EXHIBIT 23.1
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
   
    We consent to the inclusion in Amendment No. 3 to this registration
statement on Form S-3 of our reports dated February 12, 1997 on our audits of
the financial statements and the financial statement schedule of First
Industrial, L.P. and the combined financial statements of the Contributing
Businesses and of the combined financial statements of the Other Real Estate
Partnerships and the incorporation by reference in Amendment No. 3 to this
registration statement on Form S-3 of our report dated February 12, 1997 on our
audits of the consolidated financial statements and the financial statement
schedule of First Industrial Realty Trust, Inc. and the combined financial
statements of the Contributing Businesses which is included in the 1996 Annual
Report on Form 10-K, and our report, dated February 11, 1997 on our audit of the
combined historical statement of revenues and certain expenses of the
Acquisition Properties which is included in the Form 8-K filed February 12, 1997
as amended by Form 8-K/A No. 1 filed April 10, 1997 and our report dated March
26, 1997 on our audit of the combined historical statement of revenues and
certain expenses of the Lazarus Burman Properties which is included in the Form
8-K/A No. 1 filed April 10, 1997. We also consent to the reference to our firm
under the caption "Experts."
    
 
                                          COOPERS & LYBRAND L.L.P.
 
   
Chicago, Illinois
April 30, 1997