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)  March 31, 1997

                         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 2. Acquisition or Disposition of Assets
-----------------------------------------------------
Courtyards of Kendall Apartments

In 1984, the Partnership acquired the Courtyards of Kendall Apartments, Dade
County, Florida, utilizing approximately $6,313,320 in offering proceeds.  The
property was acquired subject to first mortgage financing of approximately
$8,691,260.  Pursuant to a 1988 refinancing, the outstanding loan balance was
increased to approximately $10,235,000.  The Partnership received excess
proceeds of approximately $1,241,000.  In 1992, the new mortgage loan was
modified, and, as part of the modification, the Partnership made a principal
payment of approximately $440,000 on the loan.

On March 31, 1997, the Partnership contracted to sell the property to an 
unaffiliated party, Harbour Realty Advisors, Inc.  The sale price is 
$11,000,000.  The purchaser has deposited $100,000 into an escrow account as 
earnest money and is required to deposit an additional $100,000 by April 15, 
1997.  The remaining $10,800,000 will be paid at closing, which is scheduled 
for May 15, 1997.  From the proceeds of the sale, the Partnership will repay 
the first mortgage loan which is expected to have an outstanding balance at 
closing of approximately $8,752,538.  As a part of the 1992 loan modification 
described above, the lender is also entitled to receive upon the sale an amount
equal to 25% of that portion of the sale price of the property which exceeds
$10,100,000.  The amount to be paid to the lender under this provision is
$225,000, based on the purchase price above.  The Partnership will pay $220,000
as a brokerage commission to an affiliate of the third party which manages the
property in connection with the sale of the property, and will receive the
remaining proceeds of approximately $1,802,000, less closing costs.  The
General Partner will be reimbursed by the Partnership for its actual expenses
incurred in connection with the sale.

The closing is subject to the satisfaction of numerous terms and conditions.
There can be no assurance that all of the terms and conditions will be complied
with and, therefore, it is possible the sale of the property may not occur.

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

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (2) (a)  Agreement of Sale and attachment thereto relating to the
                   sale of Courtyards of Kendall Apartments, Dade County, 
                   Florida.

              (b)  First Amendment to Agreement of Sale relating to the sale of
                   Courtyards of Kendall Apartments, Dade County, Florida.

No information is required under Items 1, 3, 4, 5, 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:  April 11, 1997
<PAGE>
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{"company-data": {"conformed-name": "BALCOR REALTY INVESTORS 84", "cik": "0000726927", "assigned-sic": "6500", "irs-number": "363215399", "state-of-incorporation": "IL", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-13349", "film-number": "97578640"}, "business-address": {"street1": "2355 WAUKEGAN ROAD", "street2": " SUITE A200D", "city": "DEERFIELD", "state": "IL", "zip": "60015", "phone": "7086772900"}, "mail-address": {"street1": "2355 WAUKEGAN ROAD", "street2": "SUITE A200", "city": "DEERFIELD", "state": "IL", "zip": "60015"}}
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)  March 31, 1997

                         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 2. Acquisition or Disposition of Assets
-----------------------------------------------------
Courtyards of Kendall Apartments

In 1984, the Partnership acquired the Courtyards of Kendall Apartments, Dade
County, Florida, utilizing approximately $6,313,320 in offering proceeds.  The
property was acquired subject to first mortgage financing of approximately
$8,691,260.  Pursuant to a 1988 refinancing, the outstanding loan balance was
increased to approximately $10,235,000.  The Partnership received excess
proceeds of approximately $1,241,000.  In 1992, the new mortgage loan was
modified, and, as part of the modification, the Partnership made a principal
payment of approximately $440,000 on the loan.

On March 31, 1997, the Partnership contracted to sell the property to an 
unaffiliated party, Harbour Realty Advisors, Inc.  The sale price is 
$11,000,000.  The purchaser has deposited $100,000 into an escrow account as 
earnest money and is required to deposit an additional $100,000 by April 15, 
1997.  The remaining $10,800,000 will be paid at closing, which is scheduled 
for May 15, 1997.  From the proceeds of the sale, the Partnership will repay 
the first mortgage loan which is expected to have an outstanding balance at 
closing of approximately $8,752,538.  As a part of the 1992 loan modification 
described above, the lender is also entitled to receive upon the sale an amount
equal to 25% of that portion of the sale price of the property which exceeds
$10,100,000.  The amount to be paid to the lender under this provision is
$225,000, based on the purchase price above.  The Partnership will pay $220,000
as a brokerage commission to an affiliate of the third party which manages the
property in connection with the sale of the property, and will receive the
remaining proceeds of approximately $1,802,000, less closing costs.  The
General Partner will be reimbursed by the Partnership for its actual expenses
incurred in connection with the sale.

The closing is subject to the satisfaction of numerous terms and conditions.
There can be no assurance that all of the terms and conditions will be complied
with and, therefore, it is possible the sale of the property may not occur.

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

     (A)  FINANCIAL STATEMENTS AND EXHIBITS:

            None

     (B)  PRO FORMA FINANCIAL INFORMATION:

            None

     (C)  EXHIBITS:

          (2) (a)  Agreement of Sale and attachment thereto relating to the
                   sale of Courtyards of Kendall Apartments, Dade County, 
                   Florida.

              (b)  First Amendment to Agreement of Sale relating to the sale of
                   Courtyards of Kendall Apartments, Dade County, Florida.

No information is required under Items 1, 3, 4, 5, 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:  April 11, 1997