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, 2006
     [ ] 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 accountants 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?    [X] Yes   [  ] 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.

      The  2006 current quarter financial statements reflect  the
Partnership's sale of certain properties in 2005.  As a result of
this sale, rental and other tenant income as well as gain on sale
of  properties  are not comparable with the same periods  in  the
last fiscal year.


              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 15, 2006        By: /s/ Jerome J. Brault

                              Jerome J. Brault

                              Brauvin Real Estate Fund L.P. 5
                              Brauvin Ventures, Inc.
                              President