Aei Income & Growth Fund 24 LLC – ‘10KSB’ for 12/31/06

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Annual Report by a Small Business   —   Form 10-KSB
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Document/Exhibit                   Description                      Pages   Size 

 1: 10KSB       Annual Report by a Small Business                     45±   199K 
 2: EX-31.1     Certification -- Sarbanes-Oxley Act - Sect. 302        2±     9K 
 3: EX-31.2     Certification -- Sarbanes-Oxley Act - Sect. 302        2±     9K 
 4: EX-32       Certification -- Sarbanes-Oxley Act - Sect. 906        1      6K 

10KSB   —   Annual Report by a Small Business
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10KSB
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION                
Washington, D.C. 20549                

FORM 10-KSB               

Annual Report Under Section 13 or 15(d) of The Securities               
Exchange Act of 1934                

For the Fiscal Year Ended:  December 31, 2006               

Commission file number:  000-49653                

AEI INCOME & GROWTH FUND 24 LLC               
(Name of small business issuer in its charter)                

State of Delaware                41-1990952                     
(State or other jurisdiction of      (I.R.S. Employer                     
incorporation or organization)     Identification No.)                    

30 East 7th Street, Suite 1300, St. Paul, Minnesota 55101           
(Address of principal executive offices)                

(651) 227-7333            
(Issuer's telephone number)               

Securities registered under Section 12(b) of the Exchange Act:                  
          Name of each exchange on
Title of each class             which registered                      
None                          None                    

Securities registered under Section 12(g) of the Exchange Act:                  

Limited Liability Company Units           
(Title of class)                

Check  whether  the issuer (1) filed all reports required  to  be               
filed by Section 13 or 15(d) of the Exchange Act during the  past               
12  months  (or  for such shorter period that the registrant  was               
required to file such reports), and (2) has been subject to  such               
filing requirements for the past 90 days.          Yes [X] No                   

Check if disclosure of delinquent filers in response to Rule  405               
of  Regulation  S-B  is  not  contained  in  this  Form,  and  no               
disclosure  will  be  contained,  to  the  best  of  registrant's               
knowledge,   in   definitive  proxy  or  information   statements               
incorporated by reference in Part III of this Form 10-KSB or  and               
amendment to this Form 10-KSB.  [X]                                             

Indicate by check mark whether the registrant is a shell  company               
(as defined in Rule 12b-2 of the Exchange Act).    Yes     No [X]               

The  Issuer's revenues for the year ended December 31, 2006  were               
$958,651.                                                                       

As  of  February 28, 2007, there were 24,624.783 Units of limited               
membership interest outstanding and owned by nonaffiliates of the               
registrant,  which  Units had an aggregate  market  value  (based               
solely  on  the price at which they were sold since there  is  no               
ready market for such Units) of $24,624,783.                                    

DOCUMENTS INCORPORATED BY REFERENCE               
The registrant has not incorporated any documents by reference                
into this report.               

Transitional Small Business Disclosure Format:     Yes     No [X]               

PART I                

ITEM 1.   DESCRIPTION OF BUSINESS.                                              

AEI  Income  & Growth Fund 24 LLC (the "Company"  or  the       
"Registrant") is a limited liability company which was  organized               
pursuant  to  the laws of the State of Delaware on  November  21,               
2000.   The  registrant is comprised of AEI Fund Management  XXI,               
Inc.  (AFM),  as  the  Managing Member, Robert  P.  Johnson,  the               
President  and  sole  director of AFM, as  the  Special  Managing               
Member,  and  purchasers of LLC Units as  Limited  Members.   The               
Company  offered for sale up to $50,000,000 of limited membership               
interests  (the  "Units")  (50,000  Units  at  $1,000  per  Unit)               
pursuant to a registration statement effective May 18, 2001.  The               
Company  commenced  operations on October 31, 2001  when  minimum               
subscriptions of 1,500 LLC Units ($1,500,000) were accepted.  The               
offering  terminated  May  17, 2003 when  the  extended  offering               
period   expired.    The  Company  received   subscriptions   for               
24,831.283   LLC  Units.   Under  the  terms  of  the   Operating               
Agreement,  the Limited Members and Managing Members  contributed               
funds of $24,831,283 and $1,000, respectively.                                  

The  Company was organized to acquire existing and  newly       
constructed  commercial properties, to lease such  properties  to               
tenants under triple net leases, to hold such properties  and  to               
eventually sell such properties.  From subscription proceeds, the               
Company purchased ten properties, including partial interests  in               
three properties, at a total cost of $21,104,097.  The balance of               
the   subscription  proceeds  was  applied  to  organization  and               
syndication  costs and working capital reserves.  The  properties               
are  commercial, single tenant buildings leased under triple  net               
leases.                                                                         

The Company's properties were purchased with subscription       
proceeds without any indebtedness.  The Company will not  finance               
properties  in  the future to obtain proceeds  for  new  property               
acquisitions.  If it is required to do so, the Company may  incur               
short-term   indebtedness  to  finance   day-to-day   cash   flow               
requirements (including cash flow necessary to repurchase Units).               
The Company may borrow to finance the refurbishing of a property.               

The  Company will hold its properties until the  Managing       
Members  determine  that  the sale or other  disposition  of  the               
properties  is  advantageous in view of the Company's  investment               
objectives.  In deciding whether to sell properties, the Managing               
Members will consider factors such as potential appreciation, net               
cash  flow  and income tax considerations.  In addition,  certain               
tenants  may  be granted options to purchase properties  after  a               
specified  portion  of the lease term has elapsed.   The  Company               
expects to sell some or all of its properties prior to its  final               
liquidation  and  to  reinvest the proceeds from  such  sales  in               
additional  properties.  The Company reserves the right,  at  the               
discretion of the Managing Members, to either distribute proceeds               
from  the  sale of properties to the Members or to reinvest  such               
proceeds  in  additional  properties,  provided  that  sufficient               
proceeds  are distributed to the Limited Members to  pay  federal               
and state income taxes related to any taxable gain recognized  as               
a  result  of the sale.  It is anticipated that the Company  will               
commence liquidation through the sale of its remaining properties               
eight  to twelve years after completion of the acquisition phase,               
depending  upon  the then current real estate and money  markets,               
the  economic  climate  and the income tax  consequences  to  the               
Members.                                                                        

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)                                 

Leases                                                                          

Although there are variations in the specific terms of the        
leases,  the following is a summary of the general terms  of  the               
Company's  leases.  The properties are leased to various  tenants               
under  triple  net  leases,  which are  classified  as  operating               
leases.  Under a triple net lease, the tenant is responsible  for               
all  real  estate  taxes,  insurance,  maintenance,  repairs  and               
operating expenses for the property.  The primary lease terms are               
for  13  to 20 years.  The leases provide for base annual  rental               
payments,  payable  in  monthly installments,  and  contain  rent               
clauses  which entitle the Company to receive additional rent  in               
future years based on stated rent increases.                                    

The  leases provide the tenants with three to four  five-       
year renewal options subject to the same terms and conditions  as               
the  primary  term.  Certain tenants may be  granted  options  to               
purchase the property at a formula price, which would exceed  the               
original  cost.  The actual sale price of a property to a  tenant               
may or may not exceed original cost depending on market and other               
conditions.                                                                     

Property Activity                                                               

In December 2003, Austin Pancho's I, LLC (API), the tenant        
of  the Pancho's restaurant in Round Rock, Texas, reported to the               
Company  that it was experiencing financial problems as a  result               
of  lower  than  expected sales.  API did  not  make  any  rental               
payments  after November 2003.  Through November  20,  2005,  API               
owed  $378,779 for past due rent, which has not been accrued  due               
to  the  uncertainty of collection.  During 2005  and  2004,  the               
Company  incurred $168,213 of real estate tax expense related  to               
2003,  2004  and 2005 taxes and assessments due on the  property.               
Due  to the uncertainty of collection, the Company expensed these               
amounts,  which  are normally the responsibility of  the  tenant.               
The Company retained legal counsel to represent its interests  in               
this matter.  In May 2004, the Company terminated API's right  to               
possession  of  the  property.   The  Lease  Agreement  was   not               
terminated  and the Company pursued its legal options to  collect               
past  due amounts and any damages from API and the guarantors  of               
the  Lease.  The Company obtained a judgment against one  of  the               
guarantors.   Thus far, collection efforts have been unsuccessful               
and  there appear to be no immediate prospects for collection  on               
the judgment.                                                                   

In  September 2005, the Company entered into an agreement       
to  sell the property for $1,050,000 to an unrelated third party.               
In the third quarter of 2005, a charge to discontinued operations               
for  real estate impairment of $356,000 was recognized, which was               
the  difference between the book value at September 30,  2005  of               
$1,350,000 and the estimated net sale proceeds of $994,000.   The               
charge  was  recorded against the cost of the land and  building.               
On  November 21, 2005, the sale closed with the Company receiving               
net  sale proceeds of $995,082, which resulted in a net  gain  of               
$1,082.                                                                         

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)                                 

In February 2004, Garden Ridge, L.P. (GR), the tenant  of       
the  Garden  Ridge  retail store in Woodlands, Texas,  filed  for               
Chapter  11  bankruptcy reorganization.  In  press  releases,  GR               
reported rejecting the leases of 9 of 44 stores and that  it  was               
attempting to renegotiate lease terms for its other stores.   The               
Woodlands  store  was not identified as one of  the  nine  to  be               
closed.  GR entered into negotiations with the property owners of               
the  Woodlands  store to arrive at an agreement to modify  rental               
terms that would induce GR to assume the Lease for this property.               
GR  and  the  property  owners subsequently  agreed  to  a  Lease               
amendment  to  reduce the annual rent by 23%,  with  a  10%  rent               
increase  on  January 1, 2008.  The Company's share  of  the  new               
rental amount is $168,636.  The amendment provides for additional               
rental  payments  if  the  store's sales  exceed  certain  stated               
amounts.   The amendment also calls for the owners to waive  rent               
for   one  month  during  the  first  six  months  following  the               
bankruptcy  court's  approval of GR's assumption  of  the  Lease.               
With  the exception of February 2004, GR made all rental payments               
due under its original Lease.                                                   

On April 28, 2005, the bankruptcy court approved GR's Plan        
of  Reorganization.   As  part of the Plan,  the  Lease  for  the               
Woodlands store was assumed by GR and the Lease amendment  became               
effective.  Pursuant to the amendment, GR selected July  2005  as               
the one month to have rent waived.  In May 2005, GR paid the rent               
due  for  February  2004 and, pursuant to the amendment,  GR  was               
entitled  to  credit an equal amount against any  installment  of               
rent  due  in the future.  GR applied the credit for the February               
rent against rent due for August and September 2005.                            

On November 3, 2006, the Company sold its 23% interest in       
the Garden Ridge retail store in Woodlands, Texas to an unrelated               
third   party.   The  Company  received  net  sale  proceeds   of               
$2,006,876,  which resulted in a net gain of  $263,221.   At  the               
time  of sale, the cost and related accumulated depreciation  was               
$1,912,690 and $169,035, respectively.  Through the date of sale,               
GR complied with all Lease terms as amended.                                    

During  the first quarter of 2004, the Company  sold  its       
remaining  23.1844%  interest  in the  Children's  World  daycare               
center   in   Round  Lake  Beach,  Illinois,  in   two   separate               
transactions,  to unrelated third parties.  The Company  received               
total net sale proceeds of $509,345, which resulted in a net gain               
of $130,829.  The total cost and related accumulated depreciation               
of the interests sold was $405,299 and $26,783, respectively.                   

On April 30, 2004, the Company purchased a 55% interest in        
an  Applebee's restaurant in Sandusky, Ohio for $1,561,271.   The               
property is leased to Apple Ohio LLC under a Lease Agreement with               
a  primary  term of 20 years and initial annual rent of $118,867.               
The  remaining interest in the property was purchased by AEI  Net               
Lease  Income & Growth Fund XX Limited Partnership, an  affiliate               
of the Company.                                                                 

On March 18, 2005, the Company purchased a 14% interest in        
a   CarMax  auto  superstore  in  Lithia  Springs,  Georgia   for               
$1,320,336.   The property is leased to CarMax Auto  Superstores,               
Inc.  under  a Lease Agreement with a remaining primary  term  of               
13.4  years  and initial annual rent of $95,256.   The  remaining               
interests in the property were purchased by AEI Income  &  Growth               
Fund XXI Limited Partnership, AEI Income & Growth Fund 25 LLC and               
AEI  Private  Net  Lease  Millennium  Fund  Limited  Partnership,               
affiliates of the Company.                                                      

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)                                 

In May 2006, the Company entered into an agreement to sell        
the Champps Americana restaurant in Houston, Texas to the tenant.               
On  May 31, 2006, the sale closed with the Company receiving  net               
sale  proceeds  of $3,147,170, which resulted in a  net  gain  of               
$311,460.   At the time of sale, the cost and related accumulated               
depreciation was $3,106,301 and $270,591, respectively.                         

On June 1, 2006, the Company purchased a 45% interest  in       
an  Advance  Auto Parts store in Middletown, Ohio  for  $835,890.               
The  property is leased to Advance Stores Company, Inc.  under  a               
Lease  Agreement with a remaining primary term of 13.2 years  and               
initial  annual rent of $58,647.  The remaining interest  in  the               
property  was purchased by AEI Income & Growth Fund  26  LLC,  an               
affiliate of the Company.                                                       

On September 21, 2006, the Company purchased an Applebee's        
restaurant  in Fishers, Indiana for $3,002,553.  The property  is               
leased  to  Apple Indiana II LLC under a Lease Agreement  with  a               
primary term of 20 years and initial annual rent of $216,547.                   

On  September  26,  2006, Tia's Florida,  LLC  and  Tia's       
Maryland,  LLC,  the tenants of the Tia's Tex-Mex restaurants  in               
Tampa,  Florida  and  Salisbury  Maryland  filed  for  Chapter  7               
bankruptcy,  which  leads to liquidation and dissolution  of  the               
companies.   The  tenants  closed the restaurants.   The  primary               
guarantor  of  the  Leases, Julio's Investors LLC  (Julio's),  is               
continuing  to pay the rent and property expenses.   The  Company               
and  Julio's  are  discussing a potential  buyout  of  the  Lease               
guarantees  whereby the Company would release  Julio's  from  its               
guarantees  in exchange for a lump sum payment.  The  Company  is               
actively  marketing  the properties for sale.   The  Company  has               
evaluated  the Leases and property values and decided that  there               
is  no  impairment loss at this time.  At December 31, 2006,  the               
properties  were classified as Real Estate Held for Sale  with  a               
book value of $4,280,251.                                                       

Subsequent to December 31, 2006, the Company purchased  a       
50%  interest  in a Tractor Supply Company store in Grand  Forks,               
North  Dakota  for  approximately $1,383,000.   The  property  is               
leased  to Tractor Supply Company under a Lease Agreement with  a               
remaining primary term of 13.9 years and initial annual  rent  of               
$102,351.   The remaining interest in the property was  purchased               
by  AEI  Income  &  Growth  Fund  XXII  Limited  Partnership,  an               
affiliate of the Company.                                                       

Major Tenants                                                                   

During 2006, five tenants each contributed more than  ten       
percent of the Company's total rental revenue.  The major tenants               
in aggregate contributed 76% of total rental revenue in 2006.  It               
is  anticipated  that, based on minimum rental payments  required               
under  the  leases, each major tenant will continue to contribute               
more than ten percent of rental revenue in 2007 and future years.               
However,  the  tenant of the Tia's restaurants  will  likely  not               
continue to be major tenant as the Company is attempting to  sell               
the  properties.   Any  failure  of  these  major  tenants  could               
materially   affect   the   Company's   net   income   and   cash               
distributions.                                                                  

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)                                 

Competition                                                                     

The  Company  is  a minor factor in the  commercial  real       
estate  business.   There are numerous entities  engaged  in  the               
commercial  real  estate  business which have  greater  financial               
resources  than the Company.  At the time the Company  elects  to               
dispose  of its properties, it will be in competition with  other               
persons and entities to find buyers for its properties.                         

Employees                                                                       

The Company has no direct employees.  Management services       
are  performed for the Company by AEI Fund Management,  Inc.,  an               
affiliate of AFM.                                                               

ITEM 2.   DESCRIPTION OF PROPERTIES.                                            

Investment Objectives                                                           

The  Company's  investment  objectives  are  to  acquire      
existing or newly-developed commercial properties that offer  the               
potential  for  (i) regular cash distributions of  lease  income;               
(ii)  growth  in lease income through rent escalation provisions;               
(iii) preservation of capital through all-cash transactions; (iv)               
capital  growth through appreciation in the value of  properties;               
and  (v)  stable  property  performance through  long-term  lease               
contracts.  The Company does not have a policy, and there  is  no               
limitation, as to the amount or percentage of assets that may  be               
invested  in any one property.  However, to the extent  possible,               
the  Managing Members attempt to diversify the type and  location               
of the properties.                                                              

Description of Properties                                                       

The  Company's properties are commercial,  single  tenant       
buildings.  The properties were acquired on a debt-free basis and               
are  leased to various tenants under triple net leases, which are               
classified as operating leases.  The only exception is under  the               
Lease   for  the  Advance  Auto  Parts  store,  the  Company   is               
responsible  for  repairs  to the structural  components  of  the               
building,   except   for  the  roof,  which   is   the   tenant's               
responsibility.   The  Company  holds  an  undivided  fee  simple               
interest in the properties.                                                     

The  Company's  properties are  subject  to  the  general       
competitive conditions incident to the ownership of single tenant               
investment  real estate.  Since each property is leased  under  a               
long-term  lease, there is little competition until  the  Company               
decides to sell the property.  At this time, the Company will  be               
competing  with other real estate owners, on both a national  and               
local level, in attempting to find buyers for the properties.  In               
the  event  of  a tenant default, the Company would be  competing               
with  other  real estate owners, who have property vacancies,  to               
attract  a  new  tenant  to  lease the property.   The  Company's               
tenants  operate in industries that are very competitive and  can               
be  affected  by  factors such as changes in  regional  or  local               
economies, seasonality and changes in consumer preference.                      

ITEM 2.   DESCRIPTION OF PROPERTIES. (Continued)                                

The following table is a summary of the properties that           
the Company acquired and owned as of December 31, 2006.                         

                      Total Property              Annual    Annual
              Purchase   Acquisition                Lease     Rent Per
Property          Date        Costs        Tenant     Payment   Sq. Ft.   

Children's World                            KinderCare                          
Daycare Center                               Learning                           
Tinley Park, IL    5/22/02  $1,901,845    Centers, Inc.  $180,212  $19.94     

Jared Jewelry Store                                                             
Pittsburgh, PA                          Sterling Jewelers                     
(72.0%)            11/7/02  $2,620,893        Inc.       $240,285  $57.74     

Johnny Carino's                                Kona                             
Restaurant                                   Restaurant                         
Littleton, CO      4/10/03  $2,223,755      Group, Inc.  $230,272  $35.23     

Tia's Tex-Mex                                                                   
Restaurant                                Tia's Florida,                        
Tampa, FL         12/10/03  $2,563,839        LLC        $260,100  $45.31     

Tia's Tex-Mex                                                                   
Restaurant                                Tia's Maryland,                       
Salisbury, MD     12/10/03  $2,013,502        LLC        $204,000  $38.94     

Applebee's Restaurant                                                           
Sandusky, OH                                                                  
(55.0%)            4/30/04  $1,561,271   Apple Ohio LLC  $118,867  $43.28     

CarMax Auto Superstore                                                          
Lithia Springs, GA                         CarMax Auto                        
(14.0%)            3/18/05  $1,320,336  Superstores, Inc.$ 95,256  $35.36     

Advance Auto Parts Store                                                        
Middletown, OH                            Advance Stores                      
(45.0%)             6/1/06  $  835,890    Company, Inc.  $ 58,647  $18.94     

Applebee's Restaurant                      Apple Indiana                        
Fishers, IN        9/21/06  $3,002,553       II LLC      $216,547  $42.88     

ITEM 2.   DESCRIPTION OF PROPERTIES. (Continued)                                

The  properties  listed above with  a  partial  ownership       
percentage  are  owned  with affiliates  of  the  Company  and/or               
unrelated  third parties.  The remaining interest  in  the  Jared               
Jewelry  store is owned by AEI Private Net Lease Millennium  Fund               
Limited  Partnership.  The remaining interest in  the  Applebee's               
restaurant in Sandusky, Ohio is owned by AEI Net Lease  Income  &               
Growth  Fund XX Limited Partnership.  The remaining interests  in               
the  CarMax auto superstore are owned by AEI Income & Growth Fund               
XXI  Limited Partnership, AEI Income & Growth Fund 25 LLC and AEI               
Private  Net  Lease  Millennium Fund  Limited  Partnership.   The               
remaining  interest in the Advance Auto Parts store is  owned  by               
AEI Income & Growth Fund 26 LLC.                                                

The  Company accounts for properties owned as tenants-in-       
common  with  affiliated  Partnerships  and/or  unrelated   third               
parties  using  the  proportionate  consolidation  method.   Each               
tenant-in-common  owns  a  separate, undivided  interest  in  the               
properties.   Any  tenant-in-common that holds more  than  a  50%               
interest  does  not control decisions over the  other  tenant-in-               
common  interests.   The financial statements reflect  only  this               
Company's percentage share of the properties' land, building  and               
equipment, liabilities, revenues and expenses.                                  

At  the  time the properties were acquired, the remaining       
primary  lease  terms  varied from 13 to 20  years.   The  leases               
provide  the tenants with three to four five-year renewal options               
subject to the same terms and conditions as the primary term.                   

Pursuant to the lease agreements, the tenants are required        
to provide proof of adequate insurance coverage on the properties               
they  occupy.   The Managing Members believe the  properties  are               
adequately covered by insurance and consider the properties to be               
well-maintained and sufficient for the Company's operations.                    

For tax purposes, the Company's properties are depreciated        
under the Modified Accelerated Cost Recovery System (MACRS).  The               
largest depreciable component of a property is the building which               
is  depreciated, using the straight-line method, over  39  years.               
The  remaining depreciable components of a property are  personal               
property  and land improvements which are depreciated,  using  an               
accelerated method, over 5 and 15 years, respectively.  Since the               
Company  has  tax-exempt Members, the Company is subject  to  the               
rules  of  Section 168(h)(6) of the Internal Revenue  Code  which               
requires  a  percentage of the properties' depreciable components               
to  be  depreciated  over  longer lives using  the  straight-line               
method.  In general, the federal tax basis of the properties  for               
tax  depreciation purposes will be the same as the basis for book               
depreciation purposes.                                                          

At  December 31, 2006, all properties listed  above  were       
100% occupied.                                                                  

ITEM 3.   LEGAL PROCEEDINGS.                                                    

None.                                                             

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.                  

None.                                                             

PART II               

ITEM 5.   MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS                 
AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES.   

(a)  As  of December 31, 2006, there were 700 holders  of       
record of the registrant's LLC Units.  There is no other class of               
security  outstanding or authorized.  The registrant's Units  are               
not  a  traded security in any market.  During the period covered               
by  this  report, the Company did not sell any equity  securities               
that are not registered under the Securities Act of 1933.                       

Cash distributions of $44,413 and $39,414 were made to the        
Managing Members and $1,489,875 and $1,489,871 were made  to  the               
Limited   Members   in   2006   and  2005,   respectively.    The               
distributions  were made on a quarterly basis and  represent  Net               
Cash   Flow,  as  defined,  except  as  discussed  below.   These               
distributions  should  not be compared  with  dividends  paid  on               
capital stock by corporations.                                                  

As  part  of the Limited Members' distributions discussed       
above,  the Company distributed $80,000 and $320,000 of  proceeds               
from property sales in 2006 and 2005, respectively.  In 2006  and               
2005,  the  distribution  of sale proceeds  reduced  the  Limited               
Members'  Adjusted Capital Contributions by $43,707 and $164,814,               
respectively.                                                                   

(b) Not applicable.                                               

(c)  Pursuant to Section 7.7 of the Operating  Agreement,       
each Limited Member has the right to present Units to the Company               
for  purchase by submitting notice to the Managing Member  during               
January or July of each year.  The purchase price of the Units is               
equal to 80% of the net asset value of the Units, as of the first               
business  day  of January or July of each year, as determined  by               
the  Managing  Member in accordance with the  provisions  of  the               
Operating  Agreement.   Units  tendered  to  the  Company  during               
January  and  July  are redeemed on April 1st  and  October  1st,               
respectively, of each year subject to the following  limitations.               
The  Company  will not be obligated to purchase in any  year  any               
number of Units that, when aggregated with all other transfers of               
Units that have occurred since the beginning of the same calendar               
year  (excluding Permitted Transfers as defined in the  Operating               
Agreement),  would  exceed  2%  of  the  total  number  of  Units               
outstanding  on  January 1 of such year.  In no event  shall  the               
Company be obligated to purchase Units if, in the sole discretion               
of the Managing Member, such purchase would impair the capital or               
operation of the Company.                                                       

ITEM 5.   MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS                 
AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES.     

Small Business Issuer Purchases of Equity Securities                
                                                      Maximum Number
                           Total    Number of Units      of Units that May
           Total Number  Average   Purchased as Part of Yet Be Purchased
           of Units    Price Paid Publicly Announced   Under the Plans
Period      Purchased     per Unit  Plans or Programs    or Programs      

10/1/06 to 10/31/06   44       $768.64      206.50(1)           (2)             

11/1/06 to 11/30/06   --            --            --            --              

12/1/06 to 12/31/06   --            --            --            --              

(1)  The Company's repurchase plan is mandated by the Operating             
Agreement as included in the prospectus related to the original   
offering of the Units.                                            
(2)  The  Operating  Agreement contains annual limitations  on              
repurchases  described in the paragraph  above  and  has  no      
expiration date.                                                  

Other Information                                                               

The  Company is required, pursuant to NASD Rule 2810,  to       
disclose  in each annual report distributed to Limited Members  a               
per  Unit  estimated value, the method by which it was  developed               
and the date of the data used to develop the estimated value.  At               
December 31, 2006, the Company's Units were valued at $956.  This               
value  was the aggregate estimated value of the Company's  assets               
less  the  Company's liabilities, and less the value attributable               
to the interest of the Managing Members, divided by the number of               
Units   outstanding.    The  Company's  cash,   receivables   and               
liabilities  were  valued at face value.  Each of  the  Company's               
properties  were  valued  by  dividing  their  rental  income  on               
December  1,  2006 by a capitalization rate the  Managing  Member               
believed  to be representative of the retail market for the  sale               
of  each  property.   No  independent  property  appraisals  were               
obtained.   The valuations performed by the Managing Member  were               
estimates  only, and were based on a number of assumptions  which               
may  not  be accurate or complete.  In addition, property  values               
are  subject  to change and could decline after the date  of  the               
valuations.  Accordingly, this estimated value, prepared  by  the               
Managing  Member, should not be viewed as the amount at  which  a               
Limited Member may be able to sell his units, or the fair  market               
value of the Company properties, nor does it represent the amount               
of  net  proceeds Limited Members would receive  if  the  Company               
properties   were  sold  and  the  proceeds  distributed   in   a               
liquidation of the Company.                                                     

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.                                 

The Management's Discussion and Analysis contains various       
"forward  looking  statements"  within  the  meaning  of  federal               
securities  laws  which  represent management's  expectations  or               
beliefs  concerning future events, including statements regarding               
anticipated  application of cash, expected  returns  from  rental               
income,  growth  in  revenue, the sufficiency  of  cash  to  meet               
operating  expenses, rates of distribution,  and  other  matters.               
These,  and other forward looking statements made by the Company,               
must be evaluated in the context of a number of factors that  may               
affect   the   Company's  financial  condition  and  results   of               
operations, including the following:                                            

Market and economic conditions which affect the value                   
of the properties the Company owns and the cash from                    
rental income such properties generate;                                 

the federal income tax consequences of rental income,                   
deductions, gain on sales and other items and the                       
affects of these consequences for Members;                              

resolution by the Managing Members of conflicts with                    
which they may be confronted;                                           

the success of the Managing Members of locating                         
properties with favorable risk return characteristics;                  

the effect of tenant defaults; and                                      

the condition of the industries in which the tenants of                 
properties owned by the Company operate.                                

The Application of Critical Accounting Policies                                 

The  preparation  of  the Company's financial  statements       
requires  management to make estimates and assumptions  that  may               
affect the reported amounts of assets, liabilities, revenues  and               
expenses,  and  related  disclosure  of  contingent  assets   and               
liabilities. Management evaluates these estimates on  an  ongoing               
basis,  including  those related to the carrying  value  of  real               
estate  and  the  allocation  by AEI  Fund  Management,  Inc.  of               
expenses to the Company as opposed to other funds they manage.                  

The Company purchases properties and records them in  the       
financial statements at the lower of cost or estimated realizable               
value.   The  Company  initially records the properties  at  cost               
(including  capitalized acquisition expenses).   The  Company  is               
required   to  periodically  evaluate  the  carrying   value   of               
properties  to  determine  whether  their  realizable  value  has               
declined.   For  properties the Company will  hold  and  operate,               
management   determines  whether  impairment  has   occurred   by               
comparing the property's probability-weighted cash flows  to  its               
current carrying value.  For properties held for sale, management               
determines  whether  impairment has  occurred  by  comparing  the               
property's estimated fair value less cost to sell to its  current               
carrying  value.   If  the carrying value  is  greater  than  the               
realizable  value, an impairment loss is recorded to  reduce  the               
carrying value of the property to its realizable value.  A change               
in  these assumptions or analysis could cause material changes in               
the carrying value of the properties.                                           

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)                    

AEI  Fund Management, Inc. allocates expenses to each  of       
the  funds  they manage primarily on the basis of the  number  of               
hours  devoted  by their employees to each fund's affairs.   They               
also  allocate  expenses at the end of each month  that  are  not               
directly related to a fund's operations based upon the number  of               
investors  in the fund and the fund's capitalization relative  to               
other  funds they manage.  The Company reimburses these  expenses               
subject  to  detailed  limitations  contained  in  the  Operating               
Agreement.                                                                      

Management  of the Company has discussed the  development       
and   selection  of  the  above  accounting  estimates  and   the               
management  discussion  and analysis disclosures  regarding  them               
with the managing member of the Company.                                        

Results of Operations                                                           

For  the  years  ended December 31, 2006  and  2005,  the       
Company  recognized rental income from continuing  operations  of               
$958,651  and  $841,630, respectively.  In  2006,  rental  income               
increased  mainly  due  to additional rent  received  from  three               
property acquisitions in 2005 and 2006.                                         

For  the  years  ended December 31, 2006  and  2005,  the       
Company  incurred  LLC  administration expenses  from  affiliated               
parties   of   $216,672   and  $244,668,   respectively.    These               
administration  expenses  include  costs  associated   with   the               
management of the properties, processing distributions, reporting               
requirements  and correspondence to the Limited Members.   During               
the  same  periods,  the Company incurred LLC administration  and               
property  management expenses from unrelated parties  of  $26,714               
and  $30,449,  respectively.   These  expenses  represent  direct               
payments  to  third  parties for legal and  filing  fees,  direct               
administrative costs, outside audit costs, taxes,  insurance  and               
other property costs.                                                           

For  the  years  ended December 31, 2006  and  2005,  the       
Company  recognized  interest  income  of  $93,743  and  $17,334,               
respectively.  In 2006, interest income increased mainly  due  to               
the  Company having more money invested in a money market account               
due to property sales.                                                          

In  accordance  with  Statement of  Financial  Accounting       
Standards  No. 144, Accounting for the Impairment or Disposal  of               
Long-Lived  Assets,  upon  complete disposal  of  a  property  or               
classification of a property as Real Estate Held  for  Sale,  the               
Company  includes the operating results and sale of the  property               
in   discontinued   operations.    In   addition,   the   Company               
reclassifies the prior periods operating results and any  partial               
sales  of the property to discontinued operations.  For the  year               
ended  December  31,  2006, the Company  recognized  income  from               
discontinued operations of $1,136,141, representing rental income               
less  property management expenses and depreciation  of  $561,460               
and  gain  on disposal of real estate of $574,681.  For the  year               
ended  December  31,  2005, the Company  recognized  income  from               
discontinued  operations of $155,521, representing rental  income               
less  property management expenses and depreciation  of  $510,439               
and  gain  on  disposal  of real estate  of  $1,082,  which  were               
partially offset by a real estate impairment loss of $356,000.                  

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)                    

In December 2003, Austin Pancho's I, LLC (API), the tenant        
of  the Pancho's restaurant in Round Rock, Texas, reported to the               
Company  that it was experiencing financial problems as a  result               
of  lower  than  expected sales.  API did  not  make  any  rental               
payments  after November 2003.  Through November  20,  2005,  API               
owed  $378,779 for past due rent, which has not been accrued  due               
to  the  uncertainty of collection.  During 2005  and  2004,  the               
Company  incurred $168,213 of real estate tax expense related  to               
2003,  2004  and 2005 taxes and assessments due on the  property.               
Due  to the uncertainty of collection, the Company expensed these               
amounts,  which  are normally the responsibility of  the  tenant.               
The Company retained legal counsel to represent its interests  in               
this matter.  In May 2004, the Company terminated API's right  to               
possession  of  the  property.   The  Lease  Agreement  was   not               
terminated  and the Company pursued its legal options to  collect               
past  due amounts and any damages from API and the guarantors  of               
the  Lease.  The Company obtained a judgment against one  of  the               
guarantors.   Thus far, collection efforts have been unsuccessful               
and  there appear to be no immediate prospects for collection  on               
the judgment.                                                                   

In  September 2005, the Company entered into an agreement       
to  sell the property for $1,050,000 to an unrelated third party.               
In the third quarter of 2005, a charge to discontinued operations               
for  real estate impairment of $356,000 was recognized, which was               
the  difference between the book value at September 30,  2005  of               
$1,350,000 and the estimated net sale proceeds of $994,000.   The               
charge  was  recorded against the cost of the land and  building.               
On  November 21, 2005, the sale closed with the Company receiving               
net  sale proceeds of $995,082, which resulted in a net  gain  of               
$1,082.                                                                         

In February 2004, Garden Ridge, L.P. (GR), the tenant  of       
the  Garden  Ridge  retail store in Woodlands, Texas,  filed  for               
Chapter  11  bankruptcy reorganization.  In  press  releases,  GR               
reported rejecting the leases of 9 of 44 stores and that  it  was               
attempting to renegotiate lease terms for its other stores.   The               
Woodlands  store  was not identified as one of  the  nine  to  be               
closed.  GR entered into negotiations with the property owners of               
the  Woodlands  store to arrive at an agreement to modify  rental               
terms that would induce GR to assume the Lease for this property.               
GR  and  the  property  owners subsequently  agreed  to  a  Lease               
amendment  to  reduce the annual rent by 23%,  with  a  10%  rent               
increase  on  January 1, 2008.  The Company's share  of  the  new               
rental amount is $168,636.  The amendment provides for additional               
rental  payments  if  the  store's sales  exceed  certain  stated               
amounts.   The amendment also calls for the owners to waive  rent               
for   one  month  during  the  first  six  months  following  the               
bankruptcy  court's  approval of GR's assumption  of  the  Lease.               
With  the exception of February 2004, GR made all rental payments               
due under its original Lease.                                                   

On April 28, 2005, the bankruptcy court approved GR's Plan        
of  Reorganization.   As  part of the Plan,  the  Lease  for  the               
Woodlands store was assumed by GR and the Lease amendment  became               
effective.  Pursuant to the amendment, GR selected July  2005  as               
the one month to have rent waived.  In May 2005, GR paid the rent               
due  for  February  2004 and, pursuant to the amendment,  GR  was               
entitled  to  credit an equal amount against any  installment  of               
rent  due  in the future.  GR applied the credit for the February               
rent against rent due for August and September 2005.                            

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)                    

On November 3, 2006, the Company sold its 23% interest in       
the Garden Ridge retail store in Woodlands, Texas to an unrelated               
third   party.   The  Company  received  net  sale  proceeds   of               
$2,006,876,  which resulted in a net gain of  $263,221.   At  the               
time  of sale, the cost and related accumulated depreciation  was               
$1,912,690 and $169,035, respectively.  Through the date of sale,               
GR complied with all Lease terms as amended.                                    

In  May,  2006, the Company entered into an agreement  to       
sell  the Champps Americana restaurant in Houston, Texas  to  the               
tenant.   On  May  31,  2006, the sale closed  with  the  Company               
receiving  net sale proceeds of $3,147,170, which resulted  in  a               
net  gain of $311,460.  At the time of sale, the cost and related               
accumulated    depreciation   was   $3,106,301   and    $270,591,               
respectively.                                                                   

On  September  26,  2006, Tia's Florida,  LLC  and  Tia's       
Maryland,  LLC,  the tenants of the Tia's Tex-Mex restaurants  in               
Tampa,  Florida  and  Salisbury  Maryland  filed  for  Chapter  7               
bankruptcy,  which  leads to liquidation and dissolution  of  the               
companies.   The  tenants  closed the restaurants.   The  primary               
guarantor  of  the  Leases, Julio's Investors LLC  (Julio's),  is               
continuing  to pay the rent and property expenses.   The  Company               
and  Julio's  are  discussing a potential  buyout  of  the  Lease               
guarantees  whereby the Company would release  Julio's  from  its               
guarantees  in exchange for a lump sum payment.  The  Company  is               
actively  marketing  the properties for sale.   The  Company  has               
evaluated  the Leases and property values and decided that  there               
is  no  impairment loss at this time.  At December 31, 2006,  the               
properties  were classified as Real Estate Held for Sale  with  a               
book value of $4,280,251.                                                       

Inflation  has  had  a  minimal  effect  on  income  from       
operations.   Leases  may contain rent increases,  based  on  the               
increase  in  the  Consumer Price Index over a specified  period,               
which  will result in an increase in rental income over the  term               
of  the  leases.   In addition, leases may contain  rent  clauses               
which  entitle the Company to receive additional rent  in  future               
years if gross receipts for the property exceed certain specified               
amounts.   Increases  in sales volumes of  the  tenants,  due  to               
inflation  and  real sales growth, may result in an  increase  in               
rental  income over the term of the leases.  Inflation  also  may               
cause the real estate to appreciate in value.  However, inflation               
and  changing prices may have an adverse impact on the  operating               
margins  of  the  properties' tenants, which could  impair  their               
ability  to  pay rent and subsequently reduce the Net  Cash  Flow               
available for distributions.                                                    

Liquidity and Capital Resources                                                 

During  the  year ended December 31, 2006, the  Company's       
cash  balances increased $1,235,981 as a result of cash generated               
from  the  sale of property, which was partially offset  by  cash               
used  to  purchase property and distributions paid to the Members               
in  excess  of cash generated from operating activities.   During               
the  year  ended December 31, 2005, the Company's  cash  balances               
decreased $591,467 as a result of cash used to purchase  property               
and distributions paid to the Members in excess of cash generated               
from  operating activities, which were partially offset  by  cash               
generated from the sale of property.                                            

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)                    

Net  cash provided by operating activities increased from       
$1,407,079  in  2005 to $1,488,080 in 2006  as  a  result  of  an               
increase  in  total  rental and interest income  in  2006  and  a               
decrease  in LLC administration and property management  expenses               
in 2006, which were partially offset by net timing differences in               
the  collection of payments from the lessees and the  payment  of               
expenses.                                                                       

The  major  components of the Company's  cash  flow  from       
investing activities are investments in real estate and  proceeds               
from  the  sale of real estate.  During the years ended  December               
31,  2006, the Company generated cash flow from the sale of  real               
estate of $5,154,046 and $995,082, respectively.  During the same               
periods,   the   Company  expended  $3,838,443  and   $1,320,336,               
respectively,   to  invest  in  real  properties  (inclusive   of               
acquisition  expenses) as the Company reinvested  cash  generated               
from property sales.                                                            

On March 18, 2005, the Company purchased a 14% interest in        
a   CarMax  auto  superstore  in  Lithia  Springs,  Georgia   for               
$1,320,336.   The property is leased to CarMax Auto  Superstores,               
Inc.  under  a Lease Agreement with a remaining primary  term  of               
13.4  years  and initial annual rent of $95,256.   The  remaining               
interests in the property were purchased by AEI Income  &  Growth               
Fund XXI Limited Partnership, AEI Income & Growth Fund 25 LLC and               
AEI  Private  Net  Lease  Millennium  Fund  Limited  Partnership,               
affiliates of the Company.                                                      

On June 1, 2006, the Company purchased a 45% interest  in       
an  Advance  Auto Parts store in Middletown, Ohio  for  $835,890.               
The  property is leased to Advance Stores Company, Inc.  under  a               
Lease  Agreement with a remaining primary term of 13.2 years  and               
initial  annual rent of $58,647.  The remaining interest  in  the               
property  was purchased by AEI Income & Growth Fund  26  LLC,  an               
affiliate of the Company.                                                       

On September 21, 2006, the Company purchased an Applebee's        
restaurant  in Fishers, Indiana for $3,002,553.  The property  is               
leased  to  Apple Indiana II LLC under a Lease Agreement  with  a               
primary term of 20 years and initial annual rent of $216,547.                   

Subsequent to December 31, 2006, the Company purchased  a       
50%  interest  in a Tractor Supply Company store in Grand  Forks,               
North  Dakota  for  approximately $1,383,000.   The  property  is               
leased  to Tractor Supply Company under a Lease Agreement with  a               
remaining primary term of 13.9 years and initial annual  rent  of               
$102,351.   The remaining interest in the property was  purchased               
by  AEI  Income  &  Growth  Fund  XXII  Limited  Partnership,  an               
affiliate of the Company.                                                       

The  Company's  primary  use of  cash  flow,  other  than       
investment   in  real  estate,  is  distribution  and  redemption               
payments  to Members.  The Company declares its regular quarterly               
distributions  before  the  end of  each  quarter  and  pays  the               
distribution in the first ten days after the end of each quarter.               
The  Company attempts to maintain a stable distribution rate from               
quarter  to  quarter.  Redemption payments are paid to  redeeming               
Members on a semi-annual basis.                                                 

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)                    

For  the  years  ended December 31, 2006  and  2005,  the       
Company  declared  distributions of  $1,534,288  and  $1,529,285,               
respectively.  Pursuant to the Operating Agreement, distributions               
of Net Cash Flow were allocated 97% to the Limited Members and 3%               
to  the Managing Members.  Distributions of Net Proceeds of  Sale               
were  allocated 99% to the Limited Members and 1% to the Managing               
Members.    The   Limited  Members  received   distributions   of               
$1,489,875  and  $1,489,871  and the  Managing  Members  received               
distributions   of   $44,413  and  $39,414   for   the   periods,               
respectively.                                                                   

During 2006 and 2005, the Company distributed $80,808 and       
$323,232 of net sale proceeds to the Limited and Managing Members               
as part of their quarterly distributions, which represented $3.25               
and  $12.95  per LLC Unit, respectively.  The Company anticipates               
the  remaining  net sale proceeds will either  be  reinvested  in               
additional property or distributed to the Members in the future.                

The  Company may acquire Units from Limited  Members  who       
have  tendered  their Units to the Company.  Such  Units  may  be               
acquired  at  a discount.  The Company will not be  obligated  to               
purchase  in  any year any number of Units that, when  aggregated               
with  all  other transfers of Units that have occurred since  the               
beginning   of  the  same  calendar  year  (excluding   Permitted               
Transfers as defined in the Operating Agreement), would exceed 2%               
of  the  total number of Units outstanding on January 1  of  such               
year.   In  no  event shall the Company be obligated to  purchase               
Units  if,  in  the sole discretion of the Managing Member,  such               
purchase would impair the capital or operation of the Company.                  

During 2006, three Limited Members redeemed a total of 44       
Units  for  $33,820  in accordance with the Operating  Agreement.               
During 2005, two Limited Members redeemed a total of 162.5  Units               
for  $137,641.  The Company acquired these Units using  Net  Cash               
Flow  from  operations.  The redemptions increase  the  remaining               
Limited Member's ownership interest in the Company.  As a  result               
of  these  redemption  payments and  pursuant  to  the  Operating               
Agreement, the Managing Members received distributions of  $1,046               
and $4,257 in 2006 and 2005, respectively.                                      

The continuing rent payments from the properties, together        
with  cash  generated from property sales, should be adequate  to               
fund  continuing distributions and meet other Company obligations               
on both a short-term and long-term basis.                                       

ITEM 7.   FINANCIAL STATEMENTS.                                                 

See accompanying index to financial statements.                   

AEI INCOME & GROWTH FUND 24 LLC               

INDEX TO FINANCIAL STATEMENTS               

Report of Independent Registered Public Accounting Firm                         

Balance Sheet as of December 31, 2006 and 2005                                  

Statements for the Years Ended December 31, 2006 and 2005:                      

Income                                                                

Cash Flows                                                            

Changes in Members' Equity                                            

Notes to Financial Statements                                                   

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM               

To the Members:                                                                 
AEI Income & Growth Fund 24 LLC                                                 
St. Paul, Minnesota                                                             

We have audited the accompanying balance sheet of AEI Income          
& Growth Fund 24 LLC (a Delaware limited liability company) as of               
December 31, 2006 and 2005, and the related statements of income,               
cash  flows  and  changes in members' equity for the  years  then               
ended.  These financial statements are the responsibility of  the               
Company's  management.   Our  responsibility  is  to  express  an               
opinion on these financial statements based on our audits.                      

We conducted our audits in accordance with the standards of         
the  Public  Company Accounting Oversight Board (United  States).               
Those  standards require that we plan and perform  the  audit  to               
obtain   reasonable   assurance  about  whether   the   financial               
statements are free of material misstatement.  An audit  includes               
examining,  on a test basis, evidence supporting the amounts  and               
disclosures in the financial statements.  An audit also  includes               
assessing   the   accounting  principles  used  and   significant               
estimates  made by management, as well as evaluating the  overall               
financial  statement presentation.  We believe  that  our  audits               
provide a reasonable basis for our opinion.                                     

In  our opinion, the financial statements referred to above         
present  fairly, in all material respects, the financial position               
of  AEI  Income & Growth Fund 24 LLC as of December 31, 2006  and               
2005,  and  the results of its operations and its cash flows  for               
the  years then ended, in conformity with U.S. generally accepted               
accounting principles.                                                          

         /s/Boulay, Heutmaker, Zibell & Co. P.L.L.P.
          Certified Public Accountants

Minneapolis, Minnesota                                                          
March 23, 2007                                                                  

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AEI INCOME & GROWTH FUND 24 LLC               
BALANCE SHEET               
DECEMBER 31               

ASSETS                

                                          2006          2005
CURRENT ASSETS:                                                                 
Cash and Cash Equivalents                     $ 2,542,078   $ 1,306,097     

INVESTMENTS IN REAL ESTATE:                                                     
Land                                            4,884,230     7,336,445     
Buildings and Equipment                         8,582,313    11,887,987     
Accumulated Depreciation                         (948,896)   (1,254,362)    
                                           -----------   -----------
                                          12,517,647    17,970,070
Real Estate Held for Sale                       4,280,251             0     
                                           -----------   -----------
Net Investments in Real Estate             16,797,898    17,970,070 
                                           -----------   -----------
    Total  Assets                        $19,339,976   $19,276,167
                                           ===========   ===========

LIABILITIES AND MEMBERS' EQUITY   

CURRENT LIABILITIES:                                                            
Payable to AEI Fund Management, Inc.          $    48,337   $    71,660     
Distributions Payable                             378,290       376,838     
Unearned Rent                                      15,017        15,017     
                                           -----------   -----------
Total Current Liabilities                     441,644       463,515 
                                           -----------   -----------
MEMBERS' EQUITY (DEFICIT):                                                      
Managing Members' Equity                            5,409       (20,612)    
Limited Members' Equity, $1,000 per Unit;                                   
50,000 Units authorized; 24,831 Units issued;                             
24,625 and 24,669 Units outstanding in                                    
2006 and 2005, respectively                   18,892,923    18,833,264    
                                           -----------   -----------
Total Members' Equity                      18,898,332    18,812,652 
                                           -----------   -----------
 Total Liabilities and Members' Equity   $19,339,976   $19,276,167
                                           ===========   ===========

The accompanying Notes to Financial Statements are an integral                
part of this statement.               
</PAGE>                                                                         

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AEI INCOME & GROWTH FUND 24 LLC               
STATEMENT OF INCOME               
FOR THE YEARS ENDED DECEMBER 31               

                                           2006         2005

RENTAL INCOME                                   $   958,651   $   841,630       

EXPENSES:                                                                       
LLC Administration - Affiliates                   216,672       244,668     
LLC Administration and Property                                             
Management - Unrelated Parties                  26,714        30,449  
Depreciation                                      290,315       245,730     
                                           -----------   -----------
Total Expenses                                533,701       520,847 
                                           -----------   -----------

OPERATING INCOME                                    424,950       320,783       

OTHER INCOME:                                                                   
Interest Income                                    93,743        17,334     
                                           -----------   -----------

INCOME FROM CONTINUING OPERATIONS                   518,693       338,117       

Income from Discontinued Operations               1,136,141       155,521       
                                           -----------   -----------
NET INCOME                                      $ 1,654,834   $   493,638       
                                           ===========   ===========
NET INCOME ALLOCATED:                                                           
Managing Members                              $    71,480   $    21,908     
Limited Members                                 1,583,354       471,730     
                                           -----------   -----------
                                         $ 1,654,834   $   493,638
                                           ===========   ===========
INCOME PER LLC UNIT:                                                            
Continuing Operations                         $     20.40   $     13.27     
Discontinued Operations                             43.81          5.82     
                                           -----------   -----------
Total                                    $     64.21   $     19.09
                                           ===========   ===========
Weighted  Average  Units Outstanding                 24,658        24,711       
                                           ===========   ===========

The accompanying Notes to Financial Statements are an integral                
part of this statement.               
</PAGE>                                                                         

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AEI INCOME & GROWTH FUND 24 LLC               
STATEMENT OF CASH FLOWS               
FOR THE YEARS ENDED DECEMBER 31               

                                            2006          2005

CASH FLOWS FROM OPERATING ACTIVITIES:                                           
Net Income                                     $ 1,654,834   $   493,638    

Adjustments To Reconcile Net Income                                         
To Net Cash Provided By Operating Activities:                               
Depreciation                                    431,250       488,447 
Real Estate Impairment                                0       356,000 
Gain on Sale of Real Estate                    (574,681)       (1,082)
Decrease in Receivables                               0        42,602 
Increase (Decrease) in Payable to                                     
  AEI Fund Management, Inc.                    (23,323)       32,518
Decrease in Unearned Rent                             0        (5,044)
                                             -----------   -----------
 Total Adjustments                            (166,754)      913,441
                                             -----------   -----------
Net Cash Provided By                                              
     Operating Activities                    1,488,080     1,407,079
                                             -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES:                                           
Investments in Real Estate                      (3,838,443)   (1,320,336)   
Proceeds from Sale of Real Estate                5,154,046       995,082    
                                             -----------   -----------
Net Cash Provided By (Used For)                                   
      Investing Activities                    1,315,603      (325,254)
                                             -----------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:                                           
Increase (Decrease) in Distributions Payable        1,452        (2,109)  
Distributions to Members                       (1,534,288)   (1,529,285)  
Redemption Payments                               (34,866)     (141,898)  
                                             -----------   -----------
Net Cash Used For                                                 
    Financing Activities                     (1,567,702)   (1,673,292)
                                             -----------   -----------
NET INCREASE (DECREASE) IN CASH                                                 
AND CASH EQUIVALENTS                            1,235,981      (591,467)  

CASH AND CASH EQUIVALENTS, beginning of period     1,306,097     1,897,564      
                                             -----------   -----------
CASH AND CASH EQUIVALENTS, end of period         $ 2,542,078   $ 1,306,097      
                                             ===========   ===========

The accompanying Notes to Financial Statements are an integral                
part of this statement.               
</PAGE>                                                                         

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AEI INCOME & GROWTH FUND 24 LLC               
STATEMENT OF CHANGES IN MEMBERS' EQUITY               
FOR THE YEARS ENDED DECEMBER 31               

                                                             Limited
                                                              Member
                      Managing    Limited                    Units
                         Members     Members     Total       Outstanding

BALANCE, December 31, 2004  $  1,151  $19,989,046  $19,990,197    24,831.28     

Distributions              (39,414)  (1,489,871)  (1,529,285)               

Redemption Payments         (4,257)    (137,641)    (141,898)     (162.50)  

Net Income                  21,908      471,730      493,638                
                         --------  -----------  -----------   ----------
BALANCE, December 31, 2005   (20,612)  18,833,264   18,812,652    24,668.78     

Distributions              (44,413)  (1,489,875)  (1,534,288)               

Redemption Payments         (1,046)     (33,820)     (34,866)      (44.00)  

Net Income                  71,480    1,583,354    1,654,834                
                         --------  -----------  -----------   ----------
BALANCE, December 31, 2006  $  5,409  $18,892,923  $18,898,332    24,624.78     
                         ========  ===========  ===========   ==========

The accompanying Notes to Financial Statements are an integral                
part of this statement.               
</PAGE>                                                                         

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AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(1)  Organization -                                                             

AEI  Income  & Growth Fund 24 LLC (the Company),  a  Limited          
Liability  Company,  was  formed on  November  21,  2000  to          
acquire   and  lease  commercial  properties  to   operating          
tenants.   The Company's operations are managed by AEI  Fund          
Management XXI, Inc. (AFM), the Managing Member.  Robert  P.          
Johnson,  the President and sole director of AFM, serves  as          
the   Special  Managing  Member.   AFM  is  a  wholly  owned          
subsidiary  of AEI Capital Corporation of which Mr.  Johnson          
is  the  majority  shareholder.  AEI Fund  Management,  Inc.          
(AEI), an affiliate of AFM, performs the administrative  and          
operating functions for the Company.                                  

The terms of the offering called for a subscription price of          
$1,000  per  LLC Unit, payable on acceptance of  the  offer.          
The  Company commenced operations on October 31,  2001  when          
minimum  subscriptions of 1,500 LLC Units ($1,500,000)  were          
accepted.   The  offering terminated May 17, 2003  when  the          
extended  offering  period expired.   The  Company  received          
subscriptions for 24,831.283 Units.  Under the terms of  the          
Operating  Agreement,  the  Limited  Members  and   Managing          
Members   contributed  funds  of  $24,831,283  and   $1,000,          
respectively.  The Company shall continue until December 31,          
2051,  unless dissolved, terminated and liquidated prior  to          
that date.                                                            

During operations, any Net Cash Flow, as defined, which  the          
Managing Members determine to distribute will be distributed          
97%  to  the Limited Members and 3% to the Managing Members.          
Distributions to Limited Members will be made  pro  rata  by          
Units.                                                                

Any  Net  Proceeds  of Sale, as defined, from  the  sale  or          
financing of properties which the Managing Members determine          
to distribute will, after provisions for debts and reserves,          
be  paid  in  the following manner: (i) first,  99%  to  the          
Limited  Members  and 1% to the Managing Members  until  the          
Limited  Members  receive  an amount  equal  to:  (a)  their          
Adjusted Capital Contribution plus (b) an amount equal to 7%          
of their Adjusted Capital Contribution per annum, cumulative          
but not compounded, to the extent not previously distributed          
from  Net  Cash  Flow; (ii) any remaining  balance  will  be          
distributed  90%  to  the Limited Members  and  10%  to  the          
Managing Members.  Distributions to the Limited Members will          
be made pro rata by Units.                                            

For  tax  purposes,  profits  from  operations,  other  than          
profits  attributable  to  the  sale,  exchange,  financing,          
refinancing  or  other  disposition  of  property,  will  be          
allocated 97% to the Limited Members and 3% to the  Managing          
Members.   Net losses from operations will be allocated  99%          
to the Limited Members and 1% to the Managing Members.                

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(1)  Organization - (Continued)                                                 

For  tax purposes, profits arising from the sale, financing,          
or  other  disposition  of property  will  be  allocated  in          
accordance  with  the Operating Agreement  as  follows:  (i)          
first,  to  those  Members with deficit  balances  in  their          
capital  accounts  in an amount equal to  the  sum  of  such          
deficit  balances; (ii) second, 99% to the  Limited  Members          
and  1%  to the Managing Members until the aggregate balance          
in  the Limited Members' capital accounts equals the sum  of          
the Limited Members' Adjusted Capital Contributions plus  an          
amount  equal  to 7% of their Adjusted Capital Contributions          
per  annum, cumulative but not compounded, to the extent not          
previously  allocated;  (iii)  third,  the  balance  of  any          
remaining  gain  will then be allocated 90% to  the  Limited          
Members  and  10% to the Managing Members.  Losses  will  be          
allocated 99% to the Limited Members and 1% to the  Managing          
Members.                                                              

The  Managing Members are not required to currently  fund  a          
deficit capital balance.  Upon liquidation of the Company or          
withdrawal  by a Managing Member, the Managing Members  will          
contribute to the Company an amount equal to the  lesser  of          
the  deficit balances in their capital accounts or 1.01%  of          
the  total capital contributions of the Limited Members over          
the amount previously contributed by the Managing Members.            

(2)  Summary of Significant Accounting Policies -                               

Financial Statement Presentation                                      

The  accounts of the Company are maintained on the accrual        
basis  of  accounting for both federal income tax purposes        
and financial reporting purposes.                                 

Accounting Estimates                                                  

Management  uses  estimates and assumptions  in  preparing        
these  financial statements in accordance  with  generally        
accepted  accounting  principles.   Those  estimates   and        
assumptions may affect the reported amounts of assets  and        
liabilities,  the  disclosure  of  contingent  assets  and        
liabilities,  and  the  reported  revenues  and  expenses.        
Actual results could differ from those estimates.                 

The  Company regularly assesses whether market events  and        
conditions  indicate  that it is  reasonably  possible  to        
recover  the carrying amounts of its investments  in  real        
estate  from  future operations and sales.   A  change  in        
those  market events and conditions could have a  material        
effect on the carrying amount of its real estate.                 

Cash Concentrations of Credit Risk                                    

The   Company's  cash  is  deposited  primarily   in   one        
financial institution and at times during the year it  may        
exceed FDIC insurance limits.                                     

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(2)  Summary of Significant Accounting Policies - (Continued)                   

Statement of Cash Flows                                               

For  purposes  of  reporting cash  flows,  cash  and  cash        
equivalents  may include cash in checking,  cash  invested        
in   money   market  accounts,  certificates  of  deposit,        
federal  agency notes and commercial paper with a term  of        
three months or less.                                             

Receivables                                                           

Credit  terms are extended to tenants in the normal course        
of   business.    The  Company  performs  ongoing   credit        
evaluations  of  its customers' financial  condition  and,        
generally, requires no collateral.                                

Receivables   are   recorded  at   their   estimated   net        
realizable  value.   The  Company  follows  a  policy   of        
providing  an  allowance for doubtful  accounts;  however,        
based on historical experience, and its evaluation of  the        
current  status  of  receivables, the Company  is  of  the        
belief  that  such  accounts will be  collectible  in  all        
material  respects and thus an allowance is not necessary.        
Accounts  are considered past due if payment is  not  made        
on  a timely basis in accordance with the Company's credit        
terms.   Receivables considered uncollectible are  written        
off.                                                              

Income Taxes                                                          

The  income or loss of the Company for federal income  tax        
reporting  purposes  is  includable  in  the  income   tax        
returns  of  the Members.  In general, no recognition  has        
been  given to income taxes in the accompanying  financial        
statements.                                                       

The  tax  return  and the amount of distributable  Company        
income  or loss are subject to examination by federal  and        
state  taxing authorities.  If such an examination results        
in  changes to distributable Company income or  loss,  the        
taxable   income   of  the  members  would   be   adjusted        
accordingly.                                                      

Real Estate                                                           

The  Company's  real  estate is leased  under  triple  net        
leases   classified  as  operating  leases.   The   leases        
provide  for  base  annual  rental  payments  payable   in        
monthly  installments.   The  Company  recognizes   rental        
revenue  according to the terms of the individual  leases.        
For  leases  which  contain stated rental  increases,  the        
increases  are  recognized in the year in which  they  are        
effective.   Contingent  rental  payments  are  recognized        
when  the  contingencies on which the payments  are  based        
are  satisfied  and the rental payments become  due  under        
the terms of the leases.                                          

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(2)  Summary of Significant Accounting Policies - (Continued)                   

Real  estate is recorded at the lower of cost or estimated        
net  realizable value.  The Company compares the  carrying        
amount  of  its  properties to the estimated  probability-        
weighted  future  cash flows expected to result  from  the        
property and its eventual disposition.  If the sum of  the        
expected  future  cash  flows is less  than  the  carrying        
amount   of  the  property,  the  Company  recognizes   an        
impairment  loss  by  the amount  by  which  the  carrying        
amount  of  the  property exceeds the fair  value  of  the        
property.                                                         

The  Company has capitalized as Investments in Real Estate        
certain  costs  incurred in the review and acquisition  of        
the  properties.  The costs were allocated  to  the  land,        
buildings and equipment.                                          

The   buildings   and  equipment  of   the   Company   are        
depreciated  using the straight-line method for  financial        
reporting purposes based on estimated useful lives  of  25        
years and 5 years, respectively.                                  

In  accordance  with  Statement  of  Financial  Accounting        
Standards  No.  144,  Accounting  for  the  Impairment  or        
Disposal  of Long-Lived Assets, upon complete disposal  of        
a  property or classification of a property as Real Estate        
Held  for Sale, the Company includes the operating results        
and  sale of the property in discontinued operations.   In        
addition,  the  Company  reclassifies  the  prior  periods        
operating  results and any partial sales of  the  property        
to discontinued operations.                                       

The  Company  accounts for properties owned as tenants-in-        
common  with  affiliated Companies and/or unrelated  third        
parties  using  the  proportionate  consolidation  method.        
Each  tenant-in-common owns a separate, undivided interest        
in  the properties.  Any tenant-in-common that holds  more        
than  a  50% interest does not control decisions over  the        
other    tenant-in-common   interests.    The    financial        
statements  reflect only this Company's  percentage  share        
of   the   properties'  land,  building   and   equipment,        
liabilities, revenues and expenses.                               

The  Company's  properties  are subject  to  environmental        
laws  and  regulations  adopted  by  various  governmental        
entities  in the jurisdiction in which the properties  are        
located.    These  laws  could  require  the  Company   to        
investigate  and remediate the effects of the  release  or        
disposal  of  hazardous materials at  these  locations  if        
found.  For each property, an environmental assessment  is        
completed  prior to acquisition.  In addition,  the  lease        
agreements  typically  strictly prohibit  the  production,        
handling, or storage of hazardous materials (except  where        
incidental  to  the  tenant's  business  such  as  use  of        
cleaning  supplies)  in violation  of  applicable  law  to        
restrict  environmental and other  damage.   Environmental        
liabilities  are  recorded  when  it  is  determined   the        
liability  is  probable and the costs  can  reasonably  be        
estimated.   There were no environmental issues  noted  or        
liabilities recorded at December 31, 2006 and 2005.               

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(2)  Summary of Significant Accounting Policies - (Continued)                   

Reclassification                                                      

Certain  items  in  the prior year's financial  statements        
have  been  reclassified to conform to 2006  presentation.        
These   reclassifications  had  no  effect   on   Members'        
capital, net income or cash flows.                                

Recently Issued Accounting Pronouncements                             

Management  has  reviewed recently  issued,  but  not  yet        
effective,  accounting pronouncements and does not  expect        
the  implementation  of  these pronouncements  to  have  a        
significant effect on the Company's financial statements.         

(3)  Related Party Transactions -                                               

The  Company owns a 72% interest in a Jared Jewelry store.        
The  remaining interest in this property is owned  by  AEI        
Private Net Lease Millennium Fund Limited Partnership,  an        
affiliate of the Company. The Company owns a 55%  interest        
in  an  Applebee's  restaurant  in  Sandusky,  Ohio.   The        
remaining  interest in this property is owned by  AEI  Net        
Lease  Income  &  Growth Fund XX Limited  Partnership,  an        
affiliate  of  the  Company.   The  Company  owns  a   14%        
interest  in  a  CarMax  auto superstore.   The  remaining        
interests  in  this property are owned  by  AEI  Income  &        
Growth  Fund XXI Limited Partnership, AEI Income &  Growth        
Fund  25  LLC  and  AEI Private Net Lease Millennium  Fund        
Limited  Partnership,  affiliates  of  the  Company.   The        
Company  owns  a  45%  interest in an Advance  Auto  Parts        
store.   The remaining interest in this property is  owned        
by  AEI  Income & Growth Fund 26 LLC, an affiliate of  the        
Company.   The Company owned a 23% interest  in  a  Garden        
Ridge  retail  store.   The remaining  interests  in  this        
property were owned by AEI Real Estate Fund XVIII  Limited        
Partnership  and  AEI Income & Growth  Fund  XXII  Limited        
Partnership,  affiliates  of the  Company,  and  unrelated        
third parties.                                                    

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(3)  Related Party Transactions - (Continued)                                   

AEI  and  AFM  received  the  following  compensation  and        
reimbursements for costs and expenses from the Company:           

                                     Total Incurred by the Company
                                      for the Year Ended December 31

                                                 2006       2005
a.AEI and AFM are reimbursed for all costs incurred in                          
connection with managing the Company's operations,                          
maintaining the Company's books and communicating                           
the results of operations to the Limited Members.   $ 224,842  $ 247,533    
                                                 ========   ========
b.AEI and AFM are reimbursed for all direct expenses they                       
have paid on the Company's behalf to third parties                          
relating to LLC administration and property                                 
management.  These expenses included printing costs,                        
legal and filing fees, direct administrative costs,                         
outside audit costs, taxes, insurance and other                             
property costs.                                     $  65,034  $ 209,611    
                                                 ========   ========
c.AEI is reimbursed for all costs and direct expenses                           
incurred by it in acquiring properties on behalf of                         
the Company.                                        $  65,007  $  15,536    
                                                 ========   ========
d.AEI is reimbursed for all costs incurred in connection                        
with the sale of property.                          $  37,637  $   3,644    
                                                 ========   ========

The  payable  to  AEI Fund Management, Inc.  represents  the          
balance  due for the services described in 3a, b, c  and  d.          
This balance is non-interest bearing and unsecured and is to          
be paid in the normal course of business.                             

(4)  Investments in Real Estate -                                               

The  Company leases its properties to various tenants  under          
triple net leases, which are classified as operating leases.          
Under a triple net lease, the tenant is responsible for  all          
real  estate  taxes,  insurance,  maintenance,  repairs  and          
operating  expenses of the property.  The only exception  is          
under  the  Lease  for  the Advance Auto  Parts  store,  the          
Company   is  responsible  for  repairs  to  the  structural          
components  of the building, except for the roof,  which  is          
the  tenant's  responsibility.  At the time  the  properties          
were acquired, the remaining primary lease terms varied from          
13  to  20 years.  The leases provide the tenants with three          
to  four five-year renewal options subject to the same terms          
and conditions as the primary term.  The leases contain rent          
clauses which entitle the Company to receive additional rent          
in future years based on stated rent increases.                       

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(4)  Investments in Real Estate - (Continued)                                   

The   Company's  properties  are  commercial,  single-tenant          
buildings.   The Children's World daycare center  and  Jared          
Jewelry  store were constructed and acquired in  2002.   The          
land for the Johnny Carino's restaurant was acquired in 2002          
and  construction of the restaurant was completed  in  2003.          
The   Tia's   Tex-Mex  restaurant  in  Tampa,  Florida   was          
constructed in 1996 and acquired in 2003.  The Tia's Tex-Mex          
restaurant  in Salisbury, Maryland was constructed  in  1999          
and   acquired  in  2003.   The  Applebee's  restaurant   in          
Sandusky, Ohio was constructed in 1995 and acquired in 2004.          
The  CarMax  auto  superstore was constructed  in  2003  and          
acquired  in  2005.   The  Advance  Auto  Parts  store   was          
constructed  in  2004 and acquired in 2006.  The  Applebee's          
restaurant in Fishers, Indiana was constructed in  1996  and          
acquired  in 2006.  There have been no costs capitalized  as          
improvements subsequent to the acquisition.                           

The  cost  of  the properties not held for sale and  related          
accumulated  depreciation  at  December  31,  2006  are   as          
follows:                                                              

                                           Buildings and         Accumulated
   Property                         Land     Equipment   Total  Depreciation

Children's World, Tinley Park, IL $  354,397 $1,547,448 $ 1,901,845 $ 286,278   
Jared Jewelry, Pittsburgh, PA      1,366,403  1,254,490   2,620,893   206,992   
Johnny Carino's, Littleton, CO       792,084  1,431,671   2,223,755   250,825   
Applebee's, Sandusky, OH             504,220  1,057,051   1,561,271   112,752   
CarMax, Lithia Springs, GA           570,918    749,418   1,320,336    53,709   
Advance Auto Parts,                                                             
Middletown, OH                      91,836    744,054     835,890    17,361 
Applebee's, Fishers, IN            1,204,372  1,798,181   3,002,553    20,979   
                                 ---------- ---------- ----------- ---------
                               $4,884,230 $8,582,313 $13,466,543 $ 948,896
                                 ========== ========== =========== =========

On March 18, 2005, the Company purchased a 14% interest in a          
CarMax  auto  superstore  in  Lithia  Springs,  Georgia  for          
$1,320,336.    The  property  is  leased  to   CarMax   Auto          
Superstores, Inc. under a Lease Agreement with  a  remaining          
primary  term  of  13.4  years and initial  annual  rent  of          
$95,256.                                                              

On  June 1, 2006, the Company purchased a 45% interest in an          
Advance  Auto Parts store in Middletown, Ohio for  $835,890.          
The property is leased to Advance Stores Company, Inc. under          
a  Lease  Agreement with a remaining primary  term  of  13.2          
years and initial annual rent of $58,647.                             

On  September 21, 2006, the Company purchased an  Applebee's          
restaurant in Fishers, Indiana for $3,002,553.  The property          
is  leased  to Apple Indiana II LLC under a Lease  Agreement          
with  a primary term of 20 years and initial annual rent  of          
$216,547.                                                             
AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(4)  Investments in Real Estate - (Continued)                                   

Subsequent to December 31, 2006, the Company purchased a 50%          
interest  in a Tractor Supply Company store in Grand  Forks,          
North Dakota for approximately $1,383,000.  The property  is          
leased  to  Tractor Supply Company under a  Lease  Agreement          
with  a  remaining  primary term of 13.9 years  and  initial          
annual rent of $102,351.                                              

For  properties owned as of December 31, 2006,  the  minimum          
future rent payments required by the leases are as follows:           

2007           $ 1,611,275        
2008             1,679,963        
2009             1,689,733        
2010             1,692,098        
2011             1,698,546        
Thereafter      16,921,385        
         -----------
       $25,293,000
         ===========

There were no contingent rents recognized in 2006 and 2005.           

(5)  Major Tenants -                                                            

The following schedule presents rent revenue from individual          
tenants,   or  affiliated  groups  of  tenants,   who   each          
contributed  more  than ten percent of the  Company's  total          
rent revenue for the year ended December 31:                          

Tenants             Industry           2006       2005    

Tia's Restaurant Group   Restaurant      $  465,850  $  464,100       
Sterling Jewelers Inc.   Retail             240,285     240,285       
Kona Restaurant                                                       
Group, Inc.           Restaurant         229,512     227,240    
KinderCare Learning                                                   
Centers, Inc.         Child Care         180,212     180,212    
Apple American Group     Restaurant         179,018         N/A       
Champps Entertainment                                                 
of Texas, Inc.        Restaurant             N/A     316,500    
                                    ----------  ----------
Aggregate rent revenue of major tenants  $1,294,877  $1,428,337       
                                    ==========  ==========
Aggregate rent revenue of major tenants as                            
a percentage of total rent revenue               76%         80%      
                                    ==========  ==========

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(6)  Discontinued Operations -                                                  

In  December 2003, Austin Pancho's I, LLC (API), the  tenant          
of the Pancho's restaurant in Round Rock, Texas, reported to          
the Company that it was experiencing financial problems as a          
result  of lower than expected sales.  API did not make  any          
rental  payments after November 2003.  Through November  20,          
2005,  API  owed $378,779 for past due rent, which  has  not          
been  accrued due to the uncertainty of collection.   During          
2005  and 2004, the Company incurred $168,213 of real estate          
tax  expense  related  to  2003, 2004  and  2005  taxes  and          
assessments due on the property.  Due to the uncertainty  of          
collection,  the Company expensed these amounts,  which  are          
normally  the  responsibility of the  tenant.   The  Company          
retained  legal counsel to represent its interests  in  this          
matter.  In May 2004, the Company terminated API's right  to          
possession  of  the property.  The Lease Agreement  was  not          
terminated  and  the Company pursued its  legal  options  to          
collect  past due amounts and any damages from API  and  the          
guarantors  of the Lease.  The Company obtained  a  judgment          
against one of the guarantors.  Thus far, collection efforts          
have  been  unsuccessful and there appear to be no immediate          
prospects for collection on the judgment.                             

In  September 2005, the Company entered into an agreement to          
sell  the  property  for $1,050,000 to  an  unrelated  third          
party.    In  the  third  quarter  of  2005,  a  charge   to          
discontinued  operations  for  real  estate  impairment   of          
$356,000  was  recognized, which was the difference  between          
the  book value at September 30, 2005 of $1,350,000 and  the          
estimated  net  sale proceeds of $994,000.  The  charge  was          
recorded  against  the cost of the land  and  building.   On          
November  21,  2005,  the  sale  closed  with  the   Company          
receiving net sale proceeds of $995,082, which resulted in a          
net gain of $1,082.                                                   

In February 2004, Garden Ridge, L.P. (GR), the tenant of the          
Garden  Ridge  retail store in Woodlands, Texas,  filed  for          
Chapter 11 bankruptcy reorganization.  In press releases, GR          
reported rejecting the leases of 9 of 44 stores and that  it          
was  attempting  to renegotiate lease terms  for  its  other          
stores.   The Woodlands store was not identified as  one  of          
the  nine  to be closed.  GR entered into negotiations  with          
the  property owners of the Woodlands store to arrive at  an          
agreement  to  modify rental terms that would induce  GR  to          
assume  the  Lease for this property.  GR and  the  property          
owners  subsequently agreed to a Lease amendment  to  reduce          
the  annual rent by 23%, with a 10% rent increase on January          
1,  2008.   The Company's share of the new rental amount  is          
$168,636.   The  amendment provides  for  additional  rental          
payments if the store's sales exceed certain stated amounts.          
The  amendment also calls for the owners to waive  rent  for          
one   month  during  the  first  six  months  following  the          
bankruptcy court's approval of GR's assumption of the Lease.          
With  the  exception of February 2004, GR  made  all  rental          
payments due under its original Lease.                                

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(6)  Discontinued Operations - (Continued)                                      

On  April 28, 2005, the bankruptcy court approved GR's  Plan          
of  Reorganization.  As part of the Plan, the Lease for  the          
Woodlands  store  was assumed by GR and the Lease  amendment          
became  effective.  Pursuant to the amendment,  GR  selected          
July  2005  as  the one month to have rent waived.   In  May          
2005,  GR  paid the rent due for February 2004 and, pursuant          
to  the amendment, GR was entitled to credit an equal amount          
against  any  installment of rent due  in  the  future.   GR          
applied  the credit for the February rent against  rent  due          
for August and September 2005.                                        

On  November  3, 2006, the Company sold its 23% interest  in          
the  Garden  Ridge retail store in Woodlands,  Texas  to  an          
unrelated  third  party.   The  Company  received  net  sale          
proceeds  of  $2,006,876, which resulted in a  net  gain  of          
$263,221.   At  the  time  of sale,  the  cost  and  related          
accumulated   depreciation  was  $1,912,690  and   $169,035,          
respectively.   Through the date of sale, GR  complied  with          
all Lease terms as amended.                                           

In  May, 2006, the Company entered into an agreement to sell          
the  Champps Americana restaurant in Houston, Texas  to  the          
tenant.   On May 31, 2006, the sale closed with the  Company          
receiving net sale proceeds of $3,147,170, which resulted in          
a  net gain of $311,460.  At the time of sale, the cost  and          
related   accumulated  depreciation   was   $3,106,301   and          
$270,591, respectively.                                               

On   September  26,  2006,  Tia's  Florida,  LLC  and  Tia's          
Maryland,  LLC, the tenants of the Tia's Tex-Mex restaurants          
in Tampa, Florida and Salisbury Maryland filed for Chapter 7          
bankruptcy,  which leads to liquidation and  dissolution  of          
the  companies.   The tenants closed the  restaurants.   The          
primary  guarantor  of  the Leases,  Julio's  Investors  LLC          
(Julio's),  is  continuing  to pay  the  rent  and  property          
expenses.    The  Company  and  Julio's  are  discussing   a          
potential buyout of the Lease guarantees whereby the Company          
would release Julio's from its guarantees in exchange for  a          
lump  sum  payment.  The Company is actively  marketing  the          
properties  for sale.  The Company has evaluated the  Leases          
and  property values and decided that there is no impairment          
loss  at  this  time.  At December 31, 2006, the  properties          
were  classified as Real Estate Held for Sale  with  a  book          
value of $4,280,251.                                                  

During  2006  and 2005, the Company distributed $80,808  and          
$323,232  of  net sale proceeds to the Limited and  Managing          
Members  as  part  of  their quarterly distributions,  which          
represented  $3.25  and $12.95 per LLC  Unit,  respectively.          
The Company anticipates the remaining net sale proceeds will          
either  be  reinvested in additional property or distributed          
to the Members in the future.                                         

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(6)  Discontinued Operations - (Continued)                                      

The financial results for these properties are reflected  as          
Discontinued   Operations  in  the  accompanying   financial          
statements.   The following are the results of  discontinued          
operations for the years ended December 31:                           

                                     2006       2005

Rental Income                             $  748,885   $  935,183     
Property Management Expenses                 (46,490)    (182,027)    
Depreciation                                (140,935)    (242,717)    
Real Estate Impairment                             0     (356,000)    
Gain on Disposal of Real Estate              574,681        1,082     
                                       ----------   ----------
Income from Discontinued Operations  $1,136,141   $  155,521
                                       ==========   ==========

(7)  Members' Capital -                                                         

Cash  distributions of $44,413 and $39,414 were made to  the          
Managing Members and $1,489,875 and $1,489,871 were made  to          
the  Limited Members for the years ended December  31,  2006          
and  2005, respectively.  The Limited Members' distributions          
represent  $60.42 and $60.29 per LLC Unit outstanding  using          
24,658  and 24,711 weighted average Units in 2006 and  2005,          
respectively.  The distributions represent $60.42 and $13.52          
per  Unit  of  Net Income and $-0- and $46.77  per  Unit  of          
return   of   contributed  capital   in   2006   and   2005,          
respectively.                                                         

As  part  of  the  Limited Members' distributions  discussed          
above,  the  Company  distributed $80,000  and  $320,000  of          
proceeds from property sales in 2006 and 2005, respectively.          
In  2006 and 2005, the distribution of sale proceeds reduced          
the  Limited  Members'  Adjusted  Capital  Contributions  by          
$43,707 and $164,814, respectively.                                   

The  Company may acquire Units from Limited Members who have          
tendered  their  Units to the Company.  Such  Units  may  be          
acquired  at a discount.  The Company will not be  obligated          
to  purchase  in  any year any number of  Units  that,  when          
aggregated  with  all other transfers  of  Units  that  have          
occurred  since  the  beginning of the  same  calendar  year          
(excluding  Permitted Transfers as defined in the  Operating          
Agreement),  would exceed 2% of the total  number  of  Units          
outstanding  on January 1 of such year.  In no  event  shall          
the  Company be obligated to purchase Units if, in the  sole          
discretion  of  the  Managing Members, such  purchase  would          
impair the capital or operation of the Company.                       

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(7)  Members' Capital - (Continued)                                             

During  2006, three Limited Members redeemed a total  of  44          
Units   for   $33,820  in  accordance  with  the   Operating          
Agreement.   During  2005, two Limited  Members  redeemed  a          
total  of  162.5  Units for $137,641.  The Company  acquired          
these  Units  using  Net  Cash Flow  from  operations.   The          
redemptions   increase   the  remaining   Limited   Member's          
ownership  interest in the Company.  As a  result  of  these          
redemption payments and pursuant to the Operating Agreement,          
the  Managing Members received distributions of  $1,046  and          
$4,257 in 2006 and 2005, respectively.                                

After  the  effect of redemptions and the return of  capital          
from   the   sale   of   property,  the   Adjusted   Capital          
Contribution,  as  defined in the  Operating  Agreement,  is          
$999.92 per original $1,000 invested.                                 

(8)  Income Taxes -                                                             

The   following  is  a  reconciliation  of  net  income  for          
financial reporting purposes to income reported for  federal          
income tax purposes for the years ended December 31:                  

                                             2006       2005

Net Income for Financial Reporting Purposes    $1,654,834  $  493,638 

Depreciation for Tax Purposes Under                                   
Depreciation for Financial Reporting Purposes    106,722     129,314

Income Accrued for Tax Purposes Over (Under)                          
Income for Financial Reporting Purposes         (308,157)     77,454

Property Expenses for Tax Purposes (Over) Under                       
Expenses for Financial Reporting Purposes       (241,687)    129,538

Amortization of Start-Up and Organization Costs    (2,451)     (2,939)

Real Estate Impairment Loss                                           
Not Recognized for Tax Purposes                        0     356,000

Gain / Loss on Sale of Real Estate for Tax Purposes                   
Compared to Gain for Financial Reporting Purposes                   
                                                 (124,663)   (773,906)
                                                ----------  ----------
     Taxable Income to Members                $1,084,598  $  409,099
                                                ==========  ==========

AEI INCOME & GROWTH FUND 24 LLC               
NOTES TO FINANCIAL STATEMENTS               
DECEMBER 31, 2006 AND 2005                

(8) Income Taxes - (Continued)                                                

The  following  is a reconciliation of Members'  Equity  for          
financial reporting purposes to Members' Equity reported for          
federal income tax purposes for the years ended December 31:          

                                                   2006       2005

  Members' Equity for Financial Reporting Purposes $18,898,332 $18,812,652

Adjusted Tax Basis of Investments in Real Estate                      
Over Net Investments in Real Estate                                 
   for Financial Reporting Purposes                    302,140     320,081

Income Accrued for Tax Purposes Over                                  
   Income for Financial Reporting Purposes              15,018     323,175

Property Expenses for Tax Purposes Under                              
   Expenses for Financial Reporting Purposes                 0     241,687

  Capitalized Start-Up Costs Under Section 195           8,697       8,697

   Amortization of Start-Up and Organization Costs      (14,697)    (12,246)

Organization and Syndication Costs Treated as                         
Reduction of Capital for Financial Reporting                        
   Purposes                                          3,665,328   3,665,328
                                                    ----------  ----------
        Members' Equity for Tax Reporting Purposes $22,874,818 $23,359,374
                                                    ==========  ==========

(9)  Fair Value of Financial Instruments -                                      

The estimated fair values of the financial instruments, none          
of  which  are held for trading purposes, are as follows  at          
December 31:                                                          

                  2006                  2005
                Carrying      Fair     Carrying       Fair
                  Amount      Value      Amount        Value

Money  Market Funds  $2,542,078  $2,542,078  $1,306,097  $1,306,097   
                   ---------   ---------   ---------   ---------
Total Cash and                                                        
Cash Equivalents   $2,542,078  $2,542,078  $1,306,097  $1,306,097 
                   =========   =========   =========   =========

ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON                      
ACCOUNTING AND FINANCIAL DISCLOSURE.                              

None.                                                             

ITEM 8A.  CONTROLS AND PROCEDURES.                                              

(a) Evaluation of disclosure controls and procedures              

Under  the  supervision  and with  the  participation  of       
management, including its President and Chief Financial  Officer,               
the Managing Member of the Company evaluated the effectiveness of               
the   design  and  operation  of  its  disclosure  controls   and               
procedures (as defined in Rule 13a-14(c) under the Exchange Act).               
Based  upon  that  evaluation, the President and Chief  Financial               
Officer of the Managing Member concluded that, as of the  end  of               
the  period  covered by this report, the disclosure controls  and               
procedures of the Company are adequately designed to ensure  that               
information required to be disclosed by us in the reports we file               
or   submit  under  the  Exchange  Act  is  recorded,  processed,               
summarized  and  reported, within the time periods  specified  in               
applicable   rules  and  forms  and  that  such  information   is               
accumulated   and  communicated  to  management,  including   the               
President and Chief Financial Officer of the Managing Member,  in               
a   manner   that  allows  timely  decisions  regarding  required               
disclosure.                                                                     

(b)  Changes in internal controls                                 

There  were no significant changes made in the  Company's       
internal controls during the most recent period covered  by  this               
report that have materially affected, or are reasonably likely to               
materially affect, the Company's internal control over  financial               
reporting.                                                                      

ITEM 8B.  OTHER INFORMATION.                                                    

None.                                                             

PART III                

ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND                          
CONTROL PERSONS AND CORPORATE GOVERNANCE;                         
COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.                

The registrant is a limited liability company and has  no       
officers,  directors, or direct employees.  The Managing  Members               
manage  and  control  the  Company's  affairs  and  have  general               
responsibility  and  the  ultimate  authority  in   all   matters               
affecting the Company's business.  The Managing Members  are  AEI               
Fund  Management XXI, Inc. (AFM), the Managing Member, and Robert               
P.  Johnson, Chief Executive Officer, President and sole director               
of  AFM,  the  Special Managing Member.  AFM is  a  wholly  owned               
subsidiary of AEI Capital Corporation of which Mr. Johnson is the               
majority   shareholder.   AFM  has  only  one  senior   financial               
executive,  its  Chief Financial Officer.   The  Chief  Financial               
Officer  reports  directly to Mr. Johnson and is accountable  for               
his actions to Mr. Johnson.  Although Mr. Johnson and AFM require               
that  all  of  their  personnel, including  the  Chief  Financial               
Officer, engage in honest and ethical conduct, ensure full, fair,               
accurate, timely, and understandable disclosure, comply with  all               
applicable  governmental laws, rules and regulations, and  report               
to  Mr. Johnson any deviation from these principles, because  the               
organization  is  composed of only approximately 35  individuals,               
because  the  management  of a company  by  an  entity  that  has               
different  interests in distributions and income  than  investors               
involves numerous conflicts of interest that must be resolved  on               
a  daily  basis, and because the ultimate decision maker  in  all               
instances  is Mr. Johnson, AFM has not adopted a formal  code  of               
conduct.   Instead,  the materials pursuant  to  which  investors               
purchase Units disclose these conflicts of interest in detail and               
Mr.  Johnson,  as  the  CEO and sole director  of  AFM,  resolves               
conflicts  to  the  best  of  his ability,  consistent  with  his               
fiduciary obligations to AFM and the fiduciary obligations of AFM               
to the Company.  The director and officers of AFM are as follows:               

Robert  P.  Johnson, age 62, is Chief Executive  Officer,       
President  and  sole director and has held these positions  since               
the  formation  of AFM in August 1994, and has  been  elected  to               
continue  in these positions until December 2007.  From  1970  to               
the  present, he had been employed exclusively in the  investment               
industry,  specializing in limited partnership  investments.   In               
that capacity, he has been involved in the development, analysis,               
marketing   and  management  of  public  and  private  investment               
programs investing in net lease properties as well as public  and               
private  investment  programs investing  in  energy  development.               
Since 1971, Mr. Johnson has been the president, a director and  a               
registered principal of AEI Securities, Inc., which is registered               
with  the SEC as a securities broker-dealer, is a member  of  the               
National Association of Securities Dealers, Inc. (NASD) and is  a               
member  of the Security Investors Protection Corporation  (SIPC).               
Mr.  Johnson  has  been president, a director and  the  principal               
shareholder   of  AEI  Fund  Management,  Inc.,  a  real   estate               
management  company founded by him, since 1978.  Mr.  Johnson  is               
currently  a general partner or principal of the general  partner               
in ten limited partnerships and a managing member in four LLCs.                 

ITEM 9.   DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND                          
CONTROL PERSONS AND CORPORATE GOVERNANCE;                         
COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.                
(Continued)                                                                     

Patrick  W.  Keene,  age 47, is Chief Financial  Officer,       
Treasurer  and  Secretary  and has  held  these  positions  since               
January  22,  2003  and  has been elected to  continue  in  these               
positions  until December 2007.  Mr. Keene has been  employed  by               
AEI  Fund  Management, Inc. and affiliated entities  since  1986.               
Prior  to being elected to the positions above, he was Controller               
of  the various entities.  From 1982 to 1986, Mr. Keene was  with               
KPMG  Peat  Marwick  Certified Public Accountants,  first  as  an               
auditor and later as a tax manager.  Mr. Keene is responsible for               
all accounting functions of AFM and the registrant.                             

Since Mr. Johnson serves as the Special Managing Member of        
the  Company,  as well as the sole director of AFM,  all  of  the               
duties  that might be assigned to an audit committee are assigned               
to  Mr. Johnson.  Mr. Johnson is not an audit committee financial               
expert, as defined.  As an officer and majority owner, through  a               
parent  company, of AFM, and as the Special Managing Member,  Mr.               
Johnson is not a "disinterested director" and may be subject to a               
number of conflicts of interests in his capacity as sole director               
of AFM.                                                                         

Before the independent auditors are engaged, Mr. Johnson,       
as the sole director of AFM, approves all audit-related fees, and               
all permissible nonaudit fees, for services of our auditors.                    

Section 16(a) Beneficial Ownership Reporting Compliance                         

Under federal securities laws, the directors and officers       
of  the Managing Member of the Company, and any beneficial  owner               
of  more than 10% of a class of equity securities of the Company,               
are  required  to report their ownership of the Company's  equity               
securities  and  any changes in such ownership to the  Securities               
and  Exchange Commission (the "Commission").  Specific due  dates               
for  these  reports have been established by the Commission,  and               
the  Company is required to disclose in this Annual Report on 10-               
KSB any delinquent filing of such reports and any failure to file               
such  reports  during the fiscal year ended  December  31,  2006.               
Based upon information provided by officers and directors of  the               
Managing Member, all officers, directors and 10% owners filed all               
reports on a timely basis in the 2006 fiscal year.                              

ITEM 10.  EXECUTIVE COMPENSATION.                                               

The Managing Member and affiliates are reimbursed at cost       
for  all  services performed on behalf of the registrant and  for               
all  third party expenses paid on behalf of the registrant.   The               
cost for services performed on behalf of the registrant is actual               
time  spent  performing such services plus  an  overhead  burden.               
These  services include organizing the registrant  and  arranging               
for  the  offer  and  sale  of Units,  reviewing  properties  for               
acquisition and rendering administrative, property management and               
property  sales services.  The amount and nature of such payments               
are detailed in Item 12 of this annual report on Form 10-KSB.                   

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND                   
MANAGEMENT AND RELATED STOCKHOLDER MATTERS.                 

The following table sets forth information pertaining  to       
the ownership of the Units by each person known by the Company to               
beneficially  own  5%  or  more of the Units,  by  each  Managing               
Member, and by each officer or director of the Managing Member as               
of February 28, 2007:                                                           

Name and Address                   Number of     Percent              
of Beneficial Owner                  Units Held    of Class               

AEI Fund Management XXI, Inc.            0            0%                  
Robert P. Johnson                        0            0%                  
Patrick W. Keene                         0            0%                  

Address for all:                                                          
1300 Wells Fargo Place                                                    
30 East 7th Street, St. Paul, Minnesota 55101                             

The  Managing Members know of no holders of more than 5%  of  the               
outstanding Units.                                                              

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND                   
DIRECTOR INDEPENDENCE.                                            

The  registrant,  AFM  and  its  affiliates  have  common       
management and utilize the same facilities.  As a result, certain               
administrative  expenses  are  allocated  among   these   related               
entities.   All  of  such activities and any  other  transactions               
involving the affiliates of the Managing Member of the registrant               
are  governed  by,  and  are conducted in  conformity  with,  the               
limitations  set  forth  in  the  Operating  Agreement   of   the               
registrant.   Reference  is  made to  Note  3  of  the  Financial               
Statements,   as  presented,  and  is  incorporated   herein   by               
reference,  for  details of related party  transactions  for  the               
years ended December 31, 2006 and 2005.                                         

Neither  the registrant, nor the Managing Member  of  the       
registrant,  has a board of directors consisting of  any  members               
who are "independent."  The sole director of the Managing Member,               
Robert  P.  Johnson, is also the Special Managing Member  of  the               
registrant,  and is the Chief Executive Officer,  and  indirectly               
the  principal owner, of the Managing Member.  Accordingly, there               
is  no  disinterested  board,  or other  functioning  body,  that               
reviews  related party transactions, or the transactions  between               
the  registrant and the Managing Members, except as performed  in               
connection with the audit of its financial statements.                          

The  limitations  included  in  the  Operating  Agreement       
require  that  the  cumulative  reimbursements  to  the  Managing               
Members and their affiliates for certain expenses will not exceed               
an  amount  equal to the sum of (i) 20% of capital contributions,               
(ii)  1% of gross revenues, plus an initial leasing fee of 3%  of               
gross  revenues for the first five years of the original term  of               
each lease, (iii) 3% of Net Proceeds of Sale, and (iv) 10% of Net               
Cash  Flow  less  the Net Cash Flow actually distributed  to  the               
Managing Members. The cumulative reimbursements subject  to  this               
limitation  are reimbursements for (i) organization and  offering               
expenses, including commissions, (ii) acquisition expenses, (iii)               
services  provided  in the sales effort of properties,  and  (iv)               
expenses  of  controlling persons and overhead expenses  directly               
attributable   to  the  forgoing  services  or  attributable   to               
administrative   services.  As  of  December  31,   2006,   these               
cumulative  reimbursements  to the  Managing  Members  and  their               
affiliates did not exceed the limitation amount.                                

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND                   
DIRECTOR INDEPENDENCE.  (Continued)                         

The following table sets forth the forms of compensation,       
distributions  and cost reimbursements paid by the registrant  to               
the  Managing Members or their Affiliates in connection with  the               
operation  of  the Fund and its properties for  the  period  from               
inception through December 31, 2006.                                            

Person or Entity                                      Amount Incurred From      
Receiving                   Form and Method      Inception (December 7, 2000) 
Compensation                 of Compensation          To December 31, 2006      

AEI Securities, Inc.  Selling Commissions equal to 10%     $2,482,128           
of proceeds, most of which were     
reallowed to Participating Dealers. 

Managing Members      Reimbursement at Cost for other      $1,200,499           
and Affiliates        Organization and Offering Costs.                          

Managing Members      Reimbursement at Cost for all        $  149,453           
and Affiliates        Acquisition Expenses.                                     

Managing Members      Reimbursement at Cost for all        $1,078,274           
and Affiliates        Administrative Expenses attributable                      
to the Fund, including all expenses 
related to management of the Fund's 
 properties  and  all  other  transfer
agency, reporting, Member relations 
and other administrative functions. 

Managing Members      Reimbursement at Cost for all        $  120,614           
and Affiliates        expenses related to the disposition                       
of the Fund's properties.           

Managing Members      3% of Net Cash Flow in any fiscal    $  168,719           
year.                               

Managing Members      1% of distributions of Net Proceeds  $   10,185           
of Sale until Limited Members have  
 received an amount equal to (a) their
 Adjusted Capital Contributions,  plus
(b) an amount equal to 7% of their  
Adjusted Capital Contributions per  
 annum, cumulative but not compounded,
to  the  extent  not   previously   
distributed. 10% of distributions of
Net Proceeds of Sale thereafter.    

PART IV               

ITEM 13.  EXHIBITS.                                                             

3.1   Certificate of Limited Liability Company (incorporated          
by   reference   to   Exhibit  3.1   of   the   registrant's          
Registration  Statement on Form SB-2 filed on  December  29,          
2000 [File No. 333-52960]).                                           

3.2  Operating Agreement to the Prospectus (incorporated  by          
reference  to  Exhibit  A  of the registrant's  Registration          
Statement  on  Form 424B3 filed on June 18, 2001  [File  No.          
333-52960]).                                                          

10.1  Net  Lease  Agreement dated May 22, 2002  between  the          
Company and ARAMARK Educational Resources, Inc. relating  to          
the  Property at 9460 W. 179th Street, Tinley Park, Illinois          
(incorporated  by  reference to Exhibit  10.1  of  Form  8-K          
filed on June 3, 2002).                                               

10.2  Net  Lease Agreement dated September 23, 2002  between          
the  Company and Kona Restaurant Group, Inc. relating to the          
Property  at  10025  W  San  Juan Way,  Littleton,  Colorado          
(incorporated  by reference to Exhibit 10.2 of  Form  10-QSB          
filed November 14, 2002).                                             

10.3  Assignment and Assumption of Lease dated  November  7,          
2002  between the Company, AEI Private Net Lease  Millennium          
Fund Limited Partnership and McKnight Road Development,  LLC          
relating  to the Property at 7381 McKnight Road, Pittsburgh,          
Pennsylvania (incorporated by reference to Exhibit  10.4  of          
Form 10-QSB filed November 14, 2002).                                 

10.4 First Amendment to Net Lease Agreement dated April  10,          
2003  between  the Company and Kona Restaurant  Group,  Inc.          
relating  to  the  Property  at  10025  W.  San  Juan   Way,          
Littleton,  Colorado (incorporated by reference  to  Exhibit          
10.2 of Form 8-K filed April 23, 2003).                               

10.5  Net  Lease Agreement dated December 10,  2003  between          
the  Company and Tia's Florida, LLC relating to the Property          
at  1053  North Dale Mabry, Tampa, Florida (incorporated  by          
reference  to  Exhibit 10.3 of Form 8-K filed  December  24,          
2003).                                                                

10.6  Net  Lease Agreement dated December 10,  2003  between          
the   Company  and  Tia's  Maryland,  LLC  relating  to  the          
Property  at  2318  North  Salisbury  Boulevard,  Salisbury,          
Maryland (incorporated by reference to Exhibit 10.4 of  Form          
8-K filed December 24, 2003).                                         

10.7  Assignment  and Assumption of Lease  dated  April  30,          
2004  between  the Company, AEI Net Lease  Income  &  Growth          
Fund  XX  Limited Partnership and PRECO II CRIC LLC relating          
to   the  Property  at  5503  Milan  Road,  Sandusky,   Ohio          
(incorporated  by reference to Exhibit 10.2 of  Form  10-QSB          
filed May 14, 2004).                                                  

10.8 Assignment and Assumption of Lease dated March 18,               
2005 between the Company, AEI Income & Growth Fund XXI                
Limited Partnership, AEI Income & Growth Fund 25 LLC, AEI             
Private Net Lease Millennium Fund Limited Partnership and             
Silver Capital Net Lease Fund II, LLC relating to the                 
Property at 1977 Thornton Road, Lithia Springs, Georgia               
(incorporated by reference to Exhibit 10.2 of Form 10-QSB             
filed May 13, 2005).                                                  

10.9 Purchase Agreement dated September 19, 2005 between              
the Company and Hamid Zarafshani relating to the Property             
at 2850 35IH North, Round Rock, Texas (incorporated by                
reference to Exhibit 10.1 of Form 10-QSB filed November 14,           
2005).                                                                

10.10     Purchase Agreement dated May 3, 2006 between the            
Company and Champps Operating Corporation relating to the             
Property at 11681 Westheimer Road, Houston, Texas                     
(incorporated by reference to Exhibit 10.1 of Form 10-QSB             
filed May 12, 2006).                                                  

10.11     Assignment and Assumption of Purchase and Sale              
Agreement dated May 24, 2006 between the Company, AEI                 
Income & Growth Fund 26 LLC and AEI Fund Management, Inc.             
relating to the Property at 65 North University Boulevard,            
Middletown, Ohio (incorporated by reference to Exhibit 10.1           
of Form 10-QSB filed August 14, 2006).                                

ITEM 13.  EXHIBITS.  (Continued)                                                

10.12     Assignment and Assumption of Lease dated May 31,            
2006 between the Company, AEI Income & Growth Fund 26 LLC             
and Blue Bell Partners, LLC relating to the Property at 65            
North University Boulevard, Middletown, Ohio (incorporated            
by reference to Exhibit 10.2 of Form 10-QSB filed August              
14, 2006).                                                            

10.13     Contract of Sale dated August 17, 2006 between              
the Company, various other property owners and Compson                
Holding Corporation relating to the Property at 16778                 
Interstate 45 South, Conroe (Woodlands), Texas                        
(incorporated by reference to Exhibit 10.1 of Form 10-QSB             
filed November 9, 2006).                                              

10.14     Assignment and Assumption of Purchase Agreement             
dated September 11, 2006 between the Company and AEI Fund             
Management, Inc. relating to the Property at 8310 E. 96th             
Street, Fishers, Indiana (incorporated by reference to                
Exhibit 10.1 of Form 8-K filed September 26, 2006).                   

10.15     Net Lease Agreement dated September 21, 2006                
between the Company and Apple Indiana II LLC relating to              
the Property at 8310 E. 96th Street, Fishers, Indiana                 
(incorporated by reference to Exhibit 10.2 of Form 8-K                
filed September 26, 2006).                                            

31.1  Certification of Chief Executive Officer  of  Managing          
Member pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and          
Section 302 of the Sarbanes-Oxley Act of 2002.                        

31.2  Certification of Chief Financial Officer  of  Managing          
Member pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and          
Section 302 of the Sarbanes-Oxley Act of 2002.                        

32    Certification  of Chief Executive  Officer  and  Chief          
Financial  Officer  of Managing Member pursuant  to  Section          
906 of the Sarbanes-Oxley Act of 2002.                                

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.                               

The  following  is a summary of the fees  billed  to  the       
Company   by  Boulay,  Heutmaker,  Zibell  &  Co.  P.L.L.P.   for               
professional  services rendered for the years ended December  31,               
2006 and 2005:                                                                  

Fee Category                            2006       2005               

Audit Fees                           $  13,650   $ 12,750             
Audit-Related Fees                           0        682             
Tax Fees                                     0          0             
All Other Fees                               0          0             
                          ---------   --------
Total Fees                      $  13,650   $ 13,432        
                          =========   ========

Audit  Fees  - Consists of fees billed for professional  services               
rendered   for  the  audit  of  the  Company's  annual  financial               
statements   and  review  of  the  interim  financial  statements               
included  in  quarterly reports, and services that  are  normally               
provided   by  Boulay,  Heutmaker,  Zibell  &  Co.  P.L.L.P.   in               
connection with statutory and regulatory filings or engagements.                

Audit-Related  Fees - Consists of fees billed for  assurance  and               
related  services that are reasonably related to the  performance               
of  the  audit  or  review of financial statements  and  are  not               
reported under "Audit Fees." These services include consultations               
concerning financial accounting and reporting standards.                        

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.  (Continued)                  

Tax  Fees - Consists of fees billed for professional services for               
federal and state tax compliance, tax advice and tax planning.                  

All Other Fees - Consists of fees for products and services other               
than the services reported above.                                               

Policy   for  Preapproval  of  Audit  and  Permissible  Non-Audit               
Services of Independent Auditors                                                

Before the Independent Auditors are engaged by the Company        
to render audit or non-audit services, the engagement is approved               
by Mr. Johnson acting as the Company's audit committee.                         

SIGNATURES                

In  accordance with Section 13 or 15(d) of  the  Exchange       
Act, the registrant caused this report to be signed on its behalf               
by the undersigned, thereunto duly authorized.                                  

AEI INCOME & GROWTH FUND 24 
Limited Liability Company   
     By: AEI Fund Management XXI, Inc.
Its Managing Member 

March 23, 2007            By: /s/ Robert P Johnson                              
                             Robert P. Johnson, President and Director
                 (Principal Executive Officer)

In accordance with the Exchange Act, this report has been       
signed below by the following persons on behalf of the registrant               
and in the capacities and on the dates indicated.                               

Name                                Title                        Date         

/s/Robert P Johnson   President (Principal Executive Officer)  March 23, 2007   
Robert P. Johnson  and Sole Director of Managing Member                   

/s/Patrick W Keene   Chief Financial Officer  and  Treasurer   March 23, 2007   
Patrick W. Keene  (Principal Accounting Officer)                          

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10KSB’ Filing		Date		First		Last			Other Filings
		1/1/08		1		6
Filed on:		3/27/07
		3/23/07		1		6
		2/28/07		1		6
For Period End:		12/31/06		1		6			10KSB/A
		12/1/06		1
		11/9/06		6
		11/3/06		1		6			8-K
		9/26/06		1		6			8-K
		9/21/06		1		6			8-K
		9/11/06		6
		8/17/06		6
		8/14/06		6					10QSB
		6/1/06		1		6
		5/31/06		1		6
		5/24/06		6
		5/12/06		6					10QSB
		5/3/06		6
		12/31/05		1		6			10KSB
		11/21/05		1		6
		11/20/05		1		6
		11/14/05		6					10QSB
		9/30/05		1		6			10QSB
		9/19/05		6
		5/13/05		6					10QSB
		4/28/05		1		6
		3/18/05		1		6
		12/31/04		5					10KSB
		5/14/04		6					10QSB
		4/30/04		1		6
		12/24/03		6					8-K
		12/10/03		6					8-K
		5/17/03		1		6
		4/23/03		6					8-K
		4/10/03		6					8-K
		1/22/03		6					3
		11/14/02		6					10QSB
		11/7/02		6					8-K
		9/23/02		6
		6/3/02		6					8-K
		5/22/02		6					8-K
		10/31/01		1		6
		6/18/01		6					424B3
		5/18/01		1
		12/29/00		6					SB-2
		12/7/00		6
		11/21/00		1		6
									List all Filings

3 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/01/08  SEC                               UPLOAD¶    10/04/17    1:20K  Aei Income & Growth Fund 24 LLC
 2/01/08  SEC                               UPLOAD¶    10/04/17    1:25K  Aei Income & Growth Fund 24 LLC
10/26/07  SEC                               UPLOAD¶    10/04/17    1:43K  Aei Income & Growth Fund 24 LLC