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):  July 11, 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 July 11, 2002, the Trust issued a Press Release a copy of which is
attached hereto as exhibit (99.15) 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 (99.15)        Press Release dated July 11, 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: July 15, 2002               BANYAN STRATEGIC REALTY TRUST
                                  (Registrant)




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
















































                                 - 3 -

EX-99.15

EXHIBIT 99.15
- -------------




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
Thursday, July 11, 2002




         NASDAQ DENIES BANYAN STRATEGIC REALTY TRUST'S APPEAL;
                SHARES TO BE DELISTED ON JULY 12, 2002


OAK BROOK, ILLINOIS - JULY 11, 2002 - BANYAN STRATEGIC REALTY TRUST
(Nasdaq: BSRTS) announced today that it has been notified by
representatives of the Nasdaq Listing Qualifications Panel, that Banyan's
June 20, 2002 appeal of a determination to delist Banyan's shares of
beneficial interest has been denied.  Accordingly, the Trust will consent
to a delisting of its shares as of the opening of the market on July 12,
2002.

     As previously announced, Banyan was first notified on February 15,
2002, that it would be subject to delisting if the closing price of its
shares did not exceed the $1.00 minimum bid price for ten consecutive
trading days during the 90-day period ending on May 15, 2002.  In May,
Nasdaq notified Banyan of the imminent delisting.

     Banyan appealed on the basis that its diminished stock price was not
unintended, but rather was in keeping with its Plan of Termination and
Liquidation, adopted in January of 2001.  Banyan asserted that the reduced
stock price directly related to $5.25 per share in liquidating
distributions made since May of 2001, rather than any other diminution in
value of the business. Nasdaq offered to transfer Banyan's listing to its
Small Cap Market, but Banyan has declined, because of the $45,000 cost
involved in a transfer of the listing.

     Banyan anticipates that its shares may now be quoted on the Over the
Counter Bulletin Board ("OTCBB"), but there can be no assurance that a
market for these shares will develop.  Investors do not have direct access
to the OTCBB and must contact a broker/dealer to trade OTCBB securities.
Further information about the OTCBB is available at www.otcbb.com.

     Banyan Interim President, CEO and Chairman, L.G. Schafran, commented:
"We are disappointed that the Nasdaq Panel did not elect to adopt the
exception to its rules that we suggested would be appropriate in a
liquidation situation.  We continue to believe that the Nasdaq rules are
deficient, because they fail to provide continual listing for a company,
like ours, that adopts and then executes an orderly plan of liquidation.
We encourage our shareholders and potential investors to trade our shares
on the Over the Counter Bulletin Board."







                                -more-





BANYAN STRATEGIC REALTY TRUST
ADD 1




     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. 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.  This property is subject to a contract of sale,
currently scheduled to close on September 17, 2002.  Since adopting the
Plan of Termination and Liquidation, Banyan has made liquidating
distributions totaling $5.25 per share.  An additional distribution of
$0.20 per share is scheduled for July 15, 2002 to shareholders of record as
of July 1, 2002.  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.  Please see also the "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
section which 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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