U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):

[ ] Form 10-K		[ ] Form 20-F	[ ] Form 11-K	[X] Form 10-QSB
[ ] Form N-SAR

For Period Ended:          March 31, 2004
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:



Part I - Registrant Information

Full Name of Registrant: Brauvin Real Estate Fund L.P. 5
Former Name if Applicable:               N/A
Address of Principal Executive Office (Street and Number):
30 North LaSalle Drive, Chicago, Illinois	60602

Part II- Rules 12b-25 (b) and (c)

If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box):

[ ] (a)  The reasons described in reasonable detail in Part III of this form
         could not be eliminated without unreasonable effort or expense

[X] (b)  The subject annual report, semi-annual report, transition report on
         Form 10-K, Form 20-F,11-K or Form N-SAR, or portion thereof will be
         filed on or before the fifteenth calendar day following the
         prescribed due date; or the subject quarterly report or transaction
         report on Form 10-QSB, or portion thereof will be filed on or before
         the fifth calendar day following the prescribed due date;   and

[ ] (c)  The accountant=s statement or other exhibit required by
         Rule 12b-25(c) has been attached if applicable.

Part III - Narrative

Brauvin Real Estate Fund L.P. 5 is requesting a five calendar day extension
of time so that a complete and accurate presentation of all information can
be presented to the Limited Partners.

Part IV - Other Information

(1) Name and telephone number of person to contact in regard to this
    notification

Tom Murphy	   			    (312) 759-7660
  (Name)                                   (Telephone Number)

(2) Have all other periodic reports required under section 13 or 15(d) of the
    Securities Exchange Act of 1934 or section 30 of the Investment Company
    Act of 1940 during the preceding 12 months or for such shorter period
    that the registrant was required to file such report(s) been filed? If
    the answer is no, identify report(s).      [X] Yes         [ ] No


(3) Is it anticipated that any significant change in results of operations
    from the corresponding period for the last fiscal year will be reflected
    by the earnings statements to be included in the subject report or
    portion thereof?    [ ] Yes [X] No

If so: attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable
estimate of the results cannot be made.


         Brauvin Real Estate Fund L.P. 5
  (Name of Registrant as specified in the charter)

has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date: May 17, 2004              By: /s/ Jerome J. Brault

                                    Jerome J. Brault

                                    Brauvin Ventures, Inc.
                                    President