-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MjD5NKd65msogbl1EEXSB3RKYFh/o+B80Y9nr417sTWUzfouKca/abTCzXWv1mcq
 XQitcE7KhQxu0au5gDz/CQ==

<SEC-DOCUMENT>0000932384-04-000050.txt : 20040116
<SEC-HEADER>0000932384-04-000050.hdr.sgml : 20040116
<ACCEPTANCE-DATETIME>20040116161946
ACCESSION NUMBER:		0000932384-04-000050
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040114
FILED AS OF DATE:		20040116

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERIVEST PROPERTIES INC
		CENTRAL INDEX KEY:			0000927102
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				841240264
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1780 S BELLAIRE ST
		STREET 2:		SUITE 515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		3032971800

	MAIL ADDRESS:	
		STREET 1:		1780 S. BELLAIRE ST.
		STREET 2:		SUITE 515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ALEXANDER S HEWITT
		CENTRAL INDEX KEY:			0001093680

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14462
		FILM NUMBER:		04529960

	BUSINESS ADDRESS:	
		STREET 1:		C/O THE SHERIDAN GROUP
		STREET 2:		1780 S. BELLAIRE STEET, SUITE 515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		303-297-1800

	MAIL ADDRESS:	
		STREET 1:		C/O THE SHERIDAN GROUP
		STREET 2:		1780 S. BELLAIRE STEET, SUITE 515
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222

	FORMER NAME:	
		FORMER CONFORMED NAME:	HEWITT ALEXANDER S
		DATE OF NAME CHANGE:	19990823
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>zhewitt546138_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2004-01-14</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000927102</issuerCik>
        <issuerName>AMERIVEST PROPERTIES INC</issuerName>
        <issuerTradingSymbol>AMV</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001093680</rptOwnerCik>
            <rptOwnerName>ALEXANDER S HEWITT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1780 SOUTH BELLAIRE STREET, SUITE 100</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80222</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Vice President</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2004-01-14</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>X</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>246000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>5.00</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>765308</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <transactionDate>
         <value>2004-01-14</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F1"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>170360</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>7.22</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>594948</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Common Stock Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>5.00</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2004-01-14</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>X</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>246000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2003-01-01</value>
      </exerciseDate>
      <expirationDate>
         <value>2005-12-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>246000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Company withheld shares of common stock to pay option exercise price, withholding is treated as a &quot;sale&quot; for the purposes of section 16.</footnote>

      <footnote id="F2"> 587,649 shares are held directly.  352,294 shares are held by Sheridan Realty Advisors, LLC; 166,826 shares are held by Sheridan Management Corp.; and 75,828 shares are held by Sheridan Realty Corp., each an entity with respect to which the filing person may be deemed to have beneficial ownership. Reporting person disclaims beneficial ownership over an aggregate of 312,021 such shares of common stock.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Deborah J. Friedman as attorney-in-fact</signatureName>
      <signatureDate>2004-01-16</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----