BANYAN STRATEGIC REALTY TRUST
8-K, 1999-01-15
REAL ESTATE INVESTMENT TRUSTS
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                    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):  January 6, 1999




                       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)     



150 South Wacker Drive, Suite 2900, Chicago, IL               60606      
(Address of principal executive offices)                    (Zip Code)   



Registrant's telephone number, including area code   (312)553-9800 



This document consists of 4 pages.
















                                   - 1 -


<PAGE>


ITEM 5.     OTHER INFORMATION

      On January 6, 1999, the Trust issued a Press Release, a copy of which
is attached hereto as Exhibit (99.1) 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 (99.1)         Press Release dated January 6, 1999




















































                                   - 2 -


<PAGE>


                                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:  January 15, 1999            BANYAN STRATEGIC REALTY TRUST
                                         (Registrant)




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

















































                                   - 3 -

EXHIBIT (99.1)
- --------------


AT THE TRUST:     AT THE FINANCIAL RELATIONS BOARD:

Karen Dickelman   Tony Ebersole    Laura Kuhlmann    Georgeanne Palffy 
Investor          General Info.    Media Inquiries   Analyst Inquiries
Relations         312 640-6728     312 640-6727      312 640-6768
312 683-3671
www.banyanreit.com
- ------------------


FOR IMMEDIATE RELEASE 
WEDNESDAY, JANUARY 6, 1999


                  BANYAN STRATEGIC REALTY TRUST DECLARES
                   FOURTH QUARTER 1998 CASH DISTRIBUTION
                  --------------------------------------


CHICAGO, JANUARY 6, 1999 -- BANYAN STRATEGIC REALTY TRUST (Nasdaq:BSRTS)
today declared a quarterly cash distribution of 12 cents per share for the
fourth quarter ended December 31, 1998.  The distribution is payable
February 22, 1999, to shareholders of record as of January 22, 1999.

Banyan Strategic Realty Trust is a equity real estate investment trust
(REIT) with a portfolio that includes primarily flex/industrial and
suburban office buildings, as well as retail and residential properties. 
The Trust's current portfolio includes 32 properties totaling 3.7 million
net rentable square feet and 864 apartment units.  The Trust currently has
13,389,846 shares of beneficial interest outstanding.

See Banyan's Website at http://banyanreit.com for additional company
information.

Further information regarding Banyan can also be found free of charge via
fax by dialing 1-800-PRO-INFO and enter "BSRTS."


















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