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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000899681-09-000729.txt : 20091019
<SEC-HEADER>0000899681-09-000729.hdr.sgml : 20091019
<ACCEPTANCE-DATETIME>20091019142313
ACCESSION NUMBER:		0000899681-09-000729
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20091019
DATE AS OF CHANGE:		20091019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CEDAR SHOPPING CENTERS INC
		CENTRAL INDEX KEY:			0000761648
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				421241468
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-155411
		FILM NUMBER:		091125673

	BUSINESS ADDRESS:	
		STREET 1:		44 SOUTH BAYLES AVENUE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050
		BUSINESS PHONE:		5167676492

	MAIL ADDRESS:	
		STREET 1:		44 SOUTH BAYLES AVENUE
		CITY:			PORT WASHINGTON
		STATE:			NY
		ZIP:			11050

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CEDAR INCOME FUND LTD /MD/
		DATE OF NAME CHANGE:	20001128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNI INVEST USA LTD
		DATE OF NAME CHANGE:	20000407

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CEDAR INCOME FUND LTD
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B2
<SEQUENCE>1
<FILENAME>cedar-424b2_101909.htm
<TEXT>
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            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right"><font size="2">Filed Pursuant to Rule 424(b)(2)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: right"><font size="2">Registration No. 333-155411</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><u><font size="2">PROSPECTUS SUPPLEMENT NO._3</font></u></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">(To Prospectus Supplement dated September 30, 2009)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><font size="2">(and To Prospectus dated December 1, 2008)</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: center"><b><font size="5">CEDAR SHOPPING CENTERS, INC.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: center"><b><font size="3">UP TO $2,000,000 OF SHARES OF COMMON STOCK</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">Pursuant to this prospectus supplement, the accompanying prospectus supplement and the accompanying prospectus, we are offering up to $2,000,000 of shares of common stock to YA Global Master SPV Ltd., or YA Global, pursuant to our previously announced Standby Equity Purchase Agreement, or the Purchase Agreement, dated September 21, 2009, with YA Global. The shares will be purchased
            at a price based on the formula described in the third paragraph of this prospectus supplement. The total purchase price for the shares is $2,000,000. These shares are being issued as part of the commitment by YA Global to purchase, at our option, from time to time, up to $30,000,000 of common stock pursuant to the Purchase Agreement as described in Prospectus Supplement No. 1. We will receive proceeds from the sale of these shares of approximately $1,968,500, after deducting the
            $6,500 balance of our estimated expenses of the offering, not including a placement agent fee of 1.25% of the amount advanced that will be paid to Raymond James &amp; Associates, Inc., a member of FINRA/SIPC.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">In addition to our issuance of common stock to YA Global pursuant to the Purchase Agreement, this prospectus supplement, the accompanying prospectus supplement and the accompanying prospectus also cover the sale of those shares by YA Global to the public. YA Global may be deemed to be an &ldquo;underwriter&rdquo; within the meaning of the Securities Act of 1933, as
            amended.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">Unless YA Global and the Company otherwise agree, the Company will issue $200,000 of shares of common stock on each of 10 consecutive trading days, based on the previous trading day&rsquo;s dollar volume-weighted average price of the common stock. Since this is a so-called Big Advance, the Company has the right under certain conditions, to repay the then outstanding balance of the
            Big Advance without the requirement to deliver shares of common stock to YA Global. In accordance with the Purchase Agreement, the Company has established a reserve consisting of 446,814 shares of common stock and the Company does not have any obligation to issue shares of common stock in excess of this amount. Our common stock is listed on The New York Stock Exchange under the symbol &ldquo;CDR.&rdquo; The last reported sale price of our common stock on The New York Stock Exchange
            on October 16, 2009 was $6.13 per share.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><font size="2">Investing in our common stock involves risks. See the risk factors beginning on page S-2 of the accompanying prospectus supplement, referenced on page 3 of the accompanying prospectus and beginning on page 10 of the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission to read about the risks you should
            consider before purchasing our common stock.</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-INDENT: 0.5in; TEXT-ALIGN: left"><b><font size="2">Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement, the accompanying prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: center"><font size="2">The date of this prospectus supplement is October 19, 2009</font></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
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