.

     On April 4, 2000, Bond Purchase,  L.L.C.,  which is not affiliated with the
Partnership  or its General  Partners,  submitted  an  unsolicited  offer to the
Partnership's  Limited Partners to purchase up to 1,000, or approximately  2.8%,
of the  outstanding  Limited  Partnership  Units of the  Partnership at $301 per
Unit. The Bond Purchase, L.L.C. offer expired on May 15, 2000. The Partnership's
records indicate that as of May 1, 2001, 505.9139 Limited Partnership Units were
sold by Limited Partners to the Bond Purchase, L.L.C.

     On March 26, 2001,  McDowell Foods,  Inc., which is not affiliated with the
Partnership or its General  Partners,  submitted an unsolicited  tender offer to
the Partnership's Limited Partners to purchase up to 790, or approximately 2.2%,
of the  outstanding  Limited  Partner Units of the Partnership at $327 per Unit.
The offer expired on May 15, 2001. The Partnership's records indicate that as of
May 1, 2001, no Limited Partnership Units were sold by the Partnership's Limited
Partners to McDowell Foods, Inc.

     Management  believes  that the Limited  Partnership  Unit sales to McDowell
Foods,  Inc., if any, will not adversely  affect the management or the liquidity
of  the  Partnership.   Additional   unsolicited   offers  to  purchase  Limited
Partnership  Units may occur in the future.  From time to time, the  Partnership
receives  requests  to  furnish  the  names,  addresses  and  number of  Limited
Partnership Units owned by the Limited Partners.  The Partnership  complies with
such  requests  as  required by the terms of the  Partnership  Agreement  and/or
applicable law.
<PAGE>

     In the  course  of  repairing  the  damage  caused  by a fire at one of the
apartment  units  at  Springdale   Apartments,   a  structural  defect  in  the
construction  of the  fire-damaged  unit was  discovered.  The Managing  General
Partner  does  not  know  whether  the  structural   defect  is  unique  to  the
fire-damaged  unit or whether similar  structural  defects exist in other units.
The Managing  General  Partner is currently in the process of  determining  what
testing and remediation,  if any, is appropriate.  Although the Managing General
Partner does not believe that the cost of remediation  of the structural  defect
found in the one apartment unit would be material, if structural defects similar
to the  defect  discovered  in the  fire-damaged  unit  exist in other  units at
Springdale  Apartments and if extensive remediation of such defects is necessary
it  could  have  a  material  adverse  impact  on  the  Partnership's  financial
condition.

     The load-bearing  capacity of the Gold Coast Storage structure is inspected
periodically in connection with the  requirements  for the permitted uses of the
property.  In  prior  years,  the  Gold  Coast  Storage  structure  has  met the
applicable  load-bearing  capacity  requirements.  The Managing  General Partner
anticipates  that the structure will continue to meet such  requirements  at the
upcoming  inspection.  However,  if the  structure  were to  fail  to meet  such
requirements  and if  extensive  remediation  were  necessary,  it could  have a
material adverse impact on the Partnership's financial condition.

     The Managing General Partner is currently  reviewing  proposed 2001 budgets
which  include  approximately  $415,000  of major  repairs and  improvements  at
Springdale   Apartments  and   approximately   $615,000  of  major  repairs  and
improvements  at Gold Coast  Storage.  Because these  amounts are  significantly
higher  than  expenditures  on such  items in the past few years,  the  Managing
General Partner is examining the proposed expenditures to determine whether such
expenditures  are  necessary  or advisable  at this time.  The Managing  General
Partner has already  determined that certain of such proposed  expenditures  are
necessary  or  advisable at this time.  The  Managing  General  Partner has also
already  removed from the proposed 2001 budgets the  construction of new garages
at Springdale Apartments, pending a determination that the expenditures for such
construction  would result in an increase in the value of Springdale  Apartments
that  could  be  realized  upon a sale of the  property  within  an  appropriate
timeframe.  If the Managing General Partner determines that all or a significant
portion of the proposed major repairs and improvements are necessary or that the
proposed  expenditures would result in an increase in the value of the Specified
Properties  that  could be  realized  upon a sale of the  properties  within  an
appropriate timeframe, the Managing General Partner may cause the Partnership to
borrow money and/or reduce or eliminate  distributions  to the Limited  Partners
for the remainder of 2001 to fund such expenditures.

RESULTS OF OPERATIONS
---------------------

     Occupancy at the  Springdale  Apartments  was 93% at March 31, 2001, 95% at
December 31, 2000, and 91.5% at March 31, 2000.  Rental revenue decreased during
the three months  ended March 31, 2001,  as compared to the same period one year
earlier,  due primarily to a $12,372 increase in vacancy loss,  partially offset
by a $9,925  increase  in  rental  rates.  The  General  Partners  believe  that
occupancy  at  Springdale  Apartments  will  remain  between  93 - 98%  for  the
remainder of 2001.

     Occupancy  at Gold  Coast  Storage  was  88.3% at March  31,  2001,  88% at
December 31, 2000, and 85% at March 31, 2000.  Rental revenue  increased  during
the three months  ended March 31, 2001,  as compared to the same period one year
earlier,  due primarily to a $8,994 decrease in vacancy loss partially offset by
a $3,258 decrease in total rental income.  The decrease in rental income at Gold
Coast  Storage is due to the  temporary  reduction  of rentable  space while new
outside storage units are being  constructed.  The General Partners believe that
occupancy at Gold Coast will remain between 88 - 94% for the remainder of 2001.

     Management  continues  to  aggressively  market  both  apartment  units  at
Springdale  Apartments  and space at Gold  Coast  Storage  in order to  increase
occupancy percentages and rental rates. There can be no assurance, however, that
increases will occur.

     Total revenue of $409,303 for  Springdale  Apartments  for the three months
ended  March 31,  2001,  decreased  approximately  2.9% from  total  revenue  of
$421,389  for the three  months  ended March 31,  2000.  The decrease in revenue
resulted primarily from decreased occupancy partially offset by increased rental
rates, as mentioned above.  Total revenue of $326,883 for Gold Coast Storage for
the three  months ended March 31, 2001,  increased  by  approximately  2.1% from
total  revenue of  $320,188  for the three  months  ended  March 31,  2000.  The
increase  in  revenue  resulted  primarily  from  increased  rental  income,  as
mentioned  above and a $2,862  increase in sundry income.  The General  Partners
believe that rental revenue at Gold Coast Storage will remain  relatively stable
over the next few years.  Overall  total  revenue of $736,186 for the  Specified
Properties for the three months ended March 31, 2001, decreased by approximately
 .7% from the total  revenue of  $741,577  for the three  months  ended March 31,
2000, due to the factors detailed above.
<PAGE>

     Expenses  for the three  months  ended  March  31,  2001,  attributable  to
Springdale  Apartments of $320,775 were approximately 22.7% higher than expenses
for the three months ended March 31, 2000, of $261,348,  due to higher  property
operating and maintenance, depreciation and general and administrative expenses.
Property  operating  expenses  are  higher  due to the  following  increases  in
expense:  gas and fuel,  $29,667,  grounds  maintenance  and supplies,  $10,043,
painting and decoration supplies and contracts, $3,667, and maintenance payroll,
$2,084. Gas and fuel expense increased due to higher utility rates.  Maintenance
salaries are higher due to increased salary levels.  General and  administrative
expenses  are higher due to the  following  increases  in expense:  advertising,
$1,161, marketing,  $2,126, office and administrative salaries, $1,875, and real
estate tax expense, $2,973.  Administrative salaries are higher due to increased
salary  levels.  Depreciation  expense  is  higher  in 2001 due to  fixed  asset
additions. Management fee expense in 2001 is comparable to 2000 expense.

     Expenses for the three months  ended March 31, 2001,  attributable  to Gold
Coast Storage of $235,612 were approximately  14.1% higher than expenses for the
three months ended March 31, 2000, of $206,532, due to higher property operating
and maintenance and general and administrative expenses.  Property operating and
maintenance  expenses  are higher in 2001,  as compared to the first  quarter of
2000,  due to the  following  increases  in  expense:  gas  and  fuel,  $13,370,
structural  repairs,   $10,523,   electrical   repairs,   $3,300,  and  heating,
ventilation and air conditioning,  $2,345, partially offset by a $3,499 decrease
in grounds  maintenance  and supplies  expense.  Gas and fuel  increased  due to
higher  utility  rates.  Depreciation  expense  in  2001 is  comparable  to 2000
expense.  General and administrative  expenses during 2001 are higher than 2000,
due to the  following  increases  in  expense:  advertising,  $1,489,  legal and
eviction fees, $1,486, real estate taxes, $3,429, and professional fees, $1,813.
Management fees are higher due to increased revenue.

     Overall expenses incurred by the Specified  Properties for the three months
ended March 31, 2001, of $556,387 were approximately 18.9% higher than the three
months ended March 31, 2000, of $467,880,  primarily due to the factors detailed
above.  Management  anticipates  that  operational  expenses in 2001,  excluding
utilities, will be similar to those experienced in 2000.

     Net income for the three  months  ended  March 31,  2001,  of $88,528  from
Springdale  Apartments  decreased  44.7%,  as compared to the three months ended
March 31, 2000, of $160,041,  due to higher property  operating and maintenance,
depreciation, general and administrative expenses, and lower rental revenue. Net
income for the three  months  ended March 31,  2001,  of $91,271 from Gold Coast
Storage  decreased  19.7%,  as compared to net income for the three months ended
March 31, 2000, of $113,656,  due to higher  property  operating and maintenance
and general and  administrative  expenses,  partially offset by increased rental
revenue.

     Interest  income earned by the Partnership for the three months ended March
31,  2001,  of $9,633 is 7.5%  higher  than the $8,961  earned  during the three
months ended one year  earlier.  Interest  income  earned on excess cash held by
Springdale  Apartments  was  $1,588  in 2001,  as  compared  to  $2,856 in 2000.
Administrative  expenses  incurred by the Partnership for the three months ended
March 31,  2001,  of $17,670  decreased  by  approximately  61.3% from the three
months ended one year earlier of $45,638,  primarily due to decreased accounting
and tax service fees.

     Overall net income for the Specified  Properties for the three months ended
March 31,  2001 of $171,762  decreased  27.5%,  as compared to the three  months
ended March 31, 2000, of $237,020, primarily due to increased expenses partially
offset by increased revenue as discussed above.

     Net cash flows  provided by operations for the three months ended March 31,
2001, was $204,919 compared to net cash flows provided by operations of $232,657
for the three months ended March 31, 2000. The decrease was primarily the result
of decreased net income before  depreciation  expense and reductions in resident
security deposits,  partially offset by a lower decrease in accounts payable and
accrued expenses and a lower increase in accounts receivable. Investment in real
estate at the  Specified  Properties  increased  by $39,500 for the three months

<PAGE>

ended March,  31,  2001,  compared to an increase of $41,805 for the same period
one year ago.  Additions to investment  in real estate at Springdale  Apartments
during the first quarter of 2001 included an apartment  renovation and continued
carpet  and  appliance  replacement.  There  were no  significant  additions  to
investment  in real  estate at Gold Coast  Storage  during the first  quarter of
2001.  Distributions to Limited Partners during the three months ended March 31,
2001,  totaled $415,064,  compared to distributions of $429,245 during the three
months ended March 31,  2000.  Distributions  to General  Partners for the three
months  ended March 31,  2001,  and the three  months  ended March 31, 2000 each
totaled  $139,865.  In accordance  with the Partnership  Agreement,  the General
Partners  were  entitled to such  distributions  because  the  Limited  Partners
received a 7% noncumulative,  noncompounded  preferred return in fiscal 2000 and
fiscal 1999.  As discussed  in  "Liquidity  and Capital  Resources"  above,  the
Managing General Partner is currently  reviewing  proposed budgets which include
significant  proposed  expenditures  for major repairs and  improvements  at the
Specified  Properties.  If the Managing General Partner determines that all or a
significant portion of the proposed major repairs and improvements are necessary
or that the  proposed  expenditures  would result in an increase in the value of
the specified  Properties  that could be realized upon a sale of the properties,
the Managing  General  Partner may cause the  Partnership to borrow money and/or
reduce or eliminate  distributions  to the Limited Partners for the remainder of
2001 to fund such expenditures.

     The Managing General Partner is continuing to explore  opportunities deemed
advantageous  to the  Partnership,  including  the  sale  of one or  both of the
Specified Properties.

     Some  statements in this Form 10-QSB are forward looking and actual results
may differ materially from those stated. As discussed herein,  among the factors
that may affect actual results are changes in rental rates,  occupancy levels in
the market  place in which the  Springdale  Apartments  and Gold  Coast  Storage
compete and/or unanticipated changes in expenses or capital expenditures.


<PAGE>
                                     PART II

                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                        (A DELAWARE LIMITED PARTNERSHIP)


     Items 1 through 5 are omitted  because of the absence of  conditions  under
which they are required.

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K.

           (a)      Exhibits.

                    None

           (b)      Reports on Form 8-K.

                    Form 8-K was filed on April 19, 2001.

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                                   SIGNATURES
                                   ----------


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


                     CHRISKEN PARTNERS CASH INCOME FUND L.P.
                     ---------------------------------------
                                  (Registrant)


                                    By:      ChrisKen Income Properties
                                             Inc., Managing General
                                             Partner


Date:  May 21, 2001                 By:      /S/John F. Kennedy
                                             -------------------------
                                             John F. Kennedy
                                             Director and President