UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

                                Form 12b-25

                        NOTIFICATION OF LATE FILING


         0-15465                                          066 83M 102  
    SEC FILE NUMBER                                      CUSIP NUMBER  



(x) FORM 10-K  ( ) FORM 20-F  ( ) FORM 11-K  ( ) FORM 10-Q  ( ) FORM N-SAR


                FOR THE PERIOD ENDED:    DECEMBER 31, 1996


If the notification relates to a portion of the filing checked above,
identify the items to which the notification relates:   N/A
                                                       --------------------


PART I - REGISTRANT INFORMATION

Full Name of Registrant:    BANYAN STRATEGIC REALTY TRUST

Former Name if Applicable:  Not Applicable

Address of Principal Executive Offices:   150 South Wacker Drive,        
                                          Suite 2900, Chicago, IL 60606


PART II - RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or
expense and the Registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed.  (Check box if appropriate)

( ) (a) The reasons described in reasonable detail in Part III of this
        form could not be eliminated without unreasonable effort or expense;

(X) (b) The subject annual report, semi-annual report, transition report
        on Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, 
        will be filed on or before the fifteenth calendar day following 
        the prescribed due date; or the subject quarterly report of 
        transition report on Form 10-Q, or portion thereof will be filed 
        on or before the fifth calendar day following the prescribed 
        due date; and

( ) (c) The accountant's statement or other exhibit required by 
        Rule 12b-25(c) has been attached if applicable.







PART III - NARRATIVE

State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period.

The Annual Report on Form 10-K of Banyan Strategic Realty Trust (the
"Registrant") will not be completed by March 31, 1997 the last day for a
timely filing of such Annual Report for the period ended December 31, 1996.

Additional time is required in order to enable the Registrant to file a
complete and accurate report without unreasonable effort or expense. The
Registrant is awaiting finalization of certain information in order for
their auditors to complete their year end procedures. The Form 10-K will be
filed on or before April 15, 1997 in accordance with Rule 12b-25(b).



PART IV - OTHER INFORMATION

(1)     Name and telephone number of person to contact in regard to this
        notification:

        Joel L. Teglia     (312) 553-9800

(2)     Have all other periodic reports under Section 13 or 15(e) of the
        Securities Exchange Act of 1934 or Section 30 of the Investment 
        Company Act of 1940 during the preceding 12 months (or for such 
        shorter period that the Registrant was required to file such 
        reports) been filed?  If answer is no, identify report(s).

        ( X ) YES              (   ) NO

(3)     Is it anticipated that any significant change in results of
        operations from the corresponding period for the last fiscal 
        year will be reflected by the earnings statements to be 
        included in the subject report or portion thereof?

        (   ) YES              ( X ) NO

        If so, attach an explanation of the anticipated change, both
        narratively and quantitatively, and, if appropriate, state 
        the reasons why a reasonable estimate of the results cannot 
        be made.





                       BANYAN STRATEGIC REALTY TRUST
          (Exact name of Registrant as specified in its charter)


has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.



Date:  March 31, 1997         By:/s/ Joel L. Teglia
                                 -----------------------------------------
                                 Joel L. Teglia, Vice President and
                                 Chief Financial Officer