<ARTICLE> 5 <LEGEND> THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM BOTH THE JUNE 30, 1997 BALANCE SHEET AND STATEMENT OF INCOME AND EXPENSES AND IS QAULIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <CIK> 0000711512 <NAME> AMERICAN REPUBLIC REALTY FUND I <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> JUN-30-1997 <CASH> 61,668 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 16,817,227 <DEPRECIATION> 8,699,635 <TOTAL-ASSETS> 8,470,079 <CURRENT-LIABILITIES> 0 <BONDS> 6,889,368 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (2,800,447) <TOTAL-LIABILITY-AND-EQUITY> 8,470,079 <SALES> 0 <TOTAL-REVENUES> 1,235,634 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 958,554 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 126,267 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 174,803 <EPS-PRIMARY> 15.89 <EPS-DILUTED> 0