10-Q/A

   1


   
                                  FORM 10-Q/A

                                AMENDMENT NO. 1
    

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED                June 30, 1998
                               -------------------------------------------------

                                       OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM                     N/A
                               -------------------------------------------------

COMMISSION FILE NUMBER                          0-18563
                       ---------------------------------------------------------


             JOHN HANCOCK REALTY INCOME FUND-III LIMITED PARTNERSHIP
- --------------------------------------------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

         Massachusetts                                          04-3025607
- -------------------------------                             -------------------
(STATE OR OTHER JURISDICTION OF                              (I.R.S. EMPLOYER 
INCORPORATION OR ORGANIZATION)                              IDENTIFICATION NO.)


                     200 Clarendon Street, Boston, MA 02116
- --------------------------------------------------------------------------------
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
                                   (ZIP CODE)


                                 (800) 722-5457
- --------------------------------------------------------------------------------
               REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:


                                       N/A
- --------------------------------------------------------------------------------
      (FORMER NAME, FORMER ADDRESS AND FORMER FISCAL YEAR, IF CHANGED SINCE
                                  LAST REPORT)


INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED
TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING
THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS
REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING
REQUIREMENTS FOR THE PAST 90 DAYS.
                                                   
                           Yes  [X]     No  [ ]


   
This amended filing is being submitted due at a typographical error on the
Financial Data Schedule, Exhibit 27.
    





   2
             JOHN HANCOCK REALTY INCOME FUND-III LIMITED PARTNERSHIP
                      (A MASSACHUSETTS LIMITED PARTNERSHIP)




                                   SIGNATURES


   
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Amended Report to be signed on its behalf by the
undersigned, thereunto duly authorized, on the 14th day of August, 1998.
    


                                   John Hancock Realty Income Fund-III
                                   Limited Partnership


                                   By:  John Hancock Realty Equities, Inc.,
                                        General Partner


   
                                   By: /s/ William M. Fitzgerald
                                       ----------------------------------------
                                       William M. Fitzgerald, President



                                   By: /s/ Richard E. Frank
                                       ---------------------------------------- 
                                       Richard E. Frank, Treasurer
                                       (Chief Accounting Officer)
    

EX-27

 

<ARTICLE> 5
<CIK> 0000842741
<NAME> JOHN HANCOCK REALTY INCOME FUND-III LIMITED PARTNERSHIP
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                       3,133,756
<SECURITIES>                                   270,750
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                             3,404,506
<PP&E>                                      33,353,075
<DEPRECIATION>                               5,893,581
<TOTAL-ASSETS>                              39,362,644
<CURRENT-LIABILITIES>                          678,463
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                  38,684,181
<TOTAL-LIABILITY-AND-EQUITY>                39,362,644
<SALES>                                              0
<TOTAL-REVENUES>                             2,283,977
<CGS>                                                0
<TOTAL-COSTS>                                  330,683
<OTHER-EXPENSES>                               598,726
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                              1,354,568
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          1,354,568
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 1,354,568
<EPS-PRIMARY>                                     0.46
<EPS-DILUTED>                                     0.46