[ARTICLE] 5
[CIK] 0000024148
[NAME] CONTINENTAL REAL ESTATE PARTNERS LTD

                                                  
[PERIOD-TYPE]                   3-MOS                   9-MOS
[FISCAL-YEAR-END]                          DEC-31-1997             DEC-31-1997
[PERIOD-END]                               SEP-30-1997             SEP-30-1997
[CASH]                                         1215426                 1215426
[SECURITIES]                                         0                       0
[RECEIVABLES]                                        0                       0
[ALLOWANCES]                                         0                       0
[INVENTORY]                                          0                       0
[CURRENT-ASSETS]                                294984                  294984
[PP&E]                                        13990040                13990040
[DEPRECIATION]                                11498801                11498801
[TOTAL-ASSETS]                                 4001649                 4001649
[CURRENT-LIABILITIES]                          2402246                 2402246
[BONDS]                                              0                       0
[PREFERRED-MANDATORY]                                0                       0
[PREFERRED]                                          0                       0
[COMMON]                                             0                       0
[OTHER-SE]                                     1599403                 1599403
[TOTAL-LIABILITY-AND-EQUITY]                   4001649                 4001649
[SALES]                                         133594                  402173
[TOTAL-REVENUES]                                133594                  402173
[CGS]                                                0                       0
[TOTAL-COSTS]                                        0                       0
[OTHER-EXPENSES]                                193795                  571077
[LOSS-PROVISION]                                     0                       0
[INTEREST-EXPENSE]                                   0                       0
[INCOME-PRETAX]                                (60201)                (168904)
[INCOME-TAX]                                         0                       0
[INCOME-CONTINUING]                            (60201)                (168904)
[DISCONTINUED]                                       0                       0
[EXTRAORDINARY]                                      0                       0
[CHANGES]                                            0                       0
[NET-INCOME]                                   (60201)                (168904)
[EPS-PRIMARY]                                   (1.91)                  (5.35)
[EPS-DILUTED]                                   (1.91)                  (5.35)