SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  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)  November 13, 1996

                         BALCOR REALTY INVESTORS - 84
         ------------------------------------------------------------
                           Exact Name of Registrant


Illinois                                0-13349
-----------------------------------     -----------------------------------
State or other jurisdiction             Commission file number

2355 Waukegan Road
Suite A200
Bannockburn, Illinois                   36-3215399
-----------------------------------     -----------------------------------
Address of principal                    I.R.S. Employer
executive offices                       Identification
                                        Number

60015
-----------------------------------
Zip Code


              Registrant's telephone number, including area code:
                                (847) 267-1600
<PAGE>
Item 5. Other Information
----------------------------------

a)  Chesapeake Apartments

As previously reported, on October 18, 1996, the Partnership contracted to sell
the Chesapeake Apartments, Harris County, Texas to an unaffiliated party, AIMCO
Properties, L.P., a Delaware limited partnership, for a sale price of
$7,950,000.  The sale closed on December 19, 1996.  The purchaser did not
assume the first mortgage loan as previously expected.  The Partnership will
use sale proceeds of $5,072,714 to repay the loan.  In addition, from the
proceeds of the sale, the Partnership paid $159,000 to a third party as a
brokerage commission, $59,625 to an affiliate of the third party providing
property management services as a fee for services rendered in connection with
the sale of the property and $30,954 in closing costs.  The Partnership
received the remaining sale proceeds of  approximately $2,627,707. 

b)  Courtyards of Kendall Apartments

As previously reported, on October 24, 1996, the Partnership contracted to sell
the Courtyards of Kendall Apartments, Dade County, Florida to an unaffiliated
party, Ceebraid-Signal Corporation, a Florida corporation, for a sale price of
$11,310,000.  On November 13, 1996 the purchaser exercised its option to
terminate the agreement of sale and a closing of the sale will not occur.
Pursuant to the agreement of sale, the $150,000 in earnest money previously
deposited by the purchaser and interest accrued thereon was returned to the
purchaser.

c)  Somerset Pointe Apartments

As previously reported, on November 5, 1996, the Partnership contracted to sell
Somerset Pointe Apartments, Las Vegas, Nevada to an unaffiliated party, DKS
Associates, for a sale price of $18,833,333.  The closing of the sale was
extended and the sale closed on January 6, 1997. From the proceeds of the sale,
the Partnership paid the outstanding balance of the first mortgage loan in the
amount of  $10,736,529, closing costs of $68,275, and  $188,333 to an
unaffiliated party as a brokerage commission.  An affiliate of the third party
providing property management services for the property received a fee of
$141,250 for services rendered in connection with the sale of the property.    
The Partnership received approximately $7,698,946 representing the remaining
proceeds.  Of such proceeds, $321,937 will be retained by the Partnership and
not be available for use or distribution by the Partnership until 90 days after
closing.

d)  Woodland Hills Apartments

As previously reported, on August 27, 1996, the Partnership contracted to sell
Woodland Hills Apartments, Irving, Texas to an unaffiliated party, TGM Realty
Corp. #5, a Delaware corporation, for a sale price of $7,500,000.  Pursuant to
an agreement between the Partnership and the purchaser, the sale price was
reduced to $7,300,000  and the sale closed on November 19, 1996. From the
proceeds of the sale, the Partnership paid the outstanding balance of the first
<PAGE>
mortgage loan in the amount of $4,910,568, a prepayment penalty of $96,211,
closing costs of $59,000, and  $144,750 to an unaffiliated party as a brokerage
commission.  An affiliate of the third party providing property management
services for the property received a fee of $54,750 for services rendered in
connection with the sale of the property.  The Partnership received
approximately $2,034,721 representing the remaining proceeds.  Of such
proceeds, $250,000 will be retained by the Partnership and not be available for
use or distribution by the Partnership until 90 days after closing. 


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
----------------------------------------------------------------------

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (99)  (a)  Letter of Termination relating to the sale of Courtyards 
                     of Kendall Apartments,  Dade County, Florida.

                (b)  First Amendment to Agreement of Sale and Escrow Agreement 
                     relating to the sale of Somerset Pointe Apartments, Las 
                     Vegas, Nevada.

                (c)  Letter agreement dated November 11, 1996 relating to the 
                     sale of the Woodland Hills Apartments, Irving, Texas.


No information is required under Items 1, 2, 3, 4, 6 and 8 and these items
have, therefore, been omitted.
<PAGE>
Signature
-------------

     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.


                         BALCOR REALTY INVESTORS-84

                         By:  Balcor Partners-XV, an Illinois general 
                              partnership, its general partner

                         By:  RGF-Balcor Associates-II, an Illinois
                              general partnership, a partner

                         By:  The Balcor Company, a Delaware corporation,
                              a partner

                         By:   /s/ Jerry M. Ogle
                              ------------------------------------------
                                   Jerry M. Ogle, Managing Director 
                                   and Secretary


Dated:  January 29, 1997
<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  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)  November 13, 1996

                         BALCOR REALTY INVESTORS - 84
         ------------------------------------------------------------
                           Exact Name of Registrant

Illinois                                0-13349
-----------------------------------     -----------------------------------
State or other jurisdiction             Commission file number

2355 Waukegan Road
Suite A200
Bannockburn, Illinois                   36-3215399
-----------------------------------     -----------------------------------
Address of principal                    I.R.S. Employer
executive offices                       Identification
                                        Number

60015
-----------------------------------
Zip Code

              Registrant's telephone number, including area code:
                                (847) 267-1600
Item 5. Other Information
----------------------------------

a)  Chesapeake Apartments

As previously reported, on October 18, 1996, the Partnership contracted to sell
the Chesapeake Apartments, Harris County, Texas to an unaffiliated party, AIMCO
Properties, L.P., a Delaware limited partnership, for a sale price of
$7,950,000.  The sale closed on December 19, 1996.  The purchaser did not
assume the first mortgage loan as previously expected.  The Partnership will
use sale proceeds of $5,072,714 to repay the loan.  In addition, from the
proceeds of the sale, the Partnership paid $159,000 to a third party as a
brokerage commission, $59,625 to an affiliate of the third party providing
property management services as a fee for services rendered in connection with
the sale of the property and $30,954 in closing costs.  The Partnership
received the remaining sale proceeds of  approximately $2,627,707. 

b)  Courtyards of Kendall Apartments

As previously reported, on October 24, 1996, the Partnership contracted to sell
the Courtyards of Kendall Apartments, Dade County, Florida to an unaffiliated
party, Ceebraid-Signal Corporation, a Florida corporation, for a sale price of
$11,310,000.  On November 13, 1996 the purchaser exercised its option to
terminate the agreement of sale and a closing of the sale will not occur.
Pursuant to the agreement of sale, the $150,000 in earnest money previously
deposited by the purchaser and interest accrued thereon was returned to the
purchaser.

c)  Somerset Pointe Apartments

As previously reported, on November 5, 1996, the Partnership contracted to sell
Somerset Pointe Apartments, Las Vegas, Nevada to an unaffiliated party, DKS
Associates, for a sale price of $18,833,333.  The closing of the sale was
extended and the sale closed on January 6, 1997. From the proceeds of the sale,
the Partnership paid the outstanding balance of the first mortgage loan in the
amount of  $10,736,529, closing costs of $68,275, and  $188,333 to an
unaffiliated party as a brokerage commission.  An affiliate of the third party
providing property management services for the property received a fee of
$141,250 for services rendered in connection with the sale of the property.    
The Partnership received approximately $7,698,946 representing the remaining
proceeds.  Of such proceeds, $321,937 will be retained by the Partnership and
not be available for use or distribution by the Partnership until 90 days after
closing.

d)  Woodland Hills Apartments

As previously reported, on August 27, 1996, the Partnership contracted to sell
Woodland Hills Apartments, Irving, Texas to an unaffiliated party, TGM Realty
Corp. #5, a Delaware corporation, for a sale price of $7,500,000.  Pursuant to
an agreement between the Partnership and the purchaser, the sale price was
reduced to $7,300,000  and the sale closed on November 19, 1996. From the
proceeds of the sale, the Partnership paid the outstanding balance of the first
mortgage loan in the amount of $4,910,568, a prepayment penalty of $96,211,
closing costs of $59,000, and  $144,750 to an unaffiliated party as a brokerage
commission.  An affiliate of the third party providing property management
services for the property received a fee of $54,750 for services rendered in
connection with the sale of the property.  The Partnership received
approximately $2,034,721 representing the remaining proceeds.  Of such
proceeds, $250,000 will be retained by the Partnership and not be available for
use or distribution by the Partnership until 90 days after closing. 

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS
----------------------------------------------------------------------

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (99)  (a)  Letter of Termination relating to the sale of Courtyards 
                     of Kendall Apartments,  Dade County, Florida.

                (b)  First Amendment to Agreement of Sale and Escrow Agreement 
                     relating to the sale of Somerset Pointe Apartments, Las 
                     Vegas, Nevada.

                (c)  Letter agreement dated November 11, 1996 relating to the 
                     sale of the Woodland Hills Apartments, Irving, Texas.

No information is required under Items 1, 2, 3, 4, 6 and 8 and these items
have, therefore, been omitted.
Signature
-------------

     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.

                         BALCOR REALTY INVESTORS-84

                         By:  Balcor Partners-XV, an Illinois general 
                              partnership, its general partner

                         By:  RGF-Balcor Associates-II, an Illinois
                              general partnership, a partner

                         By:  The Balcor Company, a Delaware corporation,
                              a partner

                         By:   /s/ Jerry M. Ogle
                              ------------------------------------------
                                   Jerry M. Ogle, Managing Director 
                                   and Secretary

Dated:  January 29, 1997