<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/rega/onekfiler" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>1-K</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0002072338</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <shellCompanyFlag>N</shellCompanyFlag>
        <successorFilingFlag>N</successorFilingFlag>
      </flags>
      <reportingPeriod>12-31-2025</reportingPeriod>
    </filerInfo>
  </headerData>
  <formData>
    <item1>
      <formIndication>Annual Report</formIndication>
      <fiscalYearEnd>12-31-2025</fiscalYearEnd>
      <street1>257 East Main Street</street1>
      <street2>Suite 200</street2>
      <city>Barrington</city>
      <stateOrCountry>IL</stateOrCountry>
      <zipCode>60010</zipCode>
      <phoneNumber>847-277-9930</phoneNumber>
      <issuedSecuritiesTitle>8% bonds</issuedSecuritiesTitle>
    </item1>
    <item1Info>
      <issuerName>GK Investment Holdings III LLC</issuerName>
      <cik>0002072338</cik>
      <jurisdictionOrganization>DE</jurisdictionOrganization>
      <irsNum>33-3781161</irsNum>
    </item1Info>
    <item2>
      <regArule257>true</regArule257>
    </item2>
  </formData>
</edgarSubmission>