Exhibit (a)(3)



September 26, 2007


TO:                  UNIT HOLDERS OF INLAND LAND APPRECIATION FUND, L.P.

SUBJECT:             OFFER TO PURCHASE UNITS

Dear Unit Holder:

As  described  in  the  enclosed  Offer  to  Purchase  and  related  Letters  of
Transmittal   (the  "Offer")  the   Purchasers   named  in  the  attached  Offer
(collectively  the  "Purchasers")  are  offering  to purchase up to 591 Units of
limited  partnership  interest (the "Units") in INLAND LAND  APPRECIATION  FUND,
L.P. (the "Partnership") at a purchase price equal to:

                                  $800 per Unit

The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment in INLAND LAND APPRECIATION FUND, L.P. without the usual
transaction costs associated with market sales or partnership transfer fees.
Reasons you may wish to sell your Units include:

      o     PREMIUM TO ERISA  VALUE!  Our Offer is $191 per Unit (or 31%) higher
            than the Partnership's 2006 ERISA value of $609 per Unit, and higher
            than most of the recent secondary market trades (see above).

      o     UNCERTAINTY OF PARTNERSHIP TERMINATION.  Our offer provides you with
            the  opportunity  to  receive  a  guaranteed  amount  of  money in a
            specified time period.  The general  partner has given no indication
            when the partnership will be liquidating.  Therefore,  investors may
            not see liquidity for some time.

      o     ILLIQUIDITY  OF  UNITS.  The  relative   illiquidity  of  the  Units
            resulting  from the  absence of a formal  trading  market  makes the
            Units  difficult to sell.  The Buyers last offered to purchase Units
            in November 2006 at $850 per Unit.

      o     NO FUTURE  IRS FILING  REQUIREMENTS.  The tax year in which you sell
            your Units will be the final year for which you will be obligated to
            file a K-1 for the  Partnership  with  your  tax  return.  This  may
            represent a reduction in costs  associated  with filing  complicated
            tax  returns.  Your  decision  to sell may have other  favorable  or
            unfavorable tax  consequences  and potential  sellers should consult
            their individual tax advisers.

      o     ELIMINATION OF RETIREMENT  ACCOUNT FEES. If you sell your Units, you
            may avoid  incurring fees for having this  investment in your IRA or
            retirement   account.   Because  many   custodians   have   transfer
            restrictions  against limited partnership units or charge additional
            fees for holding this type of asset,  many  investors are faced with
            the task of searching  for a way to avoid these fees.  Once our cash
            payment is sent directly to your retirement account, you are free to
            consolidate  your  retirement  accounts or  transfer  the funds to a
            custodian that offers lower fees.

After  carefully  reading the enclosed Offer, if you elect to tender your Units,
mail (using the  enclosed  pre-addressed,  postage  paid  envelope) or fax (then
mail) a duly completed and executed copy of the Letter of  Transmittal  (printed
on yellow 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 Fuller, LP
                               1640 School Street
                            Moraga, California 94556
                            Facsimile: (925) 631-9119

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

This Offer expires (unless extended) November 9, 2007.