UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-10491         

        Nuveen Real Estate Income Fund         
(Exact name of registrant as specified in charter)

        333 West Wacker Drive, Chicago, Illinois, 60606         
Address of principal executive offices) (Zip code)

Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois, 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            12/31          

Date of reporting period:          09/30/04         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)
Nuveen Real Estate Income Fund (JRS)
September 30, 2004

							Market
	Shares		Description(1)				Value
			COMMON STOCKS - 85.0% (65.1% of Total Investments)
			Apartments - 14.1%
$	526,300		AMLI Residential Properties Trust				$    16,078,465
	130,300		Apartment Investment & Management Company, Series A				4,531,834
	870,000		Archstone-Smith Trust				27,526,800
	516,400		AvalonBay Communities, Inc.				31,097,608
			Healthcare - 12.6%
	1,912,300		Nationwide Health Properties Inc., Series A				39,680,225
	1,740,300		Senior Housing Properties Trust				31,012,146
			Hotel - 0.8%
	492,564		Hersha Hospitality Trust				4,630,102
			Industrial - 3.4%
	517,100		First Industrial Realty Trust, Inc.				19,080,990
			Office - 33.2%
	1,388,800		Arden Realty, Inc.				45,247,104
	3,642,100		HRPT Properties Trust				40,026,679
	1,351,500		Mack-Cali Realty Corporation				59,871,450
	298,100		Maguire Properties, Inc.				7,246,811
	1,205,600		Reckson Associates Realty Corporation				34,661,000
			Regional Malls - 13.4%
	807,600		Glimcher Realty Trust				19,624,680
	1,044,100		The Macerich Company				55,640,089
			Shopping Centers - 7.1%
	413,800		Federal Realty Investment Trust				18,207,200
	880,300		New Plan Excel Realty Trust				22,007,500
			Storage - 0.4%
	76,900		Public Storage Inc., Series A				2,168,580
			Total Common Stocks (cost $323,224,179)				478,339,263
			PREFEFFED STOCKS - 43.9% (33.7% of Total Investments)
			Apartments - 10.4%
			Apartment Investment & Management Company:
	803,500		Series R, 10.000%				21,429,345
	380,000		Series U, 7.750%				9,199,800
	945,000		Home Properties NY Inc., Series F, 9.000%				26,271,000
	51,300		United Dominion Realty Trust, Series B, 8.600%				1,387,152
			Diversified - 10.9%
			Crescent Real Estate Equities Company:
	1,031,300		Series A (Convertible), 6.750%				21,873,873
	850,000		Series B, 9.500%				23,120,000
	150,000		Lexington Corporate Properties Trust, Series B, 8.050%				3,877,500
	497,623		PS Business Parks Inc., Series F, 8.750%				13,261,652
			Healthcare - 0.6%
	32,558		Nationwide Health Properties, Inc., 7.677%				3,329,056
			Hotel - 5.7%
	130,000		Ashford Hospitality Trust Inc., Series A, 8.550%				3,303,300
	360,000		Boykin Lodging Company, Series A, 10.500%				10,116,000
	592,000		LaSalle Hotel Properties, Series A, 10.250%				16,516,800
	82,000		WestCoast Hospitality Corporation, Series A, 9.500%				2,123,800
			Office - 6.3%
			Alexandria Real Estate Equities Inc:
	95,400		Series B, 9.100%				2,577,708
	160,000		Series C, 8.375%				4,205,008
	200,000		Corporate Office Properties Trust, Series G, 8.00%				5,100,000
	12,141		Highwoods Properties, Inc., Series A, 8.625%				13,218,514
	406,000		Maguire Properties, Inc., Series A, 7.625%				10,109,400
			Regional Malls - 2.2%
	113,000		Glimcher Realty Trust, Series F, 8.750%				2,993,370
			Mills Corporation:
	115,200		Series C, 9.000%				3,168,000
	213,000		Series E, 8.750%				5,751,000
	24,500		Taubman Centers Inc., Series A, 8.300%				630,140
			Shopping Centers - 7.5%
	160,000		Cedar Shopping Centers Inc., 8.875%				4,220,000
	480,000		Developers Diversified Realty Corporation, Series G, 8.000%				12,667,200
	808,000		Federal Realty Investment Trust, Series B, 8.500%				21,864,480
	125,000		Saul Centers Inc., Series A, 8.000%				3,331,250
			Storage - 0.3%
			Shurgard Storage Centers, Inc:
	24,600		Series C, 8.750%				653,130
	30,000		Series D, 8.700%				766,500
			Total Preferred Stocks (cost $226,151,927)				247,064,978
	Principal						Market
	Amount (000)		Description(1)				Value
			REPURCHASE AGREEMENTS (cost $8,659,358) - 1.5% (1.2 % of Total Investments)
			State Street Bank, 1.700%, dated 9/30/04, due 10/01/04, repurchase price
			$8,659,767, collateralized by $8,295,000 U.S. Treasury Notes, 4.750%,
$	8,659		due 5/15/14, value $8,834,175				$    8,659,358
			Total Investments (cost $558,035,464) - 130.4%				734,063,599
			Other Assets Less Liabilities - 0.2%				782,765
			Taxable Auctioned Preferred Shares, at Liquidation Value - (30.6)%				(172,000,000)
			Net Assets Applicable to Common Shares - 100%				$562,846,364

	Interest Rate Swap Transactions Outstanding at September 30, 2004:
						Unrealized
		Notional			Termination	Appreciation
		Amount	Fixed Rate	Floating Rate*	Date	(Depreciation)
		$43,000,000	4.0225%	1.6963%	2/07/05	$    (361,194)
		43,000,000	4.8000	1.6963	2/06/07	(1,860,289)
		43,000,000	5.1900	1.6963	2/06/09	(2,920,188)
						$(5,141,671)
*	Based on LIBOR (London Interbank Offered Rate)

(1)	All percentages in the Portfolio of Investments are based on net assets applicable to Common shares unless otherwise noted.
	Income Tax Information
	The following information is presented on an income tax basis. Differences between amounts for financial
	statement and federal income tax purposes are primarily due to timing differences in recording certain gains
	and losses on security transactions.
	At September 30, 2004, the cost of investments was $558,035,464.
	Gross unrealized appreciation and gross unrealized depreciation of investments at September 30, 2004,
	were as follows:
	Gross unrealized:
	Appreciation	$176,368,935
	Depreciation	(340,800)
	Net unrealized appreciation of investments	$176,028,135

Item 2. Controls and Procedures.

1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, (17 CFR 240.13a-15(b) or 240.15d-15(b)).
2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)         Nuveen Real Estate Income Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         11/29/04        

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*         /s/ Gifford R. Zimmerman--Chief Administrative Officer (Principal Executive Officer)        

Date         11/29/04        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (Principal Financial Officer)        

Date         11/29/04        

* Print the name and title of each signing officer under his or her signature.