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):  December 9, 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 December 9, 2002, the Trust issued a Press Release a copy of which
is attached hereto as exhibit (99.27) 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 (99.27)        Press Release dated December 9, 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:   December 10, 2002         BANYAN STRATEGIC REALTY TRUST
                                  (Registrant)




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
















































                                 - 3 -

EX-99.27

EXHIBIT 99.27
- -------------




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
MONDAY, DECEMBER 9, 2002

        BANYAN STRATEGIC REALTY TRUST ANNOUNCES DISSOLUTION AND
             TERMINATION TO TAKE EFFECT ON JANUARY 3, 2003

OAK BROOK, ILLINOIS - DECEMBER 9, 2002 - BANYAN STRATEGIC REALTY TRUST
(OTCBB: BSRTS) announced today that its Board of Trustees has resolved to
terminate the Trust effective January 3, 2003.  The termination and
dissolution will be accomplished by the transfer of all of Banyan's
remaining assets and liabilities into the newly-formed BSRT Liquidating
Trust.  The Board appointed current First Vice President and General
Counsel Robert G. Higgins as the Primary Liquidating Trustee and current
Interim President and CEO L. G. Schafran as the Secondary Liquidating
Trustee.  The Primary Liquidating Trustee will be responsible for the
operation of the liquidating trust including the day-to-day administrative
tasks, while the Secondary Liquidating Trustee will act in an advisory
role.

Banyan adopted a Plan of Termination and Liquidation on January 5, 2001.
The Plan called for the liquidation of all of Banyan's assets as soon as
practical and provided that a liquidating trust could be established if, in
the judgment of Banyan's Board of Trustees, all liabilities could not be
discharged or adequately provided for within a two-year period.  Banyan has
sold its entire real estate portfolio, realizing more than $250 million in
gross proceeds, and has, to date, made liquidating distributions totaling
$5.45 per share to its shareholders.  However, Banyan remains involved in a
lawsuit with its suspended President, Leonard G. Levine, that has been
pending since October of 2000.  Banyan announced in October of 2002 that no
further distributions would be made to its shareholders until the
litigation with Mr. Levine was completed.  No trial date is currently
scheduled, but the Trust believes that the case will be tried during the
second quarter of 2003.  A motion to extend the current January 31, 2003
discovery cutoff date has been filed by Mr. Levine's attorneys.  If this
motion is granted, the trial date could be further delayed.

Banyan's distribution of assets and liabilities into the BSRT Liquidating
Trust on January 3, 2003 will mark the termination of Banyan Strategic
Realty Trust.  Except for certain of Banyan's present and former employees
who have opted to forfeit shares pledged to secure non-recourse loans, each






BANYAN STRATEGIC REALTY TRUST
ADD 1




of Banyan's shareholders will automatically receive an uncertificated
interest in the BSRT Liquidating Trust, equal to their pro-rata ownership
interest in Banyan.  The Liquidating Trust interests will not be listed on
any stock exchange and will not be exchangeable or transferable, except by
death or operation of law. The last day of trading on the Over the Counter
Bulletin Board in Banyan's shares of beneficial interest will be January 2,
2003.

The transfer into the Liquidating Trust constitutes a distribution, in
kind, to Banyan's shareholders, the effect of which must be reported by
Banyan's shareholders on their individual income tax returns for the year
2003 (filed in the spring of 2004).  Since Banyan will no longer be in
existence, the BSRT Liquidating Trust will fulfill Banyan's obligation to
cause Form 1099's to be issued to Banyan's shareholders for the calendar
year 2002 and for the distribution into the liquidating trust in January of
2003.  The 2002 Form 1099 will reflect each shareholder's allocated portion
of the liquidating distributions made in 2002.  The 2003 1099 will reflect
each shareholder's allocated portion of the distribution into the
liquidating trust.

In other news, Banyan announced that its Board of Trustees has awarded
bonus compensation of $400,000.00 to Interim President and CEO L.G.
Schafran in recognition of his efforts in and contribution to the success
of Banyan's liquidation, especially in the closing of the Denholtz
transaction ($185.25 million) in May of 2001.  Mr. Schafran became the
company's chief executive officer upon the suspension of Mr. Levine in
August of 2000, and has served in that capacity, as well as serving as
Chairman of the Board of Trustees, since then. Three-quarters of Mr.
Schafran's bonus compensation had previously been accrued for in the
Trust's financial statements as of September 30, 2002, under the line item
"Accrued Severance and Termination Costs."

Banyan also announced that it has withdrawn its request for a no-action
letter from the Securities and Exchange Commission ("SEC").  Banyan
submitted its original request in late August.  After engaging in a
discussion with representatives of the SEC in early October, Banyan
provided additional information and a revised request on October 16.

Additional discussions were held on November 21, 2002, at the conclusion of
which Banyan's trustees determined that the request for no-action relief
should be withdrawn.  Commenting on the dialogue with the SEC, Banyan's
General Counsel, Robert G. Higgins, said:  "Banyan elected to withdraw its
request for no-action and to, instead, rely on the precedent of other
similar requests that have been granted, when it became apparent that the
SEC would have been unable to complete the necessary review process in the
time period required by Banyan.  We are confident that prior rulings in
very similar circumstances provide us with the guidance we need in this
instance.  We appreciate the time and efforts of the SEC, especially in
view of the myriad of other issues currently being considered by the
Commission."

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.  The remaining properties were sold on April 1,
2002, May 1, 2002 and October 16, 2002.  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.






BANYAN STRATEGIC REALTY TRUST
ADD 2




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 any
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 September 30, 2002 which was filed
with the Securities and Exchange Commission on November 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.