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 15, 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 May 15, 2002, the Trust issued a Press Release a copy of which is
attached hereto as exhibit (99.10) 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 (99.10)        Press Release dated May 15, 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 17, 2002                BANYAN STRATEGIC REALTY TRUST
                                  (Registrant)




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
















































                                 - 3 -

EX-99.10

EXHIBIT 99.10
- -------------



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 15, 2002




      BANYAN STRATEGIC REALTY TRUST SETTLES OUTSTANDING CONTRACT
               DISPUTES WITH DENHOLTZ FOR $300 THOUSAND;
                OBTAINS $1.2 MILLION IN ESCROWED FUNDS


OAK BROOK, ILLINOIS - MAY 15, 2002 - BANYAN STRATEGIC REALTY TRUST
(Nasdaq: BSRTS) announced today that it has entered into a series of
settlement agreements with Denholtz Management Corp. and other parties, to
resolve all contractual disputes among the various parties arising from the
sale of most of Banyan's portfolio to Denholtz in May of 2001.

Pursuant to the parties' purchase and sale contract, at the closing last
May, $1.5 million of sales proceeds were placed in escrow to provide
assurance to Denholtz that funds would be available during Banyan's
liquidation process to satisfy post-closing claims and adjustments.  During
the course of the year since the closing, certain disputes have arisen
involving certain closing and post-closing adjustments.

The settlement agreements provide, in part, that Banyan will pay to, or for
the benefit of, Denholtz, $296,147 in full settlement of all claims of
Denholtz.  The balance of the escrowed funds (approximately $1.2 million
plus interest) have been released to Banyan.  Banyan and Denholtz have
exchanged mutual releases of any further liability under their purchase and
sale contract.

The mutual releases specifically exclude two promissory notes, each in the
original principal amount of $1.5 million, given by Denholtz to Banyan last
May as part of the $185.25 million purchase price for the portfolio.  The
notes are due on June 30, 2002.

Banyan noted that prior to this settlement, the principal balances due on
the two notes were $1.5 million and $764,314.18, respectively, and that all
required interest payments to date have been timely made.  Banyan and
Denholtz effected the settlement of their disputes by applying escrowed
funds to reduce the principal balance due on one of the promissory notes
from $764,314.18 to $483,017.18.  Banyan also directly paid a $14,850 claim
brought by a third party against Banyan and Denholtz.  The balance of the
escrowed funds was then released to Banyan.











                                -MORE-





BANYAN STRATEGIC REALTY
ADD 1



L.G. Schafran, Interim President, Chairman and CEO of Banyan, commenting
upon the settlement agreement, said:  "We are very pleased to reach these
agreements with Denholtz, settling our outstanding contractual disputes and
leaving slightly less than $2 million left to be paid on the notes we
accepted at the closing last May.  This settlement allows us to realize a
substantial portion of the previously escrowed funds, and furthers our Plan
of Termination and Liquidation.  We will continue our policy of making
liquidating distributions when, and as often as, conditions warrant."

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.  Other 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 as
of 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.  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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