Exhibit 21.1 ============ Subsidiaries of the Company as of January 1, 1998 ------------------------------------------------- Realty Income Texas Properties, L.P. a Delaware limited partnership Realty Income Texas Properties, Inc. a Delaware...

                          Exhibit 21.1
                          ============



Subsidiaries of the Company as of January 1, 1998
-------------------------------------------------

Realty Income Texas Properties, L.P. 
  a Delaware limited partnership

Realty Income Texas Properties, Inc.
  a Delaware corporation







































                                                         Page 1