<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7 )*
---------
CLEVETRUST REALTY INVESTORS
- --------------------------------------------------------------------------------
(Name of Issuer)
Shares of Beneficial Interest $1.00 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
186780-10-2
--------------------------------------------------------
(CUSIP Number)
Howard Amster, 25812 Fairmount Blvd, Beachwood, Ohio 44122, (216) 595-1047
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 10, 1997
--------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box / /.
Check the following box if a fee is being paid with this statement / /. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
SCHEDULE 13D
AMENDMENT NO. 7
CUSIP No. 186780-10-2 Page 2 of 4 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
HOWARD AMSTER
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 778,468
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,000
--------------------------------------------------
(9) Sole Dispositive
Power 778,468
--------------------------------------------------
(10) Shared Dispositive
Power 10,000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
788,468
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
15.35%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
AMENDMENT NO. 7
CUSIP No. 186780-10-2 Page 3 of 4 Pages
--------- --- ---
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
TAMRA F. GOULD
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Source of Funds*
PF
- -------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) / /
- -------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (7) Sole Voting
Beneficially Owned Power 400
by Each Reporting --------------------------------------------------
Person With (8) Shared Voting
Power 10,000
--------------------------------------------------
(9) Sole Dispositive
Power 400
--------------------------------------------------
(10) Shared Dispositive
Power 10,000
- -------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
10,400
- -------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares*
/X/
- -------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
.2%
- -------------------------------------------------------------------------------
(14) Type of Reporting Person*
IN CO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Schedule 13D
Amendment No. 7
CUSIP No. 186780-10-2 Page 4 of 4 Pages
There are no changes to the Schedule 13D, as amended except as follows:
Item 5. Interest in Securities of the Issuer
(a)/(b) The aggregate amount of the shares of the Issuer owned by the
Reporting Persons is 788,868 shares or 15.36% of the outstanding shares.
Howard Amster in his Individual Retirement Account beneficially owns 778,468
shares or 15.16% of the outstanding shares.
Tamra F. Gould in her 100% owned corporation beneficially owns 400 shares or
.00% of the outstanding shares.
Howard Amster and Tamra F. Gould jointly own 10,000 shares or .2% of the
outstanding shares.
Other than the shares jointly owned, Tamra F. Gould disclaims beneficial
ownership of all shares owned by Howard Amster.
Other than the shares jointly owned, Howard Amster disclaims beneficial
ownership of all shares owned by Tamra F. Gould.
(c) On June 10, 1997, Tamra F. Gould, a Reporting Person, made a donation
of 131,400 shares of Clevetrust Realty Investors to the Jewish Community
Federation of Cleveland.
On June 10, 1997, Howard Amster, a Reporting Person, made a donation
of 175,500 shares of Clevetrust Realty Investors to the Howard Amster and
Tamra Gould Charitable Remainder Unitrust.
On June 10, 1997, Howard Amster caused Amster Trading Company, a
corporation owned by him, to donate 56,412 shares of Clevetrust Realty
Investors to the Amster Trading Company Charitable Remainder Unitrust.
Signature /s/ Howard Amster
---------------------
Howard Amster
Date: June 12, 1997 /s/ Tamra F. Gould
---------------------
Tamra F. Gould
