Leaks are known to develop in the cooling system. It is common to see more than one part recommended for repair/replacement due to overlapping labor and the use of many plastic parts in the system.
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Newest reported 1997 BMW 540i problems
The front thrust rod bushings—also referred to as tension strut bushings—are known to fail occasionally. The oil-filled rubber mounts weaken and crack over time, causing a mushy road feel and shuddering in the steering wheel when going over bumps. These worn bushings should be replaced.
A creak or squeak can be heard from the top of the front or rear doors. This noise is most noticeable when the windows are fully up. The noise is caused by the decay of the flocking material on the door seals. New door seals, Teflon tape, special lube, or a combination of all of these may be needed to eliminate the noise.
The blower final stage fan resistor is known to fail. Symptoms are the heater fan speed varies regardless of the setting, the fan will not turn off when the car is switched off, or the fan will not switch on at all.