UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 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): November 9, 2006

                          ICON Leasing Fund Eleven, LLC

               (Exact Name of Registrant as Specified in Charter)


               Delaware                    000-51916         20-1979428
------------------------------------  ----------------  ---------------------
    (State or Other Jurisdiction of       (Commission     (I.R.S. Employer
------------------------------------  ----------------  ---------------------
            Incorporation)                File Number)   Identification No.)

                           100 Fifth Avenue, 4th Floor
                            New York, New York 10011

                    (Address of Principal Executive Offices)
                              --------------------

                                 (212) 418-4700
              (Registrant's telephone number, including area code)

          (Former name or former address, if changed since last report)
                              --------------------

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[    ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[    ]  Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[    ]  Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))

[    ]  Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CFR 240.13e-4(c))



<PAGE>


Item 8.01 Other Events


Lease Financing for The Teal Jones Group

     On November 9, 2006, ICON Leasing Fund Eleven,  LLC ("Fund Eleven") entered
into a lease  financing  arrangement  with The Teal  Jones  Group and Teal Jones
Lumber Services, Inc. (collectively,  "Teal Jones") by acquiring from Teal Jones
substantially all of the equipment, plant and machinery used by it in its lumber
processing  operations  in Canada and the United  States.  Fund  Eleven and Teal
Jones entered into an eighty four month lease which will expire in November 2013
and is secured by a lien on certain  land located in British  Columbia  owned by
Teal Jones and where  substantially all of the Equipment is operated.  The total
lease financing amount was approximately $36,000,000.



<PAGE>


                                   SIGNATURES

         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.


                                           ICON LEASING FUND ELEVEN, LLC
                                           By:  ICON CAPITAL CORP., its Manager


Dated:  November 27, 2006
                                           By: /s/ Thomas W. Martin
                                               -------------------------------
                                                Thomas W. Martin
                                                Chief Operating Officer
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{"company-data": {"conformed-name": "ICON Leasing Fund Eleven, LLC", "cik": "0001312910", "assigned-sic": "7359", "irs-number": "201979428", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51916", "film-number": "061239031"}, "business-address": {"street1": "100 FIFTH AVENUE", "street2": "TENTH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10011", "phone": "2124184700"}, "mail-address": {"street1": "100 FIFTH AVENUE", "street2": "TENTH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10011"}}
UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 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): November 9, 2006

                          ICON Leasing Fund Eleven, LLC

               (Exact Name of Registrant as Specified in Charter)

               Delaware                    000-51916         20-1979428
------------------------------------  ----------------  ---------------------
    (State or Other Jurisdiction of       (Commission     (I.R.S. Employer
------------------------------------  ----------------  ---------------------
            Incorporation)                File Number)   Identification No.)

                           100 Fifth Avenue, 4th Floor
                            New York, New York 10011

                    (Address of Principal Executive Offices)
                              --------------------

                                 (212) 418-4700
              (Registrant's telephone number, including area code)

          (Former name or former address, if changed since last report)
                              --------------------

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[    ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[    ]  Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[    ]  Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))

[    ]  Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events

Lease Financing for The Teal Jones Group

     On November 9, 2006, ICON Leasing Fund Eleven,  LLC ("Fund Eleven") entered
into a lease  financing  arrangement  with The Teal  Jones  Group and Teal Jones
Lumber Services, Inc. (collectively,  "Teal Jones") by acquiring from Teal Jones
substantially all of the equipment, plant and machinery used by it in its lumber
processing  operations  in Canada and the United  States.  Fund  Eleven and Teal
Jones entered into an eighty four month lease which will expire in November 2013
and is secured by a lien on certain  land located in British  Columbia  owned by
Teal Jones and where  substantially all of the Equipment is operated.  The total
lease financing amount was approximately $36,000,000.
SIGNATURES

         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.

                                           ICON LEASING FUND ELEVEN, LLC
                                           By:  ICON CAPITAL CORP., its Manager

Dated:  November 27, 2006
                                           By: /s/ Thomas W. Martin
                                               -------------------------------
                                                Thomas W. Martin
                                                Chief Operating Officer