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 June 30, 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 0-11805
                       -------
       
                          BALCOR REALTY INVESTORS-83
            -------------------------------------------------------
            (Exact name of registrant as specified in its charter)

          Illinois                                      36-3189175    
-------------------------------                     -------------------
(State or other jurisdiction of                      (I.R.S. Employer  
incorporation or organization)                      Identification No.)

2355 Waukegan Rd.
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-83
                       (An Illinois Limited Partnership)

                                BALANCE SHEETS
                      June 30, 1997 and December 31, 1996
                                  (Unaudited)

                                    ASSETS

                                                   1997           1996
                                             -------------- --------------
Cash and cash equivalents                    $   2,057,737  $   4,948,152
Escrow deposits                                    351,771      1,398,303
Accounts and accrued interest receivable            24,901         69,605
Prepaid expenses                                                  116,589
Deferred expenses, net of accumulated
  amortization of $39,443 in 1997 
  and $572,658 in 1996                              98,606        341,827
                                             -------------- --------------
                                                 2,533,015      6,874,476
                                             -------------- --------------
Investment in real estate:
  Land                                           1,103,437      6,914,189
  Buildings and improvements                     4,632,897     40,057,396
                                             -------------- --------------
                                                 5,736,334     46,971,585
  Less accumulated depreciation                  2,649,001     20,970,059
                                             -------------- --------------
Investment in real estate, net of
  accumulated depreciation                       3,087,333     26,001,526
                                             -------------- --------------
                                             $   5,620,348  $  32,876,002
                                             ============== ==============


                  LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)


Accounts payable                             $      26,774  $      84,668
Due to affiliates                                   69,950        111,221
Accrued liabilities, principally real
  estate taxes                                      84,960        775,260
Security deposits                                   17,274        236,745
Mortgage note payable - affiliate                                 734,154
Mortgage notes payable                           4,705,411     33,220,951
                                             -------------- --------------
     Total liabilities                           4,904,369     35,162,999
                                             -------------- --------------
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                                BALANCE SHEETS
                      June 30, 1997 and December 31, 1996
                                  (Unaudited)
                                  (Continued)


Commitments and contingencies

Limited Partners' capital
  (75,005 Interests issued and outstanding)      2,459,184        623,237
General Partner's deficit                       (1,743,205)    (2,910,234)
                                             -------------- --------------
Total partners' capital (deficit)                  715,979     (2,286,997)
                                             -------------- --------------
                                             $   5,620,348  $  32,876,002
                                             ============== ==============


The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                for the six months ended June 30, 1997 and 1996
                                  (Unaudited)


                                                   1997           1996
                                             -------------- --------------
Income:
  Rental and service                         $     946,701  $   7,014,806
  Interest on short-term investments               302,378         83,995
  Settlement income                                               208,250
                                             -------------- --------------
    Total income                                 1,249,079      7,307,051
                                             -------------- --------------
Expenses:
  Interest on mortgage notes payable               333,010      1,788,573
  Depreciation                                     125,502        799,056
  Amortization of deferred expenses                 11,508         85,936
  Property operating                               584,397      2,574,272
  Real estate taxes                                113,481        602,565
  Property management fees                          54,935        346,323
  Administrative                                   188,683        280,730
                                             -------------- --------------
    Total expenses                               1,411,516      6,477,455
                                             -------------- --------------
(Loss) income before gain on sales of 
  properties and extraordinary item               (162,437)       829,596

Gain on sales of properties                     24,840,098      7,982,491
                                             -------------- --------------
Income before extraordinary item                24,677,661      8,812,087

Extraordinary item:
  Debt extinguishment expenses                  (1,337,079)       (56,825)
                                             -------------- --------------
Net income                                   $  23,340,582  $   8,755,262
                                             ============== ==============
Income before extraordinary item
  allocated to General Partner               $   1,233,883  $     440,604
                                             ============== ==============
Income before extraordinary item
  allocated to Limited Partners              $  23,443,778  $   8,371,483
                                             ============== ==============
Income before extraordinary item
  per Limited Partnership Interest
  (75,005 issued and outstanding)            $      312.57  $      111.61
                                             ============== ==============
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                for the six months ended June 30, 1997 and 1996
                                  (Unaudited)
                                  (Continued)


Extraordinary item allocated to 
  General Partner                            $     (66,854) $      (2,841)
                                             ============== ==============
Extraordinary item allocated to 
  Limited Partners                           $  (1,270,225) $     (53,984)
                                             ============== ==============
Extraordinary item per Limited
  Partnership Interest (75,005
  issued and outstanding)                    $      (16.94) $       (0.72)
                                             ============== ==============
Net income allocated to General Partner      $   1,167,029  $     437,763
                                             ============== ==============
Net income allocated to Limited Partners     $  22,173,553  $   8,317,499
                                             ============== ==============
Net income per Limited Partnership Interest
    (75,005 issued and outstanding)          $      295.63  $      110.89
                                             ============== ==============
Distributions to Limited Partners            $  20,337,606  $   1,687,613
                                             ============== ==============
Distributions per Limited Partnership
  Interest (75,005 issued and outstanding)   $      271.15  $       22.50
                                             ============== ==============


The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                 for the quarters ended June 30, 1997 and 1996
                                  (Unaudited)

                                                   1997           1996
                                             -------------- --------------
Income:
  Rental and service                         $     329,601  $   3,418,444
  Interest on short-term investments                83,555         39,799
                                             -------------- --------------
    Total income                                   413,156      3,458,243
                                             -------------- --------------
Expenses:
  Interest on mortgage notes payable                86,616        876,460
  Depreciation                                      32,722        389,329
  Amortization of deferred expenses                  4,930         41,121
  Property operating                               147,417      1,316,992
  Real estate taxes                                 42,480        310,441
  Property management fees                          16,871        168,546
  Administrative                                    79,692        166,953
                                             -------------- --------------
    Total expenses                                 410,728      3,269,842
                                             -------------- --------------
Income before gain on sale of property
  and extraordinary item                             2,428        188,401

Gain on sale of property                                        7,982,491
                                             -------------- --------------
Income before extraordinary item                     2,428      8,170,892

Extraordinary item:
  Debt extinguishment expenses                                    (56,825)
                                             -------------- --------------
Net income                                   $       2,428  $   8,114,067
                                             ============== ==============
Income before extraordinary item
  allocated to General Partner               $         121  $     408,544
                                             ============== ==============
Income before extraordinary item
  allocated to Limited Partners              $       2,307  $   7,762,348
                                             ============== ==============
Income before extraordinary item
  per Limited Partnership Interest
  (75,005 issued and outstanding)            $        0.04  $      103.49
                                             ============== ==============
Extraordinary item allocated to 
  General Partner                                     None  $      (2,841)
                                             ============== ==============
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                       STATEMENTS OF INCOME AND EXPENSES
                 for the quarters ended June 30, 1997 and 1996
                                  (Unaudited)
                                  (Continued)


Extraordinary item allocated to 
  Limited Partners                                    None  $     (53,984)
                                             ============== ==============
Extraordinary item per Limited
  Partnership Interest (75,005
  issued and outstanding)                             None  $       (0.72)
                                             ============== ==============
Net income allocated to General Partner      $         121  $     405,703
                                             ============== ==============
Net income allocated to Limited Partners     $       2,307  $   7,708,364
                                             ============== ==============
Net income per Limited Partnership Interest
  (75,005 issued and outstanding)            $        0.04  $      102.77
                                             ============== ==============
Distribution to Limited Partners             $  17,262,401  $   1,350,090
                                             ============== ==============
Distribution per Limited Partnership
  Interest (75,005 issued and outstanding)   $      230.15  $       18.00
                                             ============== ==============


The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                           STATEMENTS OF CASH FLOWS
                for the six months ended June 30, 1997 and 1996
                                  (Unaudited)

                                                   1997           1996
                                             -------------- --------------
Operating activities:
  Net income                                 $  23,340,582  $   8,755,262
  Adjustments to reconcile net income
    to net cash used in or provided 
    by operating activities:
      Debt extinguishment expenses                 231,713         56,825
      Gain on sales of properties              (24,840,098)    (7,982,491)
      Depreciation of properties                   125,502        799,056
      Amortization of deferred expenses             11,508         85,936
      Net change in:
        Escrow deposits                          1,046,532        706,900
        Accounts and accrued interest
          receivable                                44,704       (177,199)
        Prepaid expenses                           116,589       (125,767)
        Accounts payable                           (57,894)       (58,988)
        Due to affiliates                          (41,271)        21,635
        Accrued liabilities, principally
          real estate taxes                       (690,300)      (500,507)
        Security deposits                         (219,471)       (48,092)
                                             -------------- --------------
  Net cash used in or provided by
    operating activities                          (931,904)     1,532,570
                                             -------------- --------------
Investing activities:
  Proceeds from sales of properties             48,849,667     14,529,423
  Cost incurred in connection with sales 
    of properties                               (1,220,878)      (124,346)
                                             -------------- --------------
  Net cash provided by investing activities     47,628,789     14,405,077
                                             -------------- --------------
Financing activities:
  Distributions to Limited Partners            (20,337,606)    (1,687,613)
  Repayment of mortgage note payable -
    affiliate                                     (734,154)
  Repayment of mortgage notes payable          (28,490,578)    (8,951,783)
  Principal payments on mortgage notes
    payable                                        (24,962)      (312,941)
                                             -------------- --------------
  Net cash used in financing activities        (49,587,300)   (10,952,337)
                                             -------------- --------------
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                           STATEMENTS OF CASH FLOWS
                for the six months ended June 30, 1997 and 1996
                                  (Unaudited)
                                  (Continued)


Net change in cash and cash equivalents         (2,890,415)     4,985,310
Cash and cash equivalents at 
  beginning of period                            4,948,152      2,734,729
                                             -------------- --------------

Cash and cash equivalents at end of period   $   2,057,737  $   7,720,039
                                             ============== ==============


The accompanying notes are an integral part of the financial statements.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                         NOTES TO FINANCIAL STATEMENTS

1. Accounting Policy:

In the opinion of management, all adjustments necessary for a fair presentation
have been made to the accompanying statements for the six months and quarter
ended June 30, 1997, 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 1996, the Partnership sold the Desert Sands Village and
Sandridge - Phase II apartment complexes. During 1997, the Partnership sold the
Eagle Crest - Phase I, Springs Pointe Village and Walnut Ridge - Phases I and
II apartment complexes. The Partnership has retained a portion of the cash to
satisfy obligations of the Partnership as well as establish a reserve for
contingencies. Currently, the Partnership has entered into a contract to sell
its remaining property, the Deer Oaks Apartments. 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 stemming from litigation
involving the Partnership including, but not limited to, the lawsuits discussed
in Note 7 of Notes to Financial Statements. In the absence of any contingency,
the reserves will be paid within twelve months of the last property being sold.
In the event a contingency exists, reserves may be held by the Partnership for
a longer period of time.

3. Interest Expense: 

During the six months ended June 30, 1997 and 1996, the Partnership incurred
and paid interest expense on mortgage notes payable to non-affiliates of
$326,372 and $1,748,967, respectively.

4. Transactions with affiliates:

Fees and expenses paid and payable by the Partnership to affiliates during the
six months and quarter ended June 30, 1997 are:

                                           Paid
                                    ----------------------
                                     Six Months    Quarter      Payable
                                    ------------  ---------    ----------
   Reimbursement of expenses to
     the General Partner, at cost   $  85,026      $  56,649  $  69,950
<PAGE>
In February 1997, the Partnership repaid the Walnut Ridge - Phase II apartment
complex note payable to The Balcor Company ("TBC"), an affiliate of the General
Partner. The Partnership repaid the $734,154 loan with proceeds received from
the sale of the property. During the six months ended June 30, 1997 and 1996,
the Partnership incurred interest expense on the TBC loan of $6,638 and
$39,606, and paid interest expense of $13,276 and $32,606, respectively.

5. Property Sales:

(a) In January 1997, the Partnership sold the Springs Pointe Village Apartments
in an all cash sale for $20,166,667. From the proceeds of the sale, the
Partnership paid $10,645,034 to the third party mortgage holder in full
satisfaction of the first mortgage loan, and paid $393,011 in selling costs.
The basis of the property was $7,171,168 which is net of accumulated
depreciation of $6,097,437. For financial statement purposes, the Partnership
recognized a gain of $12,602,488 from the sale of this property. 

(b) In January 1997, the Partnership sold the Walnut Ridge - Phases I and II
apartment complexes in an all cash sale for $19,475,000. The purchaser received
a $300,000 credit against the purchase price for certain repairs at the
property. From the proceeds of the sale, the Partnership paid $10,752,114 to
the third party mortgage holder in full satisfaction of the first mortgage
loans, repaid a $740,792 loan including accrued interest from TBC, paid
$470,165 in selling costs and $430,085 of prepayment penalties. The basis of
the properties was $10,277,246 which is net of accumulated depreciation of
$8,176,330. For financial statement purposes, the Partnership recognized a gain
of $8,427,589 from the sale of these properties. 

(c) In January 1997, the Partnership sold the Eagle Crest - Phase I Apartments
in an all cash sale for $9,508,000. From the proceeds of the sale, the
Partnership paid $7,093,430 to the third party mortgage holder in full
satisfaction of the first mortgage loan, $357,702 in selling costs and $675,281
of prepayment penalties. The basis of the property was $5,340,277 which is net
of accumulated depreciation of $4,172,793. For financial statement purposes,
the Partnership recognized a gain of $3,810,021 from the sale of this property.

6. Extraordinary Item:  

In January 1997, the Partnership paid prepayment penalties totaling $1,105,366
in connection with the sales of the Eagle Crest - Phase I and Walnut Ridge -
Phases I and II apartment complexes and wrote off the remaining unamortized
deferred expenses totaling $231,713 in connection with the sales of the Eagle
Crest - Phase I, Springs Pointe Village and Walnut Ridge - Phases I and II
apartment complexes. These amounts were recognized as an extraordinary item and
classified as debt extinguishment expenses for financial statement purposes.
<PAGE>
7. Contingencies:

The Partnership is currently involved in two lawsuits whereby the Partnership
and certain affiliates have been named as defendants alleging substantially
similar claims involving certain federal securities law violations with regard
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 financial position, operations and liquidity of
the Partnership. The Partnership believes it has meritorious defenses to
contest the claims.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                     MANAGEMENT'S DISCUSSION AND ANALYSIS

Balcor Realty Investors-83 (the "Partnership") is a limited partnership formed
in 1981 to invest in and operate income-producing real property. The
Partnership raised $75,005,000 from sales of Limited Partnership Interests and
utilized these proceeds to acquire eleven real property investments and a
minority joint venture interest in one additional real property. The
Partnership has since disposed of eleven of these properties, including the
property in which the Partnership held a minority joint venture interest.
Currently, the Partnership has entered into a contract to sell its remaining
property, the Deer Oaks Apartments.

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 1996 for a more complete understanding of
the Partnership's financial position.

Operations
----------

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

The Partnership recognized substantially larger gains in connection with the
sales of four of its properties in January 1997 as compared to the gain
recognized during June 1996 related to the sale of one of its properties. This
was the primary reason net income increased during the six months ended June
30, 1997 as compared to the same period in 1996. The gain recognized from the
June 1996 sale resulted in a decrease in net income during the quarter ended
June 30, 1997 as compared to the same period in 1996. Further discussion of the
Partnership's operations is summarized below.

1997 Compared to 1996
---------------------

Unless otherwise noted, discussions of fluctuations between 1997 and 1996 refer
to both the six months and quarters ended June 30, 1997 and 1996.

The Partnership sold the Eagle Crest - Phase I, Springs Pointe Village and
Walnut Ridge - Phases I and II apartment complexes during January 1997, and the
Desert Sands and Sandridge - Phase II apartment complexes during the second
half of 1996. As a result, rental and service income, interest expense on
mortgage notes payable, depreciation, amortization, property operating
expenses, real estate taxes and property management fees decreased during 1997
as compared to 1996.
 
Higher average cash balances were available for investment due to proceeds
received in connection with the 1997 property sales prior to distribution to
Limited Partners in April 1997. This resulted in an increase in interest income
on short-term investments during 1997 as compared to 1996.
<PAGE>
The Partnership reached a settlement with the seller of the Deer Oaks
Apartments in February 1996 and received $208,250 of settlement income relating
primarily to amounts due from the seller under the management and guarantee
agreement.

The Partnership incurred additional postage, printing and investor processing
costs in 1996 in connection with the Partnership's response to a tender offer.
This was the primary reason for the decrease in administrative expenses during
1997 as compared to 1996.  The Partnership also incurred higher accounting and
portfolio management fees during 1996 which contributed to the decrease.

For financial statement purposes, the Partnership recognized gains totaling
$24,840,098 and $7,982,491 in connection with the sales of four properties in
January 1997 and one property in June 1996, respectively.

During January 1997, the Partnership wrote off the remaining unamortized
deferred expenses in connection with the sales of the Eagle Crest - Phase I and
Walnut Ridge - Phases I and II apartment complexes totaling $231,713, and paid
prepayment penalties in connection with the sales of the Eagle Crest - Phase I
and Walnut Ridge - Phases I and II apartment complexes totaling $1,105,366. In
addition, in June 1996, the Partnership wrote off the remaining unamortized
deferred expenses in connection with the sale of Desert Sands Village
Apartments totaling $56,825. These amounts were recognized as an extraordinary
item and classified as debt extinguishment expenses for financial statement
purposes.

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

The cash position of the Partnership decreased by approximately $2,890,000 as
of June 30, 1997 when compared to December 31, 1996. This decrease was
primarily due to the payment of special distributions to Limited Partners in
January and April 1997 with net proceeds from property sales which was offset
by the net proceeds received from the three properties sold in 1997. The
Partnership used cash of approximately $932,000 to fund its operating
activities. The payment of administrative expenses and prepayment penalties was
partially offset by the cash flow generated by the Partnership's properties,
interest income earned on short-term investments and the collection of certain
escrow deposits related to sold properties. The Partnership received cash of
approximately $47,629,000 from its investing activities relating to proceeds
received from the 1997 property sales, net of closing costs. The Partnership
used cash to fund its financing activities which consisted of distributions to
Limited Partners of approximately $20,337,000, the repayment of the loan
payable to TBC, related to the Walnut Ridge - Phase II Apartments of
approximately $734,000, principal payments on mortgage notes payable of
approximately $25,000, and the repayment of mortgage notes payable of
approximately $28,491,000. 

The Partnership classifies the cash flow performance of its properties as
either positive, a marginal deficit or a significant deficit, each after
consideration of debt service payments unless otherwise indicated. The
<PAGE>
Partnership defines cash flow generated from its properties as an amount equal
to the property's revenue receipts less property related expenditures, which
include debt service payments. During 1997 and 1996, the Deer Oaks Apartments
generated positive cash flow. During 1996 and prior to their sales in 1997,
Eagle Crest - Phase I, Springs Pointe Village and Walnut Ridge - Phases I and
II apartment complexes generated positive cash flow. The Desert Sands Village
and the Sandridge - Phase II apartment complexes were sold in June and
November 1996, respectively, and generated positive cash flow prior to their
sales in 1996. As of June 30, 1997, the occupancy rate at the Deer Oaks
Apartments was 95%. 
 
During 1996, the Partnership sold the Desert Sands Village and Sandridge -
Phase II apartment complexes. During January 1997, the Partnership sold the
Eagle Crest - Phase I, Springs Pointe Village and Walnut Ridge - Phases I and
II apartment complexes. The Partnership has retained a portion of the cash to
satisfy obligations of the Partnership as well as establish a reserve for
contingencies. Currently, the Partnership has entered into a contract to sell
its remaining property, the Deer Oaks Apartments for a sales price of
$7,250,000. 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 stemming from litigation involving the Partnership including,
but not limited to, the lawsuits discussed in Note 7 of Notes to Financial
Statements. In the absence of any contingency, the reserves will be paid within
twelve months of the last property being sold.  In the event a contingency
exists, reserves may be held by the Partnership for a longer period of time.

In January 1997, the Partnership sold the Springs Pointe Village Apartments in
an all cash sale for $20,166,667. From the proceeds of the sale, the
Partnership paid $10,645,034 to the third party mortgage holder in full
satisfaction of the first mortgage loan and paid $393,011 in selling costs.
Pursuant to the terms of the sale, $344,729 of the proceeds was retained by the
Partnership and unavailable for distribution until April 1997, at which time
the funds were released in full. The remaining proceeds from this sale were
distributed to Limited Partners in April 1997. See Note 5 of Notes to Financial
Statements for additional information.

In January 1997, the Partnership sold the Walnut Ridge - Phases I and II
apartment complexes in an all cash sale for $19,475,000. The purchaser received
a $300,000 credit against the purchase price for certain repairs at the
property. From the proceeds of the sale, the Partnership paid $10,752,114 to
the third party mortgage holder in full satisfaction of the first mortgage
loans, repaid a $740,792 loan including accrued interest from TBC, an affiliate
of the General Partner, and paid $470,165 in selling costs and a prepayment
penalty of $430,085. The remaining proceeds from this sale were distributed to
Limited Partners in April 1997.  See Note 5 of Notes to Financial Statements
for additional information.
<PAGE>
In January 1997, the Partnership sold the Eagle Crest - Phase I Apartments in
an all cash sale for $9,508,000. From the proceeds of the sale, the Partnership
paid $7,093,430 to the third party mortgage holder in full satisfaction of the
first mortgage loan, and paid $357,702 in selling costs and a prepayment
penalty of $675,281. The remaining proceeds from this sale were distributed to
Limited Partners in April 1997. See Note 5 of Notes to Financial Statements for
additional information.

The Deer Oaks Apartments mortgage note payable matures in 2002. 

To date, Limited Partners have received distributions of Net Cash Receipts of
$105.50 and Net Cash Proceeds of $509.15, totaling $614.65 per $1,000 Interest,
as well as certain tax benefits. Since all of the Partnership's properties
except the Deer Oaks Apartments have been sold, no quarterly distributions are
expected in the future. However, the Partnership will distribute available
proceeds from the sale of the Deer Oaks Apartments. Investors will not recover
all of their original investment.

Inflation has several types of potentially conflicting impacts on real estate
investments. Short-term inflation can increase real estate operating costs
which may or may not be recovered through increased rents depending on general
or local economic conditions. In the long-term, inflation can be expected to
increase operating costs and replacement costs and may lead to increased rental
revenues and real estate values.
<PAGE>
                          BALCOR REALTY INVESTORS-83
                       (An Illinois Limited Partnership)

                          PART II - OTHER INFORMATION


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

(a) Exhibits:

(4) Amended and Restated Certificate of Limited Partnership set forth as
Exhibit 4.1 to Amendment No. 1 to Registrant's Registration Statement on
Form S-11 dated December 10, 1982 (Registration No. 2-79043) 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. 0-11805) are incorporated herein by reference.

(10) Material Contracts:

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

(a)(ii) Master Amendment and Agreement dated May 22, 1996 relating to the sale
of Desert Sands Village Apartments, previously filed as Exhibit (10)(b)(ii) to
the Registrant's Report on form 10-Q for the quarter ended June 30, 1996 is
incorporated herein by reference.

(a)(iii) Master Amendment and Agreement #2 dated May 22, 1996 relating to the
sale of Desert Sands Village Apartments, previously filed as Exhibit
(10)(b)(iii) to the Registrant's Report on form 10-Q for the quarter ended June
30, 1996 is incorporated herein by reference.

(a)(iv) Letter Agreement dated May 22, 1996 relating to the sale of Desert
Sands Village Apartments, previously filed as Exhibit (99) to the Registrant's
Current Report on Form 8-K dated June 28, 1996, is incorporated herein by
reference.

(b) Agreement of Sale and attachment thereto relating to the sale of Springs
Pointe Apartments, previously filed as Exhibit (10)(c) to the Registrant's
Report on Form 10-Q for the quarter ended September 30, 1996, is incorporated
herein by reference.

(c)(i) Agreement of Sale and attachment thereto relating to the sale of the
Walnut Ridge apartment complex, Phases I and II, previously filed as Exhibit
(2)(a) to the Registrant's Current Report on Form 8-K dated October 7, 1996 is
incorporated herein by reference.
<PAGE>
(c)(ii) Amendment to Agreement of Sale relating to the sale of Walnut Ridge
Apartments, Phases I and II, previously filed as Exhibit (10)(d)(ii) to the
Registrant's Report on Form 10-Q for the quarter ended September 30, 1996, is
incorporated herein by reference.
   
(c)(iii) Second Amendment to Agreement of Sale relating to the sale of the
Walnut Ridge Apartments, Phases I and II, previously filed as Exhibit (99) to
the Registrant's Current Report on Form 8-K dated January 20, 1997 is
incorporated herein by reference.

(d)(i) Agreement of Sale and attachments thereto relating to the Eagle Crest
Apartments, Phase I, previously filed as Exhibit (2)(a) to the Registrant's
Current Report on Form 8-K dated January 20, 1997 is incorporated herein by
reference.

(d)(ii) Modification to Agreement of Sale relating to the Eagle Crest
Apartments, Phase I, previously filed as Exhibit (2)(b) to the Registrant's
Current Report on Form 8-K dated January 20, 1997 is incorporated herein by
reference.

(e)(i) Agreement of Sale and attachment thereto relating to the sale of the
Deer Oaks Apartments, San Antonio, Texas, previously filed as Exhibit (2)(i) to
the Registrant's Report on Form 8-K dated July 18, 1997 is incorporated herein
by reference.

(e)(ii) First Amendment to Agreement of Sale relating to the sale of the Deer
Oaks Apartments, San Antonio, Texas, previously filed as Exhibit (2)(ii) to the
Registrant's Report on Form 8-K dated July 18, 1997 is incorporated herein by
reference.

(27) Financial Data Schedule of the Registrant for the six month period ending
June 30, 1997 is attached hereto.

(b) Reports on Form 8-K:  

A Current Report on Form 8-K dated July 18, 1997 was filed reporting the
contract to sell the Deer Oaks Apartments, in San Antonio, Texas.
<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-83



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



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



Date:  August 12, 1997          
      --------------------
<PAGE>