SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  20549

                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15 (d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

       Date of Report (date of earliest event reported)  October 1, 1996

                          IDS/BALCOR INCOME PARTNERS
                       A REAL ESTATE LIMITED PARTNERSHIP
         ------------------------------------------------------------
                           Exact Name of Registrant


Delaware                                0-16797
-----------------------------------     -----------------------------------
State or other jurisdiction             Commission file number

2355 Waukegan Road
Suite A200
Bannockburn, Illinois                   36-3497345
-----------------------------------     -----------------------------------
Address of principal                    I.R.S. Employer
executive offices                       Identification
                                        Number

60015
-----------------------------------
Zip Code


              Registrant's telephone number, including area code:
                                (847) 267-1600
<PAGE>
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
------------------------------------------------------------------------

Salem Courthouse Apartments

In 1988, the Partnership acquired the Salem Courthouse Apartments, West
Lafayette, Indiana, utilizing approximately $8,062,367 in offering proceeds.  

On October 1, 1996, the Partnership contracted to sell the property for a sale
price of $8,725,000 to an unaffiliated party, Samuel Geltman & Co., a New
Jersey corporation.  The purchaser has deposited $150,000 into an escrow
account as earnest money.  The remainder of the purchase price will be payable
in cash at closing, scheduled for November 15, 1996.  The purchaser has the
option to extend the closing date until December 15, 1996 upon 5 days notice to
the Partnership and the deposit of an additional $100,000 in earnest money.  If
the closing is extended, the earnest money is non-refundable for any reason,
except for a default by the Partnership. 

From the proceeds of the sale, the Partnership will pay $152,688 to an
unaffiliated party as a brokerage commission and up to $87,250 to an affiliate
of the third party providing property management services for the property as a
fee for services rendered in connection with the sale of the property.  The
purchaser will receive a $35,000 credit against the sale price for rent
concessions. The remaining proceeds of approximately $8,450,000, less closing
costs, will be retained by the Partnership and will not be available for use or 
distribution by the Partnership until December 26, 1996.  Neither of the 
General Partners or their affiliates  will receive a brokerage commission in 
connection with the sale of the property. The Managing General Partner will be 
reimbursed by the Partnership for actual expenses incurred in connection with 
the sale.  
 
The closing is subject to the satisfaction of numerous terms and conditions.
There can be no assurance that all of the terms and conditions will be complied
with and, therefore, it is possible the sale of the property may not occur.
<PAGE>
ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
----------------------------------------------------------------------

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (2)  (a)  Agreement of Sale and attachment thereto relating
                    to the sale of Salem Courthouse Apartments, West 
                    Lafayette, Indiana.

               (b)  Amendment No. 1 to Agreement of Sale relating to the
                    sale of Salem Courthouse Apartments, West Lafayette,
                    Indiana.

     No information is required under Items 1, 3, 4, 5, 6 and 8 and these items
have, therefore, been omitted.


Signature
-------------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                    IDS/BALCOR INCOME PARTNERS
                    A REAL ESTATE LIMITED PARTNERSHIP

                         By:  Balcor Affiliated Partners-87, Inc., an Illinois
                              corporation, its managing general partner

                          By:  /s/  Jerry M. Ogle
                              ------------------------------------
                                    Jerry M. Ogle, Vice President 
                                    and Secretary

Dated:  October  16, 1996
<PAGE>
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{"company-data": {"conformed-name": "IDS BALCOR INCOME PARTNERS", "cik": "0000811524", "assigned-sic": "6500", "irs-number": "363497345", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-16797", "film-number": "96644323"}, "business-address": {"street1": "4849 GOLF RD", "city": "SKOKIE", "state": "IL", "zip": "60077", "phone": "7086772900"}, "mail-address": {"street1": "4849 GOLF ROAD", "city": "SKOKIE", "state": "IL", "zip": "60077"}}
SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  20549

                                   FORM 8-K

                                CURRENT REPORT

                    PURSUANT TO SECTION 13 OR 15 (d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

       Date of Report (date of earliest event reported)  October 1, 1996

                          IDS/BALCOR INCOME PARTNERS
                       A REAL ESTATE LIMITED PARTNERSHIP
         ------------------------------------------------------------
                           Exact Name of Registrant

Delaware                                0-16797
-----------------------------------     -----------------------------------
State or other jurisdiction             Commission file number

2355 Waukegan Road
Suite A200
Bannockburn, Illinois                   36-3497345
-----------------------------------     -----------------------------------
Address of principal                    I.R.S. Employer
executive offices                       Identification
                                        Number

60015
-----------------------------------
Zip Code

              Registrant's telephone number, including area code:
                                (847) 267-1600
ITEM 2.  ACQUISITION OR DISPOSITION OF ASSETS
------------------------------------------------------------------------

Salem Courthouse Apartments

In 1988, the Partnership acquired the Salem Courthouse Apartments, West
Lafayette, Indiana, utilizing approximately $8,062,367 in offering proceeds.  

On October 1, 1996, the Partnership contracted to sell the property for a sale
price of $8,725,000 to an unaffiliated party, Samuel Geltman & Co., a New
Jersey corporation.  The purchaser has deposited $150,000 into an escrow
account as earnest money.  The remainder of the purchase price will be payable
in cash at closing, scheduled for November 15, 1996.  The purchaser has the
option to extend the closing date until December 15, 1996 upon 5 days notice to
the Partnership and the deposit of an additional $100,000 in earnest money.  If
the closing is extended, the earnest money is non-refundable for any reason,
except for a default by the Partnership. 

From the proceeds of the sale, the Partnership will pay $152,688 to an
unaffiliated party as a brokerage commission and up to $87,250 to an affiliate
of the third party providing property management services for the property as a
fee for services rendered in connection with the sale of the property.  The
purchaser will receive a $35,000 credit against the sale price for rent
concessions. The remaining proceeds of approximately $8,450,000, less closing
costs, will be retained by the Partnership and will not be available for use or 
distribution by the Partnership until December 26, 1996.  Neither of the 
General Partners or their affiliates  will receive a brokerage commission in 
connection with the sale of the property. The Managing General Partner will be 
reimbursed by the Partnership for actual expenses incurred in connection with 
the sale.  
 
The closing is subject to the satisfaction of numerous terms and conditions.
There can be no assurance that all of the terms and conditions will be complied
with and, therefore, it is possible the sale of the property may not occur.
ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
----------------------------------------------------------------------

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (2)  (a)  Agreement of Sale and attachment thereto relating
                    to the sale of Salem Courthouse Apartments, West 
                    Lafayette, Indiana.

               (b)  Amendment No. 1 to Agreement of Sale relating to the
                    sale of Salem Courthouse Apartments, West Lafayette,
                    Indiana.

     No information is required under Items 1, 3, 4, 5, 6 and 8 and these items
have, therefore, been omitted.

Signature
-------------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                    IDS/BALCOR INCOME PARTNERS
                    A REAL ESTATE LIMITED PARTNERSHIP

                         By:  Balcor Affiliated Partners-87, Inc., an Illinois
                              corporation, its managing general partner

                          By:  /s/  Jerry M. Ogle
                              ------------------------------------
                                    Jerry M. Ogle, Vice President 
                                    and Secretary

Dated:  October  16, 1996