SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                   FORM 10-Q
(Mark One)

  X  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
-----
     EXCHANGE ACT OF 1934.

For the quarterly period ended March 31, 1997
                               -------------- 
                                      OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
-----
     EXCHANGE ACT OF 1934.

For the transition period from              to             
                               ------------    ------------
Commission file number 0-13349
                       -------

                         BALCOR REALTY INVESTORS-84         
          ------------------------------------------------------
          (Exact name of registrant as specified in its charter)

          Illinois                                      36-3215399    
-------------------------------                     -------------------
(State or other jurisdiction of                      (I.R.S. Employer  
incorporation or organization)                      Identification No.)

2355 Waukegan Road
Bannockburn, Illinois                                     60015            
----------------------------------------            ------------------- 
(Address of principal executive offices)                (Zip Code)

Registrant's telephone number, including area code (847) 267-1600
                                                   -------------- 

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.

Yes   X    No     
    -----     -----
<PAGE>
                          BALCOR REALTY INVESTORS-84 
                       (An Illinois Limited Partnership)

                                BALANCE SHEETS
                     March 31, 1998 and December 31, 1997
                                  (Unaudited)

                                    ASSETS

                                                 1998            1997
                                            --------------- --------------
Cash and cash equivalents                   $    2,549,568  $   7,408,757
Accounts and accrued interest receivable            19,905         46,246
Prepaid expenses                                     2,109
                                            --------------- --------------
                                            $    2,571,582  $   7,455,003
                                            =============== ==============

                       LIABILITIES AND PARTNERS' CAPITAL

Accounts payable                            $       56,194  $      83,280
Due to affiliates                                   60,751         57,285
                                            --------------- --------------
    Total liabilities                              116,945        140,565
                                            --------------- --------------
Commitments and contingencies

Limited Partners' capital
  (140,000 Interests issued 
  and outstanding)                               2,454,637      7,314,438

General Partner's capital                             None           None
                                            --------------- --------------
    Total partners' capital                      2,454,637      7,314,438
                                            --------------- --------------
                                            $    2,571,582  $   7,455,003
                                            =============== ==============

The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-84 
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                for the quarters ended March 31, 1998 and 1997
                                  (Unaudited)

                                                 1998            1997
                                            --------------- --------------
Income:
  Rental and service                                        $   1,110,145
  Interest on short-term investments        $       45,651        201,504
  Other income                                       6,361        252,462
                                            --------------- --------------
    Total income                                    52,012      1,564,111
                                            --------------- --------------
Expenses:
  Interest on mortgage notes payable                              317,679
  Depreciation                                                    161,159
  Amortization of deferred expenses                                 9,085
  Property operating                                              460,123
  Real estate taxes                                                82,269
  Property management fees                                         53,502
  Administrative                                   101,034        144,160
                                            --------------- --------------
    Total expenses                                 101,034      1,227,977
                                            --------------- --------------
(Loss) income before gain on sale of
  property and extraordinary items                 (49,022)       336,134
Gain on sale of property                                        9,847,037
                                            --------------- --------------
(Loss) income before extraordinary items           (49,022)    10,183,171
                                            --------------- --------------
Extraordinary items:
  Gain on forgiveness of debt                                     111,245
  Debt extinguishment expense                                     (51,536)
                                                            --------------
  Total extraordinary items                                        59,709
                                            --------------- --------------
Net (loss) income                           $      (49,022) $  10,242,880
                                            =============== ==============
Income before extraordinary items
  allocated to General Partner                        None  $     101,832
                                            =============== ==============
(Loss) income before extraordinary items
  allocated to Limited Partners             $      (49,022) $  10,081,339
                                            =============== ==============
(Loss) income before extraordinary items
  per Limited Partnership Interest
  (140,000 issued and outstanding)
  - Basic and Diluted                       $        (0.35) $       72.01
                                            =============== ==============

The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-84 
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                for the quarters ended March 31, 1998 and 1997
                                  (Unaudited)
                                  (Continued)

                                                 1998            1997
                                           --------------- --------------
Extraordinary items allocated
  to General Partner                                  None  $         597
                                            =============== ==============
Extraordinary items allocated
  to Limited Partners                                 None  $      59,112
                                            =============== ==============
Extraordinary items per Limited
  Partnership Interest (140,000 issued
  and outstanding) - Basic and Diluted                None  $        0.42
                                            =============== ==============
Net income allocated to General Partner               None  $     102,429
                                            =============== ==============
Net (loss) income allocated
   to Limited Partners                      $      (49,022) $  10,140,451
                                            =============== ==============
Net (loss) income per Limited Partnership
  Interest (140,000 issued and outstanding)
  - Basic and Diluted                       $        (0.35) $       72.43
                                            =============== ==============
Distribution to Limited Partners            $    4,810,779  $   9,380,000
                                            =============== ==============
Distribution per Limited Partnership 
  Interest                                  $        34.36  $       67.00
                                            =============== ==============

The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-84 
                       (An Illinois Limited Partnership)

                           STATEMENTS OF CASH FLOWS
                for the quarters ended March 31, 1998 and 1997
                                  (Unaudited)

                                                1998            1997
                                            --------------- --------------
Operating activities:
  Net (loss) income                         $      (49,022) $  10,242,880
  Adjustments to reconcile net (loss) 
    income to net cash (used in) provided 
    by operating activities:
      Other income                                               (252,462)
      Extraordinary items:
        Gain on forgiveness of debt                              (111,245)
        Debt extinguishment expense                                51,536
      Gain on sale of property                                 (9,847,037)
      Depreciation of properties                                  161,159
      Amortization of deferred expenses                             9,085
      Net change in:
        Escrow deposits                                           (59,362)
        Accounts and accrued interest
          receivable                                26,341        933,319
        Prepaid expenses                            (2,109)        63,200
        Accounts payable                           (27,086)      (164,251)
        Due to affiliates                            3,466         (3,593)
        Accrued liabilities                                        80,665
        Security deposits                                         (92,482)
                                            --------------- --------------
  Net cash (used in) provided by
     operating activities                          (48,410)     1,011,412
                                            --------------- --------------
Investing activities:
  Proceeds from sales of property                              18,833,333
  Payment of selling costs                                       (367,173)
                                                            --------------
  Net cash provided by investing activities                    18,466,160
                                                            --------------
Financing activities:
  Distributions to Limited Partners             (4,810,779)    (9,380,000)
  Repayment of loans payable - affiliate                         (234,721)
  Repayment of mortgage note payable                          (10,736,529)
  Principal payments on mortgage 
    notes payable                                                 (79,300)
                                            --------------- --------------
  Cash used in financing activities             (4,810,779)   (20,430,550)
                                            --------------- --------------

Net change in cash and cash equivalents         (4,859,189)      (952,978)
Cash and cash equivalents at beginning
  of year                                        7,408,757     11,154,753
                                            --------------- --------------
Cash and cash equivalents at end of period  $    2,549,568  $  10,201,775
                                            =============== ==============

The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-84
                       (An Illinois Limited Partnership)

                         NOTES TO FINANCIAL STATEMENTS

1. Accounting Policies:

(a) For financial statement purposes, the capital accounts of the General
Partner and the Limited Partners have been adjusted to appropriately reflect
their remaining economic interests as provided for in the Partnership
Agreement.

(b) In the opinion of management, all adjustments necessary for a fair
presentation have been made to the accompanying statements for the quarter
ended March 31, 1998, and all such adjustments are of a normal and recurring
nature.

2. Partnership Termination:

The Partnership Agreement provides for the dissolution of the Partnership upon
the occurrence of certain events, including the disposition of all interests in
real estate. During 1997, the Partnership sold its three remaining properties.
The Partnership has retained a portion of the cash from the property sales to
satisfy obligations of the Partnership as well as establish a reserve for
contingencies. The timing of the termination of the Partnership and final
distribution of cash will depend upon the nature and extent of liabilities and
contingencies which exist or may arise. Such contingencies may include legal
and other fees and costs stemming from litigation involving the Partnership
including, but not limited to, the lawsuits discussed in Note 5 of Notes to
Financial Statements. In the absence of any such contingencies, the reserves
will be paid within twelve months of the last property being sold. In the event
a contingency continues to exist or arises, reserves may be held by the
Partnership for a longer period of time.

3. Interest Expense:

During the quarter ended March 31, 1997, the Partnership incurred and paid
interest expense on mortgage notes payable to non-affiliates of $317,679.

4. Transactions with Affiliates:

Fees and expenses paid and payable by the Partnership to affiliates during the
quarter ended March 31, 1998 are:
                                               
                                        Paid       Payable      
                                    ------------  ---------         

Reimbursement of expenses to
     the General Partner, at cost:      $12,289    $60,751

5. Contingencies:

The Partnership is currently involved in two lawsuits whereby the Partnership 
<PAGE>
and certain affiliates have been named as defendants alleging substantially
similar claims involving certain state securities and common law violations
with regard to the property acquisition process of the Partnership, and to the
adequacy and accuracy of disclosures of information concerning, as well as
marketing efforts related to, the offering of the Limited Partnership Interests
of the Partnership. The defendants continue to vigorously contest these
actions. A plaintiff class has not been certified in either action and, no
determinations of the merits have been made. It is not determinable at this
time whether or not an unfavorable decision in either action would have a
material adverse impact on the Partnership's financial position, results of
operations or liquidity. The Partnership believes that it has meritorious
defenses to contest the claims.
<PAGE>
                          BALCOR REALTY INVESTORS-84
                       (An Illinois Limited Partnership)

                     MANAGEMENT'S DISCUSSION AND ANALYSIS

Balcor Realty Investors-84 (the "Partnership") was formed in 1982 to invest in
and operate income-producing real property. The Partnership raised $140,000,000
from sales of Limited Partnership Interests and utilized these proceeds to
acquire twenty-three real property investments and a minority joint venture
interest in one additional property. As of March 31, 1998, the Partnership has
no properties remaining in its portfolio.

Inasmuch as the management's discussion and analysis below relates primarily to
the time period since the end of the last fiscal year, investors are encouraged
to review the financial statements and the management's discussion and analysis
contained in the annual report for 1997 for a more complete understanding of
the Partnership's financial position.

Operations
----------

Summary of Operations
---------------------

Administrative expenses exceeded interest income earned on short-term
investments during the quarter ended March 31, 1998.  This was the primary
reason the Partnership recognized a net loss during the quarter ended March 31,
1998.  During January 1997, the Partnership sold the Somerset Pointe Apartments
and recognized a gain in connection with this sale, which resulted in the
Partnership generating net income during the quarter ended March 31, 1997.
Further discussion of the Partnership's operations is summarized below.

1998 Compared to 1997
---------------------

Discussions of fluctuations between 1998 and 1997 refer to the quarters ended
March 31, 1998 and 1997.

In 1997, the Partnership sold its three remaining properties; the Somerset
Pointe, Courtyards of Kendall and Briarwood Place apartment complexes. As a
result, rental and service income, interest expense on mortgage notes payable,
depreciation, amortization, property operating expense, real estate taxes and
property management fees ceased during 1997. 

Higher average cash balances were available for investment in 1997 due to
proceeds received in connection with the 1997 sale and sales in the latter part
of 1996 of the Partnership's properties prior to distribution to the Limited
Partners. This resulted in a decrease in interest income on short-term
investments during 1998 as compared to 1997.

The Partnership recognized other income during 1998 in connection with refunds
from vendors related to Briarwood Place Apartments, which was sold in 1997. In
connection with the 1997 sale of Somerset Pointe Apartments, the Partnership
recognized other income of $252,462 representing the difference between the
contractual amount of the first mortgage loan and the carrying amount of the
loan.  
<PAGE>
Due to lower accounting and professional fees as a result of the prior year's
property sales, administrative expense decreased during 1998 as compared to
1997.

In January 1997, the Partnership sold the Somerset Pointe Apartments and
recognized a gain on sale of $9,847,037.

During February 1997, the Partnership paid $234,721 in full satisfaction of the
junior mortgage loan outstanding from an affiliate of the General Partner
related to the Woodland Hills Apartments, representing a discount of $111,245.
The loan had an outstanding balance of $345,966, which included accrued
interest of $9,094. The discount was recognized as an extraordinary item and
classified as a gain on forgiveness of debt for financial statement purposes.

In connection with the sale of the Somerset Pointe Apartments in 1997, the
Partnership wrote-off the remaining unamortized deferred financing fees in the
amount of $51,536. This amount was recognized as an extraordinary item and
classified as debt extinguishment expense for financial statement purposes.

Liquidity and Capital Resources
-------------------------------

The cash position of the Partnership decreased by approximately $4,859,000 as
of March 31, 1998 when compared to December 31, 1997 primarily due to the
January 1998 distribution to Limited Partners of Net Cash Proceeds from the
sale of the Briarwood Place Apartments. The Partnership used cash of
approximately $48,000 in its operating activities to pay administrative
expenses which was partially offset by interest income earned on short-term
investments and the receipt of vendor refunds related to the Briarwood Place
Apartments. The Partnership used cash to fund its financing activities which
consisted of a distribution to Limited Partners of approximately $4,811,000. 

The Partnership Agreement provides for the dissolution of the Partnership upon
the occurrence of certain events, including the disposition of all interests in
real estate. During 1997, the Partnership sold its three remaining properties.
The Partnership has retained a portion of the cash from the property sales to
satisfy obligations of the Partnership as well as establish a reserve for
contingencies. The timing of the termination of the Partnership and final
distribution of cash will depend upon the nature and extent of liabilities and
contingencies which exist or may arise. Such contingencies may include legal
and other fees and costs stemming from litigation involving the Partnership
including, but not limited to, the lawsuits discussed in Note 5 of Notes to the
Financial Statements. In the absence of any such contingencies, the reserves
will be paid within twelve months of the last property being sold. In the event
a contingency continues to exist or arises, reserves may be held by the
Partnership for a longer period of time.

To date, Limited Partners have received distributions totaling $319.36 per
$1,000 Interest. Of this amount, $4.00 represents Cash Flow from operations and
$315.36 represents a return of Original Capital. No additional distributions
are anticipated to be made prior to the termination of the Partnership.
However, after paying final partnership expenses, any remaining cash reserves
will be distributed. Limited Partners will not recover a substantial portion of
their original investment.
<PAGE>
                          BALCOR REALTY INVESTORS-84
                       (An Illinois Limited Partnership)

                          PART II - OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K
-----------------------------------------

(a) Exhibits:

(4) Form of Subscription Agreement, previously filed as Exhibit 4.1 to
Amendment No. 1 to the Registrant's Registration Statement on Form S-11 dated
December 16, 1983 (Registration No. 2-86317) and Form of Confirmation regarding
Interests in the Registrant set forth as Exhibit 4.2 to the Registrant's Report
on Form 10-Q for the quarter ended June 30, 1992 (Commission File No. 0-13349)
are incorporated herein by reference.

(10) Material Contracts:

(a)(i) Agreement of Sale and attachments thereto relating to the sale of the
Canyon Sands Village Apartments, Phoenix, Arizona previously filed as Exhibit
(2)(b) to the Registrant's Current Report on Form 8-K dated April 23, 1996 are
incorporated herein by reference.

(a)(ii) Master Amendment and Agreement dated May 22, 1996 relating to the sale
of the Canyon Sands Apartments, Phoenix, Arizona and Ridgetree Apartments,
Phase I, Dallas, Texas previously filed as Exhibit (2)(a)(i) to the
Registrant's  Current Report on Form 8-K dated May 31, 1996 is incorporated
herein by reference.

(a)(iii) Master Amendment and Agreement #2 dated May 22, 1996 relating to the
sale of the Canyon Sands Apartments, Phoenix, Arizona and Ridgetree Apartments,
Phase I, Dallas, Texas previously filed as Exhibit (2)(a)(ii) to the
Registrant's Current Report on Form 8-K dated May 31, 1996 is incorporated
herein by reference. 

(b) Agreement of Sale and attachments thereto relating to the sale of Ridgetree
Apartments, Phase I, Dallas, Texas previously filed as Exhibit (2)(c) to the
Registrant's Current Report on Form 8-K dated April 23, 1996 are incorporated
herein by reference.

(c) Agreement of Sale and attachments thereto relating to the sale of the
Sunnyoak Village Apartments, Overland Park, Kansas previously filed as Exhibit
(2)(d) to the Registrant's Current Report on Form 8-K dated April 23, 1996 are
incorporated herein by reference.

(d)(i) Agreement of Sale relating to the sale of Antlers Apartments,
Jacksonville, Florida previously filed as Exhibit (2) to the Registrant's
Current Report on Form 8-K dated April 2, 1996 is incorporated herein by
reference.

(d)(ii) Letter Agreements dated March 29, 1996, May 2, 1996 and May 3, 1996, 
<PAGE>
respectively, amending the Agreement of Sale relating to Antlers Apartments,
Jacksonville, Florida previously filed as Exhibit 10(vi) to the Registrant's
Quarterly Report on Form 10-Q for the quarter ended March 31, 1996 are
incorporated herein by reference.   

(e)(i) Agreement of Sale and attachments thereto relating to the sale of the
Woodland Hills Apartments, Irving, Texas, previously filed as Exhibit (2)(i) to
the Registrant's Current Report on Form 8-K dated August 27, 1996, are
incorporated herein by reference.

(e)(ii) Letter dated September 9, 1996, relating to the sale of the Woodland
Hills Apartments, Irving, Texas, previously filed as Exhibit (2)(ii) to the
Registrant's Current Report on Form 8-K dated August 27, 1996, is incorporated
herein by reference.

(e)(iii) Letter agreement dated September 12, 1996 relating to the sale of the
Woodland Hills Apartments, Irving, Texas, previously filed as Exhibit 99(c) to
the Registrant's Current Report on Form 8-K dated August 30, 1996, is
incorporated herein by reference.

(f)(i) Agreement of Sale and attachments thereto, dated September 25, 1996,
relating to the sale of the Somerset Pointe Apartments, Las Vegas, Nevada,
previously filed as Exhibit (2) to the Registrant's Current Report on Form 8-K
dated September 24, 1996, are incorporated herein by reference.

(f)(ii) Agreement of Sale and attachments thereto, dated November 9, 1996,
relating to the sale of the Somerset Pointe Apartments, Las Vegas, Nevada,
previously filed as exhibit (10)(f)(ii) to the Registrant's Quarterly Report on
Form 10-Q for the quarter ended September 30, 1996 are incorporated herein by
reference.

(g)(i) Agreement of Sale and attachments thereto relating to the sale of the
Chesapeake Apartments, Harris County, Texas, previously filed as Exhibit
(2)(a)(i) to the Registrant's Current Report on Form 8-K dated October 18,
1996, are incorporated herein by reference.

(g)(ii) First Amendment to Agreement of Sale relating to the sale of the
Chesapeake Apartments, Harris County, Texas, previously filed as Exhibit
(2)(a)(ii) to the Registrant's Current Report on Form 8-K dated October 18,
1996, is incorporated herein by reference.

(h) Agreement of Sale and attachments thereto relating to the sale of the Quail
Lakes Apartments, Oklahoma City, Oklahoma, previously filed as Exhibit (2)(b)
to the Registrant's Current Report on Form 8-K dated October 18, 1996, are
incorporated herein by reference.

(i)(i) Agreement of Sale and attachments thereto relating to the sale of the
Courtyards of Kendall Apartments, Dade County, Florida, previously filed as
exhibit (2)(i) to the Registrant's Current Report on Form 8-K dated January 30,
1997 is incorporated herein by reference.

(i)(ii) First Amendment to the Agreement of Sale and Escrow Agreement relating
to the sale of the Courtyards of Kendall Apartments, Dade County, Florida,
previously filed as exhibit (2)(ii) to the Registrant's Current Report on Form
8-K dated January 30, 1997 is incorporated herein by reference.
<PAGE>
(i)(iii) Notice of Disapproval dated February 27, 1997, relating to the sale of
the Courtyards of Kendall Apartments, Dade County, Florida, previously filed as
Exhibit (10)(i)(iii) to the Registrant's Annual Report on Form 10-K for the
year ended December 31, 1996, is incorporated herein by reference.

(i)(iv) Second Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Courtyards of Kendall Apartments, Dade County, Florida,
previously filed as Exhibit (10)(i)(iv) to the Registrant's Quarterly Report on
Form 10-Q for the quarter ended March 31, 1997, is incorporated herein by
reference.

(i)(v) Third Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Courtyards of Kendall Apartments, Dade County, Florida,
previously filed as Exhibit (10)(i)(v) to the Registrant's Quarterly Report on
Form 10-Q for the quarter ended March 31, 1997, is incorporated herein by
reference.

(i)(vi) Forbearance Agreement relating to the sale of the Courtyards of Kendall
Apartments, Dade County, Florida, previously filed as Exhibit (10(i)(vi) to the
Registrant's Quarterly Report on Form 10-Q for the quarter ended June 30, 1997,
is incorporated herein by reference.

(i)(vii) Fourth Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Courtyards of Kendall Apartments, Dade County, Florida,
previously filed as Exhibit (10)(i)(vii) to the Registrant's Quarterly Report
on Form 10-Q for the quarter ended June 30, 1997, is incorporated herein by
reference.

(j)(i) Agreement of Sale and attachments thereto relating to the sale of the
Briarwood Place Apartments, Chandler, Arizona, previously filed as exhibit (10)
to the Registrant's Current Report on Form 8-K dated May 22, 1997, is
incorporated herein by reference.

(j)(ii) Amendment to Agreement of Sale and Escrow Agreement relating to the
sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed as
Exhibit (10)(j)(ii) to the Registrant's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1997, is incorporated herein by reference.

(j)(iii) Second Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed
as Exhibit (10)(j)(iii) to the Registrant's Quarterly Report on Form 10-Q for
the quarter ended September 30, 1997, is incorporated herein by reference.

(j)(iv) Third Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed
as Exhibit (10)(j)(iv) to the Registrant's Quarterly Report on Form 10-Q for
the quarter ended September 30, 1997, is incorporated herein by reference.

(j)(v) Fourth Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed
as Exhibit (10)(j)(v) to the Registrant's Quarterly Report on Form 10-Q for the
quarter ended September 30, 1997, is incorporated herein by reference.
<PAGE>
(j)(vi) Fifth Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed
as Exhibit (10)(j)(vi) to the Registrant's Quarterly Report on Form 10-Q for
the quarter ended September 30, 1997, is incorporated herein by reference.

(j)(vii) Sixth Amendment to Agreement of Sale and Escrow Agreement relating to
the sale of the Briarwood Place Apartments, Chandler, Arizona, previously filed
as Exhibit (10)(j)(vii) to the Registrant's Quarterly Report on Form 10-Q for
the quarter ended September 30, 1997, is incorporated herein by reference.

(j)(viii) Letter Agreement dated November 6, 1997 relating to the sale of the
Briarwood Place Apartments, Chandler, Arizona, previously filed as Exhibit
(10)(j)(viii) to the Registrant's Quarterly Report on Form 10-Q for the quarter
ended September 30, 1997, is incorporated herein by reference.

(j)(ix) Letter Agreement dated November 7, 1997 relating to the sale of the
Briarwood Place Apartments, Chandler, Arizona, previously filed as Exhibit
(10)(j)(ix) to the Registrant's Quarterly Report on Form 10-Q for the quarter
ended September 30, 1997, is incorporated herein by reference.

(27) Financial Data Schedule of the Registrant for the quarter ending March 31,
1998, is attached hereto. 

(i) Reports on Form 8-K: No reports were filed on Form 8-K during the quarter
ended March 31, 1998.
<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, thereunto duly authorized.

                              BALCOR REALTY INVESTORS-84

                              By:/s/Thomas E. Meador                          
                                  -----------------------------
                                    Thomas E. Meador
                                    President, Chief Executive Officer 
                                    (Principal Executive Officer) of Balcor 
                                    Partners-XV, the General Partner

                              By:/s/Jayne A. Kosik
                              -----------------------------
                                    Jayne A. Kosik
                                    Senior Managing Director and Chief 
                                    Financial Officer (Principal Accounting 
                                    Officer) of Balcor Partners-XV, the 
                                    General Partner

Date:  May 8, 1998                    
      ----------------------------
<PAGE>