SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                           FORM 10-QSB

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

           For the Quarter Ended:  September 30, 2000

                 Commission file number:  24003


          AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP
(Exact Name of Small Business Issuer as Specified 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)


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

Check  whether  the issuer (1) filed all reports required  to  be
filed  by Section 13 or 15(d) of the Securities Exchange  Act  of
1934  during the preceding 12 months (or for such shorter  period
that  the registrant was required to file such reports), and  (2)
has  been  subject to such filing requirements for  the  past  90
days.

                        Yes  [X]   No

         Transitional Small Business Disclosure Format:

                        Yes        No  [X]




        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP


                              INDEX




PART I.Financial Information

 Item 1. Balance Sheet as of September 30, 2000 and December 31, 1999 3

          Statements for the Periods ended September 30, 2000 and 1999:

            Operations

            Cash Flows

            Changes in Partners' Capital

          Notes to Financial Statements

 Item 2. Management's Discussion and Analysis

PART II.Other Information

 Item 1. Legal Proceedings

 Item 2. Changes in Securities

 Item 3. Defaults Upon Senior Securities

 Item 4. Submission of Matters to a Vote of Security Holders

 Item 5. Other Information

 Item 6. Exhibits and Reports on Form 8-K

<PAGE>
        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                          BALANCE SHEET

            SEPTEMBER 30, 2000 AND DECEMBER 31, 1999

                             ASSETS

                                                     2000            1999

CURRENT ASSETS:
  Cash and Cash Equivalents                      $ 1,268,117     $   247,401
  Receivables                                         23,152               0
                                                  -----------     -----------
          Total Current Assets                     1,291,269         247,401
                                                  -----------     -----------

INVESTMENTS IN REAL ESTATE:
  Land                                             5,011,005       4,981,547
  Buildings and Equipment                          7,487,286       8,382,000
  Construction in Progress                           113,657               0
  Accumulated Depreciation                          (397,584)       (201,635)
                                                  -----------     -----------
      Net Investments in Real Estate              12,214,364      13,161,912
                                                  -----------     -----------
           Total  Assets                         $13,505,633     $13,409,313
                                                  ===========     ===========


                        LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.           $    29,990     $    14,979
  Distributions Payable                              402,672         256,847
  Unearned Rent                                       35,626               0
                                                  -----------     -----------
      Total Current Liabilities                      468,288         271,826
                                                  -----------     -----------
PARTNERS' CAPITAL (DEFICIT):
  General Partners                                   (36,509)        (38,746)
  Limited Partners, $1,000 Unit Value;
   24,000 Units authorized; 16,917 Units issued;
   16,657 and 16,799 Units outstanding in 2000
   and 1999, respectively                         13,073,854      13,176,233
                                                  -----------     -----------
      Total Partners' Capital                     13,037,345      13,137,487
                                                  -----------     -----------
        Total Liabilities and Partners' Capital  $13,505,633     $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 OPERATIONS

               FOR THE PERIODS ENDED SEPTEMBER 30

                           (Unaudited)


                                 Three Months Ended      Nine Months Ended
                                9/30/00      9/30/99    9/30/00     9/30/99

INCOME:
   Rent                        $277,210     $231,138    $848,902    $410,376
   Investment Income             27,904       44,905      59,672     268,716
                                --------     --------    --------    --------
        Total Income            305,114      276,043     908,574     679,092
                                --------     --------    --------    --------

EXPENSES:
   Partnership Administration -
     Affiliates                  45,252       40,511     123,290     125,014
   Partnership Administration
     and Property Management -
     Unrelated Parties            4,349        5,790      21,568      17,948
   Depreciation                  75,313       64,862     239,278      96,558
                                --------     --------    --------    --------
        Total Expenses          124,914      111,163     384,136     239,520
                                --------     --------    --------    --------

OPERATING INCOME                180,200      164,880     524,438     439,572

GAIN ON SALE OF REAL ESTATE      29,748            0     357,720           0
                                --------     --------    --------    --------
NET INCOME                     $209,948     $164,880    $882,158    $439,572
                                ========     ========    ========    ========

NET INCOME ALLOCATED:
   General Partners            $  6,299     $  4,946    $ 26,465    $ 13,187
   Limited Partners             203,649      159,934     855,693     426,385
                                --------     --------    --------    --------
                               $209,948     $164,880    $882,158    $439,572
                                ========     ========    ========    ========

NET INCOME (LOSS) PER
 LIMITED PARTNERSHIP UNIT
 16,657, 16,808, 16,755 and
 16,769 weighted average
 Units outstanding for the
 periods, respectively)        $  12.23     $   9.52    $  51.07    $  25.43
                                ========     ========    ========    ========


 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 PERIODS ENDED SEPTEMBER 30

                           (Unaudited)

                                                        2000          1999

CASH FLOWS FROM OPERATING ACTIVITIES:
   Net  Income                                      $   882,158   $   439,572

   Adjustments to Reconcile Net Income to Net Cash
   Provided by Operating Activities:
     Depreciation                                       239,278        96,558
     Gain on Sale of Real Estate                       (357,720)            0
     (Increase) Decrease in Receivables                 (23,152)       46,634
     Increase (Decrease) in Payable
        to AEI Fund Management, Inc.                     15,011      (126,122)
     Increase in Unearned Rent                           35,626        30,047
                                                     -----------   -----------
        Total Adjustments                               (90,957)       47,117
                                                     -----------   -----------
        Net Cash Provided By
        Operating Activities                            791,201       486,689
                                                     -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
   Investments in Real Estate                        (1,411,006)  (10,301,472)
   Proceeds from Sale of Real Estate                  2,476,996             0
                                                     -----------   -----------
        Net Cash Provided By (Used For)
        Investing Activities                          1,065,990   (10,301,472)
                                                     -----------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
   Capital Contributions from Limited Partners                0       972,059
   Organization and Syndication Costs                         0      (143,785)
   Increase in Distributions Payable                    145,825        89,161
   Distributions to Partners                           (864,907)     (842,647)
   Redemption Payments                                 (117,393)      (89,929)
                                                     -----------   -----------
        Net Cash Used For
        Financing Activities                           (836,475)      (15,141)
                                                     -----------   -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                               1,020,716    (9,829,924)

CASH AND CASH EQUIVALENTS, beginning of period          247,401    10,206,442
                                                     -----------   -----------
CASH AND CASH EQUIVALENTS, end of period            $ 1,268,117   $   376,518
                                                     ===========   ===========


 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 PERIODS ENDED SEPTEMBER 30

                           (Unaudited)

                                                                     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 and
    Syndication Costs              0       (143,785)     (143,785)

  Redemptions                 (2,698)       (87,231)      (89,929)    (109.04)

  Distributions              (25,279)      (817,368)     (842,647)

  Net Income                  13,187        426,385       439,572
                             --------    -----------   -----------  ----------
BALANCE, September 30, 1999 $(35,925)   $13,267,348   $13,231,423   16,808.18
                             ========    ===========   ===========  ==========


BALANCE, December 31, 1999  $(38,746)   $13,176,233   $13,137,487   16,808.18

  Distributions              (20,706)      (844,201)     (864,907)

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

  Net Income                  26,465        855,693       882,158
                             --------    -----------   -----------  ----------
BALANCE, September 30, 2000 $(36,509)   $13,073,854   $13,037,345   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

                       SEPTEMBER 30, 2000

                           (Unaudited)

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

(2)  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.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2000
                           (Continued)

(2)  Organization - (Continued)

     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.

     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.

(3)  Investments in Real Estate -

     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.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2000
                           (Continued)

(3)  Investments in Real Estate - (Continued)

     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.

     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.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2000
                           (Continued)

(3)  Investments in Real Estate - (Continued)

     On  September  28,  1999, the Partnership  purchased  a  53%
     interest  in  a  Marie Callender's restaurant in  Henderson,
     Nevada  for  $937,897.   The property  is  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 $666,629.  The property is leased to Children's
     World Learning Centers, 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.  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
     September  30,  2000, the Partnership had advanced  $113,657
     for  the  construction  of  the property  and  was  charging
     interest   on  the  advances  at  a  rate  of   8.5%.    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  the  nine  months  ended  September  30,  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  the  nine  months  ended  September  30,  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  the  nine  months  ended  September  30,  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.


        AEI INCOME & GROWTH FUND XXII LIMITED PARTNERSHIP

                  NOTES TO FINANCIAL STATEMENTS

                       SEPTEMBER 30, 2000
                           (Continued)

(3)  Investments in Real Estate - (Continued)

     During  the  first  nine  months of  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.

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

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


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS

Results of Operations

       For the nine months ended September 30, 2000 and 1999, the
Partnership  recognized rental income of $848,902  and  $410,376,
respectively.   During the same periods, the  Partnership  earned
$59,672  and  $268,716, respectively, in investment  income  from
subscription  proceeds  and property sales  proceeds  which  were
invested  in  short-term money market accounts.  This  investment
income  constituted 7% and 40%, respectively,  of  total  income.
The  percentage of total income represented by investment  income
declines as subscription proceeds are invested in properties.

        During the nine months ended September 30, 2000 and 1999,
the  Partnership  paid  Partnership  administration  expenses  to
affiliated parties of $123,290 and $125,014, 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   period,   the   Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $21,568 and $17,948, 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  September  30,  2000,  the  Partnership's  cash
distribution rate was 7.0% on an annualized basis.   Pursuant  to
the Partnership Agreement, distributions of Net Cash Flow and Net
Income  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 may 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.

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

Liquidity and Capital Resources

        During  the  nine months ended September  30,  2000,  the
Partnership's  cash  balances increased $1,020,716  mainly  as  a
result  of  cash generated from the sale of property,  which  was
partially  offset  by cash used to purchase property.   Net  cash
provided by operating activities increased from $486,689 in  1999
to  $791,201 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.

        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 nine  months  ended
September  30, 2000 and 1999, the Partnership expended $1,411,006
and  $10,301,472,  respectively, to  invest  in  real  properties
(inclusive  of  acquisition expenses).  During  the  nine  months
ended  September  30, 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.


ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS  (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 is 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  $666,629.   The  property  is  leased  to  Children's  World
Learning  Centers, 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.
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 September 30, 2000, the
Partnership  had  advanced $113,657 for the construction  of  the
property and was charging interest on the advances at a  rate  of
8.5%.   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.


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

        During  the  nine months ended September  30,  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  the  nine months ended September  30,  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  the  nine months ended September  30,  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.

        During  the  first nine months of 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.

       On April 1, 2000, two Limited Partners redeemed a total of
9.67  Partnership  Units  for  $7,099  in  accordance  with   the
Partnership  Agreement.  On July 1, 2000, five  Limited  Partners
redeemed  a total of 141.19 Partnership Units for $106,772.   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  Partners'  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 2.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.



                   PART II - OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

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

ITEM 2.CHANGES IN SECURITIES

      None.

ITEM 3.DEFAULTS UPON SENIOR SECURITIES

      None.

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

      None


                   PART II - OTHER INFORMATION
                           (Continued)

ITEM 5.OTHER INFORMATION

      None.

ITEM 6.EXHIBITS AND REPORTS ON FORM 8-K

       a. Exhibits -
                         Description

          10.1  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.

          10.2  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.

          10.3  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  Children's
                World  Learning Centers, Inc. relating  to
                the   property   at  18601  Eagle   Ridge,
                Golden, Colorado.

          27    Financial Data Schedule  for  period
                ended September 30, 2000.

       b. Reports filed on Form 8-K - None.


                           SIGNATURES

        In  accordance with the requirements of the Exchange Act,
the  Registrant has caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.


Dated:  November 7, 2000      AEI Income & Growth Fund XXII
                              Limited Partnership
                              By:  AEI Fund Management XXI, Inc.
                              Its: Managing General Partner



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



                              By: /s/ Mark E. Larson
                                      Mark E. Larson
                                      Chief Financial Officer
                                      (Principal Accounting Officer)