SECURITIES AND EXCHANGE COMMISSION
                                   WASHINGTON, D.C. 20549
                               Rule 13-3 Transaction Statement
        (Pursuant to Section 13(e) of the Securities Exchange Act of 1934)
                                      Amendment No. 2
      DECADE'S MONTHLY INCOME & APPRECIATION FUND -- A LIMITED PARTNERSHIP
                                   (Name of the Issuer)
      DECADE'S MONTHLY INCOME & APPRECIATION FUND -- A LIMITED PARTNERSHIP
                             (Name of Person Filing Statement)
                               Limited Partnership Interests  
                              (Title of Class of Securities)
                                           None
                           (CUSIP Number of Class of Securities)
                                    Jeffrey Keierleber
                                   c/o Decade Companies
       Decade's Monthly Income & Appreciation Fund--A Limited Partnership
                             250 Patrick Boulevard, Suite 140
                             Brookfield, Wisconsin  53045-5864
                                      with copies to
                                 Conrad G. Goodkind, Esq.
                                      Quarles & Brady
                                  411 E. Wisconsin Avenue
                             Milwaukee, Wisconsin  53202-4497

        (Names, Addresses and Telephone Numbers of Persons Authorized to
                            Receive Notices and Communications
                          on Behalf of Person Filing Statement.)
        This Statement is filed in connection with (check the appropriate
                                           box):
     a.  [  ]  The filing of solicitation materials or an information
     statement subject to Regulation 14A, Regulation 14C or           Rule
     13e-3(c) under the Securities Exchange Act of 1934.
     b.  [  ]  The filing of a registration statement under the Securities
     Act of 1933.
     c.  [X]  A tender offer.
     d.  [  ]  None of the above.
     Check the following box if the soliciting materials or information
     statement referred to are preliminary copies:


           This Amendment No. 2 to Rule 13e-3 Transaction Statement (the
"Statement") relates to an issuer tender offer by Decade's Monthly
Income & Appreciation Fund -- a Limited Partnership (the "Partnership") to
purchase outstanding limited partnership interests (the "Interests") upon the
terms and subject to the conditions set forth in the Offer to Purchase, dated
November 21, 1995 (including the annexes thereto, the "Offer to Purchase"),
and in the related Letter of Acceptance (which together constitute the
"Offer"), copies of which have already been filed as Exhibits (d)(1) and
(d)(2) hereto, respectively.  This Statement is being filed by the
Partnership.
          Capitalized terms used in this Statement and not defined herein
shall have the meanings set forth in the Offer to Purchase.
      Concurrently with the filing of this Statement, the Partnership is
filing with the Securities and Exchange Commission, an Amendment to the
Schedule 13E-4 Issuer Tender Offer Statement.  A copy of the Offer to
Purchase was attached as Exhibit 1 thereto.  The information contained
in the Offer to Purchase is incorporated by reference in answer to the
items of this Statement and the Cross Reference Sheet set forth below
shows the location in the Offer to Purchase of the information required
to be included in response to the items of this Statement.  The information
contained in the Offer to Purchase, including all exhibits and annexes
thereto, is hereby expressly incorporated by reference and the responses
to each item herein are qualified in their entirety by reference to the
information contained in the Offer to Purchase and the exhibits and annexes
thereto.


                      CROSS REFERENCE SHEET
               (Pursuant to General Instruction to Schedule 13E-3)

 Item of             Location in Offer to Repurchase Schedule 13E-3
                     (for incorporation by reference)
 Item 1.        Issuer and Class of Security Subject to the Transaction.
 (a)       "The Partnership--Background of the Partnership."
 (b)       "The Partnership--Background of the Partnership."
 (c)       "Lack of Market and Distributions."
 (d)       "Lack of Market and Distributions."
 (e)       Not Applicable.
 (f)       Not Applicable.
 Item 2.        Identity and Background.
 This Schedule 13E-3 is being filed only by the Partnership, the issuer of
the class of securities which is the subject of this Rule 13e-3 transaction.
 (a)-(d)        "The Partnership--Background of the Partnership."
 (e)-(f)        During the past five years, neither the Partnership nor
                any of the persons enumerated in General Instruction C
                to Schedule 13E-3 has been (i) convicted in a criminal
                proceeding (excluding traffic violations or similar
                misdemeanors) or (ii) a party to a civil proceeding of
                a judicial or administrative body of competent
                jurisdiction, and, as a result of such proceeding, was
                or is subject to a judgment, decree or final order
                enjoining further violation of, or prohibiting
                activities subject to, federal or state securities laws
                or finding any violation of such laws.
 (g)       All relevant persons are citizens of the United States of
           America.
 Item 3.        Past Contacts, Transactions or Negotiations.
 (a)       Not Applicable as the Schedule is being filed by the issuer
           alone.
 (b)       "The Partnership--Interests of Certain Persons in the Offer."
 Item 4.        Terms of the Transaction.
 (a)       "The Offer."



 (b)       "The Offer--Proration Rights."
           Item 5.        Plans or Proposals of the Issuer or Affiliate.
 (a)-(g)        "The Partnership--Certain Effects of the Offer;" "The
                Partnership--Conduct of the Partnership After the
                Offer."

 Item 6.        Source and Amount of Funds or Other Consideration.
 (a)-(d)        "Financing the Offer."

 Item 7.        Purposes, Alternatives, Reasons and Effects.
 (a)-(c)        "The Partnership--Background for the Offer."
 (d)       "The Partnership--Certain Effects of the Offer."
 Item 8.        Fairness of the Transaction.
 (a)-(f)        "The Partnership--Determination of the Offer Price."
 Item 9.        Reports, Opinions, Appraisals and Certain Negotiations.
 (a)-(c)        "The Partnership--November 1994 Appraisal of The
                Meadows I;" "The Partnership--Opinion of The Valuations
                Group."
 Item 10.  Interest in Securities of the Issuer.
 (a)-(b)        "Security Ownership."
 Item 11.  Contracts, Arrangements or Understandings with Respect to the
 Issuer's Securities.
           "The Partnership--Interests of Certain Persons in the Offer."
 Item 12.  Present Intention and Recommendation of Certain Persons with
 Regard to the Transaction.
 (a)       "The Partnership--Interests of Certain Persons in the Offer."
 (b)       "Security Ownership;" "The Offer."
 Item 13.  Other Provisions of the Transaction.
 (a)       "The Offer."
 (b)-(c)        Not Applicable.
 Item 14.  Financial Information.
 (a)       "Financial Statements."



 (b)       "Pro Forma Financial Data."
Item 15.  Persons and Assets Employed, Retained or Utilized.
(a)-(b)        "The Offer;" "Financing the Offer--Estimated Costs and
                Fees."
 Item 16.  Additional Information.
           The Offer, the Annex and Exhibits attached hereto.
 Item 17.  Material to be filed as Exhibits
 (a)       Not Applicable


                                                             Page
                                                             Number is
                                                             Sequentially
                                                             Numbered in
(b)  (1)  Fairness opinion of The Valuations Group           Amendment No.
          (attached as Annex B to the Offer to               1 to Schedule
          Purchase).                                         *

      (2)  Appraisal of The Meadows I, Report Letter         *
           dated November 18, 1994, of T.M. Warner MAI,
           SRA (attached as Annex A to the Offer to
           Purchase).
      (3)  Analysis of The Valuations Group forwarded to     *
           the Partnership supporting fairness opinion.
      (4)  The Partnership's Cover Letter to Limited         *
           Partners, with the Offer to Purchase.
      (5)  Supplemental Letter to Limited Partners.
      (6)  Cover Letter to Limited Partners, dated
           December 7, 1995.
 (c)       Not Applicable.
 (d)  (1)  Offer To Purchase, dated November 21, 1995.       *
      (2)  Letter of Acceptance.                             *
 (e)       Not Applicable.
 (f)       Not Applicable.

 *Previously Filed


                                SIGNATURES
     After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete
and correct.

 Dated:  December 6, 1995.


                                    DECADE'S MONTHLY INCOME & APPRECIATION
                                    FUND -- A LIMITED PARTNERSHIP


                                    BY:   /s/Jeffrey Keierleber
                                         Jeffrey Keierleber, General
                                         Partner of Decade Companies,
                                         General Partner of the Partnership