8-K

                  SECURITIES AND EXCHANGE COMMISSION

                        Washington, D.C. 20549



                               FORM 8-K

                            CURRENT REPORT



                Pursuant to Section 13 or 15(d) of the
                    Securities Exchange Act of 1934



  Date of Report (Date of earliest event reported): February 21, 2002




                     BANYAN STRATEGIC REALTY TRUST
        ------------------------------------------------------
        (Exact name of Registrant as specified in its charter)




  Massachusetts                 0-15465             36-3375345
- ------------------         ----------------       ----------------
(State of or other         (Commission File       (I.R.S. Employer
 jurisdiction of                Number)            Identification
 incorporation)                                       Number)




2625 Butterfield Road, Suite 101 N
Oak Brook, Illinois                                     60523
- ----------------------------------------              ----------
(Address of principal executive offices)              (Zip Code)




Registrant's telephone number, including area code  (630)218-7250





This document consists of 3 pages.

Exhibit index is located on page 2.











                                 - 1 -





ITEM 5.    OTHER INFORMATION

     On February 21, 2002, the Trust issued a Press Release announcing
that it has signed a contract to sell its 6901 Riverport Drive for a gross
purchase price of $6.05 million.  The Trust also announced that it has been
notified by Nasdaq that because the Trust's shares of beneficial interest
have traded below the minimum of $1.00 per share for the last thirty
consecutive trading days, the Trust now faces delisting if the bid price of
the Trust's shares of beneficial interest does not close at $1.00 per share
for ten or more consecutive trading days between now and May 15, 2002.  A
copy of press release is attached hereto as exhibit (99.2) and is
incorporated herein by reference.



ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.

     (a)   Financial Statements.  Not applicable.

     (b)   Pro Forma Financial Information.  Not applicable.

     (c)   Exhibits

           EXHIBIT NUMBER         DESCRIPTION

           Exhibit (99.2)         Press Release dated February 21, 2002












































                                 - 2 -





                              SIGNATURES



     Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.




Date: February 22, 2002           BANYAN STRATEGIC REALTY TRUST
                                       (Registrant)




                                  By:  /S/ JOEL L. TEGLIA
                                       -------------------------
                                       Joel L. Teglia
                                       Executive Vice President,
                                       Chief Financial and
                                       Accounting Officer















































                                 - 3 -

EX-99.2

EXHIBIT 99.2
- -------------


AT THE TRUST
Robert G. Higgins                      Investor Relations
Vice President, General Counsel        L.G. Schafran - Chairman and
630-218-7255                           Interim CEO/President
bhiggins@banyanreit.com                630-218-7250
                                       ir@banyanreit.com


FOR IMMEDIATE RELEASE
THURSDAY, FEBRUARY 21, 2001



         BANYAN STRATEGIC REALTY TRUST SIGNS CONTRACT TO SELL
                         6901 RIVERPORT DRIVE

OAK BROOK, ILLINOIS - FEBRUARY 21, 2002 - Banyan Strategic Realty Trust
(Nasdaq:  BSRTS) today announced that it has signed a contract to sell its
Louisville, Kentucky property, known as 6901 Riverport Drive, for a gross
purchase price of $6.05 million.  The purchaser is an entity to be formed
by Daniel Smith of Charlotte, North Carolina.  Entities owned and/or
controlled by Mr. Smith previously managed properties owned by the Trust in
Florida, and jointly owned with the Trust the Woodcrest property in
Tallahassee, Florida.

The Riverport property is a 322,000 square foot bulk warehouse facility
located in the Riverport Industrial area of suburban Louisville.  It is
currently 55% leased by The Apparel Group, Ltd., whose lease expires in
July of 2004. The remaining 146,000 square feet are unoccupied.

The purchase contract contains a 60-day inspection period during which the
purchaser can conduct various tests and investigations of the property and
the surrounding market.  During the inspection period the purchaser may
terminate the contract without penalty.

The contract is also subject to the ability of the purchaser to obtain,
within sixty days, suitable financing (as determined in the purchaser's
sole discretion) for the contemplated purchase.  The purchaser has the
right to attempt to assume the existing industrial revenue bond financing
or to seek new financing.  If the purchaser cannot obtain suitable
financing within sixty days, the purchaser can terminate the contract
without penalty.  Closing must take place within sixty days of the end of
the inspection period (i.e. on or prior to June 21, 2002).

If the sale to Mr. Smith is consummated, the Trust expects to utilize the
proceeds to retire (or, in the event of an assumption, credit to the
purchaser) the existing Riverport debt, ($3.4 million) and to pay real
estate commissions, closing costs and prorations (approximately $0.5
million), thus realizing net proceeds of approximately $2.15 million, or
approximately thirteen cents per share.

The Trust added that it intends to continue its policy of making
liquidating distributions to its shareholders when, and as often as,
conditions warrant, including as soon as practical after a closing.

In other news, the Trust announced that it has been notified by Nasdaq that
because the Trust's shares of beneficial interest have traded below the
minimum of $1.00 per share for the last thirty consecutive trading days,
the Trust now faces delisting if the bid price of the Trust's shares of
beneficial interest does not close at $1.00 or more per share for ten or
more consecutive trading days between now and May 15, 2002.  The Trust's
shares would be delisted, subject to the Trust's right of appeal.  The
Trust is currently looking into alternatives in order to provide a market
for the exchange of its shares.


                                -more-





BANYAN STRATEGIC REALTY TRUST
Add 1


Banyan Strategic Realty Trust is an equity Real Estate Investment Trust
(REIT) that, on January 5, 2001, adopted a Plan of Termination and
Liquidation.  On May 17, 2001, the Trust sold approximately 85% of its
portfolio in a single transaction and now owns interests in three (3) real
estate properties located in Atlanta, Georgia; Huntsville, Alabama; and
Louisville, Kentucky.  As of this date, the Trust has 15,496,806 shares of
beneficial interest outstanding.



Except for the historical information contained herein, certain matters
discussed in this release are forward-looking statements, the achievement
of which involve risks and uncertainties such as the sale of the Trust's
remaining properties, the amount of the remaining liquidating
distributions, the outcome of pending litigation and other risks and
uncertainties that are detailed from time to time in the Trust's reports
filed with the Securities and Exchange Commission, including the report on
Form 10-K for the year ended December 31, 2000 and in the "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
section which was included in the Trust's Form 10-Q for the quarter ended
September 30, 2001, which was filed with the Securities and Exchange
Commission on November 14, 2001.  Without limitation, the foregoing words
such as "anticipates", "expects", "intends", "plans", and similar
expressions are intended to identify forward-looking statements.








          See Banyan's Website at http://www.banyanreit.com.

































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