December 20, 1995


          Decade's Monthly Income and Appreciation Fund
                     - A Limited Partnership

        Third Supplemental Letter to All Limited Partners


                          Introduction

     In addition to the information set forth in the Offer to
Purchase and the Annexes and Exhibits thereto and the First and
Second Supplemental Letters sent to all Limited Partners, Limited
Partners of Decade's Monthly Income & Appreciation Fund -- A
Limited Partnership (the "Partnership") should carefully consider
the following information in deciding whether to tender limited
partnership interests ("Interests") for $800 cash per Interest
under the terms and subject to the conditions set forth in this
Offer to Purchase, the Supplemental Letters to Limited Partners
and in the related Letter of Acceptance (which constitute the
"Offer").  The Offer, proration period, and withdrawal rights
will expire at 12:00 midnight, Milwaukee time, on December 29,
1995, unless extended by the Partnership.  The Partnership will
also accept up to 3,707 Interests, conditioned upon the financing
for which the Partnership has recently obtained a commitment from
Associated Bank.


                Expected Financing To Fund Offer

     The Partnership intends to enter into a credit facility with
Associated Bank, N.A. ("Credit Facility"), and such financing
would be available to fund additional purchases of Interests in
this Offer.  While the Agreement has to be executed, the
Partnership has obtained a commitment from Associated Bank such
that it may borrow up to $1,850,000 at an interest rate of prime
(reset monthly).  The Partnership will provide Associated Bank
N.A. with a first mortgage and assignment of rents from The
Meadows I and also pay a 1/2% origination fee.  The Credit
Facility will be due three years after it is entered into, and
interest payments and amortization payments, based upon a 25-year
term, will be due on the first of each month.

     It is anticipated that the Credit Facility will be entered
into on or about December 28, 1995.  The commitment for the
Credit Facility is conditioned upon Associated Bank N.A.
receiving an appraisal of The Meadows I in excess of $2,500,000,
receiving a suitable architect's inspection report, and receiving
an acceptable Phase I environmental report on The Meadows I.  The
Partnership believes it will be able to provide such documents
and assist Associated Bank N.A. in obtaining such documents.  The
Credit Facility will be prepayable by the Partnership at any
time, without premium or penalty.  The Partnership will be
required to make prepayments from the proceeds of any sale of The
Meadows I.  The Partnership anticipates making required interest
and principal payments on the Credit Facility from operating cash
flow.


                      Offer Expiration Date

     The Offer, withdrawal and proration rights will expire on
December 29, 1995, 12:00 midnight, Milwaukee time, unless
otherwise extended.


                   Tendered Interests To Date

     As of noon, December 19, 1995, 337 Limited Partners have
tendered 2,816.87 Interests.