Exhibit (a)(7)









                               SUPPLEMENT TO OFFER

                                 August 17, 2001

TO:          UNIT HOLDERS OF BRAUVIN REAL ESTATE FUND L.P. 5

SUBJECT:     INCREASE IN PRICE AND EXTENSION OF OFFER TO PURCHASE UNITS

Dear Unit Holder:

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 extending their offer to purchase up to 4,950 Units of limited
partnership interest (the "Units") in BRAUVIN REAL ESTATE FUND L.P. 4, a
Delaware limited partnership (the "Partnership") AND ARE INCREASING THEIR
PURCHASE PRICE TO:

                                  $120 per Unit


The expiration date of the offer has been extended to SEPTEMBER 17, 2001 (unless
it is further extended).

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