UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) April 30, 2004
AEI REAL ESTATE FUND XVII LIMITED PARTNERSHIP
(Exact Name of Registrant as Specified in its Charter)
State of Minnesota
(State or other Jurisdiction of Incorporation or
Organization)
0-17467 41-1603719
(Commission File Number) (I.R.S. Employer
Identification No.)
30 East 7th Street, Suite 1300, St. Paul, Minnesota, 55101
(Address of Principal Executive Offices)
(651) 227-7333
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last
report)
Item 2. Acquisition or Disposition of Assets.
On April 30, 2004, the Partnership purchased an
Applebee's restaurant in Ashland, Ohio from PRECO II CRIC
LLC. The total cash purchase price of the land and building
was approximately $1,923,500. PRECO II CRIC LLC is not
affiliated with the Partnership.
The cash, used in purchasing the property, was from
the proceeds of sale of properties.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired -
Not Applicable.
(b) On April 30, 2004, the Partnership purchased
the property for $1,923,500. The property was
acquired with cash which was provided from
proceeds of sale of properties. A limited
number of proforma adjustments are required to
illustrate the effects of the transaction on
the balance sheet and income statement. The
following narrative description is furnished
in lieu of the proforma statements:
Assuming the Partnership had acquired the
property on January 1, 2003, the Partnership's
Investments in Real Estate would have
increased by $1,923,500 and its Current Assets
(cash) would have decreased by $1,923,500.
The Rental Income for the Partnership would
have increased from $854,937 to $1,004,003 for
the year ended December 31, 2003 if the
Partnership had owned the property during the
period.
Depreciation Expense would have increased by
$33,660 for the year ended December 31, 2003.
The net effect of these proforma adjustments
would have caused Net Income to increase from
$2,596,383 to $2,711,789, which would have
resulted in Net Income of $133.95 per Limited
Partnership Unit outstanding for the year
ended December 31, 2003.
(c) Exhibits
Exhibit 10.1 - Assignment of Purchase
Agreement dated April 22,
2004 between the Partnership
and AEI Fund Management,Inc.
relating to the Property at
2250 Claremont Avenue,
Ashland, Ohio.
Exhibit 10.2 - Assignment & Assumption of
Lease dated April 30, 2004
between the Partnership
and PRECO II CRIC LLC
relating to the Property at
2250 Claremont Avenue,
Ashland, Ohio.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
AEI REAL ESTATE FUND XVII
LIMITED PARTNERSHIP
By: AEI Fund Management XVII, Inc.
Its: General Partner
Date: May 7, 2004 /s/ Patrick W Keene
By: Patrick W. Keene
Its Chief Financial Officer