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):  May 8, 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.

















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ITEM 5.   OTHER INFORMATION

     On May 8, 2002, the Trust issued a Press Release a copy of which is
attached hereto as exhibit (99.9) 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 (99.9)         Press Release dated May 8, 2002



















































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                              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: May 8, 2002                 BANYAN STRATEGIC REALTY TRUST
                                  (Registrant)




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
















































                                 - 3 -

EX-99.9

EXHIBIT 99.9
- ------------




AT THE TRUST
Robert G. Higgins                      Investor Relations
First 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
WEDNESDAY, MAY 8, 2002



                 BANYAN STRATEGIC REALTY TRUST REPORTS
                      FIRST QUARTER 2002 RESULTS


CHICAGO - MAY 8, 2002  - BANYAN STRATEGIC REALTY TRUST (Nasdaq: BSRTS)
announced today that for the quarter ended March 31, 2002 its Net Assets in
Liquidation decreased by approximately $0.3 million, from approximately
$12.4 million at December 31, 2001, to approximately $12.1 million at
March 31, 2002. The decrease was due primarily to an operating loss of $0.3
million and minority interest of $0.1 million, offset by $0.1 million of
interest income on cash and cash equivalents.

For the three months ended March 31, 2001, the Trust reported that Net
Assets in Liquidation increased by approximately $1.2 million, from
approximately $64.2 million at December 31, 2000, to approximately $65.4
million at March 31, 2001.  These results reflected the net operations of
the Trust prior to the sale of 27 of its 30 properties on May 17, 2001, and
are not comparable to the results for the quarter ended March 31, 2002, at
which time the Trust owned only the three remaining properties.


STATUS OF REAL ESTATE ASSET SALES
- ---------------------------------

As previously announced, the Trust sold University Square Business Center
on April 1, 2002 and 6901 Riverport Drive on May 1, 2002.  By reason of the
receipt of proceeds from the sale of these properties, the Trust also
announced that it will make an interim liquidating distribution of $0.30
per share on May 31, 2002, to shareholders of record as of May 16, 2002.

Furthermore, on May 2, 2002, the Trust announced that it had signed a
contract to sell its Tucker (Atlanta), Georgia property, known as Northlake
Tower Festival Mall, for a gross purchase price of $20.5 million.  If the
transaction closes at the contract price, the Trust expects to realize net
proceeds of approximately $3.35 million, or approximately $0.215 per share,
after crediting the Purchaser the amount of the existing Northlake debt
(approximately $16.8 million) and paying related closing costs and
prorations (expected to be approximately $0.35 million).











                                -MORE-





BANYAN STRATEGIC REALTY TRUST
ADD 1



NASDAQ DELISTING
- ----------------

Banyan previously announced that on February 14, 2002, it was notified by
Nasdaq that because the minimum bid price for Banyan's shares of beneficial
interest closed below $1.00 per share for the preceding thirty consecutive
trading days, Banyan's shares faced delisting.  Nasdaq has advised that the
bid price must close at $1.00 or more per share for ten or more consecutive
trading days, between the notification date and May 15, 2002, for delisting
to be avoided.  If this criterion is not met, the shares would be delisted,
subject to Banyan's right of appeal.  Since February 14, 2002, the closing
price of Banyan's shares has averaged $0.70 per share and it is not
anticipated that the share price will exceed $1.00 before May 15, 2002.
Banyan is currently looking into alternatives in order to provide a
continued market for the exchange of its shares.

Banyan Strategic Realty Trust is an equity Real Estate Investment Trust
(REIT) that  adopted a Plan of Termination and Liquidation on January 5,
2001.  On May 17, 2001, the Trust sold approximately 85% of its portfolio
in a single transaction. Additional properties were sold on April 1, 2002
and May 1, 2002.  Banyan now owns a leasehold interest in one (1) real
estate property located in Atlanta, Georgia, representing approximately 9%
of its original portfolio. Since adopting the Plan of Termination and
Liquidation, Banyan has made liquidating distributions totaling $4.95 per
share. On May 1, 2002, Banyan announced that an additional distribution of
$0.30 per share will be made on May 31, 2002 to shareholders of record on
May 16, 2002, thus increasing the total liquidating distributions to $5.25
per share.  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 property, 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, 2001 which was filed with the Securities and
Exchange Commission on March 21, 2002.  The "Management's Discussion and
Analysis of Financial Condition and Results of Operations" section was
included in our Form 10-Q for the quarter ended March 31, 2002 which was
filed with the Securities and Exchange Commission on May 6, 2002. 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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