SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Schedule TO

               Tender Offer Statement Pursuant to Section 14(d)(1)
                     of the Securities Exchange Act of 1934

                            (Name of Subject Company)

                       Urban Improvement Fund Limited-1973

                        A California limited partnership

                              at $400 Net Per Unit

                                       by

               Equity Resource Lexington Fund Limited Partnership,
                       a Massachusetts limited partnership

                          Equity Resources Group, Inc.
                               Eggert Dagbjartsson

                            Limited Partnership Units

                  Eggert Dagbjartsson, Executive Vice President
                          Equity Resources Group, Inc.
                                44 Brattle Street
                               Cambridge, MA 02138
                                 (617) 876-4800

                            Calculation of Filing Fee

================================================================================

                Transaction Valuation*                   Amount of Filing Fee
                        $472,000                                 $94.40
- -------------------------------------------------------------------------- -----

*    For purposes of calculating the filing fee only. This calculation assumes
     the purchase of 1,180 Units at a purchase price of $400 per Unit in the
     Partnership.

[_]  Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
     and identify the filing with which the offsetting fee was previously paid.
     Identify the previous filing by registration statement number, or the Form
     or Schedule and the date of its filing.
- --------------------------------------------------------------------------------

     Amount Previously Paid:    Not Applicable    Filing Party:  Not Applicable
     Form of Registration No.:  Not Applicable    Date Filed:    Not Applicable
- --------------------------------------------------------------------------------

================================================================================



                                  TENDER OFFER

         This Tender Offer Statement on Schedule TO (the "Schedule TO") relates
to an offer by Equity Resource Lexington Fund, Limited Partnership, a
Massachusetts limited partnership, Eggert Dagbjartsson, its general partner and
Equity Resources Group, Inc., its manager (collectively the "Purchaser") to
purchase 1,180 units (the "Units") of limited partnership interests in Urban
Improvement Fund Limited-1973, a California limited partnership (the
"Partnership"), at $400 for each Unit, net to the seller in cash, without
interest, less the amount of any distributions declared or paid from any source
by the Partnership with respect to the Units after June 6, 2002 (without regard
to the record date), upon the terms and subject to the conditions set forth in
the Offer to Purchase (the "Offer to Purchase") and in the related Agreement of
Sale, copies of which are attached hereto as Exhibits (a)(l) and (a)(3) (which
are herein collectively referred to as the "Offer"). The information in the
Offer to Purchase, including all schedules and annexes thereto, is hereby
expressly incorporated herein by reference in response to all the items of this
Statement, except as otherwise set forth below.

Item 12.          Exhibits

            (a)(1)    Offer to Purchase, dated June 6, 2002
            (a)(2)    Transmittal letter, dated June 6, 2002
            (a)(3)    Agreement of Sale
            (a)(4)    Summary Advertisement
            (b)       Not applicable
            (c)       Not applicable
            (d)       Not applicable
            (e)       Not applicable
            (f)       Not applicable
            (g)       Not applicable
            (h)       Not applicable



                                    SIGNATURE

            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:      June 6, 2002    Equity Resource Lexington Fund Limited Partnership,
                                    a Massachusetts limited partnership

                                    By:  /s/  Eggert Dagbjartsson
                                         ---------------------------------------
                                                Eggert Dagbjartsson
                                                General Partner

                                    Equity Resources Group, Inc.
                                    A Massachusetts Corporation

                                    By:  /s/  Eggert Dagbjartsson
                                         ---------------------------------------
                                                Eggert Dagbjartsson
                                                Executive Vice President

                                    Eggert Dagbjartsson

                                    By:  /s/  Eggert Dagbjartsson
                                         ---------------------------------------
                                                Eggert Dagbjartsson



                                  EXHIBIT INDEX

- --------------------------------------------------------------------------------
                                                              Sequential
Exhibit No.                         Description              Page Number
- --------------------------------------------------------------------------------

(a)(1) -         Offer to Purchase, dated June 6, 2002.          4-28
- --------------------------------------------------------------------------------

(a)(2) -         Transmittal letter, dated June 6, 2002.          29
- --------------------------------------------------------------------------------

(a)(3) -         Agreement of Sale                              30-33
- --------------------------------------------------------------------------------

(a)(4)           Summary Advertisement                            34
- --------------------------------------------------------------------------------

(b) -            Not applicable.
- --------------------------------------------------------------------------------

(c) -            Not applicable.
- --------------------------------------------------------------------------------

(d) -            Not applicable.
- --------------------------------------------------------------------------------

(e) -            Not applicable.
- --------------------------------------------------------------------------------

(f) -            Not applicable.
- --------------------------------------------------------------------------------

(g)              Not applicable
- --------------------------------------------------------------------------------

(h)              Not applicable.
- --------------------------------------------------------------------------------