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

                            FORM 10-Q

        QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934

         For the quarterly period ended:  March 31, 2010

               Commission File Number:  000-53691

                   AEI INCOME & GROWTH FUND 27 LLC
     (Exact name of registrant as specified in its charter)

       State of Delaware                   20-8657207
(State or other jurisdiction of         (I.R.S. Employer
incorporation or organization)        Identification No.)

    30 East 7th Street, Suite 1300, St. Paul, Minnesota 55101
             (Address of principal executive offices)

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

                        Not Applicable
 (Former name, former address and former fiscal year, if changed
                       since last report)

Indicate  by check mark whether the registrant (1) has filed  all
reports  required  to be filed by Section  13  or  15(d)  of  the
Securities  Exchange Act of 1934 during the preceding  12  months
(or  for such shorter period that the registrant was required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.                [X] Yes  [ ] No

Indicate  by  check  mark  whether the registrant  has  submitted
electronically  and posted on its corporate  Web  site,  if  any,
every  Interactive Data File required to be submitted and  posted
pursuant  to Rule 405 of Regulation S-T (232.405 of this chapter)
during  the preceding 12 months (or for such shorter period  that
the registrant was required to submit and post such files).
                                                  [ ] Yes  [ ] No

Indicate  by  check  mark  whether  the  registrant  is  a  large
accelerated filer, an accelerated filer, a non-accelerated filer,
or  a  smaller reporting company.  See the definitions of  "large
accelerated  filer," "accelerated filer" and  "smaller  reporting
company" in Rule 12b-2 of the Exchange Act.

   Large accelerated filer [ ]      Accelerated filer [ ]

   Non-accelerated filer  [ ]       Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell  company
(as defined in Rule 12b-2 of the Exchange Act).   [ ] Yes [X] No


                 AEI INCOME & GROWTH FUND 27 LLC

                              INDEX


Part I - Financial Information

 Item 1. Financial Statements:

         Balance Sheet as of March 31, 2010 and December 31, 2009

         Statements for the Three Months ended March 31, 2010 and 2009:

           Income

           Cash Flows

           Changes in Members' Equity (Deficit)

         Notes to Financial Statements

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

 Item 3. Quantitative and Qualitative Disclosures About Market Risk

 Item 4. Controls and Procedures

Part II - Other Information

 Item 1. Legal Proceedings

 Item 1A.Risk Factors

 Item 2. Unregistered Sales of Equity Securities and  Use  of Proceeds

 Item 3. Defaults Upon Senior Securities

 Item 5. Other Information

 Item 6. Exhibits

         Signatures

<PAGE>
                 AEI INCOME & GROWTH FUND 27 LLC
                          BALANCE SHEET
              MARCH 31, 2010 AND DECEMBER 31, 2009

                             ASSETS

                                                       2010          2009
CURRENT ASSETS:
   Cash                                            $ 3,634,472   $ 3,656,527

INVESTMENTS IN REAL ESTATE:
  Land                                               1,279,635     1,279,635
  Buildings and Equipment                            4,900,606     4,900,606
  Accumulated Depreciation                            (261,245)     (212,239)
                                                    -----------   -----------
      Net Investments in Real Estate                 5,918,996     5,968,002
                                                    -----------   -----------
          Total Assets                             $ 9,553,468   $ 9,624,529
                                                    ===========   ===========

                      LIABILITIES AND MEMBERS' EQUITY

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.             $    19,328   $    29,600
  Distributions Payable                                150,005       134,820
  Unearned Rent                                         37,726             0
                                                    -----------   -----------
      Total Current Liabilities                        207,059       164,420
                                                    -----------   -----------
MEMBERS' EQUITY (DEFICIT):
  Managing Members                                     (28,485)      (25,073)
  Limited Members, $10 per Unit;
   10,000,000 Units authorized;
   1,164,037  Units issued and outstanding           9,374,894     9,485,182
                                                    -----------   -----------
      Total Members' Equity                          9,346,409     9,460,109
                                                    -----------   -----------
        Total Liabilities and Members' Equity      $ 9,553,468   $ 9,624,529
                                                    ===========   ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 27 LLC
                       STATEMENT OF INCOME
               FOR THE THREE MONTHS ENDED MARCH 31


                                                       2010          2009

RENTAL INCOME                                     $   113,177    $    59,331

EXPENSES:
  LLC Administration - Affiliates                      28,624         18,987
  LLC Administration and Property
     Management - Unrelated Parties                     8,093          5,750
  Depreciation                                         49,006         27,802
                                                   -----------    -----------
      Total Expenses                                   85,723         52,539
                                                   -----------    -----------

OPERATING INCOME                                       27,454          6,792

OTHER INCOME:
  Interest Income                                       8,851         11,355
                                                   -----------    -----------
NET INCOME                                        $    36,305    $    18,147
                                                   ===========    ===========

NET INCOME ALLOCATED:
  Managing Members                                $     1,089    $       544
  Limited Members                                      35,216         17,603
                                                   -----------    -----------
                                                  $    36,305    $    18,147
                                                   ===========    ===========

NET INCOME PER LLC UNIT                           $       .03    $       .03
                                                   ===========    ===========

Weighted Average Units Outstanding -
  Basic and Diluted                                 1,164,037        616,689
                                                   ===========    ===========


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 27 LLC
                     STATEMENT OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31


                                                         2010        2009

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                       $    36,305  $    18,147

  Adjustments To Reconcile Net Income
  To Net Cash Provided By Operating Activities:
     Depreciation                                       49,006       27,802
     Increase in Receivables                                 0         (189)
     Decrease in Payable to
        AEI Fund Management, Inc.                      (10,272)     (10,753)
     Increase in Unearned Rent                          37,726        7,750
                                                    -----------  -----------
       Total Adjustments                                76,460       24,610
                                                    -----------  -----------
       Net Cash Provided By
           Operating Activities                        112,765       42,757
                                                    -----------  -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Investments in Real Estate                                 0     (200,172)
                                                    -----------  -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Capital Contributions from Limited Members                 0    1,342,723
  Organization and Syndication Costs                         0     (196,506)
  Distributions Paid to Members                       (134,820)     (70,507)
                                                    -----------  -----------
       Net Cash Provided By (Used For)
           Financing Activities                       (134,820)   1,075,710
                                                    -----------  -----------

NET INCREASE (DECREASE) IN CASH                        (22,055)     918,295

CASH, beginning of period                            3,656,527    1,059,127
                                                    -----------  -----------
CASH, end of period                                $ 3,634,472  $ 1,977,422
                                                    ===========  ===========




 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 27 LLC
        STATEMENT OF CHANGES IN MEMBERS' EQUITY (DEFICIT)
               FOR THE THREE MONTHS ENDED MARCH 31


                                                                  Limited
                                                                   Member
                             Managing     Limited                  Units
                             Members      Members      Total    Outstanding


BALANCE, December 31, 2008 $ (14,413)  $ 4,744,119  $ 4,729,706    567,725.6

  Capital Contributions            0     1,342,723    1,342,723    134,272.3

  Organization and
    Syndication Costs              0      (196,506)    (196,506)

  Distributions Declared      (2,384)      (77,086)     (79,470)

  Net Income                     544        17,603       18,147
                            ---------   -----------  ----------- ------------
BALANCE, March 31, 2009    $ (16,253)  $ 5,830,853  $ 5,814,600    701,997.9
                            =========   ===========  =========== ============


BALANCE, December 31, 2009 $ (25,073)  $ 9,485,182  $ 9,460,109  1,164,036.5

  Distributions Declared      (4,501)     (145,504)    (150,005)

  Net Income                   1,089        35,216       36,305
                            ---------   -----------  ----------- ------------
BALANCE, March 31, 2010    $ (28,485)  $ 9,374,894  $ 9,346,409  1,164,036.5
                            =========   ===========  =========== ============


 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
                 AEI INCOME & GROWTH FUND 27 LLC
                  NOTES TO FINANCIAL STATEMENTS
                         MARCH 31, 2010

(1)  The  condensed  statements included herein have been  prepared
     by  the  registrant, without audit, pursuant to the rules  and
     regulations  of  the Securities and Exchange  Commission,  and
     reflect   all  adjustments  which  are,  in  the  opinion   of
     management,  necessary to a fair statement of the  results  of
     operations for the interim period, on a basis consistent  with
     the  annual audited statements.  The adjustments made to these
     condensed   statements  consist  only  of   normal   recurring
     adjustments.   Certain information, accounting  policies,  and
     footnote    disclosures   normally   included   in   financial
     statements  prepared  in  accordance with  generally  accepted
     accounting principles have been condensed or omitted  pursuant
     to   such  rules  and  regulations,  although  the  registrant
     believes  that  the  disclosures  are  adequate  to  make  the
     information  presented not misleading.  It is  suggested  that
     these  condensed financial statements be read  in  conjunction
     with  the  financial statements and the summary of significant
     accounting  policies  and  notes  thereto  included   in   the
     registrant's latest annual report on Form 10-K.

(2)  Organization -

     AEI  Income  &  Growth  Fund 27 LLC ("Company"),  a  Limited
     Liability Company, was formed on January 26, 2007 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 director of AFM, serves as  the  Special
     Managing  Member.  AFM is a wholly owned subsidiary  of  AEI
     Capital  Corporation of which Mr. Johnson  is  the  majority
     shareholder.    AEI  Fund  Management,  Inc.   ("AEI"),   an
     affiliate  of AFM, performs the administrative and operating
     functions for the Company.

     The terms of the offering called for a subscription price of
     $10  per LLC Unit, payable on acceptance of the offer.   The
     Company  commenced operations on June 5, 2008  when  minimum
     subscriptions   of  150,000  LLC  Units  ($1,500,000)   were
     accepted.   The offering terminated November 18, 2009,  when
     the  extended offering period expired.  The Company received
     subscriptions for 1,164,036.5 Units.  Under the terms of the
     Operating  Agreement,  the  Limited  Members  and   Managing
     Members   contributed  funds  of  $11,640,365  and   $1,000,
     respectively.   The Company shall continue until  liquidated
     under  the  provisions  of  Article  XII  of  the  Operating
     Agreement.

     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.

                 AEI INCOME & GROWTH FUND 27 LLC
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)

(2)  Organization - (Continued)

     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
     6.5%  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,  the  items of income,  gain,  loss  and
     deduction of the Company will be allocated among the Members
     in   a  manner  that  will  give  economic  effect  to   the
     distributions made by the Company.

(3)  Investments in Real Estate -

     On  November 21, 2008, the Company purchased a 37%  interest
     in  a  parcel  of  land  in  Rapid City,  South  Dakota  for
     $338,446.   The Company obtained title to the  land  in  the
     form of an undivided fee simple interest in the 37% interest
     purchased.  Simultaneous with the purchase of the land,  the
     Company entered into a Development Financing Agreement under
     which  the Company advanced funds to Brad and Dad,  LLC  for
     the  construction of a Tractor Supply Company store  on  the
     site.   The Company's share of the total acquisition  costs,
     including  the  cost  of  the  land,  was  $1,166,908.   The
     remaining  interest  in the property was  purchased  by  AEI
     Income  &  Growth Fund XXI Limited Partnership, an affiliate
     of the Company.

     The  property  is leased to Tractor Supply Company  under  a
     Lease  Agreement with a primary term of 15 years and initial
     annual rent of $83,250 for the interest purchased.  Pursuant
     to  the Lease, the tenant commenced paying rent on August 6,
     2009,  the  day the store opened for business.  Pursuant  to
     the  Development  Financing Agreement, for the  period  from
     November 21, 2008 to August 5, 2009, Brad and Dad, LLC  paid
     the Company interest at a rate of 6.9% on the purchase price
     of the land and the amounts advanced for construction of the
     building.   Pursuant to the Lease, any improvements  to  the
     land during the term of the Lease become the property of the
     Company.

     On  May 22, 2009, the Company purchased a 30% interest in  a
     Staples store in Vernon Hills, Illinois for $1,591,987.  The
     Company incurred $62,611 of acquisition expenses related  to
     the  purchase.  These costs were expensed as incurred as the
     Company  adopted new guidance on business combinations  that
     became effective January 1, 2009.  The property is leased to
     Staples  the  Office  Superstore East, Inc.  under  a  Lease
     Agreement  with a remaining primary term of  9.4  years  and
     initial  annual rent of $132,135 for the interest purchased.
     The  remaining interest in the property was purchased by AEI
     Net  Lease  Income & Growth Fund XX Limited Partnership,  an
     affiliate of the Company.


                 AEI INCOME & GROWTH FUND 27 LLC
                  NOTES TO FINANCIAL STATEMENTS
                           (Continued)

(4)  Payable to AEI Fund Management, Inc. -

     AEI  Fund  Management, Inc. performs the administrative  and
     operating  functions for the Company.  The  payable  to  AEI
     Fund   Management  represents  the  balance  due  for  those
     services.    This  balance  is  non-interest   bearing   and
     unsecured  and  is  to  be  paid in  the  normal  course  of
     business.

(5)  Fair Value Measurements -

     As  of  March  31,  2010,  the  Company  has  no  assets  or
     liabilities measured at fair value on a recurring  basis  or
     nonrecurring basis.

ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL
        CONDITION AND RESULTS OF OPERATIONS.

        This  section contains "forward-looking statements" 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, the
sufficiency  of  cash  to  meet  operating  expenses,  rates   of
distribution,  and  other  matters.  These,  and  other  forward-
looking  statements,  should 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
    effects of these consequences for Members;

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

    the   success  of  the  Managing  Members  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.

Application of Critical Accounting Policies

        The  preparation  of  the Company's financial  statements
requires  management to make estimates and assumptions  that  may
affect the reported amounts of assets, liabilities, revenues  and
expenses,  and  related  disclosure  of  contingent  assets   and
liabilities. Management evaluates these estimates on  an  ongoing
basis,  including  those related to the carrying  value  of  real
estate  and  the  allocation  by AEI  Fund  Management,  Inc.  of
expenses to the Company as opposed to other funds they manage.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

       Prior to January 1, 2009, the Company purchased properties
and  recorded them in the financial statements at cost (including
capitalized acquisition expenses).  For acquisitions completed on
or  after January 1, 2009, acquisition-related transaction  costs
will  be expensed as incurred as a result of the Company adopting
new  guidance on business combinations that expands the scope  of
acquisition accounting. The Company tests long-lived  assets  for
recoverability  when events or changes in circumstances  indicate
that  the  carrying value may not be recoverable.  For properties
the  Company will hold and operate, management determines whether
impairment  has occurred by comparing the property's probability-
weighted  future undiscounted cash flows to its current  carrying
value.   For  properties  held  for sale,  management  determines
whether  impairment  has  occurred by  comparing  the  property's
estimated  fair  value less cost to sell to its current  carrying
value.   If  the  carrying value is greater than  the  realizable
value,  an  impairment loss is recorded to  reduce  the  carrying
value  of the property to its realizable value.  Changes in these
assumptions  or  analysis  may  cause  material  changes  in  the
carrying value of the properties.

        AEI  Fund Management, Inc. allocates expenses to each  of
the  funds  they manage primarily on the basis of the  number  of
hours  devoted  by their employees to each fund's affairs.   They
also  allocate  expenses at the end of each month  that  are  not
directly related to a fund's operations based upon the number  of
investors  in the fund and the fund's capitalization relative  to
other  funds they manage.  The Company reimburses these  expenses
subject  to  detailed  limitations  contained  in  the  Operating
Agreement.

        Management  of the Company has discussed the  development
and   selection  of  the  above  accounting  estimates  and   the
management  discussion  and analysis disclosures  regarding  them
with the managing member of the Company.

Results of Operations

        For  the  three months ended March 31, 2010, the  Company
recognized  rental income of $113,177, representing three  months
rent from four properties.  For the three months ended March  31,
2009,   the   Company  recognized  rental  income   of   $59,331,
representing three months rent from two properties.

        For  the three months ended March 31, 2010 and 2009,  the
Company  incurred  LLC  administration expenses  from  affiliated
parties   of   $28,624   and   $18,987,   respectively.     These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and communicating with the Limited Members.   During
the  same  periods,  the Company incurred LLC administration  and
property management expenses from unrelated parties of $8,093 and
$5,750,  respectively.  These expenses represent direct  payments
to third parties for legal and filing fees, direct administrative
costs,  outside audit costs, taxes, insurance and other  property
costs.   As  the Company raised additional subscription  proceeds
and  purchased  additional  properties,  the  administration  and
property management expenses increased.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        For  the three months ended March 31, 2010 and 2009,  the
Company   recognized  interest  income  of  $8,851  and  $11,355,
respectively.   In  2010, interest income  earned  on  its  money
market  account  increased as the Company had  more  subscription
proceeds  temporarily invested in the account in 2010.   However,
overall interest income decreased as the Company received  $7,650
of interest income on construction advances in 2009.

         Management  believes  inflation  has  not  significantly
affected  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.  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, interest 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 management of properties, the organization
and   administration  of  the  Company,  and   the   payment   of
distributions.

        The  Company  generated $112,765 of cash from  operations
during  the  three months ended March 31, 2010, representing  net
income of $36,305, a non-cash expense of $49,006 for depreciation
and  $27,454  in  net  timing differences in  the  collection  of
payments  from  the  tenants and the payment  of  expenses.   The
Company  generated  $42,757 of cash from  operations  during  the
three  months  ended March 31, 2009, representing net  income  of
$18,147 and a non-cash expense of $27,802 for depreciation, which
were partially offset by $3,192 in net timing differences in  the
collection  of  payments  from the tenants  and  the  payment  of
expenses.

        The  major  components of the Company's  cash  flow  from
investing activities are investments in real estate and  proceeds
from  the  sale  of real estate.  During the three  months  ended
March 31, 2010, the Company did not purchase any real properties.
During  the  year  ended December 31, 2009, the Company  expended
$2,362,478  to invest in real properties.  On May 22,  2009,  the
Company  purchased a 30% interest in a Staples  store  in  Vernon
Hills,  Illinois for $1,591,987. In addition, during the  period,
the Company expended $770,491 for the construction of the Tractor
Supply  store  in  Rapid City, South Dakota.   During  the  three
months   ended  March  31,  2009,  the  Company's   real   estate
expenditures were $200,172.

       During the offering of Units, the Company's primary source
of  cash  flow  was  from  the sale of LLC  Units.   The  Company
commenced  the  offering of LLC Units to  the  public  through  a
registration  statement that became effective November  19,  2007
and continued until November 18, 2009, when the extended offering
period  expired.  The Company raised a total of $11,640,365  from
the  sale of 1,164,036.5 Units.  From subscription proceeds,  the
Company  incurred  organization  and  syndication  costs   (which
constitute a reduction of capital) of $1,718,668.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        After  completion of the acquisition phase, the Company's
primary  use  of  cash  flow  will be  distribution  payments  to
Members.     The   Company   declares   its   regular   quarterly
distributions  before  the  end of  each  quarter  and  pays  the
distribution  in  the first week after the end of  each  quarter.
For  the  three months ended March 31, 2010 and 2009, the Company
declared  distributions  of $150,005 and  $79,470,  respectively,
which  were allocated 97% to the Limited Members and  3%  to  the
Managing Members.

        Beginning in May 2010, 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 more than 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.

        The  Operating Agreement requires that all proceeds  from
the  sale  of Units, subject to a reasonable reserve for  ongoing
operations, be invested or committed to investment in  properties
by  the  later  of  two years after the date of the  registration
statement or twelve months after the offering terminates.  As  of
March 31, 2010, the Company had no formal contractual commitments
to expend capital.

        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  .5% of subscription  proceeds.   Because
properties  are purchased for cash and leased under  net  leases,
this is considered adequate to satisfy most contingencies.

The Economy and Market Conditions

       The impact of conditions in the current economy, including
the  turmoil  in the credit markets, has adversely affected  many
real  estate investment funds.  However, the absence of  mortgage
financing  on  the Company's properties eliminates the  risks  of
foreclosure and debt-refinancing that can negatively  impact  the
value  and  distributions  of leveraged  real  estate  investment
funds.  Nevertheless, a prolonged economic downturn may adversely
affect  the  operations of the Company's tenants and  their  cash
flows.  If a tenant were to default on its lease obligations, the
Company's  income would decrease, its distributions would  likely
be reduced and the value of its properties might decline.

        The Company's plan is to periodically sell properties  to
generate  capital gains that would be included in  the  Company's
regular quarterly distributions and to make special distributions
on  occasion.   Beginning in the fourth quarter of 2008,  general
economic conditions caused the volume of property sales  to  slow
dramatically for all real estate sellers.  In 2008 and 2009,  the
Company did not complete any property sales.  Until such time  as
economic conditions allow the Company to begin selling properties
at  attractive prices, quarterly distributions will  reflect  the
distribution  of net core rental income and capital reserves,  if
any.   Distribution rates in 2010 are expected to  be  consistent
with distribution rates in 2009.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT  MARKET RISK.

       Not required for a smaller reporting company.

ITEM 4.   CONTROLS AND PROCEDURES.

       (a)  Disclosure Controls and Procedures.

        Under  the  supervision  and with  the  participation  of
management, including its President and Chief Financial  Officer,
the Managing Member of the Company evaluated the effectiveness of
the   design  and  operation  of  our  disclosure  controls   and
procedures  (as  defined in Rule 13a-15(e) under  the  Securities
Exchange  Act  of  1934 (the "Exchange Act")).  Based  upon  that
evaluation,  the  President and Chief Financial  Officer  of  the
Managing  Member  concluded that, as of the  end  of  the  period
covered  by  this report, our disclosure controls and  procedures
were  effective  in  ensuring  that information  required  to  be
disclosed  by us in the reports that we file or submit under  the
Exchange  Act  is  recorded, processed, summarized  and  reported
within  the time periods specified in applicable rules and  forms
and  that  such  information is accumulated and  communicated  to
management,  including the President and Chief Financial  Officer
of  the Managing Member, in a manner that allows timely decisions
regarding required disclosure.

       (b)  Changes in Internal Control Over Financial Reporting.

        During  the  most recent period covered by  this  report,
there  has  been no change in our internal control over financial
reporting  (as defined in Rule 13a-15(f) under the Exchange  Act)
that  has  materially  affected,  or  is  reasonably  likely   to
materially affect, our internal control over financial reporting.


                   PART II - OTHER INFORMATION

ITEM 1.   LEGAL PROCEEDINGS.

        There are no material pending legal proceedings to  which
the  Company  is  a party or of which the Company's  property  is
subject.

ITEM 1A.  RISK FACTORS.

       Not required for a smaller reporting company.

                   PART II - OTHER INFORMATION
                           (Continued)

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

       (a) None.

        (b) The registration statement for the offering (No. 333-
144961)  was  declared  effective  on  November  19,  2007.   The
offering  commenced on November 19, 2007 and terminated  November
18,  2009,  when  the  extended  offering  period  expired.   AEI
Securities, Inc. ("ASI") was the dealer manager of the  offering.
The  registration  statement covers 10,000,000 Units  of  limited
liability  company interest at an aggregate price of up  to  $100
million.   The Company sold 1,164,036.5 Units for gross  offering
proceeds of $11,640,365.

        From gross offering proceeds, the Company paid $1,119,618
in  selling  commissions  to ASI, an affiliate  of  the  Managing
Members.   Of  this  amount, $730,728 was re-allowed  by  ASI  to
participating  broker-dealers not affiliated  with  the  Managing
Members.   The  gross offering proceeds were further  reduced  by
underwriting  discounts  of $17,032 and  other  organization  and
syndication costs of $582,018 of which $344,658 was paid  to  AEI
Fund Management, Inc., an affiliate of the Managing Members,  for
costs  incurred  in providing services related  to  managing  the
offering  and  organization  of the Company.   From  subscription
proceeds,  the  Company  incurred commissions,  organization  and
syndication costs totaling $1,718,668.

        From  the  net  offering proceeds, the  Company  expended
$6,242,852 to acquire real estate of which $6,009,207 represented
cash  paid  to  unaffiliated  sellers  of  real  estate,  $90,138
represented  an  acquisition  administration  fee  paid  to   the
Managing  Member and $143,507 represented cash paid to  reimburse
AEI  Fund  Management,  Inc.  for  costs  incurred  in  providing
services  and  direct  expenses related  to  the  acquisition  of
properties on behalf of the Company.

        (c) Beginning in May 2010, pursuant to Section 7.7 of the
Operating Agreement, each Limited Member has the right to present
Units  to  the Company for purchase by submitting notice  to  the
Managing  Member during January or July of each year.   From  May
2010  through November 2011, the purchase price of the  Units  is
equal  to  90% of the net asset value per Unit, as of  the  first
business  day  of January or July of each year, as determined  by
the  Managing  Member in accordance with the  provisions  of  the
Operating Agreement.  After November 2011, the purchase price  is
equal to 95% of the net asset value per Unit.  The purchase price
is  equal to 100% of the net asset value per Unit in the case  of
Units  of  a  deceased investor, who purchased the Units  in  the
initial  offering  and who is a natural person,  including  Units
held  by  an investor that is an IRA or other qualified plan  for
which  the deceased person was the primary beneficiary, or  Units
held  by  an  investor  that is a grantor  trust  for  which  the
deceased person was the grantor.

        Units tendered to the Company during January and July are
redeemed on April 1st and October 1st, respectively, of each year
subject  to the following limitations.  The Company will  not  be
obligated  to  purchase in any year more than  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.   During  the
period  covered by this report, the Company did not purchase  any
Units.

                   PART II - OTHER INFORMATION
                           (Continued)

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES.

       None.

ITEM 5.   OTHER INFORMATION.

       None.

ITEM 6.   EXHIBITS.

    31.1  Certification  of Chief Executive Officer  of  Managing
    Member  pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and
    Section 302 of the Sarbanes-Oxley Act of 2002.

    31.2  Certification  of Chief Financial Officer  of  Managing
    Member  pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and
    Section 302 of the Sarbanes-Oxley Act of 2002.

    32    Certification  of  Chief Executive  Officer  and  Chief
    Financial Officer of Managing Member pursuant to Section  906
    of the Sarbanes-Oxley Act of 2002.



                           SIGNATURES

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


Dated:  May 12, 2010          AEI Income & Growth Fund 27 LLC
                              By:  AEI Fund Management XXI, Inc.
                              Its: Managing Member



                              By: /s/ ROBERT P JOHNSON
                                      Robert P. Johnson
                                      President
                                      (Principal Executive Officer)



                              By: /s/ PATRICK W KEENE
                                      Patrick W. Keene
                                      Chief Financial Officer
                                      (Principal Accounting Officer)