-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OIvrNmKglPO6d8t71gHTjve/puWMyQVCU+oPqdwB3PELi/lzTOgZy7AMyRNgzDna
 d12AJjegBRg0Qcy2veq/Ug==

<SEC-DOCUMENT>0001179110-03-008200.txt : 20031001
<SEC-HEADER>0001179110-03-008200.hdr.sgml : 20031001
<ACCEPTANCE-DATETIME>20031001170557
ACCESSION NUMBER:		0001179110-03-008200
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030930
FILED AS OF DATE:		20031001

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:			ETTER JAMES F
		CENTRAL INDEX KEY:			0000941359

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14462
		FILM NUMBER:		03921393

	BUSINESS ADDRESS:	
		STREET 1:		C/O AMERIVEST PROPERTIES INC
		STREET 2:		1780 S. BELLAIRE ST. #100
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		3032971800X118

	MAIL ADDRESS:	
		STREET 1:		C/O AMERIVEST PROPERTIES INC
		STREET 2:		1780 S. BELLAIRE ST.
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-09-30</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000927102</issuerCik>
        <issuerName>AMERIVEST PROPERTIES INC</issuerName>
        <issuerTradingSymbol>AMV</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000941359</rptOwnerCik>
            <rptOwnerName>ETTER JAMES F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>107 COLNBROOK ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>IRMO</rptOwnerCity>
            <rptOwnerState>SC</rptOwnerState>
            <rptOwnerZipCode>29063</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeHolding><securityTitle><value>Common Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>21000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeHolding>
<nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-09-30</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>650</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F1"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>11350</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>By Partnership</value>
<footnoteId id="F2"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeHolding><securityTitle><value>Options: Right to Buy</value>
</securityTitle>
<conversionOrExercisePrice><value>5.00</value>
</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F3"></footnoteId>
</exerciseDate>
<expirationDate><value>2004-12-31</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>20000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>20000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Options: Right to Buy</value>
</securityTitle>
<conversionOrExercisePrice><value>5.00</value>
</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F4"></footnoteId>
</exerciseDate>
<expirationDate><value>2004-12-31</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>10000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Option: Right to Buy</value>
</securityTitle>
<conversionOrExercisePrice><value>5.00</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-01-01</value>
</exerciseDate>
<expirationDate><value>2005-01-01</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>10000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Options: Right to Buy</value>
</securityTitle>
<conversionOrExercisePrice><value>4.75</value>
</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F5"></footnoteId>
</exerciseDate>
<expirationDate><value>2005-10-01</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>12000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>12000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
<derivativeHolding><securityTitle><value>Warrant: Right to Buy</value>
</securityTitle>
<conversionOrExercisePrice><value>5.00</value>
</conversionOrExercisePrice>
<exerciseDate><value>2003-01-01</value>
</exerciseDate>
<expirationDate><value>2005-01-01</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>15000</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>15000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeHolding>
</derivativeTable>
<footnotes><footnote id="F1">These shares were acquired by the Issuer by the partnership on behalf of the Reporting Person, at the Reporting Person's direction, pursuant to the Issuer's compensation plan for directors who are not employees of the Issuer.</footnote>
<footnote id="F2">These shares are held by a family limited partnership for which the Reporting Person serves as general partner.</footnote>
<footnote id="F3">Options to purchase 4,000 shares became exercisable on each of May 20, 1995, 1996, 1997, 1998 and 1999.</footnote>
<footnote id="F4">Options to purchase 2,000 shares became exercisable on each of December 9, 1996, 1997, 1998, 1999 and 2000.</footnote>
<footnote id="F5">Options to purchase 4,000 shares became exercisable on each of December 30, 2001 and 2002 and options to purchase 4,000 shares become exercisable on December 30, 2003.</footnote>
</footnotes>
<ownerSignature><signatureName>Kim P. Boswood as Attorney-in-fact</signatureName>
<signatureDate>2003-10-01</signatureDate>
</ownerSignature>
</ownershipDocument>

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