Exhibit (a)(3)








June 21, 2001



TO:          UNIT HOLDERS OF BRAUVIN REAL ESTATE FUND L.P. 4

SUBJECT:     OFFER TO PURCHASE UNITS

Dear Unit Holder:

         As described in the enclosed Offer to Purchase and related Letters of
Transmittal (the "Offer"), MP FALCON GROWTH FUND, LLC; ACCELERATED HIGH YIELD
INSTITUTIONAL INVESTORS, LTD.; MP VALUE FUND 7, LLC; MP VALUE FUND 4, LLC; MP
DEWAAY FUND, LLC; MORAGA FUND 1, L.P; MORAGA GOLD, LLC; MP INCOME FUND 13, LLC;
STEVEN GOLD and PREVIOUSLY OWNED PARTNERSHIPS INCOME FUND II, L.P. (collectively
the "Purchasers") are offering to purchase up to 4,770 Units of limited
partnership interest (the "Units") in BRAUVIN REAL ESTATE FUND L.P. 4, a
Delaware limited partnership (the "Partnership") at a purchase price equal to:

                                  $100 per Unit

 The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment in BRAUVIN REAL ESTATE FUND L.P. 4 without the usual
transaction costs associated with market sales or partnership transfer fees.

In considering selling your interest in the Partnership, please review the
following facts (which are based on information included in the Partnership's
periodic public reports):

o            In the definitive proxy solicitation sent out to investors on June
             14, 1999, the General Partners requested the approval to sell all
             of the Partnership's assets for a minimum sale price of 70% of the
             cumulative appraised value of the Properties or $8,940,050.
             Subsequently, this request was approved. Therefore, if the
             Properties are sold for the minimum sale price, the Limited
             Partners would receive substantially less than the most recently
             published cumulative appraised value, which was the basis for the
             General Partner's estimate for distributions to limited partners.

o            In the same proxy solicitation, the General Partners intended to
             conduct the sale in an aggressive and efficient manner, followed by
             timely distributions to Limited Partners. Accordingly, the General
             Partners established a time line of goals for completion of the
             sale of the properties, in which a final distribution to investors
             was to be paid by February 12, 2000. More than a year and a half
             since the General Partners received approval to sell the
             Partnership Properties NO Properties have been sold, despite the
             fact that several offers have been made.

o            Over the past year, several of the Partnership's Properties have
             suffered substantially. The Raleigh Springs Marketplace, has seen a
             substantial decrease in occupancy from 93% as of December 31, 1999
             to 80% as of March 31, 2000.

o            The Fortune Professional Building has historically seen huge
             fluctuations in its occupancy rate. For example, as of the end of
             1999 the building was 89% occupied, however, at the end of 2000 the
             occupancy had dropped to 56% and back up to 70% as of March 31,
             2001.

o            The Sabal Palm Square lost its anchor tenant, Winn Dixie in 1998,
             and just received notice that Walgreens plans to vacate their space
             prior to the end of their lease term. Both tenants are liable for
             rent payments until 2005 and 2025, respectively. However, without
             taking into account the possible loss of Walgreens, the property
             has 62% of its rentable space vacant.

o            Market conditions have weakened in several markets in which the
             Partnership has properties, therefore, resulting in lower than
             anticipated cash flows. Hence, the Partnership has not paid a
             distribution in over 7 years.



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After carefully reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed pre-addressed, postage paid envelope) or telecopy a
duly completed and executed copy of the Letter of Transmittal (printed on grey
paper) and Change of Address forms, and any other documents required by the
Letter of Transmittal, to the Depositary for the Offer at:

                           MacKenzie Patterson, Inc.,
                               1640 School Street
                            Moraga, California 94556
                            Telecopy: (925) 631-9119

         If you have any questions or need assistance, please call the
Depository at 800-854-8357.

               This Offer expires (unless extended) July 27, 2001.





















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