-----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,
 EJaRmp1RnpA+pIhyJuGFQ99PsUHykh2tIKkW/PfAmdMwD7DbRXiXuSFaNHMdIPkS
 gKPJPhcfnPWbBTYqGbxtpA==

<SEC-DOCUMENT>0001179110-03-008209.txt : 20031001
<SEC-HEADER>0001179110-03-008209.hdr.sgml : 20031001
<ACCEPTANCE-DATETIME>20031001171642
ACCESSION NUMBER:		0001179110-03-008209
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:			TEPPER JERRY J
		CENTRAL INDEX KEY:			0001129613

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14462
		FILM NUMBER:		03921502

	BUSINESS ADDRESS:	
		STREET 1:		1780 SOUTH BELLAIRE STREET
		STREET 2:		SUITE 100
		CITY:			DENVER
		STATE:			CO
		ZIP:			80222
		BUSINESS PHONE:		303-297-1800

	MAIL ADDRESS:	
		STREET 1:		1780 SOUTH BELLAIRE STREET
		STREET 2:		SUITE 100
		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>0001129613</rptOwnerCik>
            <rptOwnerName>TEPPER JERRY J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>7255 NORTH SHERIDAN STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARVADA</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80003</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><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>850</value>
</transactionShares>
<transactionPricePerShare><footnoteId id="F1"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>41600</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeHolding><securityTitle><value>Common Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>420000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>I</value>
</directOrIndirectOwnership>
<natureOfOwnership><value>See Footnote</value>
<footnoteId id="F2"></footnoteId>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<derivativeTable><derivativeHolding><securityTitle><value>Options: Right to Purchase</value>
<footnoteId id="F3"></footnoteId>
</securityTitle>
<conversionOrExercisePrice><value>4.75</value>
</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F4"></footnoteId>
</exerciseDate>
<expirationDate><value>2005-12-18</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>Options:  Right to Purchase</value>
<footnoteId id="F3"></footnoteId>
</securityTitle>
<conversionOrExercisePrice><value>6.22</value>
</conversionOrExercisePrice>
<exerciseDate><footnoteId id="F5"></footnoteId>
</exerciseDate>
<expirationDate><value>2007-12-30</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>
</derivativeTable>
<footnotes><footnote id="F1">These shares were acquired by the Reporting Person from the Issuer pursuant to the Issuer's compensation plan for directors who are not employees of the Issuer.</footnote>
<footnote id="F2">Held by corporations in which the Reporting Person has an indirect pecuniary interest.  The Reporting Person disclaims beneficial ownership over the portion of the interest not attributable to the Reporting Person.</footnote>
<footnote id="F3">Previously reported.</footnote>
<footnote id="F4">Options to purchase 4,000 shares became exercisable on each of December 31, 2000, 2001 and 2002.</footnote>
<footnote id="F5">Options to purchase 4,000 shares become exercisable on each of December 30, 2003, 2004 and 2005.</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-----