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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 JPB1wVXEsSTup7Xk5xsScj9Ii6Nh+NtsN0dGQXFcsvtGA3m1B32Yu00B4wgKTzJq
 rZqMxr50GfI2Llo5BSp4fw==

<SEC-DOCUMENT>0001463377-09-000001.txt : 20090507
<SEC-HEADER>0001463377-09-000001.hdr.sgml : 20090507
<ACCEPTANCE-DATETIME>20090507165342
ACCESSION NUMBER:		0001463377-09-000001
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090507
DATE AS OF CHANGE:		20090507
EFFECTIVENESS DATE:		20090507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Target Real Estate Investment Fund, LLC
		CENTRAL INDEX KEY:			0001463377
		IRS NUMBER:				264469276
		STATE OF INCORPORATION:			ND
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-130764
		FILM NUMBER:		09806245

	BUSINESS ADDRESS:	
		STREET 1:		15 BROADWAY, SUITE 600
		CITY:			FARGO
		STATE:			ND
		ZIP:			58102
		BUSINESS PHONE:		701-361-7600

	MAIL ADDRESS:	
		STREET 1:		15 BROADWAY, SUITE 600
		CITY:			FARGO
		STATE:			ND
		ZIP:			58102
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001463377</cik>
        <entityName>Target Real Estate Investment Fund, LLC</entityName>
        <issuerAddress>
            <street1>15 BROADWAY, SUITE 600</street1>
            <street2></street2>
            <city>FARGO</city>
            <stateOrCountry>ND</stateOrCountry>
            <zipCode>58102</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>701-361-7600</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>ND</jurisdictionOfInc>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>K.</middleName>
                <lastName>Persson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>15 Broadway</street1>
                <street2>Suite 600</street2>
                <city>Fargo</city>
                <stateOrCountry>ND</stateOrCountry>
                <zipCode>58102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>D.</middleName>
                <lastName>Dalen</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>15 Broadway</street1>
                <street2>Suite 600</street2>
                <city>Fargo</city>
                <stateOrCountry>ND</stateOrCountry>
                <zipCode>58102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Residential</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$1 - $1,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-04-03</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>50000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>2000000</totalOfferingAmount>
            <totalAmountSold>425000</totalAmountSold>
            <totalRemaining>1575000</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>6</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Target Real Estate Investment Fund, LLC</issuerName>
                <signatureName>Thomas K. Persson</signatureName>
                <nameOfSigner>Thomas K. Persson</nameOfSigner>
                <signatureTitle>President</signatureTitle>
                <signatureDate>2009-05-07</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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