SECURITIES AND EXCHANGE COMMISSION 
                              Washington, D.C. 
  
                                  FORM 15 
  
 Certification and Notice of Termination of Registration under Section 12(g)
 of the Securities Exchange Act of 1934 or Suspension of Duty to File Reports
     Under Sections 13 and 15(d) of the Securities Exchange Act of 1934.

 
                     Commission file Number:  1-14132 
  

                        AMBASSADOR APARTMENTS, INC. 
           (Exact name of registrant as specified in its charter) 

  
                 77 West Wacker Drive, Chicago, Illinois 60601 
      (Address, including zip code, and telephone number, including area
               code, of registrant's principal executive offices) 
  

                  Common Stock, par value $0.01 per share 
          (Title of each class of securities covered by this Form) 
  

                                    None 
      (Titles of all other classes of securities for which a duty to file
                 reports under section 13(a) or 15(d) remains) 
  

      Please place an X in the box(es) to designate the appropriate rule
 provision(s) relied upon to terminate or suspend the duty to file reports: 
  
           Rule 12g-4(a)(1)(i)   [X]              Rule 12h-3(b)(1)(ii)  [ ] 
           Rule 12g-4(a)(1)(ii)  [ ]              Rule 12h-3(b)(2)(i)   [ ] 
           Rule 12g-4(a)(2)(i)   [ ]              Rule 12h-3(b)(2)(ii)  [ ] 
           Rule 12g-4(a)(2)(ii)  [ ]              Rule 15d-6            [ ] 
           Rule 12h-3(b)(1)(i)   [X] 
  
      Approximate number of holders of record as of the certification or
 notice date: One 
  
      Pursuant to the requirements of the Securities Exchange Act of 1934
 Ambassador Apartments, Inc. has caused this certification/notice to be
 signed on its behalf by the undersigned duly authorized person. 
  
 DATE:       May 12, 1998            BY:  /s/ Peter K. Kompaniez
                                        ------------------------------------
                                        Peter K. Kompaniez, President of
                                        Apartment Investment and Management
                                        Company 

  
 Instruction:  This form is required by Rules 12g-4, 12h-3 and 15d-6 of the
 General Rules and Regulations under the Securities Exchange Act of 1934. 
 The registrant shall file with the Commission three copies of Form 15, one
 of which shall be manually signed.  It may be signed by an officer of the
 registrant, by counsel or by any other duly authorized person.  The name
 and title of the person signing the form shall be typed or printed under
 the signature.