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) September 25, 1996
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.)
1300 Minnesota World Trade Center, St. Paul, Minnesota 55101
(Address of Principal Executive Offices)
(612) 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 September 25, 1996, AEI Real Estate Fund XVII
Limited Partnership sold a Danny's Family Car Wash in
Phoenix, Arizona for $1,700,000. The property was sold to
the lessee, who is not affiliated with the Partnership. The
Partnership received net sale proceeds of approximately
$1,696,900, which resulted in a net gain of approximately
$353,281.
Item 7. Financial Statements and Exhibits.
(a) 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 sold the property
on June 30, 1996, the Partnership's
Investments in Real Estate would have been
reduced by $1,354,919 and its Current Assets
(cash) would have been increased by
approximately $1,696,900 and Partner's Capital
would have increased by $341,981.
The Total Income for the Partnership would
have decreased from $2,215,115 to $2,090,631
for the year ended December 31, 1995 and from
$923,400 to $851,028 for six months ended June
30, 1996 if the Partnership consummated the
sale at the beginning of those periods. The
decrease is attributable to the Rental Income
the Partnership would not have received from
the property of $226,298 and $116,916,
partially offset by a increase of Investment
Income of approximately $101,814 and $44,544
for the year ended December 31, 1995 and the
six months ended June 30, 1996, respectively.
Depreciation Expense would have decreased by
$45,200 and $22,600 for the year ended
December 31, 1995 and the six months ended
June 30, 1996, respectively.
The net effect of these pro forma adjustments
would have caused Net Income to decrease from
$3,708,662 to $3,629,378 and from $546,355 to
$496,583, which would have resulted in Net
Income of $155.22 and $21.28 per Limited
Partnership Unit outstanding for the year
ended December 31, 1995 and the six months
ended June 30, 1996, respectively.
(c) Exhibits
Exhibit 10.1 - Real Estate Purchase Agreement
dated June 30, 1996 between the
Partnership and 43rd & Indian
School, Inc. relating to the
property at 43rd Avenue & W.
Indian School Road, Phoenix,
Arizona (incorporated by
reference to Exhibit 10.1 of
Form 10-QSB filed with the
Commission on August 8, 1996).
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: Managing General Partner
Date: October 3, 1996 /s/ Mark E. Larson
By: Mark E. Larson
Its Chief Financial Officer
(Principal Accounting and
Financial Officer)