<ARTICLE>                     5
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION  EXTRACTED FROM RETAIL
EQUITY PARTNERS LIMITED PARTNERSHIP  FINANCIAL STATEMENTS AS OF AND FOR THE NINE
MONTHS ENDED  SEPTEMBER 30, 1997,  AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
       
                                          
<PERIOD-TYPE>                                9-MOS
<FISCAL-YEAR-END>                            DEC-31-1997
<PERIOD-START>                               JUL-01-1997
<PERIOD-END>                                 SEP-30-1997
<CASH>                                           79,674
<SECURITIES>                                          0
<RECEIVABLES>                                    39,918
<ALLOWANCES>                                          0
<INVENTORY>                                           0
<CURRENT-ASSETS>                                214,496
<PP&E>                                        8,026,281
<DEPRECIATION>                               (1,830,598)
<TOTAL-ASSETS>                                6,424,764
<CURRENT-LIABILITIES>                           117,530
<BONDS>                                       6,828,552
<COMMON>                                              0
<PREFERRED-MANDATORY>                                 0
<PREFERRED>                                           0
<OTHER-SE>                                     (521,318)
<TOTAL-LIABILITY-AND-EQUITY>                  6,424,764
<SALES>                                               0
<TOTAL-REVENUES>                                779,414
<CGS>                                                 0
<TOTAL-COSTS>                                   297,082
<OTHER-EXPENSES>                                 67,910
<LOSS-PROVISION>                                      0
<INTEREST-EXPENSE>                              475,525
<INCOME-PRETAX>                                 (61,103)
<INCOME-TAX>                                          0
<INCOME-CONTINUING>                             (61,103)
<DISCONTINUED>                                        0
<EXTRAORDINARY>                                       0
<CHANGES>                                             0
<NET-INCOME>                                    (61,103)
<EPS-PRIMARY>                                     (0.18)
<EPS-DILUTED>                                         0