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, 2000

                 Commission file number:  24003

        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
         (Name of Small Business Issuer in its Charter)

        State of Minnesota              41-1848181
(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 Partnership 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,  2000  were
$1,225,209.

As  of  February 28, 2001, there were 16,635.326 Units of limited
partnership 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 $16,635,326.

               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 XXII Limited Partnership  (the
"Partnership" or the "Registrant") is a limited partnership which
was  organized pursuant to the laws of the State of Minnesota  on
July   31,  1996.   The  registrant  is  comprised  of  AEI  Fund
Management XXI, Inc. (AFM) as Managing General Partner, Robert P.
Johnson  as  the  Individual General Partner, and  purchasers  of
partnership  units as Limited Partners.  The Partnership  offered
for  sale up to $24,000,000 of limited partnership interests (the
"Units")  (24,000  Units  at  $1,000  per  Unit)  pursuant  to  a
registration   statement  effective  January   10,   1997.    The
Partnership  commenced operations on May  1,  1997  when  minimum
subscriptions  of  1,500 Limited Partnership  Units  ($1,500,000)
were accepted.  The Partnership's offering terminated January  9,
1999  when the extended offering period expired.  The Partnership
received  subscriptions for 16,917.222 Limited Partnership  Units
($16,917,222).

        The  Partnership  was organized to acquire  existing  and
newly  constructed commercial properties located  in  the  United
States,  to  lease  such properties to tenants under  triple  net
leases,  to  hold  such  properties and to eventually  sell  such
properties.    From   subscription  proceeds,   the   Partnership
purchased twelve properties, including partial interests in three
properties, at a total cost of $13,363,547.  The balance  of  the
subscription proceeds was applied to organization and syndication
costs,   working   capital  reserves  and  distributions,   which
represented  a  return  of  capital.   The  properties  are   all
commercial,  single  tenant buildings  leased  under  triple  net
leases.

         The   Partnership's  properties  were   purchased   with
subscription proceeds without any indebtedness.  The  Partnership
will not finance properties in the future to obtain proceeds  for
new  property  acquisitions.  If it is required  to  do  so,  the
Partnership  may  incur  short-term indebtedness,  which  may  be
secured  by a portion of the Partnership's properties, to finance
the   day-to-day  cash  flow  requirements  of  the   Partnership
(including cash flow necessary to repurchase Units).  The  amount
of borrowings that may be secured by the Partnership's properties
is  limited in the aggregate to 10% of the purchase price of  all
Partnership   properties.   The  Partnership   will   not   incur
borrowings prior to application of the proceeds from sale of  the
Units,  will not incur borrowings to pay distributions, and  will
not   incur   borrowings  while  there  is  cash  available   for
distributions.

       The Partnership will hold its properties until the General
Partners  determine  that the sale or other  disposition  of  the
properties   is   advantageous  in  view  of  the   Partnership's
investment  objectives.  In deciding whether to sell  properties,
the  General  Partners 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  Partnership 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
Partnership reserves the right, at the discretion of the  General
Partners,  to  either  distribute  proceeds  from  the  sale   of
properties  to  the  Partners or to  reinvest  such  proceeds  in
additional  properties,  provided that  sufficient  proceeds  are
distributed  to  the Limited Partners to pay  federal  and  state
income  taxes related to any taxable gain recognized as a  result
of  the  sale.   It  is  anticipated that  the  Partnership  will
commence liquidation through the sale of its remaining properties
twelve  to  fifteen  years  after its formation,  although  final
liquidation   may  be  delayed  by  a  number  of  circumstances,
including market conditions and seller financing of properties.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

Leases

       Although there are variations in the specific terms of the
leases,  the following is a summary of the general terms  of  the
Partnership's  leases.   The properties  are  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 are for 15 to 20 years.  The leases provide for  base
annual  rental  payments,  payable in monthly  installments,  and
contain  rent  clauses which entitle the Partnership  to  receive
additional rent in future years based on stated rent increases.

        The leases provide the lessees with two to four five-year
renewal options subject to the same terms and conditions  as  the
initial  lease.   Certain lessees have been  granted  options  to
purchase  the  property.  Depending on the  lease,  the  purchase
price is either determined by a formula, or is 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  June 29, 1998, the Partnership purchased a parcel  of
land  in  Centerville, Ohio for $1,850,988.  On August 28,  1998,
the  Partnership assigned, for diversification purposes,  77%  of
its  interest  in the property to three affiliated  partnerships.
The land is leased to Americana Dining Corporation (ADC) under  a
Lease Agreement with a primary term of 20 years and annual rental
payments  of  $29,801.  Effective December 25, 1998,  the  annual
rent  was increased to $44,701.  Simultaneously with the purchase
of the land, the Partnership entered into a Development Financing
Agreement under which the Partnership advanced funds to  ADC  for
the  construction of a Champps Americana restaurant on the  site.
Initially, the Partnership charged interest on the advances at  a
rate of 7.0%.  Effective December 25, 1998, the interest rate was
increased  to 10.5%.  On January 27, 1999, after the  development
was  completed, the Lease Agreement was amended to require annual
rental  payments of $93,256.  The Partnership's  share  of  total
acquisition costs, including the cost of the land, was  $924,843.
The  remaining interests in the property are owned  by  AEI  Real
Estate Fund XVII Limited Partnership, AEI Real Estate Fund  XVIII
Limited  Partnership  and AEI Income & Growth  Fund  XXI  Limited
Partnership, affiliates of the Partnership.

        On  November 20, 1998, the Partnership purchased a parcel
of land in Homewood, Alabama for $696,000.  The land is leased to
RTM  Alabama, Inc. (RTM) under a Lease Agreement with  a  primary
term   of  20  years  and  annual  rental  payments  of  $46,980.
Simultaneously  with  the purchase of the land,  the  Partnership
entered  into a Development Financing Agreement under  which  the
Partnership  advanced  funds to RTM for the  construction  of  an
Arby's  restaurant on the site.  The Partnership charged interest
on  the advances at a rate of 6.75%.  On July 9, 1999, after  the
development  was completed, the Lease Agreement  was  amended  to
require  annual  rental payments of $87,135.   Total  acquisition
costs, including the cost of the land, were $1,392,592.

        On  November 25, 1998, the Partnership purchased a parcel
of  land in Fort Wayne, Indiana for $470,000.  The land is leased
to  Tumbleweed, Inc. (TWI) under a Lease Agreement with a primary
term   of  15  years  and  annual  rental  payments  of  $39,950.
Effective  March  24,  1999, the annual  rent  was  increased  to
$48,175.   Simultaneously  with the purchase  of  the  land,  the
Partnership entered into a Development Financing Agreement  under
which  the Partnership advanced funds to TWI for the construction
of   a  Tumbleweed  restaurant  on  the  site.   Initially,   the
Partnership charged interest on the advances at a rate  of  8.5%.
Effective  March  24, 1999, the interest rate  was  increased  to
10.25%.  On August 31, 1999, after the development was completed,
the Lease Agreement was amended to require annual rental payments
of  $130,941.  Total acquisition costs, including the cost of the
land, were $1,316,695.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

       On January 26, 1999, the Partnership purchased a Hollywood
Video store in Saraland, Alabama for $1,377,891.  The property is
leased  to  Hollywood Entertainment Corp. under a Lease Agreement
with  a  primary term of 15 years and annual rental  payments  of
$129,617.

         On   July  14,  1999,  the  Partnership  purchased  four
Children's  World daycare centers located in Abingdon,  Maryland,
Houston,  Texas,  Pearland,  Texas and  DePere,  Wisconsin.   The
properties were purchased for $1,051,772, $892,219, $943,415  and
$1,187,452, respectively.  The properties are leased  to  ARAMARK
Educational  Resources, Inc. under Lease Agreements with  primary
terms of 15 years and annual rental payments of $91,677, $79,093,
$83,635 and $106,157, respectively.

        On  July  16, 1999, the Partnership purchased a Hollywood
Video  store in Minot, North Dakota for $1,330,000.  The property
is  leased to Hollywood Entertainment Corporation under  a  Lease
Agreement  with  a  primary term of 15 years  and  annual  rental
payments of $129,168.

        On August 26, 1999, the Partnership purchased a Hollywood
Video  store  in  Muscle  Shoals, Alabama  for  $1,340,627.   The
property is leased to Hollywood Entertainment Corporation under a
Lease Agreement with a primary term of 15 years and annual rental
payments of $129,659.

        On  September 28, 1999, the Partnership purchased  a  53%
interest  in a Marie Callender's restaurant in Henderson,  Nevada
for  $937,897.   The property was leased to Marie  Callender  Pie
Shops,  Inc. under a Lease Agreement with a primary  term  of  15
years  and  annual  rental payments of  $85,595.   The  remaining
interest in the property was purchased by AEI Net Lease Income  &
Growth  Fund  XIX  Limited  Partnership,  an  affiliate  of   the
Partnership.

        On  September 28, 2000, the Partnership purchased  a  40%
interest in a Children's World daycare center in Golden, Colorado
for  $671,846.   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  $66,344.   The  remaining
interests in the property were purchased by AEI Private Net Lease
Millennium  Fund  Limited Partnership and AEI Private  Net  Lease
Fund 1998 Limited Partnership, affiliates of the Partnership.

        On  May 8, 2000, the Partnership purchased a 48% interest
in  a parcel of land in Austin, Texas for $652,800.  The land  is
leased  to  Razzoo's, Inc. (RI) under a Lease  Agreement  with  a
primary  term of 15 years and annual rental payments of  $55,488.
Effective  October  4,  2000, the annual rent  was  increased  to
$63,648.   Simultaneously  with the purchase  of  the  land,  the
Partnership entered into a Development Financing Agreement  under
which   the  Partnership  will  advance  funds  to  RI  for   the
construction  of  a  Razzoo's restaurant on  the  site.   Through
December 31, 2000, the Partnership had advanced $616,286 for  the
construction  of  the property and was charging interest  on  the
advances  at  a  rate of 8.5%.  Effective October  4,  2000,  the
interest rate was increased to 9.75%.  The Partnership's share of
the total purchase price, including the cost of the land, will be
approximately  $1,646,000.  After the construction  is  complete,
the  Lease  Agreement  will be amended to require  annual  rental
payments  of approximately $160,500.  The remaining interests  in
the  property  are  owned  by AEI Real  Estate  Fund  XV  Limited
Partnership,  AEI Real Estate Fund XVII Limited Partnership,  and
AEI  Net  Lease  Income  & Growth Fund XIX  Limited  Partnership,
affiliates of the Partnership.

         During  2000,  the  Partnership  sold  61.9344%  of  the
Children's   World  in  DePere,  Wisconsin,  in   four   separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $845,347, which resulted in a
total   net  gain  of  $127,553.   The  total  cost  and  related
accumulated  depreciation of the interests sold was $735,441  and
$17,647, respectively.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

        During  2000,  the Partnership sold its interest  in  the
Marie  Callender's restaurant, in five separate transactions,  to
unrelated third parties.  The Partnership received total net sale
proceeds  of  $1,035,799, which resulted in a total net  gain  of
$108,736.  The total cost and related accumulated depreciation of
the interests sold was $937,897 and $10,834, respectively.

         During  2000,  the  Partnership  sold  35.5084%  of  the
Hollywood  Video  store in Saraland, Alabama, in  three  separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $595,850, which resulted in a
total   net  gain  of  $121,431.   The  total  cost  and  related
accumulated  depreciation of the interests sold was $489,267  and
$14,848, respectively.

        Subsequent to December 31, 2000, the Partnership sold  an
additional 14.1301% of the Children's World in DePere,  Wisconsin
to  an unrelated third party.  The Partnership received net  sale
proceeds of approximately $179,000, which resulted in a net  gain
of approximately $19,000.

Major Tenants

        During  2000,  three  of the Partnership's  lessees  each
contributed  more  than  ten percent of the  Partnership's  total
rental  revenue.  The major tenants in aggregate contributed  72%
of  the  Partnership's  total rental  revenue  in  2000.   It  is
anticipated that, based on minimum rental payments required under
the  leases,  each major tenant will continue to contribute  more
than  ten percent of the Partnership's rental income in 2001  and
future   years.   Any  failure  of  these  major  tenants   could
materially   affect  the  Partnership's  net  income   and   cash
distributions.

Competition

        The  Partnership 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  Partnership.  At the time  the  Partnership
elects to dispose of its properties, the Partnership will  be  in
competition  with other persons and entities to find  buyers  for
its properties.

Employees

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

ITEM 2.   DESCRIPTION OF PROPERTIES.

Investment Objectives

        The  Partnership's investment objectives are  to  acquire
existing or newly-developed commercial properties throughout  the
United  States  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  Partnership
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 General  Partners
attempt  to  diversify the type and location of the Partnership's
properties.

ITEM 2.   DESCRIPTION OF PROPERTIES.  (Continued)

Description of Properties

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

        The  Partnership's properties are subject to the  general
competitive conditions incident to the ownership of single tenant
investment  real estate.  Since each property is leased  under  a
long-term   lease,   there  is  little  competition   until   the
Partnership  decides to sell the property.   At  this  time,  the
Partnership 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
Partnership would be competing with other real estate owners, who
have  property vacancies, to attract a new tenant  to  lease  the
property.   The Partnership'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 property that the
Partnership acquired and owned as of December 31, 2000.

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

TGI Friday's Restaurant
 Greensburg, PA                             Ohio Valley
 (40.0%)            12/10/97  $  668,144   Bistros, Inc.  $ 69,187    $38.35

Hollywood Video Store                       Hollywood
 Saraland, AL                             Entertainment
 (64.4916%)          1/26/99  $  888,624   Corporation    $ 83,592    $17.31

Champps Americana
 Restaurant
 Centerville, OH                           Americana
 (23.0%)             1/27/99  $  924,843  Dining Corp.    $ 93,256    $43.28

Arby's Restaurant                             RTM
 Homewood, AL         7/9/99  $1,392,592  Alabama, Inc.   $120,648    $37.05

Children's World                             ARAMARK
 Daycare Center                            Educational
 Abingdon, MD        7/14/99  $1,051,772  Resources, Inc. $ 91,677    $12.36

Children's World                             ARAMARK
 Daycare Center                            Educational
 Houston, TX         7/14/99  $  892,219  Resources, Inc. $ 79,093    $10.91

Children's World                             ARAMARK
 Daycare Center                            Educational
 Pearland, TX        7/14/99  $  943,415  Resources, Inc. $ 83,635    $11.01

ITEM 2.   DESCRIPTION OF PROPERTIES.  (Continued)

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

Children's World
 Daycare Center                              ARAMARK
 DePere, WI                                Educational
 (38.0656%)          7/14/99  $  452,011  Resources, Inc. $ 40,409    $10.43

                                            Hollywood
Hollywood Video Store                     Entertainment
 Minot, ND           7/16/99  $1,330,000   Corporation    $129,168    $17.21

                                            Hollywood
Hollywood Video Store                     Entertainment
 Muscle Shoals, AL   8/26/99  $1,340,626   Corporation    $129,659    $19.29

Tumbleweed Restaurant
 Fort Wayne, IN      8/31/99  $1,316,695 Tumbleweed, Inc. $133,560    $23.97

Children's World
 Daycare Center                              ARAMARK
 Golden CO                                 Educational
 (40.0%)             9/28/00  $  671,846  Resources, Inc. $ 66,344    $19.35

Razzoo's Restaurant
 Austin, TX
 (48.0%)
 (land only)(1)       5/8/00  $  629,302 Razzoo's, Inc.   $ 63,648    $13.53

(1) Restaurant was under construction as of December 31, 2000.

      The  properties  listed  above  with  a  partial  ownership
percentage  are  owned with affiliates of the Partnership  and/or
related  third  parties.   The  remaining  interest  in  the  TGI
Friday's restaurant is owned by AEI Real Estate Fund XVII Limited
Partnership.   The  remaining interests in the Champps  Americana
restaurant  are  owned  by  AEI Real  Estate  Fund  XVII  Limited
Partnership,  AEI Real Estate Fund XVIII Limited Partnership  and
AEI  Income & Growth Fund XXI Limited Partnership.  The remaining
interests  in the Hollywood Video store in Saraland, Alabama  and
the  Children's  World  daycare center in DePere,  Wisconsin  are
owned by unrelated third parties.  The remaining interests in the
Children's World daycare center in Golden, Colorado are owned  by
AEI  Private  Net  Lease Fund 1998 Limited  Partnership  and  AEI
Private  Net  Lease  Millennium Fund  Limited  Partnership.   The
remaining interests in the Razzoo's restaurant are owned  by  AEI
Real  Estate  Fund XV Limited Partnership, AEI Real  Estate  Fund
XVII  Limited Partnership and AEI Net Lease Income & Growth  Fund
XIX Limited Partnership.

        The Partnership accounts for properties owned as tenants-
in-common  with  affiliated Partnerships and/or  unrelated  third
parties  using  the  proportionate  consolidation  method.   Each
tenant-in-common  owns  a  separate, undivided  interest  in  the
properties.   Any  tenant-in-common that holds more  than  a  50%
interest  does  not control decisions over the  other  tenant-in-
common  interests.   The financial statements reflect  only  this
Partnership's percentage share of the properties' land,  building
and equipment, liabilities, revenues and expenses.

ITEM 2.   DESCRIPTION OF PROPERTIES.  (Continued)

        The  initial  Lease terms are 15 years,  except  for  the
Champps Americana and Arby's restaurants, which have Lease  terms
of 20 years.  The Leases contain renewal options which may extend
the  Lease  term an additional 15 years, except the TGI Friday's,
Arby's,  Razzoo's and Tumbleweed restaurants, which have  renewal
options that may extend the Lease term an additional 10 years and
the  Hollywood Video store in Saraland, Alabama which has renewal
options that may extend the Lease term an additional 20 years.

        Pursuant to the Lease Agreement, the tenants are required
to provide proof of adequate insurance coverage on the properties
they  occupy.   The General Partners believe the  properties  are
adequately covered by insurance and consider the properties to be
well-maintained and sufficient for the Partnership's operations.

         For  tax  purposes,  the  Partnership'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 Partnership has tax-exempt Partners, the
Partnership 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 is the
same as the basis for book depreciation purposes.

        Through  December 31, 2000, 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 PARTNERSHIP UNITS AND
          RELATED SECURITY HOLDER MATTERS.

        As of December 31, 2000 there were 739 holders record  of
the  registrant's Limited Partnership Units.  There is  no  other
class  of  security outstanding or authorized.  The  registrant's
Units  are  not  a traded security in any market.   However,  the
Partnership  may  acquire Units from Limited  Partners  who  have
tendered  their  Units to the Partnership.   Such  Units  may  be
acquired  at  a  discount.  The Partnership is not  obligated  to
purchase  in any year more than 5% of the total number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

        During  2000, seven Limited Partners redeemed a total  of
150.86  Partnership  Units for $113,871 in  accordance  with  the
Partnership Agreement.  In 1999, four Limited Partners redeemed a
total  of  109.04 Partnership Units for $87,231.  The redemptions
increase  the remaining Limited Partner's ownership  interest  in
the Partnership.

ITEM 5.   MARKET FOR THE REGISTRANT'S PARTNERSHIP UNITS AND
          RELATED SECURITY HOLDER MATTERS.  (Continued)

       Cash distributions of $33,384 and $35,826 were made to the
General Partners and $1,140,252 and $1,071,123 were made  to  the
Limited   Partners   in   2000  and  1999,   respectively.    The
distributions  were made on a quarterly basis and  represent  Net
Cash  Flow,  as  defined,  or  a partial  return  of  contributed
capital,  except as discussed below.  These distributions  should
not  be  compared  with  dividends  paid  on  capital  stock   by
corporations.

       As part of the Limited Partnership distributions discussed
above,  the  Partnership distributed $259,449  of  proceeds  from
property  sales in 2000.  The distributions reduced  the  Limited
Partner's Adjusted Capital Contribution.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.

Results of Operations

        For  the  years  ended December 31, 2000  and  1999,  the
Partnership recognized rental income of $1,144,982 and  $713,963,
respectively.   During the same periods, the  Partnership  earned
$80,227  and  $270,895, respectively, in investment  income  from
subscription  proceeds  and property sales  proceeds  which  were
invested  in a short-term money market account.  This  investment
income constituted 7% and 28% respectively, of total income.  The
percentage  of  total  income represented  by  investment  income
declines as subscription proceeds are invested in properties.

        During  the years ended December 31, 2000 and  1999,  the
Partnership   paid   Partnership   administration   expenses   to
affiliated parties of $164,339 and $165,419, respectively.  These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and correspondence to the Limited Partners.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $29,932 and $27,348, respectively.   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, 2000, the Partnership's annualized cash
distribution  rate  was  7.1%,  based  on  the  Adjusted  Capital
Contribution.     Pursuant   to   the   Partnership    Agreement,
distributions of Net Cash Flow were allocated 97% to the  Limited
Partners and 3% to the General Partners.

       Since the Partnership has only recently purchased its real
estate,  inflation  has  had  a minimal  effect  on  income  from
operations.   The  Leases contain cost of living increases  which
will result in an increase in rental income over the term of  the
Leases.   Inflation also may cause the Partnership's real  estate
to  appreciate in value.  However, inflation and changing  prices
may  also have an adverse impact on the operating margins of  the
properties' tenants which could impair their ability to pay  rent
and subsequently reduce the Partnership's Net Cash Flow available
for distributions.

Liquidity and Capital Resources

       During the year ended December 31, 2000, the Partnership's
cash  balances  increased $324,878 as a result of cash  generated
from  the  sale of property, which was partially offset  by  cash
used  to purchase property and distributions of net sale proceeds
to  the  Partners.   Net  cash provided by  operating  activities
increased from $708,899 in 1999 to $1,009,525 in 2000 as a result
of  an  increase in income in 2000 and net timing differences  in
the  collection of payments from the lessees and the  payment  of
expenses.

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

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from  the  sale of real estate.  During the years ended  December
31,  2000  and  1999,  the  Partnership expended  $1,917,434  and
$10,303,009,   respectively,  to  invest   in   real   properties
(inclusive  of  acquisition expenses).   During  the  year  ended
December  31, 2000, the Partnership generated cash flow from  the
sale of real estate of $2,476,996.

        On  June 29, 1998, the Partnership purchased a parcel  of
land  in  Centerville, Ohio for $1,850,988.  On August 28,  1998,
the  Partnership assigned, for diversification purposes,  77%  of
its  interest  in the property to three affiliated  partnerships.
The land is leased to Americana Dining Corporation (ADC) under  a
Lease Agreement with a primary term of 20 years and annual rental
payments  of  $29,801.  Effective December 25, 1998,  the  annual
rent  was increased to $44,701.  Simultaneously with the purchase
of the land, the Partnership entered into a Development Financing
Agreement under which the Partnership advanced funds to  ADC  for
the  construction of a Champps Americana restaurant on the  site.
Initially, the Partnership charged interest on the advances at  a
rate of 7.0%.  Effective December 25, 1998, the interest rate was
increased  to 10.5%.  On January 27, 1999, after the  development
was  completed, the Lease Agreement was amended to require annual
rental  payments of $93,256.  The Partnership's  share  of  total
acquisition costs, including the cost of the land, was  $924,843.
The  remaining interests in the property are owned  by  AEI  Real
Estate Fund XVII Limited Partnership, AEI Real Estate Fund  XVIII
Limited  Partnership  and AEI Income & Growth  Fund  XXI  Limited
Partnership, affiliates of the Partnership.

        On  November 20, 1998, the Partnership purchased a parcel
of land in Homewood, Alabama for $696,000.  The land is leased to
RTM  Alabama, Inc. (RTM) under a Lease Agreement with  a  primary
term   of  20  years  and  annual  rental  payments  of  $46,980.
Simultaneously  with  the purchase of the land,  the  Partnership
entered  into a Development Financing Agreement under  which  the
Partnership  advanced  funds to RTM for the  construction  of  an
Arby's  restaurant on the site.  The Partnership charged interest
on  the advances at a rate of 6.75%.  On July 9, 1999, after  the
development  was completed, the Lease Agreement  was  amended  to
require  annual  rental payments of $87,135.   Total  acquisition
costs, including the cost of the land, were $1,392,592.

        On  November 25, 1998, the Partnership purchased a parcel
of  land in Fort Wayne, Indiana for $470,000.  The land is leased
to  Tumbleweed, Inc. (TWI) under a Lease Agreement with a primary
term   of  15  years  and  annual  rental  payments  of  $39,950.
Effective  March  24,  1999, the annual  rent  was  increased  to
$48,175.   Simultaneously  with the purchase  of  the  land,  the
Partnership entered into a Development Financing Agreement  under
which  the Partnership advanced funds to TWI for the construction
of   a  Tumbleweed  restaurant  on  the  site.   Initially,   the
Partnership charged interest on the advances at a rate  of  8.5%.
Effective  March  24, 1999, the interest rate  was  increased  to
10.25%.  On August 31, 1999, after the development was completed,
the Lease Agreement was amended to require annual rental payments
of  $130,941.  Total acquisition costs, including the cost of the
land, were $1,316,695.

       On January 26, 1999, the Partnership purchased a Hollywood
Video store in Saraland, Alabama for $1,377,891.  The property is
leased  to  Hollywood Entertainment Corp. under a Lease Agreement
with  a  primary term of 15 years and annual rental  payments  of
$129,617.

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

         On   July  14,  1999,  the  Partnership  purchased  four
Children's  World daycare centers located in Abingdon,  Maryland,
Houston,  Texas,  Pearland,  Texas and  DePere,  Wisconsin.   The
properties were purchased for $1,051,772, $892,219, $943,415  and
$1,187,452, respectively.  The properties are leased  to  ARAMARK
Educational  Resources, Inc. under Lease Agreements with  primary
terms of 15 years and annual rental payments of $91,677, $79,093,
$83,635 and $106,157, respectively.

        On  July  16, 1999, the Partnership purchased a Hollywood
Video  store in Minot, North Dakota for $1,330,000.  The property
is  leased to Hollywood Entertainment Corporation under  a  Lease
Agreement  with  a  primary term of 15 years  and  annual  rental
payments of $129,168.

        On August 26, 1999, the Partnership purchased a Hollywood
Video  store  in  Muscle  Shoals, Alabama  for  $1,340,627.   The
property is leased to Hollywood Entertainment Corporation under a
Lease Agreement with a primary term of 15 years and annual rental
payments of $129,659.

        On  September 28, 1999, the Partnership purchased  a  53%
interest  in a Marie Callender's restaurant in Henderson,  Nevada
for  $937,897.   The property was leased to Marie  Callender  Pie
Shops,  Inc. under a Lease Agreement with a primary  term  of  15
years  and  annual  rental payments of  $85,595.   The  remaining
interest in the property was purchased by AEI Net Lease Income  &
Growth  Fund  XIX  Limited  Partnership,  an  affiliate  of   the
Partnership.

        On  September 28, 2000, the Partnership purchased  a  40%
interest in a Children's World daycare center in Golden, Colorado
for  $671,846.   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  $66,344.   The  remaining
interests in the property were purchased by AEI Private Net Lease
Millennium  Fund  Limited Partnership and AEI Private  Net  Lease
Fund 1998 Limited Partnership, affiliates of the Partnership.

        On  May 8, 2000, the Partnership purchased a 48% interest
in  a parcel of land in Austin, Texas for $652,800.  The land  is
leased  to  Razzoo's, Inc. (RI) under a Lease  Agreement  with  a
primary  term of 15 years and annual rental payments of  $55,488.
Effective  October  4,  2000, the annual rent  was  increased  to
$63,648.   Simultaneously  with the purchase  of  the  land,  the
Partnership entered into a Development Financing Agreement  under
which   the  Partnership  will  advance  funds  to  RI  for   the
construction  of  a  Razzoo's restaurant on  the  site.   Through
December 31, 2000, the Partnership had advanced $616,286 for  the
construction  of  the property and was charging interest  on  the
advances  at  a  rate of 8.5%.  Effective October  4,  2000,  the
interest rate was increased to 9.75%.  The Partnership's share of
the total purchase price, including the cost of the land, will be
approximately  $1,646,000.  After the construction  is  complete,
the  Lease  Agreement  will be amended to require  annual  rental
payments  of approximately $160,500.  The remaining interests  in
the  property  are  owned  by AEI Real  Estate  Fund  XV  Limited
Partnership,  AEI Real Estate Fund XVII Limited Partnership,  and
AEI  Net  Lease  Income  & Growth Fund XIX  Limited  Partnership,
affiliates of the Partnership.

         During  2000,  the  Partnership  sold  61.9344%  of  the
Children's   World  in  DePere,  Wisconsin,  in   four   separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $845,347, which resulted in a
total   net  gain  of  $127,553.   The  total  cost  and  related
accumulated  depreciation of the interests sold was $735,441  and
$17,647, respectively.

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

        During  2000,  the Partnership sold its interest  in  the
Marie  Callender's restaurant, in five separate transactions,  to
unrelated third parties.  The Partnership received total net sale
proceeds  of  $1,035,799, which resulted in a total net  gain  of
$108,736.  The total cost and related accumulated depreciation of
the interests sold was $937,897 and $10,834, respectively.

         During  2000,  the  Partnership  sold  35.5084%  of  the
Hollywood  Video  store in Saraland, Alabama, in  three  separate
transactions,  to  unrelated  third  parties.   The   Partnership
received total net sale proceeds of $595,850, which resulted in a
total   net  gain  of  $121,431.   The  total  cost  and  related
accumulated  depreciation of the interests sold was $489,267  and
$14,848, respectively.

        Subsequent to December 31, 2000, the Partnership sold  an
additional 14.1301% of the Children's World in DePere,  Wisconsin
to  an unrelated third party.  The Partnership received net  sale
proceeds of approximately $179,000, which resulted in a net  gain
of approximately $19,000.

        During 2000, the Partnership distributed $262,069 of  the
net sale proceeds to the Limited and General Partners as part  of
their  regular quarterly distributions which represented a return
of capital of $15.54 per Limited Partnership Unit.  The remaining
net  sale  proceeds  will  either  be  reinvested  in  additional
property or distributed to the Partners in the future.

       The Partnership's primary use of cash flow is distribution
and  redemption  payments to Partners.  The Partnership  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.  The Partnership attempts to maintain a  stable
distribution  rate from quarter to quarter.  Redemption  payments
are paid to redeeming Partners on a semi-annual basis.

        The  Partnership may acquire Units from Limited  Partners
who have tendered their Units to the Partnership.  Such Units may
be  acquired at a discount.  The Partnership is not obligated  to
purchase  in  any  year  more than 5%  of  the  number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

        During  2000, seven Limited Partners redeemed a total  of
150.86  Partnership  Units for $113,871 in  accordance  with  the
Partnership  Agreement.   The Partnership  acquired  these  Units
using  Net  Cash  Flow from operations.  In  1999,  four  Limited
Partners  redeemed  a  total  of  109.04  Partnership  Units  for
$87,231.    The   redemptions  increase  the  remaining   Limited
Partner's ownership interest in the Partnership.

       The continuing rent payments from the properties, together
with  cash  generated from property sales, should be adequate  to
fund   continuing   distributions  and  meet  other   Partnership
obligations on both a short-term and long-term basis.

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

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 Partnership, must be evaluated  in
the   context  of  a  number  of  factors  that  may  affect  the
Partnership's  financial  condition and  results  of  operations,
including the following:

    Market  and  economic conditions which affect the  value
    of  the  properties the Partnership 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 General Partners of  conflicts  with
    which they may be confronted;

    the   success  of  the  General  Partners  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 Partnership operate.


ITEM 7.   FINANCIAL STATEMENTS.

       See accompanying index to financial statements.





        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  INDEX TO FINANCIAL STATEMENTS






Report of Independent Auditors

Balance Sheet as of December 31, 2000 and 1999

Statements for the Years Ended December 31, 2000 and 1999:

     Income

     Cash Flows

     Changes in Partners' Capital

Notes to Financial Statements





                 REPORT OF INDEPENDENT AUDITORS


To the Partners:
AEI Income & Growth Fund XXII Limited Partnership
St. Paul, Minnesota



     We have audited the accompanying balance sheet of AEI Income
&  Growth  Fund  XXII  Limited Partnership (a  Minnesota  limited
partnership)  as  of December 31, 2000 and 1999 and  the  related
statements of income, cash flows and changes in partners' capital
for  the  years then ended.  These financial statements  are  the
responsibility    of   the   Partnership's    management.     Our
responsibility  is  to  express an  opinion  on  these  financial
statements based on our audits.

      We  conducted  our  audits  in  accordance  with  generally
accepted  auditing standards.  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 XXII Limited  Partnership  as  of
December 31, 2000 and 1999, and the results of its operations and
its  cash  flows  for  the years then ended, in  conformity  with
generally accepted accounting principles.




Minneapolis, Minnesota      /s/BOULAY, HEUTMAKER, ZIBELL & CO. P.L.L.P.
January  25, 2001              Boulay, Heutmaker, Zibell & Co. P.L.L.P.
                               Certified Public Accountants

<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                          BALANCE SHEET

                           DECEMBER 31

                             ASSETS

                                                    2000           1999

CURRENT ASSETS:
  Cash and Cash Equivalents                     $   572,279    $   247,401
  Receivables                                        28,040              0
                                                 -----------    -----------
      Total Current Assets                          600,319        247,401
                                                 -----------    -----------
INVESTMENTS IN REAL ESTATE:
  Land                                            5,010,783      4,981,547
  Buildings and Equipment                         7,491,306      8,382,000
  Construction in Progress                          616,286              0
  Accumulated Depreciation                         (477,061)      (201,635)
                                                 -----------    -----------
      Net Investments in Real Estate             12,641,314     13,161,912
                                                 -----------    -----------
           Total  Assets                        $13,241,633    $13,409,313
                                                 ===========    ===========


                      LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.          $    21,606    $    14,979
  Distributions Payable                             300,145        256,847
                                                 -----------    -----------
      Total Current Liabilities                     321,751        271,826
                                                 -----------    -----------
PARTNERS' CAPITAL (DEFICIT):
  General Partners                                  (40,033)       (38,746)
  Limited Partners, $1,000 Unit Value;
   24,000 Units authorized; 16,917 Units issued;
   16,657 and 16,808 Units outstanding in
   2000 and 1999, respectively                   12,959,915     13,176,233
                                                 -----------    -----------
      Total Partners' Capital                    12,919,882     13,137,487
                                                 -----------    -----------
        Total Liabilities and Partners' Capital $13,241,633    $13,409,313
                                                 ===========    ===========

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

                       STATEMENT OF INCOME

                 FOR THE YEARS ENDED DECEMBER 31


                                                     2000           1999

INCOME:
  Rent                                          $ 1,144,982     $   713,963
  Investment Income                                  80,227         270,895
                                                 -----------     -----------
      Total Income                                1,225,209         984,858
                                                 -----------     -----------

EXPENSES:
  Partnership Administration - Affiliates           164,339         165,419
  Partnership Administration and Property
     Management - Unrelated Parties                  29,932          27,348
  Depreciation                                      318,756         184,942
                                                 -----------     -----------
      Total Expenses                                513,027         377,709
                                                 -----------     -----------

OPERATING INCOME                                    712,182         607,149

GAIN ON SALE OF REAL ESTATE                         357,720               0
                                                 -----------     -----------
NET INCOME                                      $ 1,069,902     $   607,149
                                                 ===========     ===========

NET INCOME ALLOCATED:
  General Partners                              $    32,097     $    18,215
  Limited Partners                                1,037,805         588,934
                                                 -----------     -----------
                                                $ 1,069,902     $   607,149
                                                 ===========     ===========

NET INCOME PER LIMITED PARTNERSHIP UNIT
 (16,730 and 16,779 weighted average Units
 outstanding in 2000 and 1999, respectively)    $     62.03     $     35.10
                                                 ===========     ===========


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

                     STATEMENT OF CASH FLOWS

                 FOR THE YEARS ENDED DECEMBER 31


                                                      2000         1999

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                      $ 1,069,902   $   607,149

  Adjustments To Reconcile Net Income (Loss)
  To Net Cash Provided By Operating Activities:
     Depreciation                                     318,756       184,942
     Gain on Sale of Real Estate                     (357,720)            0
     (Increase) Decrease in Receivables               (28,040)       46,634
     Increase (Decrease) in Payable to
        AEI Fund Management, Inc.                       6,627      (129,826)
                                                   -----------   -----------
       Total Adjustments                              (60,377)      101,750
                                                   -----------   -----------
       Net Cash Provided By
           Operating Activities                     1,009,525       708,899
                                                   -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Investments in Real Estate                       (1,917,434)  (10,303,009)
  Proceeds from Sale of Real Estate                 2,476,996             0
                                                   -----------   -----------
       Net Cash Provided By (Used For)
           Investing Activities                       559,562   (10,303,009)
                                                   -----------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Capital Contributions from Limited Partners               0       972,059
  Organization and Syndication Costs                        0      (143,694)
  Increase in Distributions Payable                    43,298           884
  Distributions to Partners                        (1,170,114)   (1,104,251)
  Redemption Payments                                (117,393)      (89,929)
                                                   -----------   -----------
       Net Cash Used For
         Financing Activities                      (1,244,209)     (364,931)
                                                   -----------   -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                               324,878    (9,959,041)

CASH AND CASH EQUIVALENTS, beginning of period        247,401    10,206,442
                                                   -----------   -----------
CASH AND CASH EQUIVALENTS, end of period          $   572,279   $   247,401
                                                   ===========   ===========


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

            STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                 FOR THE YEARS ENDED DECEMBER 31


                                                                     Limited
                                                                   Partnership
                             General      Limited                     Units
                             Partners     Partners       Total     Outstanding


BALANCE, December 31, 1998  $(21,135)   $12,917,288   $12,896,153   15,945.16

  Capital Contributions            0        972,059       972,059      972.06

  Organization &
   Syndication Costs               0       (143,694)     (143,694)

  Distributions              (33,128)    (1,071,123)   (1,104,251)

  Redemption Payments         (2,698)       (87,231)      (89,929)    (109.04)

  Net Income                  18,215        588,934       607,149
                             ---------   -----------   -----------  ----------
BALANCE, December 31, 1999   (38,746)    13,176,233    13,137,487   16,808.18

  Distributions              (29,862)    (1,140,252)   (1,170,114)

  Redemption Payments         (3,522)      (113,871)     (117,393)    (150.86)

  Net Income                  32,097      1,037,805     1,069,902
                             ---------   -----------   -----------  ----------
BALANCE, December 31, 2000  $(40,033)   $12,959,915   $12,919,882   16,657.32
                             =========   ===========   ===========  ==========


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

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(1)  Organization -

     AEI   Income   &   Growth  Fund  XXII  Limited   Partnership
     (Partnership)  was  formed to acquire and  lease  commercial
     properties   to   operating  tenants.    The   Partnership's
     operations  are  managed by AEI Fund  Management  XXI,  Inc.
     (AFM), the Managing General Partner.  Robert P. Johnson, the
     President  and  sole  shareholder  of  AFM,  serves  as  the
     Individual General Partner and an affiliate of AFM, AEI Fund
     Management,  Inc.  (AEI), performs  the  administrative  and
     operating functions for the Partnership.

     The   terms   of  the  Partnership  offering  call   for   a
     subscription  price of $1,000 per Limited Partnership  Unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced   operations   on  May  1,   1997   when   minimum
     subscriptions    of   1,500   Limited   Partnership    Units
     ($1,500,000) were accepted.  The offering terminated January
     9,  1999  when  the extended offering period  expired.   The
     Partnership  received subscriptions for  16,917.222  Limited
     Partnership Units ($16,917,222).

     Under  the  terms of the Limited Partnership Agreement,  the
     Limited  Partners and General Partners contributed funds  of
     $16,917,222  and  $1,000, respectively.  During  operations,
     any  Net  Cash Flow, as defined, which the General  Partners
     determine  to  distribute will be  distributed  97%  to  the
     Limited   Partners   and   3%  to  the   General   Partners.
     Distributions to Limited Partners will be made pro  rata  by
     Units.

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of properties which the General Partners determine
     to distribute will, after provisions for debts and reserves,
     be  paid  in  the following manner: (i) first,  99%  to  the
     Limited  Partners and 1% to the General Partners  until  the
     Limited  Partners  receive an amount  equal  to:  (a)  their
     Adjusted Capital Contribution plus (b) an amount equal to 9%
     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 Partners  and  10%  to  the
     General  Partners.   Distributions to the  Limited  Partners
     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  property,  will  be
     allocated  first  in the same ratio in  which,  and  to  the
     extent,  Net  Cash Flow is distributed to the  Partners  for
     such year.  Any additional profits will be allocated in  the
     same  ratio  as  the  last  dollar  of  Net  Cash  Flow   is
     distributed.   Net losses from operations will be  allocated
     99% to the Limited Partners and 1% to the General Partners.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(1)  Organization - (Continued)

     For  tax purposes, profits arising from the sale, financing,
     or  other  disposition  of property  will  be  allocated  in
     accordance  with the Partnership Agreement as  follows:  (i)
     first,  to  those  partners with deficit balances  in  their
     capital  accounts  in an amount equal to  the  sum  of  such
     deficit  balances; (ii) second, 99% to the Limited  Partners
     and  1%  to the General Partners until the aggregate balance
     in  the Limited Partners' capital accounts equals the sum of
     the Limited Partners' Adjusted Capital Contributions plus an
     amount  equal  to 9% 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
     Partners  and 10% to the General Partners.  Losses  will  be
     allocated 98% to the Limited Partners and 2% to the  General
     Partners.

     The  General Partners are not required to currently  fund  a
     deficit   capital   balance.   Upon   liquidation   of   the
     Partnership or withdrawal by a General Partner, the  General
     Partners will contribute to the Partnership an amount  equal
     to  the  lesser  of  the deficit balances in  their  capital
     accounts  or  1%  of  total Limited  Partners'  and  General
     Partners' capital contributions.

(2)  Summary of Significant Accounting Policies -

     Financial Statement Presentation

       The  accounts  of  the Partnership 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  Partnership 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  Partnership'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 XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(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 Partnership for federal  income
       tax  reporting  purposes is includable in the  income  tax
       returns of the partners.  Accordingly, no recognition  has
       been  given to income taxes in the accompanying  financial
       statements.

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

     Real Estate

       The  Partnership's real estate is leased under triple  net
       leases  classified as operating leases.   The  Partnership
       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  Partnership  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  Partnership recognizes an impairment  loss
       by  the  amount  by  which  the  carrying  amount  of  the
       property exceeds the fair value of the property.

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

       The   buildings  and  equipment  of  the  Partnership  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 XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

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

       The  Partnership accounts for properties owned as tenants-
       in-common  with  affiliated Partnerships and/or  unrelated
       third   parties   using  the  proportionate  consolidation
       method.   Each tenant-in-common owns a separate, undivided
       interest  in  the  properties.  Any tenant-in-common  that
       holds  more than a 50% interest does not control decisions
       over  the other tenant-in-common interests.  The financial
       statements  reflect  only  this  Partnership's  percentage
       share  of  the  properties' land, building and  equipment,
       liabilities, revenues and expenses.

(3)  Related Party Transactions -

     The  Partnership  owns a 40.0% interest in  a  TGI  Friday's
     restaurant.   The  remaining interest in  this  property  is
     owned  by AEI Real Estate Fund XVII Limited Partnership,  an
     affiliate of the Partnership.  The Partnership owns a  23.0%
     interest  in a Champps Americana restaurant.  The  remaining
     interests in this property are owned by AEI Real Estate Fund
     XVII Limited Partnership, AEI Real Estate Fund XVIII Limited
     Partnership  and  AEI  Income  &  Growth  Fund  XXI  Limited
     Partnership, affiliates of the Partnership.  The Partnership
     owns  a  40.0% interest in a Children's World daycare center
     in  Golden,  Colorado.   The  remaining  interests  in  this
     property  are  owned  by AEI Private  Net  Lease  Fund  1998
     Limited  Partnership  and AEI Private Net  Lease  Millennium
     Fund  Limited  Partnership, affiliates of  the  Partnership.
     The   Partnership  owns  a  48.0%  interest  in  a  Razzoo's
     restaurant   under  construction  in  Austin,  Texas.    The
     remaining  interest in this property is owned  by  AEI  Real
     Estate  Fund  XV Limited Partnership, AEI Real  Estate  Fund
     XVII  Limited Partnership and AEI Net Lease Income &  Growth
     Fund XIX Limited Partnership, affiliates of the Partnership.
     The   Partnership  owned  a  53.0%  interest  in   a   Marie
     Callender's  restaurant.  The remaining  interests  in  this
     property are owned by AEI Net Lease Income & Growth Fund XIX
     Limited Partnership and unrelated third parties.

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

                                      Total Incurred by the Partnership
                                       for the Years Ended December 31

                                                  2000          1999
a.AEI and AFM are reimbursed for all costs
  incurred in connection with managing the
  Partnership's operations, maintaining the
  Partnership's books and communicating
  the results of operations to the Limited
  Partners.                                    $ 164,339     $ 165,419
                                                ========      ========



        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(3)  Related Party Transactions - (Continued)

                                      Total Incurred by the Partnership
                                       for the Years Ended December 31

                                                  2000          1999
b.AEI and AFM are reimbursed for all direct
  expenses they have paid on the Partnership's
  behalf to third parties relating to Partnership
  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.          $  29,932     $  27,348
                                                ========      ========

c.AEI is reimbursed for all costs and direct
  expenses incurred by it in acquiring properties
  on behalf of the Partnership.  The amounts are net
  of financing and commitment fees and expense
  reimbursements received by the Partnership from
  the lessees in the amount of $45,923 and $313,652
  for 2000 and 1999, respectively.             $(23,489)     $(125,292)
                                                ========      ========

d.AEI is reimbursed for all costs incurred in
  connection with the sale of property.        $  95,103     $       0
                                                ========      ========

e.ASI was the underwriter of the Partnership 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 8% for sale of certain
  subscription Units ($80 per unit sold, of which it
  re-allowed up to $80 per unit to other participating
  broker/dealers).  ASI also received a 2%
  non-accountable expense allowance for all
  Units it sold through broker/dealers.
  These costs are treated as a reduction
  of partners' capital.                        $       0     $  97,205
                                                ========      ========

f.AEI is reimbursed for all costs incurred in
  connection with managing the Partnership's
  offering and organization.                   $       0     $  43,726
                                                ========      ========


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(3)  Related Party Transactions - (Continued)

                                      Total Incurred by the Partnership
                                       for the Years Ended December 31

                                                  2000          1999
g.AEI is reimbursed for all direct expenses it
  has paid on the Partnership's behalf to third
  parties relating to the offering and organization
  of the Partnership.  These expenses included
  printing costs, legal and filing fees, direct
  administrative costs, underwriting costs and
  due diligence fees.                          $       0     $   2,763
                                                ========      ========

     The  payable  to  AEI Fund Management, Inc.  represents  the
     balance due for the services described in 3a, b, c, d, f and
     g.   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  Partnership  leases its properties to  various  tenants
     through 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 of the property.  The initial  Lease
     terms  are  15  years, except for the Champps Americana  and
     Arby's restaurants which have Lease terms of 20 years.   The
     Leases  contain renewal options which may extend  the  Lease
     term  an  additional  15  years, except  the  TGI  Friday's,
     Arby's,  Razzoo's  and  Tumbleweed restaurants,  which  have
     renewal options that may extend the Lease term an additional
     10 years, and the Hollywood Video store in Saraland, Alabama
     which has renewal options that may extend the Lease term  an
     additional 20 years.  The Leases contain rent clauses  which
     entitle the Partnership to receive additional rent in future
     years based on stated rent increases.

     The  Partnership's  properties are all  commercial,  single-
     tenant buildings and were constructed and acquired in  1997,
     1998, 1999 or 2000.  There have been no costs capitalized as
     improvements subsequent to the acquisition.

     The   cost   of   the   property  and  related   accumulated
     depreciation at December 31, 2000 are as follows:


                                Buildings and               Accumulated
Property                Land      Equipment        Total    Depreciation

TGI Friday's,
 Greensburg, PA     $  295,020  $  373,124    $   668,144    $   48,743
Hollywood Video,
 Saraland, AL          369,668     518,956        888,624        40,652
Champps Americana,
 Centerville, OH       468,050     456,793        924,843        39,435


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(4)  Investments in Real Estate - (Continued)

                                Buildings and               Accumulated
Property                Land      Equipment        Total    Depreciation

Arby's, Homewood, AL   748,169     644,423      1,392,592        51,256
Children's World,
 Abingdon, MD          208,416     843,356      1,051,772        49,196
Children's World,
 Houston, TX           124,577     767,642        892,219        44,779
Children's World,
 Pearland, TX          204,105     739,310        943,415        43,126
Children's World,
 DePere, WI            100,564     351,447        452,011        20,501
Hollywood Video,
 Minot, ND             619,597     710,403      1,330,000        41,440
Hollywood Video,
   Muscle Shoals, AL   600,315     740,311      1,340,626        40,717
Tumbleweed,
 Fort Wayne, IN        489,027     827,668      1,316,695        52,037
Children's World,
 Golden, CO            153,973     517,873        671,846         5,179
Razzoo's, Austin, TX   629,302           0        629,302             0
                     ----------  ----------    -----------    ----------
                    $5,010,783  $7,491,306    $12,502,089    $  477,061
                     ==========  ==========    ===========    ==========


     On June 29, 1998, the Partnership purchased a parcel of land
     in  Centerville, Ohio for $1,850,988.  On August  28,  1998,
     the  Partnership assigned, for diversification purposes, 77%
     of   its  interest  in  the  property  to  three  affiliated
     partnerships.   The  land  is  leased  to  Americana  Dining
     Corporation  (ADC) under a Lease Agreement  with  a  primary
     term  of  20  years and annual rental payments  of  $29,801.
     Effective  December 25, 1998, the annual rent was  increased
     to  $44,701.  Simultaneously with the purchase of the  land,
     the   Partnership  entered  into  a  Development   Financing
     Agreement under which the Partnership advanced funds to  ADC
     for  the  construction of a Champps Americana restaurant  on
     the  site.   Initially, the Partnership charged interest  on
     the  advances  at  a rate of 7.0%.  Effective  December  25,
     1998,  the interest rate was increased to 10.5%.  On January
     27,  1999,  after the development was completed,  the  Lease
     Agreement  was amended to require annual rental payments  of
     $93,256.   The  Partnership's  share  of  total  acquisition
     costs, including the cost of the land, was $924,843.

     On  November 20, 1998, the Partnership purchased a parcel of
     land  in Homewood, Alabama for $696,000.  The land is leased
     to  RTM  Alabama, Inc. (RTM) under a Lease Agreement with  a
     primary  term  of  20  years and annual rental  payments  of
     $46,980.  Simultaneously with the purchase of the land,  the
     Partnership  entered into a Development Financing  Agreement
     under  which the Partnership advanced funds to RTM  for  the
     construction  of  an Arby's restaurant  on  the  site.   The
     Partnership charged interest on the advances at  a  rate  of
     6.75%.    On  July  9,  1999,  after  the  development   was
     completed, the Lease Agreement was amended to require annual
     rental   payments  of  $87,135.   Total  acquisition  costs,
     including the cost of the land, were $1,392,592.

        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(4)  Investments in Real Estate - (Continued)

     On  November 25, 1998, the Partnership purchased a parcel of
     land  in  Fort  Wayne, Indiana for $470,000.   The  land  is
     leased  to  Tumbleweed, Inc. (TWI) under a  Lease  Agreement
     with  a  primary term of 15 years and annual rental payments
     of  $39,950.  Effective March 24, 1999, the annual rent  was
     increased  to $48,175.  Simultaneously with the purchase  of
     the   land,  the  Partnership  entered  into  a  Development
     Financing  Agreement  under which the  Partnership  advanced
     funds to TWI for the construction of a Tumbleweed restaurant
     on the site.  Initially, the Partnership charged interest on
     the  advances at a rate of 8.5%.  Effective March 24,  1999,
     the  interest rate was increased to 10.25%.  On  August  31,
     1999,   after  the  development  was  completed,  the  Lease
     Agreement  was amended to require annual rental payments  of
     $130,941.   Total acquisition costs, including the  cost  of
     the land, were $1,316,695.

     On  January 26, 1999, the Partnership purchased a  Hollywood
     Video  store  in  Saraland,  Alabama  for  $1,377,891.   The
     property is leased to Hollywood Entertainment Corp. under  a
     Lease  Agreement with a primary term of 15 years and  annual
     rental payments of $129,617.

     On  July 14, 1999, the Partnership purchased four Children's
     World   daycare  centers  located  in  Abingdon,   Maryland,
     Houston, Texas, Pearland, Texas and DePere, Wisconsin.   The
     properties were purchased for $1,051,772, $892,219, $943,415
     and $1,187,452, respectively.  The properties are leased  to
     ARAMARK  Educational Resources, Inc. under Lease  Agreements
     with primary terms of 15 years and annual rental payments of
     $91,677, $79,093, $83,635 and $106,157, respectively.

     On  July  16,  1999, the Partnership purchased  a  Hollywood
     Video  store  in  Minot, North Dakota for  $1,330,000.   The
     property  is  leased to Hollywood Entertainment  Corporation
     under a Lease Agreement with a primary term of 15 years  and
     annual rental payments of $129,168.

     On  August  26, 1999, the Partnership purchased a  Hollywood
     Video  store in Muscle Shoals, Alabama for $1,340,627.   The
     property  is  leased to Hollywood Entertainment  Corporation
     under a Lease Agreement with a primary term of 15 years  and
     annual rental payments of $129,659.

     On  September  28,  1999, the Partnership  purchased  a  53%
     interest  in  a  Marie Callender's restaurant in  Henderson,
     Nevada  for  $937,897.  The property  was  leased  to  Marie
     Callender  Pie  Shops, Inc. under a Lease Agreement  with  a
     primary  term  of  15  years and annual rental  payments  of
     $85,595.

     On  September  28,  2000, the Partnership  purchased  a  40%
     interest  in  a Children's World daycare center  in  Golden,
     Colorado  for $671,846.  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
     $66,344.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(4)  Investments in Real Estate - (Continued)

     On  May 8, 2000, the Partnership purchased a 48% interest in
     a parcel of land in Austin, Texas for $652,800.  The land is
     leased to Razzoo's, Inc. (RI) under a Lease Agreement with a
     primary  term  of  15  years and annual rental  payments  of
     $55,488.   Effective October 4, 2000, the  annual  rent  was
     increased  to $63,648.  Simultaneously with the purchase  of
     the   land,  the  Partnership  entered  into  a  Development
     Financing Agreement under which the Partnership will advance
     funds to RI for the construction of a Razzoo's restaurant on
     the  site.   Through December 31, 2000, the Partnership  had
     advanced  $616,286 for the construction of the property  and
     was  charging  interest on the advances at a rate  of  8.5%.
     Effective  October 4, 2000, the interest rate was  increased
     to  9.75%.   The  Partnership's share of the total  purchase
     price, including the cost of the land, will be approximately
     $1,646,000.  After the construction is complete,  the  Lease
     Agreement will be amended to require annual rental  payments
     of approximately $160,500.

     During 2000, the Partnership sold 61.9344% of the Children's
     World  in  DePere, Wisconsin, in four separate transactions,
     to  unrelated third parties.  The Partnership received total
     net sale proceeds of $845,347, which resulted in a total net
     gain  of  $127,553.  The total cost and related  accumulated
     depreciation of the interests sold was $735,441 and $17,647,
     respectively.

     During 2000, the Partnership sold its interest in the  Marie
     Callender's  restaurant, in five separate  transactions,  to
     unrelated third parties.  The Partnership received total net
     sale  proceeds of $1,035,799, which resulted in a total  net
     gain  of  $108,736.  The total cost and related  accumulated
     depreciation of the interests sold was $937,897 and $10,834,
     respectively.

     During  2000, the Partnership sold 35.5084% of the Hollywood
     Video   store  in  Saraland,  Alabama,  in  three   separate
     transactions,  to unrelated third parties.  The  Partnership
     received total net sale proceeds of $595,850, which resulted
     in a total net gain of $121,431.  The total cost and related
     accumulated depreciation of the interests sold was  $489,267
     and $14,848, respectively.

     Subsequent  to  December 31, 2000, the Partnership  sold  an
     additional  14.1301%  of  the Children's  World  in  DePere,
     Wisconsin  to  an  unrelated third party.   The  Partnership
     received net sale proceeds of approximately $179,000,  which
     resulted in a net gain of approximately $19,000.

     During 2000, the Partnership distributed $262,069 of the net
     sale proceeds to the Limited and General Partners as part of
     their  regular  quarterly distributions which represented  a
     return  of  capital of $15.54 per Limited Partnership  Unit.
     The remaining net sale proceeds will either be reinvested in
     additional  property or distributed to the Partners  in  the
     future.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(4)  Investments in Real Estate - (Continued)

     The minimum future rentals on the Lease for years subsequent
     to December 31, 2000 are as follows:

                       2001           $ 1,185,225
                       2002             1,187,380
                       2003             1,189,559
                       2004             1,191,763
                       2005             1,193,991
                       Thereafter      11,235,463
                                       -----------
                                      $17,183,381
                                       ===========

     There were no contingent rents recognized in 2000 or 1999.

(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 Partnership's total
     rent revenue for the years ended December 31:


                                               2000         1999
      Tenants                   Industry

     Hollywood
      Entertainment Corporation  Retail      $ 358,208   $  225,593
     ARAMARK Educational
        Resources, Inc.          Child Care    332,610      167,682
     Tumbleweed, Inc.            Restaurant    131,814       74,106
     Americana Dining Corp.      Restaurant        N/A       89,862
                                              ---------   ----------

     Aggregate rent revenue of major tenants $ 822,632   $  557,243
                                              =========   ==========

     Aggregate rent revenue of major tenants as
     a percentage of total rent revenue             72%          78%
                                              =========   ==========

(6)  Partners' Capital -

     Cash  distributions of $33,384 and $35,826 were made to  the
     General Partners and $1,140,252 and $1,071,123 were made  to
     the  Limited Partners for the years ended December 31,  2000
     and 1999, respectively.  The Limited Partners' distributions
     represent  $68.16  and $63.84 per Limited  Partnership  Unit
     outstanding  using 16,730 and 16,779 weighted average  Units
     in 2000 and 1999, respectively.  The distributions represent
     $55.20  and  $29.91 per Unit of Net Income  and  $12.96  and
     $33.93 per Unit of return of contributed capital in 2000 and
     1999, respectively.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(6)  Partners' Capital - (Continued)

     As  part  of  the Limited Partners' distributions  discussed
     above, the Partnership distributed $259,449 of proceeds from
     property  sales  in  2000.   The distributions  reduced  the
     Limited Partner's Adjusted Capital Contribution.

     The  Partnership may acquire Units from Limited Partners who
     have tendered their Units to the Partnership. Such Units may
     be acquired at a discount.  The Partnership is not obligated
     to  purchase in any year more than 5% of the number of Units
     outstanding at the beginning of the year.  In no event shall
     the  Partnership be obligated to purchase Units if,  in  the
     sole  discretion  of  the  Managing  General  Partner,  such
     purchase  would  impair  the capital  or  operation  of  the
     Partnership.

     During  2000,  seven Limited Partners redeemed  a  total  of
     150.86 Partnership Units for $113,871 in accordance with the
     Partnership Agreement.  The Partnership acquired these Units
     using  Net Cash Flow from operations.  In 1999, four Limited
     Partners  redeemed a total of 109.04 Partnership  Units  for
     $87,231.   The  redemptions increase the  remaining  Limited
     Partner's ownership interest in the Partnership.

     After  the  effect of redemptions and the return of  capital
     from   the   sale   of   property,  the   Adjusted   Capital
     Contribution,  as defined in the Partnership  Agreement,  is
     $1,000.03 per original $1,000 invested.

(7)  Income Taxes -

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

                                               2000         1999
     Net Income for Financial
      Reporting Purposes                   $1,069,902   $  607,149

     Depreciation for Tax Purposes
      Under Depreciation for Financial
      Reporting Purposes                       69,271       36,822

     Amortization of Start-Up and
      Organization Costs                      (89,854)     (47,298)

     Gain on Sale of Real Estate
      for Tax Purposes Under Gain
      for Financial Reporting Purposes        (10,034)           0
                                            -----------  -----------
           Taxable Income to Partners      $1,039,285   $  596,673
                                            ===========  ===========


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                   DECEMBER 31, 2000 AND 1999

(7)  Income Taxes - (Continued)

     The  following is a reconciliation of Partners' capital  for
     financial  reporting purposes to Partners' capital  reported
     for federal income tax purposes for the years ended December
     31:

                                                2000          1999
     Partners' Capital for
      Financial Reporting Purposes         $12,919,882    $13,137,487

     Depreciation for Tax Purposes
      Under Depreciation for Financial
      Reporting Purposes                        97,907         38,670

     Capitalized Start-Up Costs
      Under Section 195                        319,994        346,411

     Amortization of Start-Up and
      Organization Costs                      (117,221)       (53,784)

     Organization and Syndication Costs
      Treated as Reduction of Capital
      for Financial Reporting Purposes       2,424,726      2,424,726
                                            -----------    -----------
           Partners' Capital for
              Tax Reporting Purposes       $15,645,288    $15,893,510
                                            ===========    ===========

(8)  Fair Value of Financial Instruments -

     The estimated fair values of the financial instruments, none
     of  which are held for trading purposes, for the years ended
     December 31:

                                   2000                  1999
                          Carrying     Fair     Carrying      Fair
                           Amount      Value     Amount       Value

     Cash                $   1,764  $   1,764   $   1,835  $   1,835
     Money Market Funds    570,515    570,515     245,566    245,566
                          ---------  ---------   ---------  ---------
      Total Cash and
        Cash Equivalents $ 572,279  $ 572,279   $ 247,401  $ 247,401
                          =========  =========   =========  =========


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 partnership  and  has  no
officers,  directors, or direct employees.  The General  Partners
of  the  registrant are Robert P. Johnson and AFM.   The  General
Partners  manage and control the Partnership's affairs  and  have
general  responsibility and the ultimate authority in all matters
affecting the Partnership's business.  The director and  officers
of AFM are as follows:

        Robert  P.  Johnson, age 56, 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, 2001.  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 fifteen limited partnerships.

        Mark  E.  Larson,  age 48, 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,
2001.  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 General Partner 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
Partnership to beneficially own 5% or more of the Units, by  each
General  Partner, and by each officer or director of the Managing
General Partner as of February 28, 2001:

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

   AEI Fund Management XXI, Inc.            22           *
   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

   *  Less than 1%

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.  The General Partners know of  no
holders of more than 5% of the outstanding Units.

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 General Partner of the registrant
are  governed  by,  and  are conducted in  conformity  with,  the
limitations set forth in the Limited Partnership Agreement of the
registrant.

        The following table sets forth the forms of compensation,
distributions  and cost reimbursements paid by the registrant  to
the  General Partners or their Affiliates in connection with  the
operation  of  the Fund and its properties for  the  period  from
inception through December 31, 2000.

Person or Entity                              Amount Incurred From
 Receiving             Form and Method     Inception (July 31, 1996)
Compensation           of Compensation        To December 31, 2000

AEI   Securities,  Inc.                                   Selling
Commissions equal to 8% of proceeds                  $1,691,722
                plus a 2% nonaccountable expense allowance,
                most of which was reallowed to Participating
                Dealers.

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

Person or Entity                                        Amount Incurred From
 Receiving                   Form and Method         Inception (July 31, 1996)
Compensation                 of Compensation            To December 31, 2000

General Partners and  Reimbursement at Cost for other         $  762,880
Affiliates            Organization and Offering Costs.

General Partners and  Reimbursement at Cost for all           $  319,410
Affiliates            Acquisition Expenses

General Partners and  Reimbursement at Cost for all           $  687,327
Affiliates            Administrative Expenses attributable
                      to the Fund, including all expenses
                      related to management of the Fund's
                      properties  and  all other transfer
                      agency, reporting, partner relations
                      and other administrative functions.

General Partners and  Reimbursement at Cost for all expenses  $   95,103
Affiliates            related to the disposition of the
                      Fund's properties.

General Partners      3% of Net Cash Flow in any fiscal year. $   96,983

General Partners      1% of distributions of Net Proceeds of  $    2,621
                      Sale until  Limited Partners have
                      received an amount equal to (a) their
                      Adjusted Capital Contributions,  plus
                      (b) an amount equal to 9% 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  Partnership  Agreement
require   that  the  cumulative  reimbursements  to  the  General
Partners  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, 2000, the cumulative reimbursements to the  General
Partners 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 Partnership  (incorporated  by
      reference  to  Exhibit 3.1 of the registrant's  Registration
      Statement  on  Form SB-2 filed on September 13,  1996  [File
      No. 333-5604]).

3.2   Restated   Limited  Partnership  Agreement   to   the
      Prospectus  (incorporated  by  reference  to  Exhibit  A  of
      Amendment  No. 2 of the registrant's Registration  Statement
      on Form SB-2 filed on August 21, 1997 [File No. 333-5604]).

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

         A. Exhibits -
                              Description

10.1  Net  Lease Agreement dated December 10,  1997  between
      the  Partnership,  and  AEI Real Estate  Fund  XVII  Limited
      Partnership  and Ohio Valley Bistros, Inc. relating  to  the
      property  at #1507, Rural Route #6, Greensburg, Pennsylvania
      (incorporated  by  reference to Exhibit  10.1  of  Form  8-K
      filed on December 18, 1997).

10.2  Net  Lease Agreement dated June 29, 1998  between  the
      Partnership  and  Americana Dining  Corp.  relating  to  the
      property  at  7880  Washington Village  Drive,  Centerville,
      Ohio (incorporated by reference to Exhibit 10.2 of Form  10-
      QSB filed on July 31, 1998).

10.3  Net  Lease Agreement dated November 20,  1998  between
      the  Partnership  and  RTM Alabama,  Inc.  relating  to  the
      property  at  159  State  Farm  Parkway,  Homewood,  Alabama
      (incorporated by reference to Exhibit 10.11 of  Form  10-KSB
      filed on March 12, 1999).

10.4  Net  Lease Agreement dated November 25,  1998  between
      the   Partnership  and  Tumbleweed,  Inc.  relating  to  the
      property   at   6040   Lima  Road,   Fort   Wayne,   Indiana
      (incorporated by reference to Exhibit 10.13 of  Form  10-KSB
      filed on March 12, 1999).

10.5  Assignment of Lease Agreement dated January  12,  1999
      between  the Partnership and Centurion Video, Ltd.  relating
      to  the  property  at  1097  Industrial  Parkway,  Saraland,
      Alabama (incorporated by reference to Exhibit 10.14 of  Form
      10-KSB filed on March 12, 1999).

10.6  First  Amendment to Net Lease Agreement dated  January
      27,  1999 between the Partnership, AEI Real Estate Fund XVII
      Limited  Partnership,  AEI Real Estate  Fund  XVIII  Limited
      Partnership,   AEI   Income  &  Growth  Fund   XXI   Limited
      Partnership  and  Americana Dining  Corp.  relating  to  the
      property   at  7880  Washington  Drive,  Centerville,   Ohio
      (incorporated by reference to Exhibit 10.15 of  Form  10-KSB
      filed on March 12, 1999).

10.7  Purchase  Agreement dated April 19, 1999  between  AEI
      Fund  Management, Inc. and NOM Muscle Shoals, Ltd.  relating
      to  the  property  at 1304 Woodward Avenue,  Muscle  Shoals,
      Alabama  (incorporated by reference to Exhibit 10.2 of  Form
      10-QSB filed on May 7, 1999).

10.8  Assignment of Purchase Agreement dated April 27, 1999,
      between  the  Partnership  and  AEI  Fund  Management,  Inc.
      relating  to  the  property at 1700 South  Broadway,  Minot,
      North  Dakota (incorporated by reference to Exhibit 10.3  of
      Form 10-QSB filed on May 7, 1999).

10.9  Assignment of Purchase Agreement dated April 27, 1999,
      between  the  Partnership  and  AEI  Fund  Management,  Inc.
      relating  to  the property at 1304 Woodward  Avenue,  Muscle
      Shoals,  Alabama (incorporated by reference to Exhibit  10.4
      of Form 10-QSB filed on May 7, 1999).

10.10 First Amendment to Purchase Agreement dated April
      27,  1999, between AEI Fund Management, Inc. and NOM  Muscle
      Shoals,  Ltd.  relating  to the property  at  1304  Woodward
      Avenue,  Muscle Shoals, Alabama (incorporated  by  reference
      to Exhibit 10.5 of Form 10-QSB filed on May 7, 1999).

10.11 Purchase   and   Sale   Agreement   and   Escrow
      Instructions   dated   May  20,  1999   between   AEI   Fund
      Management,  Inc.  and ARAMARK Educational  Resources,  Inc.
      relating  to the properties at 3325 Trellis Lane,  Abingdon,
      Maryland,  2325  County  Road  90,  Pearland,  Texas,   1553
      Arcadian Drive, DePere, Wisconsin, and 18035 Forrest  Height
      Drive,  Houston, Texas (incorporated by reference to Exhibit
      10.3 of Form 8-K filed on July 26, 1999).

10.12 Assignment  of Purchase and  Sale  Agreement  and
      Escrow   Instructions  dated  June  16,  1999  between   the
      Partnership,   AEI   Fund  Management,  Inc.   and   ARAMARK
      Educational  Resources, Inc. relating to the  properties  at
      3325 Trellis Lane, Abingdon, Maryland, 2325 County Road  90,
      Pearland,  Texas,  1553 Arcadian Drive,  DePere,  Wisconsin,
      and    18035   Forrest   Height   Drive,   Houston,    Texas
      (incorporated  by  reference to Exhibit  10.4  of  Form  8-K
      filed on July 26, 1999).

10.13 Assignment and Assumption of Lease dated June  29,
      1999  between  the  Partnership and  Magnum  Video  I,  Inc.
      relating  to  the  property at 1700 South  Broadway,  Minot,
      North  Dakota (incorporated by reference to Exhibit 10.9  of
      Form 8-K filed on July 26, 1999).

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

         A. Exhibits -
                             Description

10.14 Net  Lease Agreement dated July 14, 1999  between
      the  Partnership  and  ARAMARK Educational  Resources,  Inc.
      relating  to  the  property at 3325 Trellis Lane,  Abingdon,
      Maryland (incorporated by reference to Exhibit 10.5 of  Form
      8-K filed on July 26, 1999).

10.15 Net  Lease Agreement dated July 14, 1999  between
      the  Partnership  and  ARAMARK Educational  Resources,  Inc.
      relating  to  the property at 2325 County Road 90  Pearland,
      Texas (incorporated by reference to Exhibit 10.6 of Form  8-
      K filed on July 26, 1999).

10.16 Net  Lease Agreement dated July 14, 1999  between
      the  Partnership  and  ARAMARK Educational  Resources,  Inc.
      relating  to  the property at 1553 Arcadian  Drive,  DePere,
      Wisconsin  (incorporated by reference  to  Exhibit  10.7  of
      Form 8-K filed on July 26, 1999).

10.17 Net  Lease Agreement dated July 14, 1999  between
      the  Partnership  and  ARAMARK Educational  Resources,  Inc.
      relating  to  the  property at 18035 Forrest  Height  Drive,
      Houston,  Texas (incorporated by reference to  Exhibit  10.8
      of Form 8-K filed on July 26, 1999).

10.18 Sale   and   Purchase   Agreement   and   Escrow
      Instructions   dated   June  2,  1999   between   AEI   Fund
      Management,  Inc.  and  Marie  Callender  Pie  Shops,   Inc.
      relating  to  the property at Warm Springs Road,  Henderson,
      Nevada  (incorporated by reference to Exhibit 10.1  of  Form
      10-QSB filed on July 30, 1999).

10.19 First  Amendment to Sale and  Purchase  Agreement
      and  Escrow Instructions dated July 8, 1999 between AEI Fund
      Management,  Inc.  and  Marie  Callender  Pie  Shops,   Inc.
      relating  to  the property at Warm Springs Road,  Henderson,
      Nevada  (incorporated by reference to Exhibit 10.2  of  Form
      10-QSB filed on July 30, 1999).

10.20 First Amendment to Net Lease Agreement dated  July
      9,  1999  between  the  Partnership and  RTM  Alabama,  Inc.
      relating   to  the  property  at  159  State  Farm  Parkway,
      Homewood,  Alabama  (incorporated by  reference  to  Exhibit
      10.2 of Form 8-K filed on July 20, 1999).

10.21 Assignment  of Purchase and  Sale  Agreement  and
      Escrow   Instructions  dated  July  23,  1999  between   the
      Partnership, AEI Net Lease Income & Growth Fund XIX  Limited
      Partnership  and  AEI  Fund  Management,  Inc.   and   Marie
      Callender Pie Shops, Inc. relating to the property  at  Warm
      Springs  Road, Henderson, Nevada (incorporated by  reference
      to Exhibit 10.3 of Form 10-QSB filed on July 30, 1999).

10.22 Assignment of Lease dated August 26, 1999 between
      the  Partnership and NOM Muscle Shoals, Ltd. relating to the
      property  at  1304 Woodward Avenue, Muscle  Shoals,  Alabama
      (incorporated by reference to Exhibit 10.11 of  Form  10-QSB
      filed on November 8, 1999).

10.23 First  Amendment  to Net  Lease  Agreement  dated
      August  31,  1999, between the Partnership  and  Tumbleweed,
      Inc.  relating  to  the  property at 6040  Lima  Road,  Fort
      Wayne,  Indiana (incorporated by reference to  Exhibit  10.1
      of Form 8-K filed on September 1, 1999).

10.24 Lease Agreement dated September 28, 1999  between
      the  Partnership,  AEI Net Lease Income &  Growth  Fund  XIX
      Limited  Partnership  and Marie Callender  Pie  Shops,  Inc.
      relating  to  the  property at 530 North  Stephanie  Street,
      Henderson,  Nevada  (incorporated by  reference  to  Exhibit
      10.13 of Form 10-QSB filed on November 8, 1999).

10.25 Purchase  Agreement  dated  February  14,   2000
      between  the Partnership and George M. Kunitake and  Kay  H.
      Kunitake, husband and wife, and Steven T. Kunitake  relating
      to  the  property at 530 North Stephanie Street,  Henderson,
      Nevada  (incorporated by reference to Exhibit 10.32 of  Form
      10-KSB filed on March 10, 2000).

10.26 Purchase  Agreement  dated  February  28,   2000
      between  the  Partnership  and the  D  &  R  Family  Limited
      Partnership  relating  to  the  property  at  1553  Arcadian
      Drive,  DePere,  Wisconsin  (incorporated  by  reference  to
      Exhibit 10.33 of Form 10-KSB filed on March 10, 2000).

10.27 Property  Co-Tenancy  Ownership  Agreement  dated
      February  29, 2000 between the Partnership and  the  D  &  R
      Family Limited Partnership relating to the property at  1553
      Arcadian   Drive,   DePere,   Wisconsin   (incorporated   by
      reference  to  Exhibit 10.34 of Form 10-KSB filed  on  March
      10, 2000).

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

         A. Exhibits -
                              Description

10.28 Purchase  Agreement  dated  February  29,   2000
      between  the  Partnership  and George  Richard  Swanson  and
      Christine  Marie Orth relating to the property at 530  North
      Stephanie   Street,  Henderson,  Nevada   (incorporated   by
      reference  to  Exhibit 10.35 of Form 10-KSB filed  on  March
      10, 2000).

10.29 Purchase Agreement dated March 16,  2000  between
      the  Partnership and George M. Kunitake and Kay H. Kunitake,
      husband  and  wife, and Steven T. Kunitake relating  to  the
      property   at   1553   Arcadian  Drive,  DePere,   Wisconsin
      (incorporated  by reference to Exhibit 10.1 of  Form  10-QSB
      filed on May 5, 2000).

10.30 Property  Co-Tenancy  Ownership  Agreement  dated
      March  24,  2000  between  the  Partnership  and  George  M.
      Kunitake  and Kay H. Kunitake, husband and wife, and  Steven
      T.  Kunitake  relating  to  the property  at  1553  Arcadian
      Drive,  DePere,  Wisconsin  (incorporated  by  reference  to
      Exhibit 10.2 of Form 10-QSB filed on May 5, 2000).

10.31 Purchase Agreement dated March 27,  2000  between
      the  Partnership and the Carl R. Whittington Trust  relating
      to  the  property at 1553 Arcadian Drive, DePere,  Wisconsin
      (incorporated  by reference to Exhibit 10.3 of  Form  10-QSB
      filed on May 5, 2000).

10.32 Purchase Agreement dated March 27,  2000  between
      the  Partnership and the Carl R. Whittington Trust  relating
      to  the  property at 530 North Stephanie Street,  Henderson,
      Nevada  (incorporated by reference to Exhibit 10.4  of  Form
      10-QSB filed on May 5, 2000).

10.33 Purchase Agreement dated March 27,  2000  between
      the  Partnership and the Carl R. Whittington Trust  relating
      to  the  property  at  1097  Industrial  Parkway,  Saraland,
      Alabama  (incorporated by reference to Exhibit 10.5 of  Form
      10-QSB filed on May 5, 2000).

10.34 Property  Co-Tenancy  Ownership  Agreement  dated
      March  30,  2000  between the Partnership and  the  Carl  R.
      Whittington   Trust  relating  to  the  property   at   1097
      Industrial  Parkway,  Saraland,  Alabama  (incorporated   by
      reference  to Exhibit 10.6 of Form 10-QSB filed  on  May  5,
      2000).

10.35 Property  Co-Tenancy  Ownership  Agreement  dated
      March  30,  2000  between the Partnership and  the  Carl  R.
      Whittington Trust relating to the property at 1553  Arcadian
      Drive,  DePere,  Wisconsin  (incorporated  by  reference  to
      Exhibit 10.7 of Form 10-QSB filed on May 5, 2000).

10.36 Purchase Agreement dated April 13,  2000  between
      the  Partnership and Francis E. Quinn and Cecile  Ann  Quinn
      relating  to  the  property at 530 North  Stephanie  Street,
      Henderson,  Nevada  (incorporated by  reference  to  Exhibit
      10.8 of Form 10-QSB filed on May 5, 2000).

10.37 Purchase Agreement dated April 18,  2000  between
      the  Partnership  and the Wuest Estate Company  relating  to
      the  property at 1097 Industrial Parkway, Saraland,  Alabama
      (incorporated  by reference to Exhibit 10.9 of  Form  10-QSB
      filed on May 5, 2000).

10.38 Property  Co-Tenancy  Ownership  Agreement  dated
      April  21, 2000 between the Partnership and the Wuest Estate
      Company   relating  to  the  property  at  1097   Industrial
      Parkway,  Saraland, Alabama (incorporated  by  reference  to
      Exhibit 10.10 of Form 10-QSB filed on May 5, 2000).

10.39 Development Financing Agreement dated May 8,  2000
      between  the  Partnership, AEI Real Estate Fund  XV  Limited
      Partnership,  AEI Real Estate Fund XVII Limited Partnership,
      AEI  Net  Lease Income & Growth Fund XIX Limited Partnership
      and  Razzoo's,  Inc.  relating  to  the  property  at  11617
      Research   Boulevard,   Austin,   Texas   (incorporated   by
      reference to Exhibit 10.1 of Form 10-QSB filed on August  2,
      2000).

10.40 Net Lease Agreement dated May 8, 2000 between  the
      Partnership,  AEI  Real Estate Fund XV Limited  Partnership,
      AEI  Real  Estate  Fund  XVII Limited Partnership,  AEI  Net
      Lease  Income  &  Growth  Fund XIX Limited  Partnership  and
      Razzoo's,  Inc.  relating to the property at 11617  Research
      Boulevard,  Austin,  Texas  (incorporated  by  reference  to
      Exhibit 10.2 of Form 10-QSB filed on August 2, 2000).

10.41 Purchase Agreement dated June 1, 2000 between  the
      Partnership, AEI Net Lease Income & Growth Fund XIX  Limited
      Partnership and Grace Noltensmeier relating to the  property
      at   530   North   Stephanie   Street,   Henderson,   Nevada
      (incorporated  by reference to Exhibit 10.3 of  Form  10-QSB
      filed on August 2, 2000).

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

         A.  Exhibits -
                          Description

10.42 Purchase  Agreement dated June 22,  2000  between
      the  Partnership  and  Patricia T.  Dixon  relating  to  the
      property  at  1097  Industrial  Parkway,  Saraland,  Alabama
      (incorporated  by reference to Exhibit 10.4 of  Form  10-QSB
      filed on August 2, 2000).

10.43 Property  Co-Tenancy  Ownership  Agreement  dated
      June  30, 2000 between the Partnership and Patricia T. Dixon
      relating   to  the  property  at  1097  Industrial  Parkway,
      Saraland,  Alabama  (incorporated by  reference  to  Exhibit
      10.5 of Form 10-QSB filed on August 2, 2000).

10.44 Purchase Agreement dated August 23, 2000  between
      the  Partnership  and Maricopa Land & Cattle  Company,  Inc.
      relating  to  the property at 1553 Arcadian  Drive,  DePere,
      Wisconsin  (incorporated by reference  to  Exhibit  10.1  of
      Form 10-QSB filed on November 7, 2000).

10.45 Property  Co-Tenancy  Ownership  Agreement  dated
      September  12,  2000  between the Partnership  and  Maricopa
      Land  &  Cattle  Company, Inc. relating to the  property  at
      1553  Arcadian  Drive,  DePere, Wisconsin  (incorporated  by
      reference  to Exhibit 10.2 of Form 10-QSB filed on  November
      7, 2000).

10.46 Net  Lease  Agreement dated  September  28,  2000
      between  the  Partnership, AEI Private Net Lease  Millennium
      Fund  Limited Partnership, AEI Private Net Lease  Fund  1998
      Limited Partnership and ARAMARK Educational Resources,  Inc.
      relating  to  the  property at 18601  Eagle  Ridge,  Golden,
      Colorado (incorporated by reference to Exhibit 10.3 of  Form
      10-QSB filed on November 7, 2000).

10.47 Purchase Agreement dated January 29, 2001 between
      the   Partnership  and  Dwight  W.  and  Linda  R.  Peterson
      relating  to  the property at 1553 Arcadian  Drive,  DePere,
      Wisconsin.

10.48 Property  Co-Tenancy  Ownership  Agreement  dated
      January 31, 2001 between the Partnership and Dwight  W.  and
      Linda  R. Peterson relating to the property at 1553 Arcadian
      Drive, DePere, Wisconsin.

         B. Reports on Form 8-K -    None.


                           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 XXII
                           Limited Partnership
                           By: AEI Fund Management XXI, Inc.
                           Its Managing General Partner



March 9, 2001              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 9, 2001
    Robert P. Johnson  and Sole Director of Managing General
                       Partner

/s/ Mark E. Larson     Executive Vice President, Treasurer      March 9, 2001
    Mark E. Larson     and Chief Financial Officer
                       (Principal Accounting Officer)