SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC
                           -------------------------

                                   FORM 10-Q


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


For the quarterly period ended November 30, 1997


OR


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


For the transition period from                            to



                        Commission file number 0-17793


                  Wilder Richman Historic Properties II, L.P.
            (Exact name of Registrant as specified in its charter)


         Delaware                                       13-3481443
State or other jurisdiction of                        (I.R.S. Employer
 incorporation or organization                        Identification No.)



    599 W. Putnam Avenue
  Greenwich, Connecticut                                    06830
(Address of principal executive offices)                  Zip Code



Registrant's telephone number, including area code:  (203) 869-0900


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


Yes     X       No





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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

                        Part I - Financial Information

<S>                                                                     <C>
Table of Contents

Item 1.     Financial Statements                                        Page

            Balance Sheets as of November 30, 1997 (Unaudited) 
              and February 28, 1997                                       3
            Statements of Operations for the three and nine
              month periods ended November 30, 1997 and 1996 (Unaudited)  4

            Statements of Cash Flows for the nine months ended November
              30, 1997 and 1996 (Unaudited)                               5

             Notes to Financial Statements as of November 30, 1997 
              (Unaudited)                                                 6

Item 2.      Management's Discussion and Analysis of Financial
              Condition and Results of Operations                         9


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                                       2




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                  WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                                BALANCE SHEETS





                                          November 30, 1997
                                             (Unaudited)     February 28, 1997

ASSETS
<S>                                               <C>                <C>
Cash and cash equivalents                   $    642,255      $    629,975

Investment in operating partnerships           1,861,249         2,059,757

Note receivable                                  317,713           317,713

Accrued interest receivable                      114,097            98,436
                                          --------------     --------------

                                             $ 2,935,314       $ 3,105,881
                                             ===========       ===========


LIABILITIES AND PARTNERS' EQUITY (DEFICIT)

Liabilities

  Other liabilities                       $        7,125    $      10,000
  Due to related parties                         150,451          139,201
                                           -------------      -----------

                                                 157,576           149,201
                                           -------------       -----------


Partners' equity (deficit)

  Limited partners                             2,916,270          3,093,422
  General partner                               (138,532)          (136,742)
                                           -------------        ------------

                                               2,777,738         2,956,680

                                             $ 2,935,314       $ 3,105,881
                                             ===========       ===========

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                      See notes to financial statements.

                                       3


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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                           STATEMENTS OF OPERATIONS
                                  (Unaudited)


                     Three Months     Nine Months   Three Months   Nine Months
                        Ended            Ended         Ended          Ended
                     November 30,     November 30,  November 30,   November 30,
                       1997              1997          1996           1996
                     ------------   -------------   -----------  ------------
<S>                      <C>            <C>            <C>            <C>    

REVENUES

  Interest           $   13,842       $  41,397    $   10,451     $   34,994

EXPENSES

  Operating             4,905          21,831          4,528          25,616
                     -----------   -------------    ----------       -------
         

Income from operations  8,937         19,566           5,923           9,378

Equity in loss of operating
    partnerships      (49,154)      (198,508)       (152,547)       (601,005)
                ----------------- ---------------- ------------- --------------

NET LOSS         $    (40,217)  $   (178,942)   $   (146,624)  $    (591,627)
                   ================ =============== ============ =============


NET LOSS PER UNIT OF
  LIMITED PARTNERSHIP
  INTEREST         $   (49.77)$      (221.44)$      (181.45)   $     (732.14)
                 ==============  ============    ===========    ============


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                      See notes to financial statements.

                                       4

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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                           STATEMENTS OF CASH FLOWS
                 NINE MONTHS ENDED NOVEMBER 30, 1997 AND 1996
                                 (Unaudited)




                                                 1997               1996
                                          -----------------   ----------
<S>                                               <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES

Net loss                                      $   (178,942)  $   (591,627)

Adjustments to reconcile net loss to
 net cash provided by operating activities
   Equity in loss of operating partnerships        198,508         601,005
   Increase in accrued interest receivable         (15,661)        (15,775)
   Decrease in other liabilities                    (2,875)
   Increase in due to related parties               11,250          11,250
                                           ---------------  --------------

Net cash provided by operating activities           12,280           4,853
                                           ---------------  ---------------

Net increase in cash and cash equivalents           12,280          4,853

Cash and cash equivalents at beginning of period   629,975        615,815
                                           --------------  --------------

Cash and cash equivalents at end of period   $     642,255  $     620,668
                                             =============  =============

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                      See notes to financial statements.

                                       5

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                     WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                            NOTES TO FINANCIAL STATEMENTS
                                  NOVEMBER 30, 1997
                                     (Unaudited)





1.     The accompanying  unaudited financial  statements have been prepared in
      accordance  with generally  accepted  accounting  principles for interim
      financial   information.   They  do  not  include  all  information  and
      footnotes  required by  generally  accepted  accounting  principles  for
      complete  financial  statements.  The results of operations are impacted
      significantly   by  the   results  of   operations   of  the   Operating
      Partnerships,  which are provided on an unaudited  basis during  interim
      periods.   Accordingly,   the  accompanying   financial  statements  are
      dependent on such unaudited  information.  In the opinion of the General
      Partner, the financial  statements include all adjustments  necessary to
      reflect  fairly  the  results  of the  interim  periods  presented.  All
      adjustments  are of a normal  recurring  nature.  No significant  events
      have   occurred   subsequent  to  February  28,  1997  and  no  material
      contingencies  exist which would require  additional  disclosures in the
      report under Regulation S-X, Rule 10-01 paragraph A-5.

      The results of operations  for the nine months ended November 30, 1997 are
      not  necessarily  indicative  of the results to be expected for the entire
      year.

2.    The  investment  in  Operating  Partnerships  as of November  30, 1997 and
      February 28, 1997 is as follows:

      <S>                                                             <C>
      Amount paid to investee through February 28, 1997         $  16,388,000

      Accumulated cash distributions received from Operating
          Partnerships through February 28, 1997                   (3,180,441)

      Equity in accumulated loss of Operating Partnerships
         through February 28, 1997                                (11,147,802)

      Balance, February 28, 1997                                    2,059,757

      Equity in loss of Operating Partnerships for the nine months
         ended November 30, 1997                                     (198,508)

      Balance, November 30, 1997                               $    1,861,249
                                                               ==============


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                                       6





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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                  NOTES TO FINANCIAL STATEMENTS - continued
                              NOVEMBER 30, 1997
                                 (Unaudited)


2.    (Continued)

      The combined balance sheets of the Operating  Partnerships as of September
      30, 1997 and December 31, 1996 are as follows:

                                        September 30, 1997
                                           (Unaudited)       December 31, 1996
        <S>                                        <C>                <C>
      ASSETS

      Land                                  $   1,150,473    $   1,150,473
      Buildings and equipment (net of 
        accumulated depreciation of
        $10,863,926 and 9,869,372)             41,745,200       42,739,754
      Cash and cash equivalents                 1,033,898          563,084
      Tenant accounts receivable                   59,911
      Deferred costs                              548,088          580,814
      Mortgage escrow deposits                  1,015,323          902,221
      Tenant security deposits                    630,000          630,000
      Other assets                                 26,542            1,935
                                                 --------          -------
           

                                             $ 46,209,435     $ 46,568,281
                                             ============     ============

      LIABILITIES AND PARTNERS' EQUITY

      Liabilities

        Mortgages payable                    $ 26,837,996     $ 27,015,128
        Notes payable                             317,713          317,713
        Accounts payable and accrued expenses      82,471          118,418
        Accrued interest                          245,949          230,288
        Tenant security deposits payable          630,000          630,000
        Due to general partner and affiliates   1,787,876        1,660,566

                                               29,902,005       29,972,113

      Partners' equity

        Wilder Richman Historic Properties
          II, L.P.                              1,861,249        2,059,757
        General partner                        14,446,181       14,536,411
                                            --------------  --------------

                                               16,307,430       16,596,168

                                            $  46,209,435     $ 46,568,281
                                            =============     ============
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                                       7


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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                  NOTES TO FINANCIAL STATEMENTS - continued
                              NOVEMBER 30, 1997
                                 (Unaudited)


2.    (Continued)

      The unaudited  statements of operations of the Operating  Partnerships for
      the nine months ended September 30, 1997 and 1996 are as follows:


                                                    1997               1996
                                             -----------------  -----------
       <S>                                        <C>                <C>
      REVENUE

      Rent                                   $ 4,370,722          $ 4,109,651
                                             -----------          -----------

                                               4,370,722            4,109,651
                                            ------------         ------------

      EXPENSES

      Administrative                             463,496              485,522
      Operating                                1,636,732            1,664,699
      Management fees                            130,618              123,236
      Interest                                 1,401,335            1,415,991
      Depreciation and amortization            1,027,279            1,027,279
                                            ------------         ------------

                                               4,659,460            4,716,727
                                            ------------         ------------

      NET LOSS                               $  (288,738)        $  (607,076)
                                              ===========         ===========


      NET LOSS ALLOCATED TO

      Wilder Richman Historic Properties
        II, L.P.                              $  (198,508)        $  (601,005)
      General Partner                             (90,230)             (6,071)
                                            -------------      --------------

                                              $  (288,738)        $  (607,076)
                                              ===========         ===========




3.    Additional information,  including the audited February 28, 1997 Financial
      Statements and the Summary of Significant Accounting Policies, is included
      in the Partnership's  Annual Report on Form 10-K for the fiscal year ended
      February 28, 1997 on file with the Securities
      and Exchange Commission.

</TABLE>

                                       8

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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

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

      As of November 30, 1997, Wilder Richman Historic  Properties II, L.P. (the
      "Partnership")  experienced  few  changes in its  financial  condition  as
      compared to February 28, 1997, with the exception of the investment in the
      Operating  Partnerships  resulting  from the  equity in loss of  Operating
      Partnerships  for the nine months ended  November 30, 1997.  Cash and cash
      equivalents of the Partnership includes  approximately  $582,000 which was
      previously held in an operating  deficit escrow  established in connection
      with the  refinancing  of the  mortgages  of the  Operating  Partnerships.
      Pursuant to the Partnership Agreement,  such funds may be held or utilized
      for other  Partnership  purposes in the discretion of the General Partner.
      Presently,  the General Partner intends for the Partnership to continue to
      hold such funds. The Partnership's  advance to the Operating  Partnerships
      in the  amount of  $317,713  in  connection  with the  refinancing  of the
      mortgages  remains  outstanding.  For the nine months  ended  November 30,
      1997, the Partnership  accrued interest of $15,661 on such advance and has
      accrued aggregate  interest on such advance of $114,097 as of November 30,
      1997.

      Because of the outstanding advance, the Operating Partnerships are subject
      to  restrictions  concerning cash flow  distributions.  Cash flow, if any,
      generated subsequent to 1995 may be retained by the Operating Partnerships
      or may be distributed at the  discretion of  management.  If  distributed,
      such cash flow  distributions  must  follow the  priority  of (i)  accrued
      interest owing to the Partnership, (ii) principal owing to the Partnership
      and (iii)  thereafter,  pursuant to the terms of the  limited  partnership
      agreements of the Operating  Partnerships.  Although  recent rental market
      conditions have been strong,  management has been accumulating reserves to
      protect  against  potential  adverse  changes  in  market  conditions  and
      unanticipated expenses.  Accordingly,  the Partnership does not anticipate
      making  significant cash flow  distributions in the near future and cannot
      determine  the extent of cash flow  distributions  over the long term.  In
      addition to its cash balances, the Operating  Partnerships' balance in the
      replacement reserve account,  which is controlled by the lender to be used
      for certain repairs or capital improvements, was approximately $673,000 as
      of September 30, 1997. For 1997, the Operating  Partnerships  are required
      to deposit  $16,667 per month into the  replacement  reserve  through June
      1997 and $5,400 per month thereafter.

      As of  September  30,  1997,  the  Operating  Partnerships'  liquidity  is
      improved  compared to December  31, 1996,  with cash and cash  equivalents
      having  increased by  approximately  $471,000 and the replacement  reserve
      having  increased by  approximately  $121,000 while  accounts  payable and
      accrued expenses have decreased by approximately $36,000.  However, due to
      general partner and affiliates increased by approximately  $127,000 due to
      the accrual of management fees and investor service fees.

      The  Partnership's  operating  results are  dependent  upon the  operating
      results of the Operating Partnership and are significantly impacted by the
      Operating   Partnerships'  policies.  The  Partnership  accounts  for  its
      investment in the  Operating  Partnerships  in accordance  with the equity
      method of accounting, under which the investment is carried at cost and is
      adjusted  for  the  Partnership's  share  of the  Operating  Partnerships'
      results of operations and by any cash  distributions  received.  Equity in
      loss  of  each  investment  in  Operating  Partnership  allocated  to  the
      Partnership  is recognized to the extent of the  Partnership's  investment
      balance in each Operating Partnership. Any equity in loss in excess of the
      Partnership's  investment balance in an Operating Partnership is allocated
      to other partners' capital in any Operating Partnership.  As a result, the
      equity in loss of investment in Local Partnerships is expected to decrease
      as the  Partnership's  investment  balances  in the  respective  Operating
      Partnerships become zero.  However,  the combined statements of operations
      of the  Operating  Partnerships  reflected in Note 2 to the  Partnership's
      financial  statements  include  the  operating  results  of all  Operating
      Partnerships, regardless of the Partnership's investment balances.

      For the nine months ended  November 30, 1997,  the statement of operations
      of the Partnership reflects a net loss of $178,942,  which includes equity
      in loss of Operating Partnerships of $198,508. Nonrecognition of losses of
      the Partnership's investment in Dixon Mills Phase I during the nine months
      ended November 30, 1997 was  approximately  $88,000 in accordance with the
      equity method of  accounting.  The Operating  Partnerships  reported a net
      loss  during  the  nine  months  ended  September  30,  1997 of  $288,738,
      inclusive of depreciation and

                                       9

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                    WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

Item 2.  Management's  Discussion  and Analysis of Financial  Conditions  and
Results of Operations (continued)

      amortization of $1,027,279.  However, the operating Partnerships generated
      cash flow after  required debt service  payments and required  replacement
      reserve  deposits of  approximately  $568,000 during the nine months ended
      September  30,  1997,  which  includes  principal  amortization  under the
      mortgages  (approximately  $177,000)  and  deposits  to  required  escrows
      (approximately  $121,000),  and excludes accrued fees to affiliates of the
      Operating General Partner and the General Partner (approximately $112,000)
      and  accrued  interest to the  Partnership  (approximately  $15,000).  The
      Operating Partnerships did not utilize any replacement reserves during the
      nine months ended September 30, 1997.

      For the nine months ended  November 30, 1996,  the statement of operations
      of the Partnership reflects a net loss of $591,627,  which includes equity
      in loss of Operating  Partnerships of $601,005. The Operating Partnerships
      reported a net loss during the nine  months  ended  September  30, 1996 of
      $607,076, inclusive of depreciation and amortization of $663,035. However,
      the Operating  Partnerships  generated cash flow for the nine months ended
      September 30, 1996 of  approximately  $240,000,  which includes  principal
      amortization under the mortgages  (approximately $165,000) and deposits to
      required escrows  (approximately  $135,000),  and excludes accrued fees to
      affiliates  of the  Operating  General  Partner  and the  General  Partner
      (approximately   $104,000)  and  accrued   interest  to  the   Partnership
      (approximately $15,000).

      Although  the  Operating   Partnerships  are  operating  above  breakeven,
      management  is continuing  to examine  methods to maintain high  occupancy
      rates  and  economize  operating  expenses.  Recently,  there has been new
      construction of luxury  multi-family  housing in the vicinity of the Dixon
      Mill Complex (the "Complex").  Such housing includes asking rents that are
      comparable and higher than rents currently charged by the Complex.  It has
      not been  determined  whether  such new  housing  will have a positive  or
      negative impact on the Complex or its cash flow in the future. The ability
      to perform at recent  levels  will be  dependent  on the  ability to lease
      units as  lease  terms  expire  on a month to  month  basis.  The  average
      occupancy  for the  nine  months  ended  September  30,  1997 and 1996 was
      approximately 98% and 98%,  respectively.  The future operating results of
      the  Complex  will  be  extremely  dependent  on  competition  and  market
      conditions and therefore may be subject to significant volatility.

                                       10


















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                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.
                          Part II - Other Information



Item 1.  Legal Proceedings.

         As of November 30, 1997, there were no material pending legal 
         proceedings to which Registrant  or any of its  affiliates  was a
         party or to  which  any of their property was subject except for
         the following:

The      Operating  Partnerships have been named as a third-party defendant in a
         lawsuit  between The Dixon  Venture,  the party who sold the Complex to
         the Operating Partnerships, and the former owner, Joseph Dixon Crucible
         Company,  for indemnification for cost clean-up under the Comprehensive
         Environmental  Response  Compensation  and Liability  Act of 1980.  The
         Operating General Partner believes that the Operating Partnerships have
         no  liability  or no  liability  that is not  adequately  covered by an
         indemnification from The Dixon Venture.

A        former employee of the Operating Partnerships filed a complaint through
         the Equal Employment  Opportunity  Commission  ("EEOC") claiming sexual
         harassment. The Operating General Partner has reported that such
         claim was dismissed by the EEOC.

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


Item 5.  Other Information

         None


                                  11















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                                  SIGNATURES

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

                                 WILDER RICHMAN HISTORIC PROPERTIES II, L.P.

                                 By:Wilder Richman Historic Corporation
                                    General Partner


Dated:  January 14, 1998            /s/ Richard Paul Richman
                                    ---------------------------------

                                    Richard Paul Richman
                                    President and Chief Executive
                                    Officer

                                       12

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