EXHIBIT 99.7
------------






AT THE COMPANY:  AT THE FINANCIAL RELATIONS BOARD:

Karen Dickelman  Dennis Waite       Laura Kuhlmann   Susan Steidle
Director of      General Inquiries  Media Inquiries  Analyst Inquiries
Investor         312 640-6674       312 640-6727     312 640-6774
Relations
312 683-3671


FOR IMMEDIATE RELEASE



      BANYAN STRATEGIC REALTY TRUST ANNOUNCES FOURTH-QUARTER 1997
 TOTAL REVENUES UP 50% TO $8.3 MILLION; FUNDS FROM OPERATIONS CLIMB TO
            15.5 CENTS PER SHARE VERSUS YEAR-AGO'S 7 CENTS


       For Full Year, Total Revenues Rise 35% to $28.8 Million;
   FFO Climbs 58% to 52 Cents Per Share from 35 Cents Year Earlier;
         Announces New Trading Symbol Effective March 2, 1998


CHICAGO, February 12, 1998 -- BANYAN STRATEGIC REALTY TRUST (Nasdaq: VLANS)
today reported substantially higher total revenues and funds from
operations for both its fourth quarter and its full year ended December 31,
1997.  Banyan also reported that its overall weighted occupancy level for
its 22 properties owned during 1997 averaged 95 percent versus 93 percent
for 1996.

Banyan also noted that it had acquired 10 properties in 1997, approximately
$59 million worth of real estate, adding some 688,600 square feet and 864
apartments to its investment portfolio.

FOURTH-QUARTER RESULTS

For its fourth quarter, total revenues were $8.2 million, up 50 percent
from the $5.5 million reported in the year-earlier's quarter.  Funds from
operations (FFO) for the fourth quarter totaled $2.0 million, or 15.5 cents
per share, against $756,000, or 7 cents per share, in the final quarter of
1996.  Net income for the quarter totaled $968,211, or 8 cents per share,
compared to a loss of $3,062,067, or a loss of 29 cents per share, in the
year-ago quarter.

FULL-YEAR RESULTS

For the full year, total revenues climbed to $28.8 million, up 35 percent
from 1996's $21.4 million.  FFO rose 58 percent to $5.8 million from $3.7
million in 1996.  On a per-share basis, FFO totaled 52 cents, up 49 percent
from the prior year's 35 cents.  Net income for 1997 was $3.5 million, or
32 cents per share, versus a loss of $1.8 million, or a loss of 17 cents
per share for 1996.



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BANYAN STRATEGIC REALTY TRUST



Banyan also reported that its portfolio properties at year-end 1997 totaled
2,876,600 square feet, up 27 percent from year-end 1996's 2,251,000 square
feet.  "Very importantly," noted Banyan President and Chief Executive
Officer, Leonard G. Levine, "our overall weighted occupancy rate improved
during the year, averaging 95 percent at December 31, 1997, against a year-
end 1996 level of 93 percent.  Additionally, our 'same store' property
revenues increased $1.2 million, or 7.2 percent, during 1997 from the
previous year."  Levine also pointed out that the company's total assets at
year-end 1997 were $159.6 million, up 37 percent from the year-ago's $116.5
million.  The Trust's net investment in real estate totaled $149.4 million
at year-end 1997, up 46 percent from $102.5 million at the end of 1996, and
70 percent above the $87.9 million for year-end 1995.

LOOKING AHEAD

"Banyan continues to be very well-positioned to enjoy ongoing revenue and
cash flow growth for both 1998 and 1999,"  Levine said.  "We expect to
acquire new real estate assets during 1998 in excess of those purchased
last year."  Barring unforeseen developments in the economy, Levine added,
such as a hike in interest rates, "we see an approximate 35-to-40 percent
growth in funds from operations to a level of 70 cents to 73 cents per
share from 52 cents in 1997 and 35 cents in 1996."  Levine also noted that
the board of trustees is expected to meet within the next 45 days to review
the Trust's distribution policy.

DRIP PLAN

Levine also pointed to the enhanced features of the Trust's Distribution
Reinvestment and Share Purchase Plan (DRIP) that enables shareholders of
record to increase their ownership in the Trust by reinvesting
distributions at a discount to market and without incurring any broker
commissions and service fees.  Since the enhanced features were introduced
in June 1997, the Trust has raised approximately $400,000 in additional
capital.  Approximately 36 percent of the Trust's registered shareholders
are currently participating in the Plan.

NEW TRADING SYMBOL

The Trust reported that its shares of beneficial interest listed on the
Nasdaq Stock Market will begin trading under the new symbol BSRTS on March
2, 1998.  Levine indicated that the move from VLANS to BSRTS should make
the Trust easier to locate for the investment community.

Banyan Strategic Realty Trust is a diversified equity Real Estate
Investment Trust (REIT) with a portfolio that includes primarily light
industrial/warehouse and suburban office buildings, as well as retail and
residential properties.  The properties are located in major metropolitan
areas and mid-to-small second tier markets primarily in the Midwest and
Southeast United States.  Currently, the Trust has 13,239,730 shares of
beneficial interest outstanding.








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BANYAN STRATEGIC REALTY TRUST



Some of the statements contained in the foregoing are forward-looking
statements.  Words such as "believes," "intends," "anticipates," "expects,"
and similar expressions are intended to identify forward-looking statements
which are subject to a number of risks and uncertainties, including, among
other things, general real estate investment risks, lack of operating
history associated with recent acquisitions, potential inability to repay
or finance indebtedness at maturity, increases in interest rates,
competition for property acquisitions, adverse consequences of failure to
qualify as a REIT, and possible environmental liabilities.  Reference is
made to the annual report on Form 10-K filed by the Trust, specifically
under the heading "Management's Discussion and Analysis of Financial
Condition and Results of Operations - Factors Affecting the Trust's
Business Plan" for a more complete discussion of these risk factors.  The
Trust undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
any future events or circumstances.

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

   For further information regarding Banyan free of charge via fax,
                dial 1-800-PRO-INFO and enter "VLANS."




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<TABLE>
BANYAN STRATEGIC REALTY TRUST


<CAPTION>
                                                      Three Months Ended               Years Ended        
                                                   12/31/97       12/31/96       12/31/97       12/31/96  
                                                 -----------    -----------    -----------    ----------- 
<S>                                             <C>            <C>            <C>            <C>          
Total revenue . . . . . . . . . . . . . . . .    $ 8,269,342    $ 5,501,946    $28,784,900    $21,404,318 
Recovery of losses on loans,
  notes and interest receivable . . . . . . .        161,539          2,510        161,539         16,569 
Operating expenses. . . . . . . . . . . . . .     (7,077,394)    (5,210,655)   (25,664,180)   (19,395,524)
                                                 -----------    -----------    -----------    ----------- 

Operating income. . . . . . . . . . . . . . .      1,353,487        293,801      3,282,259      2,025,363 
Minority interest in consolidated
  partnerships. . . . . . . . . . . . . . . .       (126,850)      (132,021)      (590,323)      (481,411)

Income (loss) of real estate ventures . . . .          --        (3,223,847)        37,126     (3,301,212)
Gain on disposition of investment
  in real estate, disposition of
  investment in real estate venture
  and disposition of partnership interest . .       (194,271)         --           881,375          --    
Extraordinary item, net . . . . . . . . . . .        (64,155)         --           (64,155)         --    
                                                 -----------    -----------    -----------    ----------- 
Net income (loss) . . . . . . . . . . . . . .    $   968,211    $(3,062,067)   $ 3,546,282    $(1,757,260)
                                                 ===========    ===========    ===========    =========== 
Net income (loss) per share . . . . . . . . .    $      0.08    $     (0.29)   $      0.32    $     (0.17)
                                                 ===========    ===========    ===========    =========== 

FUNDS FROM OPERATIONS
Net income (loss) . . . . . . . . . . . . . .    $   968,211    $(3,062,067)   $ 3,546,282    $(1,757,260)
PLUS:
  Depreciation expense. . . . . . . . . . . .        916,168        653,139      3,276,991      2,355,360 
  Depreciation included in operations
    of real estate ventures . . . . . . . . .          --             7,619         15,238         30,475 
  Lease commission amortization . . . . . . .         68,163         39,028        208,362         97,699 



<PAGE>


                                                      Three Months Ended               Years Ended        
                                                   12/31/97       12/31/96       12/31/97       12/31/96  
                                                 -----------    -----------    -----------    ----------- 

LESS:
  Minority interest share of depreciation
    expense . . . . . . . . . . . . . . . . .        (56,171)       (64,520)      (253,749)      (228,011)
  Minority interest share of lease
    commission amortization . . . . . . . . .         (5,842)        (4,945)       (20,893)       (12,684)
  Recovery of losses on loans, notes
    and interest receivable . . . . . . . . .       (161,539)        (2,510)      (161,539)       (16,569)
Franchise tax fees accrued. . . . . . . . . .         12,500         10,000         50,000         40,000 
Valuation allowance included in
  operations of real estate venture . . . . .          --         3,180,000          --         3,180,000 
Gain on disposition of investment in
  real estate, disposition of investment
  in real estate venture and disposition 
  of partnership interest . . . . . . . . . .        194,271          --          (881,375)         --    
Extraordinary item, net . . . . . . . . . . .         64,155          --            64,155          --    
                                                 -----------    -----------    -----------    ----------- 
Funds from operations . . . . . . . . . . . .    $ 1,999,916    $   755,744    $ 5,843,472    $ 3,689,010 
                                                 ===========    ===========    ===========    =========== 
</TABLE>