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):  October 16, 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 October 16, 2002, the Trust issued a Press Release a copy of which
is attached hereto as exhibit (99.25) 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 (99.25)        Press Release dated October 16, 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:   October 16, 2002          BANYAN STRATEGIC REALTY TRUST
                                  (Registrant)




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
















































                                 - 3 -

EX-99.25

EXHIBIT 99.25
- -------------




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, OCTOBER 16, 2002



             BANYAN STRATEGIC REALTY TRUST CLOSES SALE OF
               NORTHLAKE TOWER FESTIVAL SHOPPING CENTER



OAK BROOK, ILLINOIS - OCTOBER 16, 2002 - BANYAN STRATEGIC REALTY TRUST
(OTCBB:  BSRTS) announced today the completion of the sale of its last
remaining real estate asset - The Northlake Tower Festival Shopping Center
in Atlanta, Georgia - to Northlake Festival, LLC for a gross purchase price
of $20.4 million.  Northlake Tower Festival Shopping Center is a 322,000
square foot power center on 38 acres located in suburban Atlanta.  It is
currently ninety-seven percent (97%) leased to forty-nine tenants
including: Toys R-Us, Office Max, PetSmart, Haverty's, AMC Theaters and
Bally Total Fitness.

Upon closing, Banyan credited to the purchaser the outstanding balance on
the first mortgage loan ($16.73 million), which the purchaser has assumed.
Banyan also paid $0.43 million in real estate commissions, closing costs,
prorations and transaction expenses, resulting in net proceeds of $3.24
million ($0.21 per share).

L.G. Schafran, Interim President, Chairman and CEO of Banyan, commenting
upon the Northlake transaction, said:  "We are pleased to announce the
closing of our final real estate asset, completing within a span of less
than twenty-two months the disposition portion of our Plan of Termination
and Liquidation, adopted in January of 2001.  We can now direct all of our
attention to a resolution of the Levine litigation, which we hope to
accomplish not later than the end of the second quarter of 2003.  Further,
assuming we are successful in obtaining the no-action relief we have sought
from the Securities and Exchange Commission, we are poised and ready to
dissolve the Trust on December 31, 2002, and unless the Levine litigation
is resolved by that time, to transfer all remaining liabilities and assets
into a liquidating trust on that date.  If the Levine litigation has been
resolved by December 31, 2002, we expect to complete our dissolution and
make a final distribution of all cash, without the necessity of a
liquidating trust."

Banyan emphasized that once it transfers all of its assets and liabilities
into a liquidating trust, which is expected to occur on December 31, 2002,
there will be no further trading in Banyan's shares of beneficial interest.

In order to fund the litigation and other operations of the liquidating
trust and to maintain adequate reserves, Banyan indicated that there would
be no distribution to shareholders of any portion of the net proceeds of
the Northlake disposition.  Instead, all funds remaining on hand at the
completion of the litigation and conclusion of the liquidating trust will
be distributed to shareholders at that time.



                                -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,
May 1, 2002 and October 15, 2002.  Banyan intends to dissolve on
December 31, 2002 and, on that date, to transfer all of its remaining
assets and liabilities into a liquidating trust.  There will be no further
trading of Banyan's shares of beneficial interest after the formation of
and transfer to the liquidating trust.  Since adopting the Plan of
Termination and Liquidation, Banyan has made liquidating distributions
totaling $5.45 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 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 June 30, 2002 which was filed with
the Securities and Exchange Commission on August 9, 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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