<ARTICLE> 5
<CIK> 0001067173
<NAME> SPG REALTY CONSULTANTS INC
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                          23,546
<SECURITIES>                                         0
<RECEIVABLES>                                      499<F1>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F2>
<PP&E>                                          33,397
<DEPRECIATION>                                  11,000
<TOTAL-ASSETS>                                  50,754
<CURRENT-LIABILITIES>                                0<F2>
<BONDS>                                         21,556
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             2
<OTHER-SE>                                      14,817
<TOTAL-LIABILITY-AND-EQUITY>                    50,754<F3>
<SALES>                                              0
<TOTAL-REVENUES>                                 3,150
<CGS>                                                0
<TOTAL-COSTS>                                    7,376
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               1,013
<INCOME-PRETAX>                                (4,835)
<INCOME-TAX>                                     (193)
<INCOME-CONTINUING>                            (4,642)
<DISCONTINUED>                                 (4,642)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (4,642)
<EPS-PRIMARY>                                   (7.79)
<EPS-DILUTED>                                   (7.79)
<FN>
<F1>Receivables are stated net of allowances.
<F2>The Registrant does not report using a classified balance sheet.
<F3>Includes limited partner's interest in the SRC Operating Partnership of 
$5,889.
</FN>