Centerspace (CSR) 8-K 12 May 16 Other Events Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Apr. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	INVESTORS REAL ESTATE TRUST
Entity Central Index Key	798,359
Current Fiscal Year End Date	--04-30
Entity Filer Category	Large Accelerated Filer
Document Type	8-K
Amendment Flag	false
Document Period End Date	Apr. 30, 2015

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Apr. 30, 2015	Apr. 30, 2014
Real estate investments
Property owned		$ 1,546,367	$ 1,450,216
Less accumulated depreciation		(313,308)	(302,405)
Total property owned		1,233,059	1,147,811
Development in progress		153,994	104,609
Unimproved land		25,827	22,864
Total real estate investments	[1]	1,412,880	1,275,284
Other assets
Assets held for sale and assets of discontinued operations		463,103	457,307
Cash and cash equivalents		48,970	47,267
Other investments		329	329
Receivable arising from straight-lining of rents, net of allowance of $718 and $796, respectively		15,617	16,009
Accounts receivable, net of allowance of $438 and $248, respectively		2,865	8,454
Real estate deposits		2,489	145
Prepaid and other assets		3,174	3,948
Intangible assets, net of accumulated amortization of $19,610 and $17,286, respectively		26,213	30,895
Tax, insurance, and other escrow		10,073	16,225
Property and equipment, net of accumulated depreciation of $1,464 and $2,041, respectively		1,542	1,674
Goodwill		1,718	1,100
Deferred charges and leasing costs, net of accumulated amortization of $8,077 and $8,892, respectively		8,864	10,584
TOTAL ASSETS		1,997,837	1,869,221
LIABILITIES
Liabilities held for sale and liabilities of discontinued operations		321,393	332,731
Accounts payable and accrued expenses		56,399	45,117
Revolving line of credit		60,500	22,500
Mortgages payable		668,112	678,955
Construction debt and other		144,111	63,169
TOTAL LIABILITIES		$ 1,250,515	$ 1,142,472
COMMITMENTS AND CONTINGENCIES (NOTE 15)
REDEEMABLE NONCONTROLLING INTERESTS - CONSOLIDATED REAL ESTATE ENTITIES		$ 6,368	$ 6,203
Common Shares of Beneficial Interest (Unlimited authorization, no par value, 124,455,624 shares issued and outstanding at April 30, 2015, and 109,019,341 shares issued and outstanding at April 30, 2014)		951,868	843,268
Accumulated distributions in excess of net income		(438,432)	(389,758)
Total Investors Real Estate Trust shareholders' equity		652,110	592,184
Noncontrolling interests - Operating Partnership (13,999,725 units at April 30, 2015 and 21,093,445 units at April 30, 2014)		58,325	105,724
Noncontrolling interests - consolidated real estate entities		30,519	22,638
Total equity		740,954	720,546
TOTAL LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY		1,997,837	1,869,221
Preferred Class A [Member]
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)		27,317	27,317
Preferred Class B [Member]
Preferred Shares of Beneficial Interest (Cumulative redeemable preferred shares)		$ 111,357	$ 111,357
[1]	The net basis of the Company's real estate investments for Federal Income Tax purposes was $1.7 billion, $1.5 billion and $1.5 billion at April 30, 2015, 2014 and 2013, respectively.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Other assets
Intangible assets, accumulated amortization	$ 19,610	$ 17,286
Property and equipment, accumulated depreciation	1,464	2,041
Deferred charges and leasing costs, accumulated amortization	$ 8,077	$ 8,892
EQUITY
Common Shares of Beneficial Interest, no par value (in dollars per share)	$ 0	$ 0
Common Shares of Beneficial Interest, shares issued (in shares)	124,455,624	109,019,341
Common Shares of Beneficial Interest, shares outstanding (in shares)	124,455,624	109,019,341
Noncontrolling interests - Operating Partnership (in shares)	13,999,725	21,093,445
Receivable Arising from Straight-Lining of Rents [Member]
Other assets
Allowance for doubtful accounts receivable	$ 718	$ 796
Accounts Receivable [Member]
Other assets
Allowance for doubtful accounts receivable	$ 438	$ 248
Preferred Class A [Member]
EQUITY
Preferred Shares of Beneficial Interest, no par value (in dollars per share)	$ 0	$ 0
Preferred Shares of Beneficial Interest, shares issued (in shares)	1,150,000	1,150,000
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	1,150,000	1,150,000
Preferred Shares of Beneficial Interest, aggregate liquidation preference	$ 28,750,000	$ 28,750,000
Preferred Class B [Member]
EQUITY
Preferred Shares of Beneficial Interest, no par value (in dollars per share)	$ 0	$ 0
Preferred Shares of Beneficial Interest, shares issued (in shares)	4,600,000	4,600,000
Preferred Shares of Beneficial Interest, shares outstanding (in shares)	4,600,000	4,600,000
Preferred Shares of Beneficial Interest, aggregate liquidation preference	$ 115,000,000	$ 115,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
REVENUE
Real estate rentals	$ 181,261	$ 165,465	$ 151,083
Tenant reimbursement	19,734	19,914	18,650
TRS senior housing revenue	3,520	1,627	0
TOTAL REVENUE	204,515	187,006	169,733
EXPENSES
Depreciation/amortization related to real estate investments	50,886	49,153	41,602
Utilities	13,388	13,605	11,363
Maintenance	20,063	19,435	17,062
Real estate taxes	20,039	19,035	18,223
Insurance	4,760	4,090	2,801
Property management expenses	14,707	13,526	11,713
Other property expenses	876	114	1,008
TRS senior housing expenses	2,997	1,331	0
Administrative expenses	11,824	10,743	8,494
Other expenses	2,010	2,129	2,171
Amortization related to non-real estate investments	889	916	828
Impairment of real estate investments	4,663	7,700	0
TOTAL EXPENSES	147,102	141,777	115,265
Gain on involuntary conversion	0	2,480	5,084
Operating income	57,413	47,709	59,552
Interest expense	(40,071)	(39,619)	(40,441)
Interest income	2,238	1,906	220
Other income	718	242	512
Income (loss) before gain (loss) on sale of real estate and other investments and income from discontinued operations	20,298	10,238	19,843
Gain (loss) on sale of real estate and other investments	6,093	(51)	0
Income (loss) from continuing operations	26,391	10,187	19,843
Income from discontinued operations	2,293	(27,127)	10,129
NET INCOME (LOSS)	28,684	(16,940)	29,972
Net (income) loss attributable to noncontrolling interests - Operating Partnership	(1,526)	4,676	(3,633)
Net income attributable to noncontrolling interests - consolidated real estate entities	(3,071)	(910)	(809)
Net income (loss) attributable to Investors Real Estate Trust	24,087	(13,174)	25,530
Dividends to preferred shareholders	(11,514)	(11,514)	(9,229)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 12,573	$ (24,688)	$ 16,301
Earnings (loss) per common share from continuing operations - Investors Real Estate Trust - basic and diluted	$ 0.09	$ (0.01)	$ 0.08
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	0.02	(0.22)	0.09
NET INCOME (LOSS) PER COMMON SHARE - BASIC & DILUTED	$ 0.11	$ (0.23)	$ 0.17

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	PREFERRED SHARES [Member]	COMMON SHARES [Member]	ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	NONREDEEMABLE NONCONTROLLING INTERESTS [Member]	Total	Preferred Class A [Member]ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	Preferred Class A [Member]	Preferred Class B [Member]PREFERRED SHARES [Member]	Preferred Class B [Member]ACCUMULATED DISTRIBUTIONS IN EXCESS OF NET INCOME [Member]	Preferred Class B [Member]
Balance at Apr. 30, 2012	$ 27,317	$ 684,049	$ (278,377)	$ 132,274	$ 565,263
Balance (in shares) at Apr. 30, 2012	1,150	89,474
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests			25,530	4,437	29,967
Distributions - common shares and units			(48,265)		(59,250)
Distributions - common shares and units				(10,985)
Distributions - preferred shares					(9,229)	$ (2,372)	$ (2,372)		$ (6,857)	$ (6,857)
Distribution reinvestment and share purchase plan		$ 43,123			43,123
Distribution reinvestment and share purchase plan (in shares)		5,290
Shares issued and share-based compensation		$ 55,846			55,846
Shares issued and share-based compensation (in shares)		6,409
Series B preferred shares issued								$ 111,357		111,357
Series B preferred shares issued (in shares)								4,600
Partnership units issued				12,632	12,632
Redemption of units for common shares		$ 1,551		(1,551)	0
Redemption of units for common shares (in shares)		317
Contributions from nonredeemable noncontrolling interests consolidated real estate entities				6,483	6,483
Other		$ (115)		(633)	(748)
Other (in shares)		(2)
Balance at Apr. 30, 2013	$ 138,674	$ 784,454	(310,341)	142,657	755,444
Balance (in shares) at Apr. 30, 2013	5,750	101,488
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests			(13,174)	(4,033)	(17,207)
Distributions - common shares and units			(54,729)		(66,012)
Distributions - common shares and units				(11,283)
Distributions - preferred shares					(11,514)	(2,372)	(2,372)		(9,142)	(9,142)
Distribution reinvestment and share purchase plan		$ 55,793			55,793
Distribution reinvestment and share purchase plan (in shares)		6,615
Shares issued and share-based compensation		$ 112			112
Shares issued and share-based compensation (in shares)		13
Partnership units issued				3,480	3,480
Redemption of units for common shares		$ 4,353		(4,353)	0
Redemption of units for common shares (in shares)		903
Contributions from nonredeemable noncontrolling interests consolidated real estate entities				3,895	3,895
Other		$ (1,444)		(2,001)	(3,445)
Balance at Apr. 30, 2014	$ 138,674	$ 843,268	(389,758)	128,362	720,546
Balance (in shares) at Apr. 30, 2014	5,750	109,019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to Investors Real Estate Trust and noncontrolling interests			24,087	4,432	28,519
Distributions - common shares and units			(61,247)		(69,854)
Distributions - common shares and units				(8,607)
Distributions - preferred shares					(11,514)	$ (2,372)	$ (2,372)		$ (9,142)	$ (9,142)
Distribution reinvestment and share purchase plan		$ 64,856			64,856
Distribution reinvestment and share purchase plan (in shares)		8,102
Shares issued and share-based compensation		$ 2,626			2,626
Shares issued and share-based compensation (in shares)		151
Partnership units issued				800	800
Redemption of units for common shares		$ 41,264		(41,264)	0
Redemption of units for common shares (in shares)		7,183
Contributions from nonredeemable noncontrolling interests consolidated real estate entities				8,909	8,909
Distributions to nonredeemable noncontrolling interests - consolidated real estate entities				(3,926)	(3,926)
Other		$ (146)		138	(8)
Balance at Apr. 30, 2015	$ 138,674	$ 951,868	$ (438,432)	$ 88,844	$ 740,954
Balance (in shares) at Apr. 30, 2015	5,750	124,455

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 28,684	$ (16,940)	$ 29,972
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	52,872	52,441	47,283
Depreciation and amortization from discontinued operations	19,206	21,282	20,276
Gain on sale of real estate, land, other investments and discontinued operations	(6,093)	(6,948)	(6,885)
Gain on involuntary conversion	0	(2,480)	(5,084)
Impairment of real estate investments	6,105	44,426	305
Share-based compensation expense	2,215	0	0
Bad debt expense	967	434	665
Changes in other assets and liabilities:
Increase in receivable arising from straight-lining of rents	(64)	(2,293)	(2,733)
Decrease in accounts receivable	4,058	1,880	689
Increase in prepaid and other assets	(150)	(555)	(693)
Decrease (increase) in tax, insurance and other escrow	1,445	(1,046)	(325)
Increase in deferred charges and leasing costs	(2,300)	(4,708)	(5,946)
Increase in accounts payable, accrued expenses and other liabilities	7,234	7,021	194
Net cash provided by operating activities	114,179	92,514	77,718
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from real estate deposits	1,168	991	2,037
Payments for real estate deposits	(3,512)	(940)	(1,970)
Decrease in other investments	0	314	0
Decrease in lender holdbacks for improvements	10,738	3,780	1,891
Increase in lender holdbacks for improvements	(1,204)	(11,045)	(2,466)
Proceeds from sale of discontinued operations	0	78,879	20,009
Proceeds from sale of real estate and other investments	73,835	682	95
Insurance proceeds received	2,678	2,491	6,211
Payments for acquisitions of real estate assets	(38,704)	(38,283)	(76,020)
Payments for development and re-development of real estate assets	(189,091)	(123,744)	(57,649)
Payments for improvements of real estate assets	(22,986)	(26,814)	(17,331)
Payments for improvements of real estate assets from discontinued operations	(9,329)	(8,145)	(8,949)
Net cash used by investing activities	(176,407)	(121,834)	(134,142)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from mortgages payable	90,749	50,333	85,230
Principal payments on mortgages payable	(127,622)	(101,867)	(104,976)
Proceeds from revolving line of credit and other debt	55,000	12,500	20,500
Principal payments on revolving line of credit and other debt	(17,000)	0	(49,500)
Proceeds from construction debt	93,643	55,199	23,762
Principal payments on construction debt	(12,685)	(17,443)	(5,911)
Proceeds from financing liability	0	7,900	0
Proceeds from sale of common shares, net of issue costs	0	0	55,433
Proceeds from sale of common shares under distribution reinvestment and share purchase program	48,701	41,194	30,707
Proceeds from underwritten Public Offering of Preferred Shares - Series B, net of offering costs	0	0	111,357
Proceeds from noncontrolling partner - consolidated real estate entities	2,284	994	0
Payments for acquisition of noncontrolling interests - consolidated real estate entities	0	(2,505)	0
Distributions paid to common shareholders, net of reinvestment of $15,519, $13,965 and $11,802, respectively	(45,728)	(40,764)	(36,463)
Distributions paid to preferred shareholders	(11,514)	(11,514)	(8,467)
Distributions paid to noncontrolling interests - Unitholders of the Operating Partnership, net reinvestment of $636, $634 and $614, respectively	(7,971)	(10,649)	(10,371)
Distributions paid to noncontrolling interests - consolidated real estate entities	(3,926)	(924)	(733)
Net cash provided (used) by financing activities	63,931	(17,546)	110,568
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	1,703	(46,866)	54,144
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	47,267	94,133	39,989
CASH AND CASH EQUIVALENTS AT END OF YEAR	48,970	47,267	94,133
SUPPLEMENTARY SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Distribution reinvestment plan	15,519	13,965	11,802
Operating partnership distribution reinvestment plan	636	634	614
Operating partnership units converted to shares	41,264	4,353	1,551
Real estate assets acquired through the issuance of operating partnership units	800	3,480	12,632
Real estate assets acquired through assumption of indebtedness and accrued costs	12,169	0	12,500
Mortgages included in real estate dispositions	0	0	5,887
Increase (decrease) to accounts payable included within real estate investments	5,116	1,767	2,502
Real estate assets contributed by noncontrolling interests - consolidated real estate entities	6,624	2,901	12,415
Involuntary conversion of assets due to flood and fire damage	0	7,052	107
Construction debt reclassified to mortgages payable	0	0	13,650
Forfeiture of note payable in conjunction with sale of property	0	600	0
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest, net of amounts capitalized of $4,903, $2,855 and $742, respectively	$ 51,283	$ 54,071	$ 60,357

CONSOLIDATED STATEMENTS OF CAS7

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
CASH FLOWS FROM FINANCING ACTIVITIES
Distributions paid to common shareholders, net of reinvestment	$ 15,519	$ 13,965	$ 11,802
Distributions paid to noncontrolling interests - Unitholders of the Operating Partnership, net reinvestment	636	634	614
Cash paid for interest	$ 4,903	$ 2,855	$ 742

ORGANIZATION

ORGANIZATION	12 Months Ended
	Apr. 30, 2015
ORGANIZATION [Abstract]
ORGANIZATION	NOTE 1 · ORGANIZATION Investors Real Estate Trust (“IRET” or the “Company”) is a self-advised real estate investment trust engaged in acquiring, owning and leasing multifamily residential and commercial real estate. IRET has elected to be taxed as a Real Estate Investment Trust (“REIT”) under Sections 856-860 of the Internal Revenue Code of 1986, as amended. REITs are subject to a number of organizational and operational requirements, including a requirement to distribute 90% of ordinary taxable income to shareholders, and, generally, are not subject to federal income tax on net income, except for taxes on undistributed REIT taxable income and taxes on the income generated by our taxable REIT subsidiary (“TRS”). Our TRS is subject to corporate federal and state income tax on its taxable income at regular statutory rates. We have considered estimated future taxable income and have determined that there were no material income tax provisions or material net deferred income tax items for our TRS for the years ended April 30, 2015 and 2014. IRET’s multifamily properties and commercial properties are located mainly in the states of North Dakota and Minnesota, but also in the states of Colorado, Idaho, Iowa, Kansas, Missouri, Montana, Nebraska, South Dakota, Wisconsin and Wyoming. As of April 30, 2015, IRET owned 100 multifamily properties with approximately 11,844 apartment units and 149 commercial properties, consisting of healthcare, industrial and other commercial properties, totaling approximately 9.6 million net rentable square feet. Of the commercial properties, 66 properties containing approximately 5.0 million square feet of leasable space and having a total real estate investment amount net of accumulated depreciation of $416.0 million were classified as both held for sale and discontinued operations in fiscal year 2016. IRET conducts a majority of its business activities through its consolidated operating partnership, IRET Properties, a North Dakota Limited Partnership (the “Operating Partnership”), as well as through a number of other subsidiary entities. All references to IRET or the Company refer to Investors Real Estate Trust and its consolidated subsidiaries.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Apr. 30, 2015
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 · BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION The accompanying consolidated financial statements include the accounts of IRET and all subsidiaries in which it maintains a controlling interest. All intercompany balances and transactions are eliminated in consolidation. The Company’s fiscal year ends April 30th. The accompanying consolidated financial statements include the accounts of IRET and its general partnership interest in the Operating Partnership. The Company’s interest in the Operating Partnership was 89.9% and 83.8%, respectively, as of April 30, 2015 and 2014, which includes 100% of the general partnership interest. The limited partners have a redemption option that they may exercise. Upon exercise of the redemption option by the limited partners, IRET has the option of redeeming the limited partners’ interests (“Units”) for IRET common shares of beneficial interest, on a one-for-one basis, or for cash payment to the unitholder. The redemption generally may be exercised by the limited partners at any time after the first anniversary of the date of the acquisition of the Units (provided, however, that not more than two redemptions by a limited partner may occur during each calendar year, and each limited partner may not exercise the redemption for less than 1,000 Units, or, if such limited partner holds less than 1,000 Units, for all of the Units held by such limited partner). Some limited partners have contractually agreed to a holding period of greater than one year. The consolidated financial statements also reflect the ownership by the Operating Partnership of certain joint venture entities in which the Operating Partnership has a controlling interest. These entities are consolidated into IRET’s other operations with noncontrolling interests reflecting the noncontrolling partners’ share of ownership and income and expenses. RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Leases. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. RECLASSIFICATIONS Certain previously reported amounts have been reclassified to conform to the current financial statement presentation. On the Consolidated Statements of Operations, the Company reclassified advisory and trustee services to administrative expenses and also reclassified TRS senior housing revenue and TRS senior housing expenses from other income to TRS senior housing revenue and TRS senior housing expenses, respectively. The Company reports, in discontinued operations, the results of operations and any gain or loss on sale of a property or group of properties that has either been disposed of or is classified as held for sale and for which the disposition represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. As a result of discontinued operations, retroactive reclassifications that change prior period numbers have been made. See Note 12 for additional information. During fiscal year 2016, the Company classified as held for sale and discontinued operations 48 office properties, 17 retail properties and 1 healthcare property. These properties were subsequently sold during fiscal year 2016. The results of operations for these properties are included in income from discontinued operations in the Consolidated Statements of Operations. The assets and liabilities associated with these properties are included in assets held for sale and liabilities held for sale, respectively, in the Consolidated Balance Sheets. During fiscal year 2016, the Company reduced its number of reportable segments from five to three when its office and retail segments fell below the quantitative thresholds for reporting as reportable segments. Historical segment information has been reclassified in accordance with the Company’s current segment structure. REAL ESTATE INVESTMENTS Real estate investments are recorded at cost less accumulated depreciation and an adjustment for impairment, if any. Acquisitions of real estate are recorded based upon preliminary allocations of the purchase price which are subject to adjustment as additional information is obtained, but in no case more than one year after the date of acquisition. The Company allocates the purchase price based on the relative fair values of the tangible and intangible assets of an acquired property (which includes the land, building, and personal property) which are determined by valuing the property as if it were vacant and to fair value of the intangible assets (which include in-place leases.) The as-if-vacant value is allocated to land, buildings, and personal property based on management’s determination of the relative fair values of these assets. The estimated fair value of the property is the amount that would be recoverable upon the disposition of the property. Techniques used to estimate fair value include discounted cash flow analysis and reference to recent sales of comparables. A land value is assigned based on the purchase price if land is acquired separately or based on estimated fair value if acquired in a merger or in a single or portfolio acquisition. Acquired above- and below-market lease values are recorded as the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental revenue over the remaining terms of the respective leases, which includes fixed rate renewal options for below-market leases if it is determined probable the tenant will execute a bargain renewal option. Other intangible assets acquired include amounts for in-place lease values that are based upon the Company’s evaluation of the specific characteristics of the leases. Factors considered in the fair value analysis include an estimate of carrying costs and foregone rental income during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. The Company also considers information about each property obtained during its pre-acquisition due diligence, marketing and leasing activities in estimating the relative fair value of the tangible and intangible assets acquired. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The Company uses a 20-40 year estimated life for buildings and improvements and a 5-12 year estimated life for furniture, fixtures and equipment. The Company follows the real estate project costs guidance in ASC 970, Real Estate — General, Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements that improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful life, generally five to ten years. Property sales or dispositions are recorded when title transfers and sufficient consideration has been received by the Company and the Company has no significant involvement with the property sold. The Company periodically evaluates its long-lived assets, including its real estate investments, for impairment indicators. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions, expected holding period of each asset group and legal and environmental concerns. If indicators exist, the Company compares the expected future undiscounted cash flows for the long-lived asset group against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recorded for the difference between the estimated fair value and the carrying amount of the asset group. If our anticipated holding period for properties, the estimated fair value of properties or other factors change based on market conditions or otherwise, our evaluation of impairment charges may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses. During fiscal year 2015, the Company incurred a non-cash loss of $6.1 million due to impairment of four commercial properties and two parcels of unimproved land of which $1.4 million is reflected in discontinued operations. The Company recognized impairments of $2.1 million on a retail property in Kalispell, Montana, approximately $183,000 on an office property in Golden Valley, Minnesota, $1.8 million on an office property in Minneapolis, Minnesota, $1.4 million on an office property in Boise, Idaho, approximately $98,000 on unimproved land in Eagan, Minnesota, and approximately $442,000 on unimproved land in Weston, Wisconsin. These properties were written-down to estimated fair value during fiscal year 2015 based on receipt of individual market offers to purchase and the Company’s intent to dispose of the properties or, in the case of the Boise and Weston properties, an independent appraisal. The Kalispell and Golden Valley properties were sold in the second quarter of fiscal year 2015. The Minneapolis property is classified as held for sale at April 30, 2015. During fiscal year 2014, the Company incurred a non-cash loss of $44.4 million due to impairment of 15 properties, of which $36.7 million is reflected in discontinued operations. See Note 12 for additional information on discontinued operations. The Company recognized impairments of approximately $864,000 on an industrial property in St. Louis Park, Minnesota; $329,000 on an office property in Bloomington, Minnesota; $265,000 on a retail property in Anoka, Minnesota; $402,000 on an industrial property in Clive, Iowa and $4.8 million on an industrial property in Roseville, Minnesota. These properties were written-down to estimated fair value based on receipt of individual market offers to purchase and the Company’s intent to dispose of the properties or, in the case of the Roseville, Minnesota property, a commitment to dispose of a significant portion of the property due to planned redevelopment. The approximately $835,000 impairment of the Company’s Edina, Minnesota, office property was based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the fourth quarter of fiscal year 2014). This property was classified as held for sale at April 30, 2014. An impairment loss of $2.1 million was recognized during fiscal year 2014 for the Company’s Golden Valley, Minnesota, office property based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the first quarter of fiscal year 2015). The Company recognized in the fourth quarter of fiscal year 2014 a $34.9 million impairment loss on eight office properties located in four states. These properties are part of a portfolio of nine office properties securing a $122.6 million non-recourse CMBS loan with a maturity date of October 6, 2016. Due to concerns over the borrower’s ability to refinance the portfolio at loan maturity, the Company revised its assumptions regarding the holding period of these properties. The Company commissioned a third-party appraisal of the properties, the result of which indicated a fair value of the portfolio below net book value, and, accordingly, an impairment loss was recorded for the difference. Because the loan amount significantly exceeded the Company’s estimate of the fair value of this nine-property portfolio, the Company initiated discussions with the special servicer to discuss various alternatives with regard to the loan. On April 14, 2015, the Company received a default notice regarding the $122.6 million non-recourse loan between a Company subsidiary as borrower and Citigroup Global Markets Realty Corp as lender due to a nonpayment on April 6, 2015. The Company cannot predict the outcome of the discussions with the special servicer on this loan. During fiscal year 2013, the Company incurred a loss of approximately $305,000 due to impairment of one property. The impairment of the Company’s Eagan, Minnesota, retail property was based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the fourth quarter of fiscal year 2013). The impairment charge for fiscal year 2013 is reported in discontinued operations. See Note 12 for additional information. REAL ESTATE HELD FOR SALE Real estate held for sale is stated at the lower of its carrying amount or estimated fair value less disposal costs. The Company’s determination of fair value is based on inputs management believes are consistent with those that market participants would use. Estimates are significantly impacted by estimates of sales price, selling velocity, and other factors. Due to uncertainties in the estimation process, actual results could differ from such estimates. Depreciation is not recorded on assets classified as held for sale. Properties are classified as held for sale when they meet the necessary criteria, which include: (a) management, having the authority to approve the action, commits to a plan to sell the asset and (b) the sale of the asset is probable and expected to be completed within one year. The Company generally considers these criteria met when the transaction has been approved by our Board of Directors, there are no known significant contingencies related to the sale and management believes it is probable that the sale will be completed within one year. During fiscal year 2016, the Company classified as held for sale and discontinued operations 48 office properties, 17 retail properties and 1 healthcare property. One office property and one medical property were classified as held for sale at April 30, 2015, with assets of $22.9 million and liabilities of $138.8 million. An office property was classified as held for sale at April 30, 2014. Prior to February 1, 2014, the Company reported, in discontinued operations, the results of operations and the related gains or losses of properties that had either been disposed of or classified as held for sale and otherwise met the classification of a discontinued operation. Effective February 1, 2014 the Company adopted ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity As a result of the adoption of ASU 2014-08, results of operations and gains or losses on sale for properties that are disposed or classified as held for sale in the ordinary course of business on or subsequent to February 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations, to the extent such disposals did not meet the criteria for classification as a discontinued operation described above. IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL Upon acquisition of real estate, the Company records the intangible assets and liabilities acquired (for example, if the leases in place for the real estate property acquired carry rents above the market rent, the difference is classified as an intangible asset) at their estimated fair value separate and apart from goodwill. The Company amortizes identified intangible assets and liabilities that are determined to have finite lives based on the period over which the assets and liabilities are expected to affect, directly or indirectly, the future cash flows of the real estate property acquired (generally the life of the lease). In the twelve months ended April 30, 2015 and 2014, respectively, the Company added approximately $416,000 and $900,000 of new intangible assets and no new intangible liabilities. The weighted average lives of the intangible assets acquired in the twelve months ended April 30, 2015 and 2014 are 0.5 years and 0.7 years, respectively. Amortization of intangibles related to above or below-market leases is recorded in real estate rentals in the Consolidated Statements of Operations. Amortization of other intangibles is recorded in depreciation/amortization related to real estate investments in the Consolidated Statements of Operations. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and its carrying amount exceeds its estimated fair value. The excess of the cost of an acquired business over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Goodwill book value as of April 30, 2015 and 2014 was $1.9 million and $1.1 million, respectively. The annual reviews of goodwill compared the fair value of the reporting units that have been assigned goodwill to their carrying value (investment cost less accumulated depreciation), with the results for these periods indicating no impairment. In fiscal year 2015, the Company recognized approximately $852,000 of goodwill from the acquisition of the Homestead Garden residential property and disposed of one residential property and two commercial properties to which goodwill had been assigned, and as a result, approximately $40,000 of goodwill was derecognized. In fiscal years 2014 and 2013, the Company disposed of property that had goodwill assigned, and as a result, approximately $7,000 and $14,000, respectively, of goodwill was derecognized. PROPERTY AND EQUIPMENT Property and equipment consists of the equipment contained at IRET’s headquarters in Minot, North Dakota, corporate offices in Minneapolis and St. Cloud, Minnesota, and additional property management offices located in the states where we own properties. The balance sheet reflects these assets at cost, net of accumulated depreciation. As of April 30, 2015 and 2014, property and equipment cost was $3.0 million and $3.7 million, respectively. Accumulated depreciation was $1.5 million and $2.0 million as of April 30, 2015 and 2014, respectively. CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash and highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents consist of the Company’s bank deposits and short-term investment certificates acquired subject to repurchase agreements, and the Company’s deposits in a money market mutual fund. At times these deposits may exceed the FDIC limit. COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS The Company maintains compensating balances, not restricted as to withdrawal, with several financial institutions in connection with financing received from those institutions and/or to ensure future credit availability. At April 30, 2015 the Company’s compensating balances totaled $14.3 million and consisted of the following: First International Bank, Watford City, North Dakota, deposit of $6.1 million; Private Bank, Minneapolis, Minnesota, deposit of $2.0 million; Associated Bank, Green Bay, Wisconsin, deposit of $3.6 million; American National Bank, Omaha, Nebraska, deposit of $400,000; Dacotah Bank, Minot, North Dakota, deposit of $350,000; United Community Bank, Minot, North Dakota, deposit of $275,000; Peoples State Bank of Velva, North Dakota, deposit of $225,000; Commerce Bank, a Minnesota Banking Corporation, deposit of $100,000; and Bremer Bank, Saint Paul, Minnesota, deposit of $1.3 million. The deposit at United Community Bank and a portion of the deposit at Dacotah Bank are held as certificates of deposit and comprise the approximately $329,000 in other investments on the Consolidated Balance Sheets. The certificates of deposit have remaining terms of six months and two years and the Company intends to hold them to maturity. The Company has a number of mortgage loans under which the lender retains a portion of the loan proceeds for the payment of construction costs or tenant improvements. The decrease of $10.7 million in lender holdbacks for improvements reflected in the Consolidated Statements of Cash Flows for the fiscal year ended April 30, 2015 is due primarily to the release of loan proceeds to the Company upon completion of these construction milestones and tenant improvement projects, while the increase of $1.2 million represents additional amounts retained by lenders for new projects. ALLOWANCE FOR DOUBTFUL ACCOUNTS Management evaluates the appropriate amount of the allowance for doubtful accounts by assessing the recoverability of individual real estate mortgage loans and rent receivables, through a comparison of their carrying amount with their estimated realizable value. Management considers tenant financial condition, credit history and current economic conditions in establishing these allowances. Receivable balances are written off when deemed uncollectible. Recoveries of receivables previously written off, if any, are recorded when received. A summary of the changes in the allowance for doubtful accounts for fiscal years ended April 30, 2015, 2014 and 2013 is as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 1,044 $ 1,393 $ 1,363 Provision 967 434 665 Write-off (855 ) (783 ) (635 ) Balance at close of year $ 1,156 $ 1,044 $ 1,393 TAX, INSURANCE, AND OTHER ESCROW Tax, insurance, and other escrow includes funds deposited with a lender for payment of real estate tax and insurance, and reserves for funds to be used for replacement of structural elements and mechanical equipment of certain projects. The funds are under the control of the lender. Disbursements are made after supplying written documentation to the lender. REAL ESTATE DEPOSITS Real estate deposits include funds held by escrow agents to be applied toward the purchase of real estate or the payment of loan costs associated with loan placement or refinancing. DEFERRED CHARGES AND LEASING COSTS Costs and commissions incurred in obtaining tenant leases are amortized on the straight-line method over the terms of the related leases. Costs incurred in obtaining long-term financing are amortized to interest expense over the life of the loan using the straight-line method, which approximates the effective interest method. INCOME TAXES IRET operates in a manner intended to enable it to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to shareholders. For the fiscal years ended April 30, 2015, 2014 and 2013, the Company distributed in excess of 90% of its taxable income and realized capital gains from property dispositions within the prescribed time limits; accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate rates (including any alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, the Company may be subject to certain state and local income and property taxes, and to federal income and excise taxes on undistributed taxable income. In general, however, if the Company qualifies as a REIT, no provisions for federal income taxes are necessary except for taxes on undistributed REIT taxable income and taxes on the income generated by a taxable REIT subsidiary (TRS). The Company has one TRS, acquired during the second quarter of fiscal year 2014, which is subject to corporate federal and state income taxes on its taxable income at regular statutory rates. For fiscal year 2015, the Company estimates that the TRS will have no taxable income. There were no income tax provisions or material deferred income tax items for our TRS for the fiscal years ended April 30, 2015 and 2014. The Company’s TRS is the tenant in the Company’s Legends at Heritage Place senior housing facility. IRET conducts its business activity as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) through its Operating Partnership. UPREIT status allows IRET to accept the contribution of real estate in exchange for Units. Generally, such a contribution to a limited partnership allows for the deferral of gain by an owner of appreciated real estate. Distributions for the calendar year ended December 31, 2014 were characterized, for federal income tax purposes, as 25.74% ordinary income, 23.09% capital gain and 51.17% return of capital. Distributions for the calendar year ended December 31, 2013 were characterized, for federal income tax purposes, as 28.41% ordinary income, 3.09% capital gain and 68.50% return of capital. REVENUE RECOGNITION Residential rental properties are leased under operating leases with terms generally of one year or less. Commercial properties are leased under operating leases to tenants for various terms generally exceeding one year. Lease terms often include renewal options. Rental revenue is recognized on the straight-line basis, which averages minimum required rents over the terms of the leases. Rents recognized in advance of collection are reflected as receivable arising from straight-lining of rents, net of allowance for doubtful accounts. Rent concessions, including free rent, are amortized on a straight-line basis over the terms of the related leases. Reimbursements from tenants for real estate taxes and other recoverable operating expenses are recognized as revenue in the period the applicable expenditures are incurred. IRET receives payments for these reimbursements from substantially all of its tenants at multi-tenant commercial properties throughout the year. A number of the commercial leases provide for a base rent plus a percentage rent based on gross sales in excess of a stipulated amount. These percentage rents are recorded once the required sales level is achieved. NET INCOME PER SHARE Basic net income per share is computed as net income available to common shareholders divided by the weighted average number of common shares outstanding for the period. The Company has no potentially dilutive financial interests; the potential exchange of Units for common shares will have no effect on net income per share because Unitholders and common shareholders effectively share equally in the net income of the Operating Partnership. PROCEEDS FROM FINANCING LIABILITY During the first quarter of fiscal year 2014, the Company sold a non-core assisted living property in exchange for $7.9 million in cash and a $29.0 million contract for deed which matures August 1, 2018. The buyer leased the property back to the Company, and also granted an option to the Company to repurchase the property at a specified price at or prior to July 31, 2018. IRET accounted for the transaction as a financing due to the Company’s continuing involvement with the property and recorded the $7.9 million in sales proceeds within other liabilities on the Consolidated Balance Sheets. The balance of the liability as of April 30, 2015 is $7.9 million. VARIABLE INTEREST ENTITY On November 27, 2012, the Company entered into a joint venture operating agreement with a real estate development company to construct an apartment project in Minot, North Dakota as IRET — Minot Apartments, LLC. The Company estimated total costs for the project at $52.2 million, with approximately 69% of the project financed with third-party debt and approximately 7% financed with debt from IRET to the joint venture entity. The first phase of the project, Landing at Southgate, was substantially completed in the second quarter of fiscal year 2014. The second phase of the project, Commons at Southgate, was substantially completed in the third quarter of fiscal year 2015. As of April 30, 2015, IRET is the approximately 52.9% owner of the joint venture and has management and leasing responsibilities; the real estate development company owns approximately 47.1% of the joint venture and was responsible for the development and construction of the property. The Company has determined that the joint venture is a variable interest entity (“VIE”), primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support. The Company has also determined that IRET is the primary beneficiary of the VIE due to the fact that IRET is providing more than 50% of the equity contributions, the subordinated debt and a guarantee on the third party debt and has the power to direct the most significant activities that impact the entity’s economic performance. On June 12, 2014, the Company entered into a INVOLUNTARY CONVERSION OF ASSETS In June 2011, both the Company’s Minot Arrowhead retail property and Chateau Apartments property, which at that time consisted of two 32-unit buildings, were extensively damaged by a flood. In February 2012, one of the buildings of the Chateau Apartments property, which had been undergoing restoration work following the flood, was completely destroyed by fire (the “2012 Fire”). Final settlement of the flood insurance claim was reached in fiscal year 2013 with total proceeds received of $8.5 million for flood clean-up costs and redevelopment. Final settlement of the 2012 Fire insurance claim was reached in fiscal year 2014 with total proceeds received of $5.1 million for redevelopment. Insurance proceeds for these events exceeded the basis in the assets requiring replacement, resulting in recognition of the following gains from involuntary conversion in fiscal years 2014 and 2013: (in thousands) Year Ended April 30, 2014 2013 Gain on involuntary conversion Flood $ 0 $ 2,821 2012 Fire 2,480 2,263 Total gain on involuntary conversion $ 2,480 $ 5,084 Final settlement was reached during fiscal year 2013 for business interruption claims from the flood and 2012 Fire with proceeds received during fiscal years 2013 of approximately $409,000. Reimbursement for business interruption is included within real estate rentals in the Consolidated Statements of Operations. In December 2013, 15-unit and 57-unit buildings at the Chateau Apartments property were destroyed by fire (the “2013 Fire”). Both buildings were under construction and were unoccupied. The Company is rebuilding both buildings, and expects them to be completed in the first quarter of fiscal year 2016. The Company received proceeds for the 2013 Fire claim of $1.0 million in fiscal year 2014 and $6.0 million fiscal 2015, which reduced to zero the accounts receivable recorded at the time of the fire for expected proceeds. No gain or loss on involuntary conversion was recorded due to the settlement of the claim.

CREDIT RISK

CREDIT RISK	12 Months Ended
	Apr. 30, 2015
CREDIT RISK [Abstract]
CREDIT RISK	NOTE 3 · CREDIT RISK The Company is potentially exposed to credit risk for cash deposited with FDIC-insured financial institutions in accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. IRET has entered into a cash management arrangement with First Western Bank (the “Bank”) with respect to deposit accounts that exceed FDIC Insurance coverage. On a daily basis, account balances are swept into a repurchase account. The Bank pledges fractional interests in US Government Securities owned by the Bank at an amount equal to the excess over the uncollected balance in the repurchase account. The amounts deposited by IRET pursuant to the repurchase agreement are not insured by FDIC. At April 30, 2015 and 2014, these amounts totaled $9.7 million and $14.4 million, respectively.

PROPERTY OWNED

PROPERTY OWNED	12 Months Ended
	Apr. 30, 2015
PROPERTY OWNED [Abstract]
PROPERTY OWNED	NOTE 4 · PROPERTY OWNED Property, consisting principally of real estate, is stated at cost less accumulated depreciation and totaled $1.4 billion and $1.3 billion as of April 30, 2015, and 2014, respectively. Construction period interest of approximately $4.9 million, $2.9 million, and $742,000 has been capitalized for the years ended April 30, 2015, 2014, and 2013, respectively. The future minimum lease receipts to be received under non-cancellable leases for commercial properties, including those held for sale, as of April 30, 2015, assuming that no options to renew or buy out the lease are exercised, are as follows: Year Ended April 30, (in thousands) 2016 $ 112,320 2017 99,963 2018 84,455 2019 70,049 2020 52,576 Thereafter 130,313 $ 549,676 See Real Estate Investments within Note 2 for information about impairment losses recorded during fiscal years 2015 and 2014.

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Apr. 30, 2015
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES [Abstract]
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	NOTE 5 · IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES The Company’s identified intangible assets and intangible liabilities at April 30, 2015 and 2014 were as follows: (in thousands) April 30, 2015 April 30, 2014 Identified intangible assets (included in intangible assets): Gross carrying amount $ 45,823 $ 48,181 Accumulated amortization (19,610 ) (17,286 ) Net carrying amount $ 26,213 $ 30,895 Identified intangible liabilities (included in other liabilities): Gross carrying amount $ 82 $ 127 Accumulated amortization (61 ) (90 ) Net carrying amount $ 21 $ 37 The effect of amortization of acquired below-market leases and acquired above-market leases reduced rental income by approximately $24,000, $25,000 and $29,000 for the twelve months ended April 30, 2015, 2014 and 2013, respectively. The estimated annual amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years is as follows: Year Ended April 30, (in thousands) 2016 $ 22 2017 11 2018 (3 ) 2019 (3 ) 2020 (1 ) Amortization of all other identified intangible assets (a component of depreciation/amortization related to real estate investments) was $5.0 million, $7.4 million and $4.2 million for the twelve months ended April 30, 2015, 2014 and 2013, respectively. The estimated annual amortization of all other identified intangible assets for each of the five succeeding fiscal years is as follows: Year Ended April 30, (in thousands) 2016 $ 4,000 2017 3,698 2018 3,469 2019 3,433 2020 3,390

NONCONTROLLING INTERESTS

NONCONTROLLING INTERESTS	12 Months Ended
	Apr. 30, 2015
NONCONTROLLING INTERESTS [Abstract]
NONCONTROLLING INTERESTS	NOTE 6 · NONCONTROLLING INTERESTS Interests in the Operating Partnership held by limited partners are represented by Units. The Operating Partnership’s income is allocated to holders of Units based upon the ratio of their holdings to the total Units outstanding during the period. Capital contributions, distributions, and profits and losses are allocated to noncontrolling interests in accordance with the terms of the Operating Partnership agreement. IRET reflects noncontrolling interests in consolidated real estate entities on the balance sheet for the portion of properties consolidated by IRET that are not wholly owned by IRET. The earnings or losses from these properties attributable to the noncontrolling interests are reflected as net income attributable to noncontrolling interests — consolidated real estate entities in the Consolidated Statements of Operations. During the fourth quarter of fiscal year 2015, IRET - Jamestown Medical Building, LLC disposed of the sole property held by the entity. The Company’s noncontrolling interests — consolidated real estate entities at April 30, 2015 and 2014 were as follows: (in thousands) April 30, 2015 April 30, 2014 IRET-71 France, LLC $ 8,630 $ 0 IRET-Cypress Court Apartments, LLC 1,089 1,127 IRET-RED 20, LLC 3,072 3,277 IRET-Williston Garden Apartments, LLC 3,090 2,804 IRET - Jamestown Medical Building, LLC 0 1,219 IRET - WRH 1, LLC 6,138 5,672 Mendota Properties LLC 7,294 7,333 WRH Holding, LLC 1,206 1,206 Noncontrolling interests — consolidated real estate entities $ 30,519 $ 22,638

LINE OF CREDIT

LINE OF CREDIT	12 Months Ended
	Apr. 30, 2015
LINE OF CREDIT [Abstract]
LINE OF CREDIT	NOTE 7 · LINE OF CREDIT As of April 30, 2015, the Company, through its Operating Partnership as Borrower, had one secured line of credit with First International Bank and Trust, Watford City, North Dakota, as lead bank. This line of credit matures on September 1, 2017. The facility had, as of April 30, 2015, lending commitments of $90.0 million. Participants in this secured credit facility as of April 30, 2015 included, in addition to First International Bank, the following financial institutions: The Bank of North Dakota; First Western Bank and Trust; Dacotah Bank; United Community Bank; American State Bank & Trust Company; Town & Country Credit Union; Highland Bank and United Bankers’ Bank. As of April 30, 2015, the Company had advanced $60.5 million under the line of credit. The line of credit has a minimum outstanding principal balance requirement of $17.5 million. The interest rate on borrowings under the facility is the Wall Street Journal Prime Rate +1.25%, with a floor of 4.75% and a cap of 8.65% during the initial term of the facility; interest-only payments are due monthly based on the total amount of advances outstanding. The line of credit may be prepaid at par at any time. The facility includes covenants and restrictions requiring the Company to achieve on a calendar quarter basis a debt service coverage ratio on borrowing base collateral of 1.25x in the aggregate and 1.00x on individual assets in the collateral pool, and the Company is also required to maintain minimum depository account(s) totaling $6.0 million with First International, of which $1.5 million is to be held in a non-interest bearing account. As of April 30, 2015, 15 properties with a total cost of $136.1 million collateralized this line of credit. As of April 30, 2015, the Company believes it is in compliance with the facility covenants. This credit facility is summarized in the following table: Weighted (in thousands) Average Int. Financial Institution Amount Amount Amount Applicable Maturity Rate on First International Bank & Trust $ 90,000 $ 60,500 $ 22,500 4.75 % 9/1/17 4.75 %

MORTGAGES PAYABLE AND CONSTRUCT

MORTGAGES PAYABLE AND CONSTRUCTION DEBT	12 Months Ended
	Apr. 30, 2015
MORTGAGES PAYABLE AND CONSTRUCTION DEBT [Abstract]
MORTGAGES PAYABLE AND CONSTRUCTION DEBT	NOTE 8 · MORTGAGES PAYABLE AND CONSTRUCTION DEBT Most of the properties owned by the Company individually serve as collateral for separate mortgage loans on single properties or groups of properties. The majority of these mortgages payable are non-recourse to the Company, other than for standard carve-out obligations such as fraud, waste, failure to insure, environmental conditions and failure to pay real estate taxes. Interest rates on mortgages payable range from 2.68% to 8.25%, and the mortgages have varying maturity dates from June 1, 2015, through July 1, 2036. As of April 30, 2015, the management of the Company believes there are no defaults or material compliance issues in regards to any of these mortgages payable other than one $122.6 million non-recourse loan by a Company subsidiary, for which we’ve received a default notice from the special servicer on April 14, 2015 due to nonpayment on April 6, 2015. The aggregate estimated fair value of the assets securing this loan is less than the outstanding loan balance of $122.6 million. This loan matures in October 2016 and has an interest rate of 5.93%. The Company cannot predict the outcome of the discussions with the special servicer on this loan. Of the mortgages payable, the balance of fixed rate mortgages totaled $629.8 million and $666.0 million at April 30, 2015 and 2014, respectively, and the balances of variable rate mortgages totaled $38.3 million and $13.0 million as of April 30, 2015, and 2014, respectively. The Company does not utilize derivative financial instruments to mitigate its exposure to changes in market interest rates. Most of the fixed rate mortgages have substantial pre-payment penalties. As of April 30, 2015, the weighted-average rate of interest on the Company’s mortgage debt, excluding mortgages on properties held for sale, was 4.95%, compared to 5.16% on April 30, 2014. The aggregate amount of required future principal payments on mortgages payable as of April 30, 2015, excluding $11.5 million in outstanding mortgage indebtedness related to assets held for sale, is as follows: Year Ended April 30, (in thousands) 2016 $ 95,870 2017 41,549 2018 51,984 2019 90,716 2020 72,060 Thereafter 315,933 Total payments $ 668,112 In addition to the individual first mortgage loans comprising the Company’s $668.1 million of mortgage indebtedness, the Company’s revolving, multi-bank secured line of credit discussed in Note 7 is secured as of April 30, 2015, by mortgages on 15 Company properties. This line of credit is not included in the Company’s mortgage indebtedness total. The Company currently has 48 unencumbered properties. The Company’s construction debt totaled $136.2 million and $63.1 million on April 30 2015 and 2014, respectively. The weighted average rate of interest on the construction debt as of April 30, 2015 was 3.38%, compared to 3.08% as of April 30, 2014. The total available to be drawn on the construction loans was $102.7 million at April 30, 2015.

TRANSACTIONS WITH RELATED PARTI

TRANSACTIONS WITH RELATED PARTIES	12 Months Ended
	Apr. 30, 2015
TRANSACTIONS WITH RELATED PARTIES [Abstract]
TRANSACTIONS WITH RELATED PARTIES	NOTE 9 · TRANSACTIONS WITH RELATED PARTIES BANKING SERVICES — FIRST INTERNATIONAL BANK AND TRUST The Company has an ongoing banking relationship with First International Bank and Trust, Watford City, North Dakota (“First International”). Stephen L. Stenehjem, a member of the Company’s Board of Trustees, is the President and Chairman of First International and the Chief Executive Officer of Watford City BancShares, Inc., its bank holding company, and the bank holding company is owned by Mr. Stenehjem and members of his family. For a portion of fiscal year 2015, the Company had one mortgage loan outstanding with First International, with an original principal balance of $13.7 million (Williston Garden) bearing interest at 5.5% per annum; this loan was repaid in the second quarter of fiscal year 2015. The Company also has a construction loan with First International for $43.7 million to finance the development of the Renaissance Heights I residential property in Williston, North Dakota. At April 30, 2015, the construction loan had a balance of $37.7 million bearing interest at 5.0% per annum. The Company paid interest on these loans of approximately $325,000 and $1.4 million, respectively, in fiscal year 2015. The Company has a multi-bank line of credit with a capacity of $90.0 million, of which First International is the lead bank and a participant with an $11.0 million commitment. In fiscal year 2015, the Company paid First International a total of approximately $245,000 in interest on First International’s portion of the outstanding balance of this credit line, and paid fees of $40,000. In connection with this multi-bank line of credit, the Company maintains compensating balances with First International totaling $6.0 million, of which $1.5 million is held in a non-interest bearing account, and $4.5 million is held in an account that pays the Company interest on the deposited amount of 0.20% per annum. The Company also maintains checking accounts with First International. In fiscal year 2015, the Company paid less than $500 in total in various bank service and other fees charged on these checking accounts. In fiscal years 2014 and 2013, the Company paid interest and fees on outstanding mortgage and construction loans of approximately $1.0 million and $975,000, respectively. In fiscal years 2014 and 2013, respectively, the Company paid First International $125,000 and $196,000 in interest on First International’s portion of the multi-bank line of credit and paid fees of $40,000 in both years. Also in both fiscal years 2014 and 2013, the Company paid under $500 in total in various bank service and other fees charged on checking accounts maintained with First International. Total payments of interest and fees from the Company to First International Bank were approximately $2.0 million, $1.2 million and $1.2 million in fiscal years 2015, 2014 and 2013, respectively. LEASE TRANSACTION In fiscal year 2013, the Company entered into an agreement with First International to construct an approximately 3,700 square-foot building on an outlot of the Company’s Arrowhead Shopping Center in Minot, North Dakota, to be leased by First International under a 20-year lease for use as a branch bank location. The project was completed in fiscal year 2013 at a cost of $1.3 million. Net rental payments under the lease are estimated to be approximately $2.4 million in total over the 20-year lease term. Net rental payments received in fiscal years 2015, 2014 and 2013 totaled $109,000, $109,000 and $11,000, respectively. SALES AGREEMENT The Company has an investment banking relationship with

ACQUISITIONS, DEVELOPMENT PROJE

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS	12 Months Ended
	Apr. 30, 2015
ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS [Abstract]
ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS	NOTE 10 · ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS PROPERTY ACQUISITIONS IRET Properties added approximately $56.3 million of real estate properties to its portfolio through property acquisitions during fiscal year 2015, compared to $43.6 million in fiscal year 2014. The Company expensed approximately $216,000 and $176,000 of transaction costs related to the acquisitions in fiscal years 2015 and 2014, respectively. The fiscal year 2015 and 2014 acquisitions are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Total Form of Consideration Investment Allocation Acquisition Intangible Acquisitions Date Acquired Cost Cash Units(1) Other(2) Land Building Assets Multifamily 152 unit - Homestead Garden - Rapid City, SD(3) 2014-06-02 $ 15,000 $ 5,092 $ 0 $ 9,908 $ 655 $ 14,139 $ 206 52 unit - Silver Springs - Rapid City, SD 2014-06-02 3,280 1,019 0 2,261 215 3,006 59 68 unit - Northridge - Bismarck, ND 2014-09-12 8,500 8,400 100 0 884 7,516 100 119 unit - Legacy Heights - Bismarck, ND(4) 2015-03-19 15,000 14,300 700 0 1,207 13,742 51 41,780 28,811 800 12,169 2,961 38,403 416 Unimproved Land Creekside Crossing - Bismarck, ND 2014-05-22 4,269 4,269 0 0 4,269 0 0 PrairieCare Medical - Brooklyn Park, MN 2014-06-05 2,616 2,616 0 0 2,616 0 0 71 France Phase I - Edina, MN(5) 2014-06-12 1,413 0 0 1,413 1,413 0 0 Monticello 7 th Addition - Monticello, MN 2014-10-09 1,660 1,660 0 0 1,660 0 0 71 France Phase II & III - Edina, MN(5) 2014-11-04 3,309 0 0 3,309 3,309 0 0 Minot 1525 24 th Ave SW - Minot, ND 2014-12-23 1,250 1,250 0 0 1,250 0 0 14,517 9,795 0 4,722 14,517 0 0 Total Property Acquisitions $ 56,297 $ 38,606 $ 800 $ 16,891 $ 17,478 $ 38,403 $ 416 (1) Value of limited partnership units of the Operating Partnership at the acquisition date. (2) Consists of assumed debt (Homestead Garden I: $9.9 million, Silver Springs: $2.3 million) and value of land contributed by the joint venture partner (71 France: $4.7 million). (3) At acquisition the Company adjusted the assumed debt to fair value and recognized approximately $852,000 of goodwill. (4) At acquisition, the purchase price included assets in development (land: $804,000, building: $7.8 million, escrow $1.3 million). (5) Land was contributed to a joint venture in which the Company has an approximately 52.6% interest. The joint venture is consolidated in IRET’s financial statements. Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Total Form of Consideration Investment Allocation Acquisition Intangible Acquisitions Date Acquired Cost Cash Units(1) Other(2) Land Building Assets Multifamily 71 unit - Alps Park - Rapid City, SD 2013-05-01 $ 6,200 $ 2,920 $ 3,280 $ 0 $ 287 $ 5,551 $ 362 96 unit - Southpoint - Grand Forks, ND 2013-09-05 10,600 10,400 200 0 576 9,893 131 24 unit - Pinecone Villas - Sartell, MN 2013-10-31 2,800 2,800 0 0 584 2,191 25 19,600 16,120 3,480 0 1,447 17,635 518 Healthcare 98,174 sq ft Legends at Heritage Place - Sartell, MN 2013-10-31 11,863 11,863 0 0 970 10,511 382 39,500 sq ft Spring Creek Fruitland - Fruitland, ID 2014-02-05 7,050 7,050 0 0 550 6,500 0 18,913 18,913 0 0 1,520 17,011 382 Unimproved Land Chateau II - Minot, ND 2013-05-21 179 179 0 0 179 0 0 Jamestown Unimproved - Jamestown, ND 2013-08-09 700 700 0 0 700 0 0 Red 20 - Minneapolis, MN(3) 2013-08-20 1,900 0 0 1,900 1,900 0 0 Legends at Heritage Place - Sartell, MN 2013-10-31 537 537 0 0 537 0 0 Spring Creek Fruitland - Fruitland, ID 2014-01-21 335 335 0 0 335 0 0 Isanti Unimproved - Isanti, MN 2014-02-04 50 50 0 0 50 0 0 Rapid City Unimproved - Rapid City, SD 2014-03-25 1,366 1,366 0 0 1,366 0 0 5,067 3,167 0 1,900 5,067 0 0 Total Property Acquisitions $ 43,580 $ 38,200 $ 3,480 $ 1,900 $ 8,034 $ 34,646 $ 900 (1) Value of limited partnership units of the Operating Partnership at the acquisition date. (2) Consists of value of land contributed by the joint venture partner. (3) Land is owned by a joint venture in which the Company has an approximately 58.6% interest. The joint venture is consolidated in IRET’s financial statements. Acquisitions in fiscal years 2015 and 2014 are immaterial to our real estate portfolio both individually and in the aggregate, and consequently no proforma information is presented. The results of operations from acquired properties are included in the Consolidated Statements of Operations as of their acquisition date. The revenue and net income of our fiscal year 2015 and 2014 acquisitions (excluding development projects placed in service) are detailed below. (in thousands) Year Ended April 30, 2015 2014 Total revenue $ 2,565 $ 1,897 Net loss $ (1 ) $ (82 ) DEVELOPMENT PROJECTS PLACED IN SERVICE IRET Properties placed approximately $124.5 million of development projects in service during fiscal year 2015, compared to $53.5 million in fiscal year 2014. The fiscal year 2015 and 2014 development projects placed in service are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Development Projects Placed in Service (1) Date Placed in Land Building Development Multifamily 44 unit - Dakota Commons - Williston, ND(2) 2014-07-15 $ 823 $ 9,596 $ 10,419 130 unit - Red 20 - Minneapolis, MN(3) 2014-11-21 1,900 26,412 28,312 233 unit - Commons at Southgate - Minot, ND(4) 2014-12-09 3,691 31,351 35,042 64 unit - Cypress Court II - St. Cloud, MN(5) 2015-01-01 447 6,320 6,767 165 unit - Arcata - Golden Valley, MN(6) 2015-01-01 2,088 29,640 31,728 8,949 103,319 112,268 Industrial 202,807 sq ft Roseville 3075 Long Lake Road - Roseville, MN 2014-11-10 0 9,036 9,036 Other 4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND(7) 2014-11-10 992 2,193 3,185 Total Development Projects Placed in Service $ 9,941 $ 114,548 $ 124,489 (1) (2) (3) (4) (5) (6) (7) Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Development Projects Placed in Service (1) Date Placed in Land Building Development Multifamily 108 unit - Landing at Southgate - Minot, ND(2) 2013-09-04 $ 2,262 $ 12,864 $ 15,126 132 unit - Cypress Court - St. Cloud, MN(3) 2013-11-01 1,136 12,428 13,564 146 unit - River Ridge - Bismarck, ND(4) 2013-12-02 589 24,268 24,857 Total Development Projects Placed in Service $ 3,987 $ 49,560 $ 53,547 (1) (2) (3) (4) PROPERTY DISPOSITIONS During fiscal year 2015, the Company disposed of one multifamily property, one healthcare property, one industrial property, fifteen other commercial properties, and two unimproved properties for an aggregate sales price of $76.0 million, compared to dispositions totaling $80.9 million in fiscal year 2014. The fiscal year 2015 and 2014 dispositions are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Dispositions Date Sales Price Book Value Gain/(Loss) Multifamily 83 unit - Lancaster - St. Cloud, MN 2014-09-22 $ 4,451 $ 3,033 $ 1,418 Healthcare 45,222 sq ft Jamestown Medical Office Building - Jamestown, MN 2015-02-05 12,819 8,710 4,109 Industrial 198,600 sq ft Eagan 2785 & 2795 - Eagan, MN 2014-07-15 3,600 5,393 (1,793 ) Other 73,338 sq ft Dewey Hill - Edina, MN 2014-05-19 3,100 3,124 (24 ) 25,644 sq ft Weston Retail - Weston, WI 2014-07-28 n/a 1,176 (1,176 ) 74,568 sq ft Wirth Corporate Center - Golden Valley, MN 2014-08-29 4,525 4,695 (170 ) 52,000 sq ft Kalispell Retail - Kalispell, MT 2014-10-15 1,230 1,229 1 34,226 sq ft Fargo Express Center & SC Pad - Fargo, ND 2014-11-18 2,843 2,211 632 79,297 sq ft Northgate I — Maple Grove, MN 2014-12-01 7,200 6,881 319 14,820 sq ft Weston Walgreens — Weston, WI 2015-02-27 5,177 2,152 3,025 26,000 sq ft Northgate II - Maple Grove, MN 2015-03-02 2,725 1,727 998 45,019 sq ft Burnsville Bluffs II - Burnsville, MN 2015-03-25 1,245 2,245 (1,000 ) 26,186 sq ft Plymouth I - Plymouth, MN 2015-03-25 1,985 1,492 493 26,186 sq ft Plymouth II - Plymouth, MN 2015-03-25 1,625 1,356 269 26,186 sq ft Plymouth III - Plymouth, MN 2015-03-25 2,500 1,977 523 126,936 sq ft Plymouth IV & V - Plymouth, MN 2015-03-25 12,910 11,706 1,204 58,300 sq ft Southeast Tech Center - Eagan, MN 2015-03-25 3,300 4,196 (896 ) 61,138 sq ft Whitewater Plaza - Minnetonka, MN 2015-03-25 3,035 4,625 (1,590 ) 13,374 sq ft 2030 Cliff Road - Eagan, MN 2015-04-21 950 834 116 54,350 51,626 2,724 Unimproved Land Kalispell Unimproved - Kalispell, MT 2014-10-15 670 670 0 Weston — Weston, WI 2015-02-17 158 158 0 828 828 0 Total Property Dispositions $ 76,048 $ 69,590 $ 6,458 Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Dispositions Date Sales Price Book Value Gain/(Loss) Multifamily 84 unit - East Park - Sioux Falls, SD 2013-12-18 $ 2,214 $ 2,358 $ (144 ) 48 unit - Sycamore Village - Sioux Falls, SD 2013-12-18 1,296 1,380 (84 ) 3,510 3,738 (228 ) Industrial 41,880 sq ft Bodycote Industrial Building- Eden Prairie, MN 2013-05-13 3,150 1,375 1,775 42,244 sq ft Fargo 1320 45 th 2013-05-13 4,700 4,100 600 49,620 sq ft Metal Improvement Company - New Brighton, MN 2013-05-13 2,350 1,949 401 172,057 sq ft Roseville 2929 Long Lake Road - Roseville, MN 2013-05-13 9,275 9,998 (723 ) 322,751 sq ft Brooklyn Park 7401 Boone Ave - Brooklyn Park, MN 2013-09-12 12,800 12,181 619 50,400 sq ft Cedar Lake Business Center - St. Louis Park, MN 2013-09-12 2,550 2,607 (57 ) 35,000 sq ft API Building - Duluth, MN 2013-09-24 2,553 1,488 1,065 59,292 sq ft Lighthouse - Duluth, MN 2013-10-08 1,825 1,547 278 606,006 sq ft Dixon Avenue Industrial Park - Des Moines, IA 2013-10-31 14,675 10,328 4,347 41,685 sq ft Winsted Industrial Building - Winsted, MN 2014-01-17 725 747 (22 ) 69,984 sq ft Minnetonka 13600 County Road 62 - Minnetonka, MN 2014-01-30 3,800 3,084 716 42,510 sq ft Clive 2075NW 94 th 2014-01-30 2,735 2,675 60 61,138 52,079 9,059 Other 23,187 sq ft Eagan Community - Eagan, MN 2013-05-14 2,310 2,420 (110 ) 121,669 sq ft Bloomington Business Plaza - Bloomington, MN 2013-09-12 4,500 7,339 (2,839 ) 118,125 sq ft Nicollet VII - Burnsville, MN 2013-09-12 7,290 6,001 1,289 42,929 sq ft Pillsbury Business Center - Bloomington, MN 2013-09-12 1,160 1,164 (4 ) 10,625 sq ft Anoka Strip Center- Anoka, MN 2013-12-23 325 347 (22 ) 8,400 sq ft Burnsville 2 Strip Center - Burnsville, MN 2014-01-08 650 796 (146 ) 16,235 18,067 (1,832 ) Total Property Dispositions $ 80,883 $ 73,884 $ 6,999

OPERATING SEGMENTS

OPERATING SEGMENTS	12 Months Ended
	Apr. 30, 2015
OPERATING SEGMENTS [Abstract]
OPERATING SEGMENTS	NOTE 11 · OPERATING SEGMENTS IRET reports its results in three reportable segments: multifamily; healthcare, including senior housing; and industrial properties. During fiscal year 2016, the Company reduced its number of reportable segments from five to three when its office and retail segments fell below the quantitative thresholds for reporting as reportable segments. Historical segment information has been reclassified in accordance with the Company’s current segment structure. The Company’s reportable segments are aggregations of similar properties. Segment information in this report is presented based on net operating income (“NOI”), which we define as total real estate revenues and gain on involuntary conversion less real estate expenses (which consist of utilities, maintenance, real estate taxes, insurance, property management expenses and other property expenses). We believe that NOI is an important supplemental measure of operating performance for a REIT’s operating real estate because it provides a measure of core operations that is unaffected by depreciation, amortization, financing and general and administrative expense. NOI does not represent cash generated by operating activities in accordance with GAAP and should not be considered an alternative to net income, net income available for common shareholders or cash flow from operating activities as a measure of financial performance. The following tables present real estate revenues and net operating income for the fiscal years ended April 30, 2015, 2014 and 2013 from our three reportable segments, and reconcile net operating income of reportable segments to net income as reported in the consolidated financial statements. Segment assets are also reconciled to Total Assets as reported in the consolidated financial statements. (in thousands) Year Ended April 30, 2015 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 118,526 $ 65,828 $ 6,491 $ 10,150 $ 200,995 Real estate expenses 51,172 16,937 1,536 4,188 73,833 Net operating income $ 67,354 $ 48,891 $ 4,955 $ 5,962 127,162 TRS senior housing revenue, net of expenses 523 Depreciation/amortization (51,775 ) Administrative expenses (11,824 ) Other expenses (2,010 ) Impairment of real estate investments (4,663 ) Interest expense (40,071 ) Interest and other income 2,956 Income before gain on sale of real estate and other investments and income from discontinued operations 20,298 Gain on sale of real estate and other investments 6,093 Income from continuing operations 26,391 Income from discontinued operations 2,293 Net income $ 28,684 (in thousands) Year Ended April 30, 2014 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 102,059 $ 64,887 $ 6,894 $ 11,539 $ 185,379 Real estate expenses 46,138 16,899 2,043 4,725 69,805 Gain on involuntary conversion 2,480 0 0 0 2,480 Net operating income $ 58,401 $ 47,988 $ 4,851 $ 6,814 118,054 TRS senior housing revenue, net of expenses 296 Depreciation/amortization (50,069 ) Administrative expenses (10,743 ) Other expenses (2,129 ) Impairment of real estate investments (7,700 ) Interest expense (39,619 ) Interest and other income 2,148 Income before gain on sale of real estate and other investments and income from discontinued operations 10,238 Loss on sale of real estate and other investments (51 ) Income from continuing operations 10,187 Loss from discontinued operations (27,127 ) Net loss $ (16,940 ) (in thousands) Year Ended April 30, 2013 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 89,923 $ 61,625 $ 6,700 $ 11,485 $ 169,733 Real estate expenses 38,223 16,529 1,871 5,547 62,170 Gain on involuntary conversion 3,852 0 0 1,232 5,084 Net operating income $ 55,552 $ 45,096 $ 4,829 $ 7,170 112,647 Depreciation/amortization (42,430 ) Administrative expenses (8,494 ) Other expenses (2,171 ) Interest expense (40,441 ) Interest and other income 732 Income before gain on sale of real estate and other investments and income from discontinued operations 19,843 Gain on sale of real estate and other investments 0 Income from continuing operations 19,843 Income from discontinued operations 10,129 Net income $ 29,972 Segment Assets and Accumulated Depreciation (in thousands) As of April 30, 2015 Multifamily Healthcare Industrial All Other Total Segment Assets Property owned $ 946,520 $ 495,021 $ 60,611 $ 44,215 $ 1,546,367 Less accumulated depreciation (180,414 ) (112,515 ) (11,256 ) (9,123 ) (313,308 ) Net property owned $ 766,106 $ 382,506 $ 49,355 $ 35,092 1,233,059 Assets held for sale 463,103 Cash and cash equivalents 48,970 Other investments 329 Receivables and other assets 72,555 Development in progress 153,994 Unimproved land 25,827 Total assets $ 1,997,837 (in thousands) As of April 30, 2014 Multifamily Healthcare Industrial All Other Total Segment Assets Property owned $ 753,731 $ 522,135 $ 55,375 $ 118,975 $ 1,450,216 Less accumulated depreciation (158,100 ) (105,376 ) (10,198 ) (28,731 ) 302,405 Net property owned $ 595,631 $ 416,759 $ 45,177 $ 90,244 1,147,811 Assets held for sale 457,307 Cash and cash equivalents 47,267 Other investments 329 Receivables and other assets 89,034 Development in progress 104,609 Unimproved land 22,864 Total assets $ 1,869,221

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Apr. 30, 2015
DISCONTINUED OPERATIONS [Abstract]
DISCONTINUED OPERATIONS	NOTE 12 · DISCONTINUED OPERATIONS Prior to February 1, 2014, the Company reported, in discontinued operations, the results of operations and the related gains or losses of properties that had either been disposed of or classified as held for sale and otherwise met the classification of a discontinued operation. During fiscal year 2016, the Company classified as held for sale and discontinued operations 48 office properties, 17 retail properties and 1 healthcare property. The Company classified no properties as discontinued operations during fiscal year 2015. During the first three quarters of fiscal year 2014, the Company disposed of two multifamily properties, three office properties, twelve industrial properties and three retail properties that were classified as discontinued operations. During the quarter ended April 30, 2014, the Company applied ASU 2014-08 to one property that was classified as held for sale and did not record any discontinued operations. During fiscal year 2013, the Company disposed of three multifamily properties, one retail property, one healthcare property and four condominium units that were classified as discontinued operations. Eight condominium units and a retail property were classified as held for sale and also classified as discontinued operations at April 30, 2012. The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the fiscal years ended April 30, 2015, 2014 and 2013. (in thousands) 2015 2014 2013 REVENUE Real estate rentals $ 54,591 $ 57,629 $ 63,704 Tenant reimbursement 24,084 26,949 27,788 TOTAL REVENUE 78,675 84,578 91,492 EXPENSES Depreciation/amortization related to real estate investments 16,226 19,359 20,873 Utilities 7,493 8,423 7,876 Maintenance 10,861 12,022 12,307 Real estate taxes 13,906 14,898 16,235 Insurance 1,079 1,172 1,151 Property management expenses 3,795 3,657 3,810 Other property expenses 30 243 16 Other expenses 0 3 2 Amortization related to non-real estate investments 2,606 2,500 2,446 Impairment of real estate investments 1,442 36,726 305 TOTAL EXPENSES 57,438 99,003 65,021 Operating income (loss) 21,237 (14,425 ) 26,471 Interest expense (18,949 ) (19,944 ) (23,425 ) Interest income 0 2 2 Other income 5 241 16 Income (loss) income from discontinued operations before gain on sale 2,293 (34,126 ) 3,244 Gain on sale of discontinued operations 0 6,999 6,885 INCOME FROM DISCONTINUED OPERATIONS 2,293 $ (27,127 ) $ 10,129 Segment Data Multifamily 0 $ (99 ) $ 3,712 Healthcare (55 ) (68 ) 3,307 Industrial 0 8,923 2,118 Other 2,348 (35,883 ) 992 Total 2,293 $ (27,127 ) $ 10,129 (in thousands) 2014 2013 Property Sale Data Sales price $ 80,883 $ 26,273 Net book value and sales costs (73,884 ) (19,388 ) Gain on sale of discontinued operations $ 6,999 $ 6,885 The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Consolidated Balance Sheets: (in thousands) April 30, 2015 April 30, 2014 Carrying amounts of major classes of assets included as part of discontinued operations Property owned and intangible assets, net of accumulated depreciation and amortization $ 417,045 $ 425,676 Receivable arising from straight-lining of rents 10,078 11,087 Accounts receivable 566 1,752 Prepaid and other assets 699 691 Tax, insurance and other escrow 1,176 4,655 Property and equipment 0 7 Goodwill 193 0 Deferred charges and leasing costs 9,606 10,488 Total major classes of assets of the discontinued operations 439,363 454,356 Other assets included in the disposal group classified as held for sale 23,740 2,951 Total assets of the disposal group classified as held for sale on the balance sheet $ 463,103 $ 457,307 Carrying amounts of major classes of liabilities included as part of discontinued operations Accounts payable and accrued expenses $ 13,952 $ 13,988 Mortgages payable 295,677 318,734 Other 4 9 Total major classes of liabilities of the discontinued operations 309,633 332,731 Other liabilities included in the disposal group classified as held for sale 11,760 0 Total liabilities of the disposal group classified as held for sale on the balance sheet $ 321,393 $ 332,731

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Apr. 30, 2015
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	NOTE 13 · EARNINGS PER SHARE Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The Company has no outstanding options, warrants, convertible stock or other contractual obligations requiring issuance of additional common shares that would result in a dilution of earnings. Units can be exchanged for shares on a one-for-one basis after a minimum holding period of one year. The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2015, 2014 and 2013: For Years Ended April 30, (in thousands, except per share data) 2015 2014 2013 NUMERATOR Income (loss) from continuing operations — Investors Real Estate Trust $ 22,076 $ 9,633 $ 17,247 Income (loss) from discontinued operations — Investors Real Estate Trust 2,011 (22,807 ) 8,283 Net income (loss) attributable to Investors Real Estate Trust 24,087 (13,174 ) 25,530 Dividends to preferred shareholders (11,514 ) (11,514 ) (9,229 ) Numerator for basic earnings per share — net income (loss) available to common shareholders 12,573 (24,688 ) 16,301 Noncontrolling interests — Operating Partnership 1,526 (4,676 ) 3,633 Numerator for diluted earnings per share $ 14,099 $ (29,364 ) $ 19,934 DENOMINATOR Denominator for basic earnings per share weighted average shares 118,004 105,331 93,344 Effect of convertible operating partnership units 16,594 21,697 21,191 Denominator for diluted earnings per share 134,598 127,028 114,535 Earnings (loss) per common share from continuing operations — Investors Real Estate Trust — basic and diluted $ .09 $ (.01 ) $ .08 Earnings (loss) per common share from discontinued operations — Investors Real Estate Trust — basic and diluted .02 (.22 ) .09 NET INCOME (LOSS) PER COMMON SHARE — BASIC & DILUTED $ .11 $ (.23 ) $ .17

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Apr. 30, 2015
RETIREMENT PLANS [Abstract]
RETIREMENT PLANS	NOTE 14 · RETIREMENT PLANS IRET sponsors a defined contribution 401(k) retirement plan. There are three types of contributions to the plan: 401(k) Safe Harbor employer matching contributions; discretionary non-elective employer contributions; and employee deferrals or contributions. Participation in IRET’s defined contribution 401(k) plan is available to employees over the age of 21, except that collectively bargained employees, non-resident alien employees, and part-time/temporary/seasonal employees scheduled to work less than 1000 hours of service within the plan year are excluded from participation. Employees can contribute immediately upon hire; however, they are not eligible for the employer match until they have completed six months of service and worked at least 1,000 hours per calendar year. Employees participating in the 401(k) plan may contribute up to maximum levels established by the IRS. Employer contributions to the plan are at the discretion of the Company’s management. Employees are eligible to receive discretionary employer contributions if they are over the age of 21, have completed 1,000 hours of service within the plan year, and are employed on the last day of the plan year. IRET currently expects to make discretionary employer contributions of not more than 3.5% of the eligible wages of each participating employee, and currently matches, dollar for dollar, employee contributions to the 401(k) plan in an amount equal to up to 4.0% of the eligible wages of each participating employee, for a total expected contribution of not more than 7.5% of the eligible wages of each participating employee. Discretionary employer contributions are subject to a vesting schedule; 401(k) matching contributions by IRET are fully vested when made.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Apr. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 15 · COMMITMENTS AND CONTINGENCIES Ground Leases. The expected timing of ground and air rights lease payments as of April 30, 2015 is as follows: (in thousands) Fiscal Year Ended April 30, Lease Payments 2016 $ 478 2017 449 2018 449 2019 449 2020 449 Thereafter 20,764 Total $ 23,038 Legal Proceedings Environmental Matters Tenant Improvements Purchase Options Insurance. Restrictions on Taxable Dispositions. Redemption Value of Units Joint Venture Buy/Sell Options. Development, Expansion and Renovation Projects. (in thousands) (in fiscal years) Project Name and Location Planned Rentable Anticipated Costs as of Anticipated Roseville 3075 Long Lake Rd - Roseville, MN Other 202,807 sq ft 13,915 9,036 In Service Chateau II - Minot, ND Multifamily 72 units 14,711 13,129 1Q 2016 Edina 6565 France SMC III - Edina, MN Healthcare 57,479 sq ft 36,752 22,549 1Q 2016 Minot Southgate Retail - Minot, ND Other 7,963 sq ft 2,923 2,164 1Q 2016 Renaissance Heights - Williston, ND(2) Multifamily 288 units 62,362 59,087 1Q 2016 Deer Ridge — Jamestown, ND Multifamily 163 units 24,519 15,355 2Q 2016 PrairieCare Medical - Brooklyn Park, MN Healthcare 72,895 sq ft 24,251 19,457 2Q 2016 Cardinal Point - Grand Forks, ND Multifamily 251 units 40,042 26,450 3Q 2016 71 France Phase I, II, III - Edina, MN(3) Multifamily 241 units 73,290 35,137 1Q 2017 Other n/a n/a n/a 6,618 n/a $ 292,765 $ 208,982 (1) (2) (3) These development projects are subject to various contingencies, and no assurances can be given that they will be completed within the time frames or on the terms currently expected.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Apr. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 16 · FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurement and Disclosures Level 1: Quoted prices in active markets for identical assets Level 2: Significant other observable inputs Level 3: Significant unobservable inputs There were no transfers in and out of Level 1, Level 2 and Level 3 fair value measurements during fiscal years 2015 and 2014. Fair value estimates may be different than the amounts that may ultimately be realized upon sale or disposition of the assets and liabilities. Fair Value Measurements on a Recurring Basis The Company had no assets or liabilities recorded at fair value on a recurring basis at April 30, 2015 and 2014. Fair Value Measurements on a Nonrecurring Basis Non-financial assets measured at fair value on a nonrecurring basis at April 30, 2015 consisted of real estate held for sale that was written-down to estimated fair value during fiscal year 2015. Non-financial assets measured at fair value on a nonrecurring basis at April 30, 2014 consisted of real estate investments and real estate held for sale that were written-down to estimated fair value during fiscal year 2014. The aggregate fair value of these assets by their levels in the fair value hierarchy are as follows: (in thousands) Total Level 1 Level 2 Level 3 April 30, 2015 Real estate held for sale $ 7,100 $ 0 $ 0 $ 7,100 April 30, 2014 Real estate investments 89,537 0 0 89,537 Real estate held for sale 2,951 0 0 2,951 Financial Assets and Liabilities Not Measured at Fair Value The following methods and assumptions were used to estimate the fair value of each class of financial assets and liabilities. The fair values of our financial instruments approximate their carrying amount in our consolidated financial statements except for debt. Cash and Cash Equivalents. Other Investments. Other Debt. Lines of Credit. Mortgages Payable. The estimated fair values of the Company’s financial instruments as of April 30, 2015 and 2014 are as follows: (in thousands) 2015 2014 Carrying Fair Value Carrying Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 48,970 $ 48,970 $ 47,267 $ 47,267 Other investments 329 329 329 329 FINANCIAL LIABILITIES Other debt 144,090 143,749 63,132 63,250 Lines of credit 60,500 60,500 22,500 22,500 Mortgages payable 668,112 749,604 678,955 751,117

COMMON AND PREFERRED SHARES OF

COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY	12 Months Ended
	Apr. 30, 2015
COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY [Abstract]
COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY	NOTE 17 · COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY Distribution Reinvestment and Share Purchase Plan. Exchange of Units for Common Shares. Issuance of Preferred Shares In addition to the 4.6 million Series B preferred shares outstanding, the Company also has outstanding approximately 1.2 million shares of 8.25% Series A Cumulative Redeemable Preferred Shares of Beneficial Interest, issued during the Company’s fiscal year 2004 for total proceeds of $27.3 million, net of selling costs. Holders of the Company’s Series A preferred shares are entitled to receive dividends at an annual rate of 8.25% of the liquidation preference of $25 per share, or $2.0625 per share per annum. These dividends are cumulative and payable quarterly in arrears. The shares are not convertible into or exchangeable for any other property or any other securities of the Company at the election of the holders. However, the Company, at its option, may redeem the shares at a redemption price of $25.00 per share, plus any accrued and unpaid dividends through the date of redemption. The shares have no maturity date and will remain outstanding indefinitely unless redeemed by the Company. During the second quarter of fiscal year 2014, the Company and its Operating Partnership entered into an ATM sales agreement with Robert W. Baird & Co. Incorporated as sales agent, pursuant to which the Company may from time to time sell the Company’s common shares of beneficial interest having an aggregate offering price of up to $75 million. The shares would be issued pursuant to the Company’s currently-effective shelf registration statement on Form S-3ASR. The Company issued no common shares under this program during fiscal years 2015 and 2014.

QUARTERLY RESULTS OF CONSOLIDAT

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited)	12 Months Ended
	Apr. 30, 2015
QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) [Abstract]
QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited)	NOTE 18 · QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (in thousands, except per share data) QUARTER ENDED July 31, 2014 October 31, 2014 January 31, 2015 April 30, 2015 Revenues $ 49,214 $ 51,189 $ 52,939 $ 51,173 Net (loss) income attributable to Investors Real Estate Trust $ (151 ) $ 5,114 $ 8,371 $ 10,753 Net (loss) income available to common shareholders $ (3,030 ) $ 2,236 $ 5,492 $ 7,875 Net (loss) income per common share - basic & diluted $ (.03 ) $ .02 $ .05 $ .07 (in thousands, except per share data) QUARTER ENDED July 31, 2013 October 31, 2013 January 31, 2014 April 30, 2014 Revenues $ 45,287 $ 45,896 $ 48,383 $ 47,440 Net income (loss) attributable to Investors Real Estate Trust $ 3,078 $ 8,787 $ 3,503 $ (28,542 ) Net income (loss) available to common shareholders $ 199 $ 5,909 $ 624 $ (31,420 ) Net income (loss) per common share - basic & diluted $ .00 $ .06 $ .00 $ (.29 ) The above financial information is unaudited. In the opinion of management, all adjustments (which are of a normal recurring nature) have been included for a fair presentation.

REDEEMABLE NONCONTROLLING INTER

REDEEMABLE NONCONTROLLING INTERESTS	12 Months Ended
	Apr. 30, 2015
REDEEMABLE NONCONTROLLING INTERESTS [Abstract]
REDEEMABLE NONCONTROLLING INTERESTS	NOTE 19 · REDEEMABLE NONCONTROLLING INTERESTS Redeemable noncontrolling interests on our Consolidated Balance Sheets represent the noncontrolling interest in a joint venture of the Company in which the Company’s unaffiliated partner, at its election, could require the Company to buy its interest at a purchase price to be determined by an appraisal conducted in accordance with the terms of the agreement, or at a negotiated price. Redeemable noncontrolling interests are presented at the greater of their carrying amount or redemption value at the end of each reporting period. Changes in the value from period to period are charged to common shares of beneficial interest on our Consolidated Balance Sheets. The Company currently has one joint venture, the Company’s Southgate apartment project in Minot, North Dakota, in which the Company’s joint venture partner can, for the four-year period from February 6, 2016 through February 5, 2020, compel the Company to acquire the partner’s interest, for a price to be determined in accordance with the provisions of the joint venture agreement. As of April 30, 2015 and 2014, the estimated redemption value of the redeemable noncontrolling interests was $6.4 million and $6.2 million, respectively. Below is a table reflecting the activity of the redeemable noncontrolling interests. (in thousands) 2015 2014 2013 Balance at beginning of fiscal year $ 6,203 $ 5,937 $ 0 Contributions 0 0 5,932 Net income 165 266 5 Balance at close of fiscal year $ 6,368 $ 6,203 $ 5,937

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	12 Months Ended
	Apr. 30, 2015
SHARE BASED COMPENSATION
SHARE BASED COMPENSATION	NOTE 20 · SHARE BASED COMPENSATION Share based awards are provided to officers, non-officer employees and trustees, under the Company’s 2008 Incentive Award Plan approved by shareholders on September 16, 2008, which allows for awards in the form of cash and awards of unrestricted and restricted common shares, up to an aggregate of 2,000,000 shares over the ten year period in which the plan will be in effect. Through April 30, 2015, awards under the 2008 Incentive Award Plan consisted of cash awards and grants of restricted and unrestricted common shares. Long-Term Incentive Plan The Company maintains a long-term incentive plan (“LTIP”) that allows for share based awards to officer and non-officer employees of the Company. Under the LTIP, executives are provided the opportunity to earn awards, payable 50% in unrestricted shares and 50% in restricted shares, based on achieving one or more performance objectives within a one-year performance period (for example, the performance period for fiscal year 2015 commenced on May 1, 2014 and concluded on April 30, 2015). LTIP performance is evaluated based on the following objective performance goal: Three-Year Average Annual Total Shareholder Return (“TSR”), which means the average of the Annual Total Shareholder Return for the Company’s common shares in each of the three consecutive fiscal years ending with and including the performance period. TSR is considered a market condition. “Annual Total Shareholder Return,” and “Three-Year Average Annual Total Shareholder Return,” have the meanings set forth in the LTIP. The unrestricted shares vest immediately at the end of the one-year performance period, and the restricted shares vest on the one year anniversary of the award date based on service during that year. With respect to the performance period of the LTIP subject to market conditions, we recognize compensation expense ratably (over one year for the 50% unrestricted shares and over two years for the 50% restricted shares) based on the service inception date fair value, as determined using a Monte Carlo simulation. The market condition performance measurement is the three-year average annual total shareholder return. The model evaluates the awards for changing total shareholder return over the term of the vesting, and uses random simulations that are based on past IRET stock characteristics. We based the expected volatility of 15-20% upon the historical volatility of our daily closing share price. Dividend yield of 6.1% was calculated as the estimated annual dividend for the fiscal year divided by the average price of the previous fiscal year. We based the risk-free interest rate of 0.03-0.09% on U.S. treasury bonds with a maturity equal to the remaining market condition performance period. The officers’ total award opportunity under the LTIP stated as a percentage of base salary ranges from 50% to 100% at target level. The calculated grant date fair value as a percentage of base salary for the officers ranged from 47% to 94% for LTIP subject to market conditions as of the grant date of April 30, 2015. The grant date is the end of the performance period, when the executive has risk in the shares that were earned as of that date. The service inception date precedes the grant date because a mutual understanding was achieved between the Company and the executives at the beginning of the performance period. Share-based compensation expense for the 2015 performance period was $1.3 million for the fiscal year ended April 30, 2015. Share-based compensation expense for the 2014 performance period was approximately $690,000 and $914,000 for the fiscal years ended April 30, 2015 and 2014. The TSR threshold was not reached in fiscal year 2013; consequently there was no LTIP expense for the fiscal year ended April 30, 2013. Trustee Awards We award share-based compensation to our non-management trustees on an annual basis in the form of unrestricted shares which vest immediately. The value of share-based compensation at grant date for each non-management trustee was $39,139, $28,976, and $15,975 for each of the fiscal years ended April 2015, 2014, and 2013, respectively. Total Compensation Expense Total share-based compensation expense recognized in the consolidated financial statements for the three years ended April 30, 2015 for all share-based awards was as follows (in thousands): Year Ended April 30, 2015 2014 2013 Share based compensation expense $ 2,215 $ 1,162 $ 45 Restricted Share Awards The activity for the two years ended April 30, 2015 related to the Company’s restricted share awards was as follows. There was no activity related to restricted shares in fiscal year 2013. Shares Wtd Avg Grant- Unvested at April 30, 2013 0 $ n/a Granted 104,855 8.72 Unvested at April 30, 2014 104,855 8.72 Granted 107,536 7.17 Vested during year (79,181 ) 8.72 Forfeited (25,674 ) 8.72 Unvested at April 30, 2015 107,536 7.17 The total fair value of share grants vested during the fiscal year ended April 30, 2015 was approximately $568,000. No share grants vested during the fiscal years ended April 30, 2014 and 2013. As of April 30, 2015, the total compensation cost related to non-vested share awards not yet recognized was approximately $771,000, which the Company expects to recognize during fiscal year 2016.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Apr. 30, 2015
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 21 · SUBSEQUENT EVENTS Common and Preferred Share Distributions . Class of shares/units Quarterly Amount Record Date Payment Date Common shares and limited partnership units $ 0.1300 June 15, 2015 July 1, 2015 Preferred shares: Series A $ 0.5156 June 15, 2015 June 30, 2015 Series B $ 0.4968 June 15, 2015 June 30, 2015 Pending Acquisition Completed Disposition Pending Dispositions Commitment Increase to Credit Facility

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Apr. 30, 2015
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Multifamily 11th Street 3 Plex - Minot, ND $ 84 $ 11 $ 53 $ 19 $ 20 $ 63 $ 83 $ (12 ) 2008 40 years 4th Street 4 Plex - Minot, ND 98 15 74 34 23 100 123 (19 ) 2008 40 years Alps Park - Rapid City, SD 3,934 287 5,551 165 293 5,710 6,003 (299 ) 2013 40 years Apartments on Main - Minot, ND 642 158 1,123 53 193 1,141 1,334 (235 ) 1987 24-40 years Arbors - S Sioux City, NE 3,840 350 6,625 1,923 980 7,918 8,898 (2,115 ) 2006 40 years Arcata - Golden Valley, MN 0 2,088 29,640 95 2,088 29,735 31,823 (380 ) 2013 40 years Ashland - Grand Forks, ND 5,517 741 7,569 163 774 7,699 8,473 (678 ) 2012 40 years Boulder Court - Eagan, MN 2,736 1,067 5,498 3,005 1,324 8,246 9,570 (2,539 ) 2003 40 years Brookfield Village - Topeka, KS 5,216 509 6,698 1,539 756 7,990 8,746 (2,348 ) 2003 40 years Brooklyn Heights - Minot, ND 694 145 1,450 879 219 2,255 2,474 (949 ) 1997 12-40 years Campus Center - St. Cloud, MN 1,127 395 2,244 243 407 2,475 2,882 (534 ) 2007 40 years Campus Heights - St. Cloud, MN 0 110 628 157 124 771 895 (163 ) 2007 40 years Campus Knoll - St. Cloud, MN 752 266 1,512 180 305 1,653 1,958 (364 ) 2007 40 years Campus Plaza - St. Cloud, MN 0 54 311 85 60 390 450 (87 ) 2007 40 years Campus Side - St. Cloud, MN 0 107 615 161 118 765 883 (170 ) 2007 40 years Campus View - St. Cloud, MN 0 107 615 156 113 765 878 (164 ) 2007 40 years Canyon Lake - Rapid City, SD 2,843 305 3,958 1,652 376 5,539 5,915 (1,739 ) 2001 40 years Castlerock - Billings, MT 6,574 736 4,864 2,165 994 6,771 7,765 (2,726 ) 1998 40 years Chateau I - Minot, ND 0 61 5,663 683 71 6,336 6,407 (786 ) 2013 40 years Cimarron Hills - Omaha, NE 4,729 706 9,588 4,346 1,334 13,306 14,640 (4,723 ) 2001 40 years Colonial Villa - Burnsville, MN 5,473 2,401 11,515 7,471 2,844 18,543 21,387 (5,255 ) 2003 40 years Colony - Lincoln, NE 13,303 1,515 15,730 671 1,574 16,342 17,916 (1,316 ) 2012 40 years Colton Heights - Minot, ND 391 80 672 421 123 1,050 1,173 (769 ) 1984 40 years Commons at Southgate - Minot, ND 0 3,691 31,351 580 3,703 31,919 35,622 (993 ) 2013 40 years Cornerstone - St. Cloud, MN 0 54 311 88 57 396 453 (89 ) 2007 40 years Cottage West Twin Homes - Sioux Falls, SD 3,586 968 3,762 432 1,022 4,140 5,162 (378 ) 2011 40 years Cottonwood - Bismarck, ND 15,586 1,056 17,372 3,294 1,383 20,339 21,722 (6,904 ) 1997 40 years Country Meadows - Billings, MT 6,560 491 7,809 1,486 538 9,248 9,786 (3,797 ) 1995 33-40 years Crestview - Bismarck, ND 3,839 235 4,290 1,682 515 5,692 6,207 (2,915 ) 1994 24-40 years Crown - Rochester, MN 2,571 261 3,289 246 269 3,527 3,796 (470 ) 2010 40 years Crown Colony - Topeka, KS 8,081 620 9,956 2,388 898 12,066 12,964 (4,531 ) 1999 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Multifamily continued Cypress Court - St. Cloud, MN $ 13,150 $ 1,583 $ 18,874 $ 148 $ 1,583 $ 19,022 $ 20,605 $ (652 ) 2012 40 years Dakota Commons - Williston, ND(2) 0 823 9,596 25 824 9,620 10,444 (236 ) 2012 40 years Evergreen - Isanti, MN 1,986 380 2,740 116 385 2,851 3,236 (474 ) 2008 40 years Evergreen II - Isanti, MN 2,066 691 2,784 55 698 2,832 3,530 (277 ) 2011 40 years Fairmont - Minot, ND 332 28 337 117 55 427 482 (76 ) 2008 40 years First Avenue - Minot, ND 0 0 3,046 11 0 3,057 3,057 (155 ) 2013 40 years Forest Park - Grand Forks, ND 7,560 810 5,579 7,407 1,426 12,370 13,796 (5,333 ) 1993 24-40 years Gables Townhomes - Sioux Falls, SD 1,452 349 1,921 173 374 2,069 2,443 (189 ) 2011 40 years Grand Gateway - St. Cloud, MN 5,345 814 7,086 805 934 7,771 8,705 (746 ) 2012 40 years Greenfield - Omaha, NE 3,552 578 4,122 769 803 4,666 5,469 (932 ) 2007 40 years Heritage Manor - Rochester, MN 3,895 403 6,968 2,796 580 9,587 10,167 (3,751 ) 1998 40 years Homestead Garden - Rapid City, SD 9,761 655 14,139 156 658 14,292 14,950 (329 ) 2014 40 years Indian Hills - Sioux City, IA(2) 0 294 2,921 3,709 397 6,527 6,924 (1,353 ) 2007 40 years Kirkwood Manor - Bismarck, ND 3,259 449 2,725 1,676 553 4,297 4,850 (1,786 ) 1997 12-40 years Lakeside Village - Lincoln, NE 13,129 1,215 15,837 442 1,263 16,231 17,494 (1,294 ) 2012 40 years Landing at Southgate - Minot, ND 0 2,254 12,955 93 2,294 13,008 15,302 (546 ) 2013 40 years Landmark - Grand Forks, ND 1,573 184 1,514 1,093 331 2,460 2,791 (1,070 ) 1997 40 years Legacy - Grand Forks, ND 15,528 1,362 21,727 6,665 2,133 27,621 29,754 (10,186 ) 1995-2005 24-40 years Legacy Heights - Bismarck, ND 0 804 9,162 73 804 9,235 10,039 (21 ) 2015 40 years Mariposa - Topeka, KS 2,925 399 5,110 535 427 5,617 6,044 (1,498 ) 2004 40 years Meadows - Jamestown, ND(2) 0 590 4,519 1,355 669 5,795 6,464 (2,135 ) 1998 40 years Monticello Village - Monticello, MN 2,956 490 3,756 491 621 4,116 4,737 (1,257 ) 2004 40 years Northern Valley - Rochester, MN 0 110 610 129 119 730 849 (100 ) 2010 40 years North Pointe - Bismarck, ND 3,382 303 3,957 622 354 4,528 4,882 (1,474 ) 1995-2011 24-40 years Northridge - Bismarck, ND 6,322 884 7,516 26 888 7,538 8,426 (126 ) 2014 40 years Oakmont Estates - Sioux Falls, SD 2,418 422 4,838 638 627 5,271 5,898 (1,746 ) 2002 40 years Oakwood Estates - Sioux Falls, SD 3,939 543 2,784 4,336 777 6,886 7,663 (3,214 ) 1993 40 years Olympic Village - Billings, MT 10,575 1,164 10,441 3,086 1,785 12,906 14,691 (4,881 ) 2000 40 years Olympik Village - Rochester, MN 4,382 1,034 6,109 1,968 1,183 7,928 9,111 (2,127 ) 2005 40 years Oxbow Park - Sioux Falls, SD 3,846 404 3,152 2,894 824 5,626 6,450 (2,808 ) 1994 24-40 years Park Meadows - Waite Park, MN 8,482 1,143 9,099 5,792 1,629 14,405 16,034 (5,939 ) 1997 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Multifamily continued Pebble Springs - Bismarck, ND $ 757 $ 7 $ 748 $ 165 $ 54 $ 866 $ 920 $ (349 ) 1999 40 years Pinehurst - Billings, MT 205 72 687 251 81 929 1,010 (305 ) 2002 40 years Pinecone Villas - Sartell, MN 0 584 2,191 27 585 2,217 2,802 (95 ) 2013 40 years Pines - Minot, ND 111 35 215 185 49 386 435 (141 ) 1997 40 years Plaza - Minot, ND 5,348 867 12,784 2,455 995 15,111 16,106 (2,433 ) 2009 40 years Pointe West - Rapid City, SD 2,624 240 3,538 1,527 368 4,937 5,305 (2,379 ) 1994 24-40 years Ponds at Heritage Place - Sartell, MN 3,852 395 4,564 320 404 4,875 5,279 (363 ) 2012 40 years Prairie Winds - Sioux Falls, SD 1,410 144 1,816 487 235 2,212 2,447 (1,228 ) 1993 24-40 years Quarry Ridge - Rochester, MN 27,268 2,254 30,024 1,392 2,307 31,363 33,670 (4,533 ) 2006 40 years Red 20 - Minneapolis, MN 0 1,900 26,412 4 1,900 26,416 28,316 (445 ) 2013 40 years Regency Park Estates - St. Cloud, MN 6,680 702 10,198 1,465 811 11,554 12,365 (1,162 ) 2011 40 years Renaissance Heights - Williston, ND 0 2,464 43,488 123 2,467 43,608 46,075 (848 ) 2013 40 years Ridge Oaks - Sioux City, IA 3,359 178 4,073 2,437 288 6,400 6,688 (2,205 ) 2001 40 years Rimrock West - Billings, MT 3,282 330 3,489 1,510 435 4,894 5,329 (1,765 ) 1999 40 years River Ridge - Bismarck, ND 13,200 576 23,826 998 1,438 23,962 25,400 (1,290 ) 2008 40 years Rocky Meadows - Billings, MT 5,089 656 5,726 1,201 772 6,811 7,583 (3,129 ) 1995 40 years Rum River - Isanti, MN 3,536 843 4,823 215 862 5,019 5,881 (1,020 ) 2007 40 years Sherwood - Topeka, KS 12,134 1,142 14,684 3,064 1,694 17,196 18,890 (6,619 ) 1999 40 years Sierra Vista - Sioux Falls, SD 1,390 241 2,097 435 265 2,508 2,773 (273 ) 2011 40 years Silver Springs - Rapid City, SD 2,230 215 3,006 48 215 3,054 3,269 (68 ) 2014 40 years South Pointe - Minot, ND 8,613 550 9,548 2,847 1,343 11,602 12,945 (5,494 ) 1995 24-40 years Southpoint - Grand Forks, ND(2) 0 576 9,893 48 591 9,926 10,517 (414 ) 2013 40 years Southview - Minot, ND 1,035 185 469 410 240 824 1,064 (371 ) 1994 40 years Southwind - Grand Forks, ND 5,503 400 5,034 2,974 765 7,643 8,408 (3,486 ) 1995 24-40 years Summit Park - Minot, ND 963 161 1,898 1,550 560 3,049 3,609 (1,249 ) 1997 24-40 years Sunset Trail - Rochester, MN 8,009 336 12,814 2,652 581 15,221 15,802 (5,453 ) 1999 40 years Temple - Minot, ND 75 0 0 231 0 231 231 (57 ) 2006 40 years Terrace Heights - Minot, ND 160 29 312 142 40 443 483 (172 ) 2006 40 years Thomasbrook - Lincoln, NE 5,893 600 10,306 3,336 1,403 12,839 14,242 (4,680 ) 1999 40 years University Park Place - St. Cloud, MN 0 78 450 115 83 560 643 (118 ) 2007 40 years Valley Park - Grand Forks, ND 3,822 294 4,137 3,508 1,115 6,824 7,939 (2,599 ) 1999 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Multifamily continued Villa West - Topeka, KS $ 12,106 $ 1,590 $ 15,760 $ 923 $ 1,876 $ 16,397 $ 18,273 $ (1,331 ) 2012 40 years Village Green - Rochester, MN 1,047 234 2,296 962 359 3,133 3,492 (935 ) 2003 40 years West Stonehill - Waite Park, MN 8,448 939 10,167 5,224 1,533 14,797 16,330 (6,896 ) 1995 40 years Westridge - Minot, ND 1,604 68 1,887 263 77 2,141 2,218 (377 ) 2008 40 years Westwood Park - Bismarck, ND 1,950 116 1,909 1,784 284 3,525 3,809 (1,425 ) 1998 40 years Whispering Ridge - Omaha, NE 22,000 2,139 25,424 732 2,276 26,019 28,295 (1,563 ) 2012 40 years Williston Garden - Williston, ND 10,870 1,400 17,696 85 1,421 17,760 19,181 (2,132 ) 2012 40 years Winchester - Rochester, MN 2,564 748 5,622 1,846 1,009 7,207 8,216 (2,297 ) 2003 40 years Woodridge - Rochester, MN 6,257 370 6,028 2,207 642 7,963 8,605 (3,557 ) 1997 40 years Total Multifamily $ 423,385 $ 65,410 $ 746,299 $ 134,811 $ 81,919 $ 864,601 $ 946,520 $ (180,414 ) Healthcare 2800 Medical Building - Minneapolis, MN $ 7,740 $ 204 $ 7,135 $ 2,492 $ 229 $ 9,602 $ 9,831 $ (3,037 ) 2005 40 years 2828 Chicago Avenue - Minneapolis, MN 12,105 726 11,319 5,627 729 16,943 17,672 (4,011 ) 2007 40 years Airport Medical - Bloomington, MN 431 0 4,678 0 0 4,678 4,678 (1,730 ) 2002 40 years Billings 2300 Grant Road - Billings, MT 1,226 649 1,216 0 649 1,216 1,865 (146 ) 2010 40 years Burnsville 303 Nicollet Medical (Ridgeview) - Burnsville, MN 8,092 1,071 6,842 1,968 1,092 8,789 9,881 (1,612 ) 2008 40 years Burnsville 305 Nicollet Medical (Ridgeview South) - Burnsville, MN 5,066 189 5,127 971 203 6,084 6,287 (1,078 ) 2008 40 years Casper 1930 E 12th Street (Park Place) - Casper, WY(2) 0 439 5,780 172 439 5,952 6,391 (855 ) 2009 40 years Casper 3955 E 12th Street (Meadow Wind) - Casper, WY(2) 0 388 10,494 576 459 10,999 11,458 (1,510 ) 2009 40 years Cheyenne 4010 N College Drive (Aspen Wind) - Cheyenne, WY(2) 0 628 10,272 270 629 10,541 11,170 (1,457 ) 2009 40 years Cheyenne 4606 N College Drive (Sierra Hills) - Cheyenne, WY(2) 0 695 7,455 50 695 7,505 8,200 (1,020 ) 2009 40 years Denfeld Clinic - Duluth, MN 1,430 501 2,597 1 501 2,598 3,099 (718 ) 2004 40 years Eagan 1440 Duckwood Medical - Eagan, MN 0 521 1,547 556 521 2,103 2,624 (635 ) 2008 40 years Edgewood Vista - Belgrade, MT 0 35 779 21 35 800 835 (140 ) 2008 40 years Edgewood Vista - Billings, MT 1,785 115 1,767 66 115 1,833 1,948 (323 ) 2008 40 years Edgewood Vista - Bismarck, ND 0 511 9,193 177 511 9,370 9,881 (2,231 ) 2005 40 years Edgewood Vista - Brainerd, MN 0 587 8,999 134 587 9,133 9,720 (2,184 ) 2005 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Healthcare continued Edgewood Vista - Columbus, NE $ 0 $ 43 $ 824 $ 24 $ 44 $ 847 $ 891 $ (148 ) 2008 40 years Edgewood Vista - East Grand Forks, MN 2,718 290 1,352 59 290 1,411 1,701 (251 ) 2000 40 years Edgewood Vista - Fargo, ND 11,846 775 20,870 199 775 21,069 21,844 (3,730 ) 2008 40 years Edgewood Vista - Fremont, NE 550 56 490 54 56 544 600 (179 ) 2008 40 years Edgewood Vista - Grand Island, NE 0 33 773 51 39 818 857 (142 ) 2008 40 years Edgewood Vista - Hastings, NE 567 49 517 63 50 579 629 (197 ) 2008 40 years Edgewood Vista - Hermantown I, MN 15,197 288 9,871 1,761 288 11,632 11,920 (3,888 ) 2000 40 years Edgewood Vista - Hermantown II, MN 0 719 10,517 121 719 10,638 11,357 (2,542 ) 2005 40 years Edgewood Vista - Kalispell, MT 568 70 502 633 70 1,135 1,205 (364 ) 2001 40 years Edgewood Vista - Minot, ND 9,017 1,045 11,590 210 1,047 11,798 12,845 (1,307 ) 2010 40 years Edgewood Vista - Missoula, MT 807 109 854 94 116 941 1,057 (412 ) 1996 40 years Edgewood Vista - Norfolk, NE 0 42 722 22 42 744 786 (131 ) 2008 40 years Edgewood Vista - Omaha, NE 359 89 547 53 89 600 689 (201 ) 2001 40 years Edgewood Vista - Sioux Falls, SD 1,022 314 974 58 314 1,032 1,346 (185 ) 2008 40 years Edgewood Vista - Spearfish, SD 0 315 8,584 124 330 8,693 9,023 (1,710 ) 2005 40 years Edgewood Vista - Virginia, MN 12,927 246 11,823 313 246 12,136 12,382 (3,669 ) 2002 40 years Edina 6363 France Medical - Edina, MN 9,567 0 12,675 2,906 0 15,581 15,581 (3,781 ) 2008 40 years Edina 6405 France Medical - Edina, MN 8,145 0 12,201 41 0 12,242 12,242 (2,969 ) 2008 40 years Edina 6517 Drew Avenue - Edina, MN 0 353 660 529 372 1,170 1,542 (579 ) 2002 40 years Edina 6525 Drew Avenue - Edina, MN 0 388 117 0 388 117 505 (10 ) 2011 40 years Edina 6525 France SMC II - Edina, MN 9,803 755 8,054 5,723 1,040 13,492 14,532 (5,874 ) 2003 40 years Edina 6545 France SMC I - Edina MN 29,622 3,480 30,192 14,423 3,480 44,615 48,095 (17,035 ) 2001 40 years Fresenius - Duluth, MN 576 50 1,520 2 50 1,522 1,572 (420 ) 2004 40 years Garden View - St. Paul, MN 0 0 7,408 898 26 8,280 8,306 (2,723 ) 2002 40 years Gateway Clinic - Sandstone, MN 828 66 1,699 0 66 1,699 1,765 (469 ) 2004 40 years Healtheast St John & Woodwinds - Maplewood & Woodbury, MN 7,366 3,239 18,362 0 3,239 18,362 21,601 (6,867 ) 2000 40 years High Pointe Health Campus - Lake Elmo, MN 7,500 1,305 10,528 2,091 1,329 12,595 13,924 (3,750 ) 2004 40 years Laramie 1072 N 22nd Street (Spring Wind) - Laramie, WY(2) 0 406 10,151 27 406 10,178 10,584 (1,251 ) 2009 40 years Legends at Heritage Place - Sartell, MN 0 970 9,920 0 970 9,920 10,890 (382 ) 2013 40 years Mariner Clinic - Superior, WI 1,811 0 3,781 90 20 3,851 3,871 (1,077 ) 2004 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Healthcare continued Minneapolis 701 25th Avenue Medical - Minneapolis, MN $ 7,196 $ 0 $ 7,873 $ 1,566 $ 0 $ 9,439 $ 9,439 $ (1,837 ) 2008 40 years Missoula 3050 Great Northern - Missoula, MT 1,267 640 1,331 0 640 1,331 1,971 (159 ) 2010 40 years Park Dental - Brooklyn Center, MN 247 185 2,767 0 185 2,767 2,952 (873 ) 2002 40 years Pavilion I - Duluth, MN 4,773 1,245 8,898 31 1,245 8,929 10,174 (2,445 ) 2004 40 years Pavilion II - Duluth, MN 8,783 2,715 14,673 1,937 2,715 16,610 19,325 (5,788 ) 2004 40 years Ritchie Medical Plaza - St Paul, MN 5,980 1,615 7,851 3,611 1,647 11,430 13,077 (2,880 ) 2005 40 years Sartell 2000 23rd Street South - Sartell, MN 1,593 0 11,781 934 0 12,715 12,715 (4,101 ) 2002 40 years Spring Creek-American Falls - American Falls, ID 2,086 145 3,870 0 145 3,870 4,015 (404 ) 2011 40 years Spring Creek-Boise - Boise, ID 2,751 708 4,296 0 708 4,296 5,004 (482 ) 2011 40 years Spring Creek-Eagle - Eagle, ID 1,919 263 3,775 0 263 3,775 4,038 (396 ) 2011 40 years Spring Creek-Fruitland - Fruitland, ID 0 550 6,565 0 550 6,565 7,115 (260 ) 2014 40 years Spring Creek-Meridian - Meridian, ID 3,171 424 6,724 0 424 6,724 7,148 (698 ) 2011 40 years Spring Creek-Overland - Overland, ID 3,106 687 5,942 0 687 5,942 6,629 (644 ) 2011 40 years Spring Creek-Soda Springs - Soda Springs, ID 751 66 2,124 33 66 2,157 2,223 (228 ) 2011 40 years Spring Creek-Ustick - Meridian, ID 0 467 3,833 0 467 3,833 4,300 (370 ) 2011 40 years St Michael Clinic - St Michael, MN 1,795 328 2,259 264 328 2,523 2,851 (510 ) 2007 40 years Trinity at Plaza 16 - Minot, ND 4,718 568 9,009 125 674 9,028 9,702 (820 ) 2011 40 years Wells Clinic - Hibbing, MN 1,263 162 2,497 2 162 2,499 2,661 (690 ) 2004 40 years Total Healthcare $ 220,070 $ 33,522 $ 409,346 $ 52,153 $ 34,201 $ 460,820 $ 495,021 $ (112,515 ) Industrial Bloomington 2000 W 94th Street - Bloomington, MN(2) $ 0 $ 2,133 $ 4,097 $ 1,217 $ 2,204 $ 5,243 $ 7,447 $ (1,423 ) 2006 40 years Lexington Commerce Center - Eagan, MN 1,604 453 4,352 1,977 480 6,302 6,782 (2,831 ) 1999 40 years Minot IPS - Minot, ND(2) 0 416 5,952 0 416 5,952 6,368 (374 ) 2012 40 years Stone Container - Fargo, ND 382 440 6,597 104 440 6,701 7,141 (2,943 ) 2001 40 years Roseville 3075 Long Lake Road - Roseville, MN 0 810 9,562 1,326 810 10,888 11,698 (145 ) 2001 40 years Urbandale 3900 106th Street - Urbandale, IA 10,418 3,680 9,893 1,982 3,863 11,692 15,555 (2,553 ) 2007 40 years Woodbury 1865 Woodlane - Woodbury, MN 0 1,108 2,628 1,884 1,123 4,497 5,620 (987 ) 2007 40 years Total Industrial $ 12,404 $ 9,040 $ 43,081 $ 8,490 $ 9,336 $ 51,275 $ 60,611 $ (11,256 ) INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Other 1st Avenue Building - Minot, ND $ 0 $ 30 $ 337 $ 0 $ 30 $ 337 $ 367 $ (41 ) 1981 33-40 years 17 South Main - Minot, ND 75 15 75 197 17 270 287 $ (202 ) 2000 40 years Arrowhead First International Bank - Minot, ND 0 75 1,211 20 95 1,211 1,306 (65 ) 2013 40 years Bismarck 715 East Broadway - Bismarck, ND 2,103 389 1,283 1,126 443 2,355 2,798 (458 ) 2008 40 years Dakota West Plaza - Minot , ND 347 92 493 30 106 509 615 (122 ) 2006 40 years Grand Forks Carmike - Grand Forks, ND 1,304 184 2,360 2 184 2,362 2,546 (1,211 ) 1994 40 years Minot 1400 31st Ave - Minot, ND(2) 0 1,026 6,143 4,404 1,038 10,535 11,573 (2,287 ) 2010 40 years Minot 2505 16th Street SW - Minot, ND(2) 0 298 1,724 296 298 2,020 2,318 (275 ) 2009 40 years Minot Arrowhead - Minot, ND(2) 0 100 3,216 5,553 176 8,693 8,869 (2,058 ) 1973 40 years Minot Plaza - Minot, ND 758 50 453 155 80 578 658 (339 ) 1993 40 years Minot Southgate Wells Fargo Bank - Minot, ND 0 992 2,194 0 992 2,194 3,186 (24 ) 2014 40 years Plaza 16 - Minot, ND 7,098 389 5,444 3,859 598 9,094 9,692 (2,041 ) 2009 40 years Total Other $ 11,685 $ 3,640 $ 24,933 $ 15,642 $ 4,057 $ 40,158 $ 44,215 $ (9,123 ) Subtotal $ 667,544 $ 111,612 $ 1,223,659 $ 211,096 $ 129,513 $ 1,416,854 $ 1,546,367 $ (313,308 ) INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction Unimproved Land Badger Hills - Rochester, MN $ 0 $ 1,050 $ 0 $ 0 $ 1,050 $ 0 $ 1,050 $ 0 2012 Bismarck 4916 - Bismarck, ND 0 3,250 0 0 3,250 0 3,250 0 2013 Bismarck 700 E Main - Bismarck, ND 0 314 0 565 879 0 879 0 2008 Creekside Crossing - Bismarck, ND 0 4,286 0 0 4,286 0 4,286 0 2014 Georgetown Square - Grand Chute, WI 0 1,860 0 0 1,860 0 1,860 0 2006 Grand Forks — Grand Forks, ND 0 4,278 0 0 4,278 0 4,278 0 2012 Isanti Unimproved - Isanti, MN 0 58 0 0 58 0 58 0 2014 Legends at Heritage Place - Sartell, MN 0 537 0 0 537 0 537 0 2013 Minot 1525 24th Ave SW - Minot, ND 0 1,262 0 0 1,262 0 1,262 0 2014 Monticello - Monticello, MN 0 115 0 3 118 0 118 0 2006 Monticello 7th Addition - Monticello, MN 0 1,734 0 0 1,734 0 1,734 0 2014 Rapid City Unimproved- Rapid City, SD 0 1,376 0 0 1,376 0 1,376 0 2014 Renaissance Heights - Williston, ND 0 2,229 0 1,581 3,810 0 3,810 0 2012 River Falls - River Falls, WI 0 176 0 5 181 0 181 0 2003 Spring Creek Fruitland - Fruitland, IA 0 339 0 0 339 0 339 0 2014 TCA - Eagan, MN 0 325 0 0 325 0 325 0 2006 Urbandale - Urbandale, IA 0 5 0 109 114 0 114 0 2009 Weston - Weston, WI 0 370 0 0 370 0 370 0 2006 Total Unimproved Land $ 0 $ 23,564 $ 0 $ 2,263 $ 25,827 $ 0 $ 25,827 $ 0 Development in Progress 71 France - Edina, MN $ 0 $ 4,721 $ 27,655 $ 2,761 $ 4,721 $ 30,416 $ 35,137 $ 0 2014 Cardinal Point - Grand Forks, ND 0 1,600 21,455 3,395 1,600 24,850 26,450 0 2013 Chateau II - Minot, ND 0 240 12,080 809 240 12,889 13,129 0 2013 Deer Ridge - Jamestown, ND 0 711 13,580 1,064 711 14,644 15,355 0 2013 Edina 6565 France SMC III - Edina, MN 0 0 20,799 1,750 0 22,549 22,549 0 2014 Minot Southgate Retail - Minot, ND 0 889 1,199 76 889 1,275 2,164 0 2014 PrairieCare Medical - Brooklyn Park, MN 0 2,610 14,715 2,132 2,610 16,847 19,457 0 2014 Renaissance Heights - Williston, ND 0 616 11,156 1,363 616 12,519 13,135 0 2013 Other 0 402 3,233 2,983 402 6,216 6,618 0 n/a Total Development in Progress $ 0 $ 11,789 $ 125,872 $ 16,333 $ 11,789 $ 142,205 $ 153,994 $ 0 Total $ 667,544 $ 146,965 $ 1,349,531 $ 229,692 $ 167,129 $ 1,559,059 $ 1,726,189 $ (313,308 ) INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Discontinued Operations 610 Business Center IV - Brooklyn Park, MN $ 6,759 $ 975 $ 5,542 $ 2,886 $ 980 $ 8,423 $ 9,403 $ (2,408 ) 2007 40 years 7800 West Brown Deer Road - Milwaukee, WI 10,320 1,455 8,756 2,431 1,475 11,167 12,642 (4,022 ) 2003 40 years American Corporate Center - Mendota Heights, MN 8,670 893 16,768 4,067 893 20,835 21,728 (8,926 ) 2002 40 years Ameritrade - Omaha, NE 2,020 327 7,957 65 327 8,022 8,349 (3,215 ) 1999 40 years Barry Pointe Office Park - Kansas City, MO 1,369 384 2,366 226 392 2,584 2,976 (547 ) 2007 40 years Benton Business Park - Sauk Rapids, MN 0 188 1,261 87 188 1,348 1,536 (429 ) 2003 40 years Brenwood - Minnetonka, MN 0 1,642 12,138 3,864 1,650 15,994 17,644 (5,810 ) 2002 40 years Brook Valley I - La Vista, NE 1,209 347 1,671 134 347 1,805 2,152 (458 ) 2005 40 years Burnsville 1 Strip Center - Burnsville, MN 0 208 773 200 208 973 1,181 (306 ) 2003 40 years Champlin South Pond - Champlin, MN 1,185 842 2,703 105 866 2,784 3,650 (797 ) 2004 40 years Chan West Village - Chanhassen, MN 12,307 5,035 14,665 2,079 5,679 16,100 21,779 (5,215 ) 2003 40 years Corporate Center West - Omaha, NE 17,315 3,880 5,253 21 3,880 5,274 9,154 (126 ) 2006 40 years Crosstown Centre - Eden Prairie, MN 9,000 2,884 14,569 3,183 2,980 17,656 20,636 (4,939 ) 2004 40 years Duluth 4615 Grand - Duluth, MN 544 130 1,800 156 131 1,955 2,086 (499 ) 2004 40 years Duluth Denfeld Retail - Duluth, MN 1,798 276 4,699 185 297 4,863 5,160 (1,380 ) 2004 40 years Eden Prairie 6101 Blue Circle Dr - Eden Prairie, MN 0 666 4,197 1 666 4,198 4,864 (1,701 ) 1999 40 years Farnam Executive Center - Omaha, NE 12,160 2,188 7,912 1 2,188 7,913 10,101 (190 ) 2006 40 years Flagship - Eden Prairie, MN 21,565 1,899 15,518 31 1,913 15,535 17,448 (373 ) 2006 40 years Forest Lake Auto - Forest Lake, MN 0 50 446 13 50 459 509 (143 ) 2003 40 years Forest Lake Westlake Center - Forest Lake, MN 0 2,446 5,304 1,747 2,480 7,017 9,497 (1,830 ) 2003 40 years Gateway Corporate Center - Woodbury, MN 8,700 1,637 6,663 0 1,637 6,663 8,300 (160 ) 2006 40 years Golden Hills Office Center - Golden Valley, MN 17,417 3,018 18,544 4,313 3,018 22,857 25,875 (8,851 ) 2003 40 years Grand Forks Medpark Mall - Grand Forks, ND 0 681 4,808 231 722 4,998 5,720 (1,924 ) 2000 40 years Granite Corporate Center - St. Cloud, MN 5,313 588 7,808 1,521 740 9,177 9,917 (3,524 ) 2001 40 years Great Plains - Fargo, ND(2) 0 126 15,240 721 126 15,961 16,087 (6,161 ) 1997 40 years Highlands Ranch I - Highlands Ranch, CO 0 2,268 8,362 1,117 2,268 9,479 11,747 (2,211 ) 2006 40 years Highlands Ranch II - Highlands Ranch, CO 0 1,437 9,549 1,901 1,437 11,450 12,887 (3,391 ) 2004 40 years Interlachen Corporate Center - Edina, MN 8,800 1,650 14,983 2,530 1,693 17,470 19,163 (6,389 ) 2001 40 years Intertech Building - Fenton, MO 4,177 2,130 3,968 1,721 2,191 5,628 7,819 (1,253 ) 2007 40 years Jamestown Buffalo Mall - Jamestown, ND 1,717 566 5,551 2,975 1,114 7,978 9,092 (1,996 ) 2003 40 years Jamestown Business Center - Jamestown, ND 327 297 1,023 1,312 333 2,299 2,632 (965 ) 2003 40 years Lakeville Strip Center - Lakeville, MN 0 46 1,142 955 94 2,049 2,143 (726 ) 2003 40 years Mendota Office Center I - Mendota Heights, MN 3,734 835 6,169 1,402 835 7,571 8,406 (2,683 ) 2002 40 years Mendota Office Center II - Mendota Heights, MN 5,516 1,121 10,085 2,097 1,121 12,182 13,303 (4,882 ) 2002 40 years Mendota Office Center III - Mendota Heights, MN 3,791 970 5,734 957 970 6,691 7,661 (2,419 ) 2002 40 years Mendota Office Center IV - Mendota Heights, MN 4,507 1,070 7,635 1,510 1,070 9,145 10,215 (3,235 ) 2002 40 years INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial Cost to Company Costs capitalized Gross amount at which carried at Date of Life on which Description Encumbrances(1) Land Buildings & subsequent to Land Buildings & Total Accumulated Construction statement is Discontinued Operations continued Minnesota National Bank - Duluth, MN 628 287 1,454 224 288 1,677 1,965 (475 ) 2004 40 years Miracle Hills One - Omaha, NE 8,895 1,974 5,726 6 1,974 5,732 7,706 (139 ) 2006 40 years Monticello C Store - Monticello, MN 0 65 770 37 97 775 872 (247 ) 2003 40 years Northpark Corporate Center - Arden Hills, MN 11,519 2,034 14,584 2,497 2,037 17,078 19,115 (4,231 ) 2006 40 years Omaha 10802 Farnam Dr - Omaha, NE 5,061 2,462 4,374 392 2,818 4,410 7,228 (525 ) 2010 40 years Omaha Barnes & Noble - Omaha, NE 0 600 3,099 0 600 3,099 3,699 (1,511 ) 1995 40 years Pacific Hills - Omaha, NE 16,770 4,220 6,280 243 4,220 6,523 10,743 (180 ) 2006 40 years Pine City C-Store - Pine City, MN 0 83 357 12 83 369 452 (118 ) 2003 40 years Pine City Evergreen Square - Pine City, MN 0 154 2,646 1,334 385 3,749 4,134 (1,104 ) 2003 40 years Plaza VII - Boise, ID 0 300 913 4 300 917 1,217 (11 ) 2003 40 years Plymouth 5095 Nathan Lane - Plymouth, MN 1,147 604 1,253 87 636 1,308 1,944 (258 ) 2007 40 years Prairie Oak Business Center - Eden Prairie, MN 3,120 531 4,069 2,523 1,030 6,093 7,123 (2,365 ) 2003 40 years Rapid City 900 Concourse Drive - Rapid City, SD 181 285 6,600 1,151 514 7,522 8,036 (2,912 ) 2000 40 years Riverport - Maryland Heights, MO 19,690 1,891 6,109 0 1,891 6,109 8,000 (146 ) 2006 40 years Rochester Maplewood Square - Rochester, MN 6,325 3,275 8,610 2,155 3,652 10,388 14,040 (3,936 ) 1999 40 years Spring Valley IV - Omaha, NE 720 178 916 60 186 968 1,154 (259 ) 2005 40 years Spring Valley V - Omaha, NE 792 212 1,123 251 240 1,346 1,586 (388 ) 2005 40 years Spring Valley X - Omaha, NE 734 180 1,024 80 189 1,095 1,284 (282 ) 2005 40 years Spring Valley XI - Omaha, NE 720 143 1,094 36 151 1,122 1,273 (276 ) 2005 40 years St. Cloud Westgate - St. Cloud, MN 0 885 5,535 1,396 1,002 6,814 7,816 (1,827 ) 2004 40 years Superior Office Building - Duluth, MN 944 336 2,200 143 336 2,343 2,679 (688 ) 2004 40 years TCA Building - Eagan, MN 7,500 627 8,571 915 684 9,429 10,113 (2,767 ) 2003 40 years Three Paramount Plaza - Bloomington, MN 0 1,261 6,149 1,961 1,482 7,889 9,371 (3,085 ) 2002 40 years Timberlands - Leawood, KS 13,155 2,375 9,601 189 2,375 9,790 12,165 (242 ) 2006 40 years UHC Office - International Falls, MN 800 119 2,366 230 119 2,596 2,715 (734 ) 2004 40 years US Bank Financial Center - Bloomington, MN 12,766 3,117 13,350 2,023 3,195 15,295 18,490 (3,805 ) 2005 40 years Wells Fargo Center - St Cloud, MN 5,787 869 8,373 1,956 884 10,314 11,198 (2,641 ) 2005 40 years West River Business Park - Waite Park, MN 0 235 1,195 267 235 1,462 1,697 (430 ) 2003 40 years Westgate - Boise, ID 3,844 1,000 10,618 1,933 1,000 12,551 13,551 (4,512 ) 2003 40 years Woodlands Plaza IV - Maryland Heights, MO 4,360 771 4,609 1,461 862 5,979 6,841 (1,501 ) 2006 40 years Total Discontinued Operations $ 295,678 $ 76,228 $ 405,130 $ 70,311 $ 80,424 $ 471,245 $ 551,669 $ (135,679 ) (1) Amounts in this column are the mortgages payable balances as of April 30, 2015. These amounts do not include amounts owing under the Company’s multi-bank line of credit or under the Company’s construction loans. (2) As of April 30, 201 5 90.0 INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION Reconciliations of the carrying value of total property owned for the three years ended April 30, 2015, 2014, and 2013 are as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 1,450,216 $ 1,435,574 $ 1,303,393 Additions during year Multifamily 183,114 84,117 113,859 Healthcare 0 18,005 11,122 Industrial 9,037 0 5,900 Other 3,186 0 1,240 Improvements and Other 22,665 24,619 27,037 1,668,218 1,562,315 1,462,551 Deductions during year Cost of real estate sold (15,719 ) (85,030 ) (21,953 ) Impairment charge (1,566 ) (8,322 ) (305 ) Write down of asset and accumulated depreciation on impaired assets (881 ) (6,291 ) 0 Properties classified as held for sale during the year (97,824 ) (10,307 ) (1,893 ) Other(1) (5,861 ) (2,149 ) (2,826 ) Balance at close of year $ 1,546,367 $ 1,450,216 $ 1,435,574 Reconciliations of accumulated depreciation/amortization for the three years ended April 30, 2015, 2014, and 2013, are as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 302,405 $ 289,624 $ 258,809 Additions during year Provisions for depreciation 45,498 40,450 40,032 Deductions during year Accumulated depreciation on real estate sold or classified as held for sale (29,463 ) (19,413 ) (6,444 ) Write down of asset and accumulated depreciation on impaired assets (881 ) (6,291 ) 0 Other(1) (4,251 ) (1,965 ) (2,773 ) Balance at close of year $ 313,308 $ 302,405 $ 289,624 INVESTORS REAL ESTATE TRUST AND SUBSIDIARIES April 30, 2015 Schedule III REAL ESTATE AND ACCUMULATED DEPRECIATION - continued Reconciliations of development in progress for the three years ended April 30, 2015, 2014, and 2013, are as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 104,609 $ 46,782 $ 27,599 Additions during year Unimproved land acquisitions 12,647 2,079 9,177 Unimproved land moved to development in progress 7,015 2,870 0 Improvements and other 189,306 123,240 52,970 Deductions during year Involuntary conversion 0 (7,052 ) 0 Development placed in service(2) (159,578 ) (63,210 ) (42,964 ) Other(3) (5 ) (100 ) 0 Balance at close of year $ 153,994 $ 104,609 $ 46,782 Reconciliations of unimproved land for the three years ended April 30, 2015, 2014, and 2013, are as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 22,864 $ 21,503 $ 10,990 Additions during year Unimproved land acquisitions 10,487 3,022 13,329 Improvements and other 1,533 1,209 854 Deductions during year Cost of real estate sold (670 ) 0 0 Impairment charge (1,293 ) 0 0 Properties classified as held for sale during the year (79 ) 0 0 Unimproved land moved to development in progress (7,015 ) (2,870 ) (3,670 ) Balance at close of year $ 25,827 $ 22,864 $ 21,503 Total real estate investments(4) $ 1,412,880 $ 1,275,284 $ 1,214,235 (1) Consists of miscellaneous disposed assets. (2) Includes development projects that are placed in service in phases. (3) Consists of miscellaneous re-classed assets. (4) The net basis of the Company’s real estate

BASIS OF PRESENTATION AND SIG30

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Apr. 30, 2015
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The accompanying consolidated financial statements include the accounts of IRET and all subsidiaries in which it maintains a controlling interest. All intercompany balances and transactions are eliminated in consolidation. The Company’s fiscal year ends April 30th. The accompanying consolidated financial statements include the accounts of IRET and its general partnership interest in the Operating Partnership. The Company’s interest in the Operating Partnership was 89.9% and 83.8%, respectively, as of April 30, 2015 and 2014, which includes 100% of the general partnership interest. The limited partners have a redemption option that they may exercise. Upon exercise of the redemption option by the limited partners, IRET has the option of redeeming the limited partners’ interests (“Units”) for IRET common shares of beneficial interest, on a one-for-one basis, or for cash payment to the unitholder. The redemption generally may be exercised by the limited partners at any time after the first anniversary of the date of the acquisition of the Units (provided, however, that not more than two redemptions by a limited partner may occur during each calendar year, and each limited partner may not exercise the redemption for less than 1,000 Units, or, if such limited partner holds less than 1,000 Units, for all of the Units held by such limited partner). Some limited partners have contractually agreed to a holding period of greater than one year. The consolidated financial statements also reflect the ownership by the Operating Partnership of certain joint venture entities in which the Operating Partnership has a controlling interest. These entities are consolidated into IRET’s other operations with noncontrolling interests reflecting the noncontrolling partners’ share of ownership and income and expenses.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Leases. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
RECLASSIFICATIONS	RECLASSIFICATIONS Certain previously reported amounts have been reclassified to conform to the current financial statement presentation. On the Consolidated Statements of Operations, the Company reclassified advisory and trustee services to administrative expenses and also reclassified TRS senior housing revenue and TRS senior housing expenses from other income to TRS senior housing revenue and TRS senior housing expenses, respectively. The Company reports, in discontinued operations, the results of operations and any gain or loss on sale of a property or group of properties that has either been disposed of or is classified as held for sale and for which the disposition represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. As a result of discontinued operations, retroactive reclassifications that change prior period numbers have been made. See Note 12 for additional information. During fiscal year 2016, the Company classified as held for sale and discontinued operations 48 office properties, 17 retail properties and 1 healthcare property. These properties were subsequently sold during fiscal year 2016. The results of operations for these properties are included in income from discontinued operations in the Consolidated Statements of Operations. The assets and liabilities associated with these properties are included in assets held for sale and liabilities held for sale, respectively, in the Consolidated Balance Sheets. During fiscal year 2016, the Company reduced its number of reportable segments from five to three when its office and retail segments fell below the quantitative thresholds for reporting as reportable segments. Historical segment information has been reclassified in accordance with the Company’s current segment structure.
REAL ESTATE INVESTMENTS	REAL ESTATE INVESTMENTS Real estate investments are recorded at cost less accumulated depreciation and an adjustment for impairment, if any. Acquisitions of real estate are recorded based upon preliminary allocations of the purchase price which are subject to adjustment as additional information is obtained, but in no case more than one year after the date of acquisition. The Company allocates the purchase price based on the relative fair values of the tangible and intangible assets of an acquired property (which includes the land, building, and personal property) which are determined by valuing the property as if it were vacant and to fair value of the intangible assets (which include in-place leases.) The as-if-vacant value is allocated to land, buildings, and personal property based on management’s determination of the relative fair values of these assets. The estimated fair value of the property is the amount that would be recoverable upon the disposition of the property. Techniques used to estimate fair value include discounted cash flow analysis and reference to recent sales of comparables. A land value is assigned based on the purchase price if land is acquired separately or based on estimated fair value if acquired in a merger or in a single or portfolio acquisition. Acquired above- and below-market lease values are recorded as the difference between the contractual amounts to be paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized above- and below-market lease values are amortized as adjustments to rental revenue over the remaining terms of the respective leases, which includes fixed rate renewal options for below-market leases if it is determined probable the tenant will execute a bargain renewal option. Other intangible assets acquired include amounts for in-place lease values that are based upon the Company’s evaluation of the specific characteristics of the leases. Factors considered in the fair value analysis include an estimate of carrying costs and foregone rental income during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. The Company also considers information about each property obtained during its pre-acquisition due diligence, marketing and leasing activities in estimating the relative fair value of the tangible and intangible assets acquired. Depreciation is computed on a straight-line basis over the estimated useful lives of the assets. The Company uses a 20-40 year estimated life for buildings and improvements and a 5-12 year estimated life for furniture, fixtures and equipment. The Company follows the real estate project costs guidance in ASC 970, Real Estate — General, Expenditures for ordinary maintenance and repairs are expensed to operations as incurred. Renovations and improvements that improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful life, generally five to ten years. Property sales or dispositions are recorded when title transfers and sufficient consideration has been received by the Company and the Company has no significant involvement with the property sold. The Company periodically evaluates its long-lived assets, including its real estate investments, for impairment indicators. The judgments regarding the existence of impairment indicators are based on factors such as operational performance, market conditions, expected holding period of each asset group and legal and environmental concerns. If indicators exist, the Company compares the expected future undiscounted cash flows for the long-lived asset group against the carrying amount of that asset. If the sum of the estimated undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recorded for the difference between the estimated fair value and the carrying amount of the asset group. If our anticipated holding period for properties, the estimated fair value of properties or other factors change based on market conditions or otherwise, our evaluation of impairment charges may be different and such differences could be material to our consolidated financial statements. The evaluation of anticipated cash flows is subjective and is based, in part, on assumptions regarding future occupancy, rental rates and capital requirements that could differ materially from actual results. Plans to hold properties over longer periods decrease the likelihood of recording impairment losses. During fiscal year 2015, the Company incurred a non-cash loss of $6.1 million due to impairment of four commercial properties and two parcels of unimproved land of which $1.4 million is reflected in discontinued operations. The Company recognized impairments of $2.1 million on a retail property in Kalispell, Montana, approximately $183,000 on an office property in Golden Valley, Minnesota, $1.8 million on an office property in Minneapolis, Minnesota, $1.4 million on an office property in Boise, Idaho, approximately $98,000 on unimproved land in Eagan, Minnesota, and approximately $442,000 on unimproved land in Weston, Wisconsin. These properties were written-down to estimated fair value during fiscal year 2015 based on receipt of individual market offers to purchase and the Company’s intent to dispose of the properties or, in the case of the Boise and Weston properties, an independent appraisal. The Kalispell and Golden Valley properties were sold in the second quarter of fiscal year 2015. The Minneapolis property is classified as held for sale at April 30, 2015. During fiscal year 2014, the Company incurred a non-cash loss of $44.4 million due to impairment of 15 properties, of which $36.7 million is reflected in discontinued operations. See Note 12 for additional information on discontinued operations. The Company recognized impairments of approximately $864,000 on an industrial property in St. Louis Park, Minnesota; $329,000 on an office property in Bloomington, Minnesota; $265,000 on a retail property in Anoka, Minnesota; $402,000 on an industrial property in Clive, Iowa and $4.8 million on an industrial property in Roseville, Minnesota. These properties were written-down to estimated fair value based on receipt of individual market offers to purchase and the Company’s intent to dispose of the properties or, in the case of the Roseville, Minnesota property, a commitment to dispose of a significant portion of the property due to planned redevelopment. The approximately $835,000 impairment of the Company’s Edina, Minnesota, office property was based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the fourth quarter of fiscal year 2014). This property was classified as held for sale at April 30, 2014. An impairment loss of $2.1 million was recognized during fiscal year 2014 for the Company’s Golden Valley, Minnesota, office property based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the first quarter of fiscal year 2015). The Company recognized in the fourth quarter of fiscal year 2014 a $34.9 million impairment loss on eight office properties located in four states. These properties are part of a portfolio of nine office properties securing a $122.6 million non-recourse CMBS loan with a maturity date of October 6, 2016. Due to concerns over the borrower’s ability to refinance the portfolio at loan maturity, the Company revised its assumptions regarding the holding period of these properties. The Company commissioned a third-party appraisal of the properties, the result of which indicated a fair value of the portfolio below net book value, and, accordingly, an impairment loss was recorded for the difference. Because the loan amount significantly exceeded the Company’s estimate of the fair value of this nine-property portfolio, the Company initiated discussions with the special servicer to discuss various alternatives with regard to the loan. On April 14, 2015, the Company received a default notice regarding the $122.6 million non-recourse loan between a Company subsidiary as borrower and Citigroup Global Markets Realty Corp as lender due to a nonpayment on April 6, 2015. The Company cannot predict the outcome of the discussions with the special servicer on this loan. During fiscal year 2013, the Company incurred a loss of approximately $305,000 due to impairment of one property. The impairment of the Company’s Eagan, Minnesota, retail property was based on receipt of a market offer to purchase and the Company’s intent to dispose of the property (a purchase agreement was signed by the Company in the fourth quarter of fiscal year 2013). The impairment charge for fiscal year 2013 is reported in discontinued operations. See Note 12 for additional information.
REAL ESTATE HELD FOR SALE	REAL ESTATE HELD FOR SALE Real estate held for sale is stated at the lower of its carrying amount or estimated fair value less disposal costs. The Company’s determination of fair value is based on inputs management believes are consistent with those that market participants would use. Estimates are significantly impacted by estimates of sales price, selling velocity, and other factors. Due to uncertainties in the estimation process, actual results could differ from such estimates. Depreciation is not recorded on assets classified as held for sale. Properties are classified as held for sale when they meet the necessary criteria, which include: (a) management, having the authority to approve the action, commits to a plan to sell the asset and (b) the sale of the asset is probable and expected to be completed within one year. The Company generally considers these criteria met when the transaction has been approved by our Board of Directors, there are no known significant contingencies related to the sale and management believes it is probable that the sale will be completed within one year. During fiscal year 2016, the Company classified as held for sale and discontinued operations 48 office properties, 17 retail properties and 1 healthcare property. One office property and one medical property were classified as held for sale at April 30, 2015, with assets of $22.9 million and liabilities of $138.8 million. An office property was classified as held for sale at April 30, 2014. Prior to February 1, 2014, the Company reported, in discontinued operations, the results of operations and the related gains or losses of properties that had either been disposed of or classified as held for sale and otherwise met the classification of a discontinued operation. Effective February 1, 2014 the Company adopted ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity As a result of the adoption of ASU 2014-08, results of operations and gains or losses on sale for properties that are disposed or classified as held for sale in the ordinary course of business on or subsequent to February 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations, to the extent such disposals did not meet the criteria for classification as a discontinued operation described above.
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL	IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL Upon acquisition of real estate, the Company records the intangible assets and liabilities acquired (for example, if the leases in place for the real estate property acquired carry rents above the market rent, the difference is classified as an intangible asset) at their estimated fair value separate and apart from goodwill. The Company amortizes identified intangible assets and liabilities that are determined to have finite lives based on the period over which the assets and liabilities are expected to affect, directly or indirectly, the future cash flows of the real estate property acquired (generally the life of the lease). In the twelve months ended April 30, 2015 and 2014, respectively, the Company added approximately $416,000 and $900,000 of new intangible assets and no new intangible liabilities. The weighted average lives of the intangible assets acquired in the twelve months ended April 30, 2015 and 2014 are 0.5 years and 0.7 years, respectively. Amortization of intangibles related to above or below-market leases is recorded in real estate rentals in the Consolidated Statements of Operations. Amortization of other intangibles is recorded in depreciation/amortization related to real estate investments in the Consolidated Statements of Operations. Intangible assets subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. An impairment loss is recognized if the carrying amount of an intangible asset is not recoverable and its carrying amount exceeds its estimated fair value. The excess of the cost of an acquired business over the net of the amounts assigned to assets acquired (including identified intangible assets) and liabilities assumed is recorded as goodwill. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Goodwill book value as of April 30, 2015 and 2014 was $1.9 million and $1.1 million, respectively. The annual reviews of goodwill compared the fair value of the reporting units that have been assigned goodwill to their carrying value (investment cost less accumulated depreciation), with the results for these periods indicating no impairment. In fiscal year 2015, the Company recognized approximately $852,000 of goodwill from the acquisition of the Homestead Garden residential property and disposed of one residential property and two commercial properties to which goodwill had been assigned, and as a result, approximately $40,000 of goodwill was derecognized. In fiscal years 2014 and 2013, the Company disposed of property that had goodwill assigned, and as a result, approximately $7,000 and $14,000, respectively, of goodwill was derecognized.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment consists of the equipment contained at IRET’s headquarters in Minot, North Dakota, corporate offices in Minneapolis and St. Cloud, Minnesota, and additional property management offices located in the states where we own properties. The balance sheet reflects these assets at cost, net of accumulated depreciation. As of April 30, 2015 and 2014, property and equipment cost was $3.0 million and $3.7 million, respectively. Accumulated depreciation was $1.5 million and $2.0 million as of April 30, 2015 and 2014, respectively.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS Cash and cash equivalents include all cash and highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents consist of the Company’s bank deposits and short-term investment certificates acquired subject to repurchase agreements, and the Company’s deposits in a money market mutual fund. At times these deposits may exceed the FDIC limit.
COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS	COMPENSATING BALANCES AND OTHER INVESTMENTS; LENDER HOLDBACKS The Company maintains compensating balances, not restricted as to withdrawal, with several financial institutions in connection with financing received from those institutions and/or to ensure future credit availability. At April 30, 2015 the Company’s compensating balances totaled $14.3 million and consisted of the following: First International Bank, Watford City, North Dakota, deposit of $6.1 million; Private Bank, Minneapolis, Minnesota, deposit of $2.0 million; Associated Bank, Green Bay, Wisconsin, deposit of $3.6 million; American National Bank, Omaha, Nebraska, deposit of $400,000; Dacotah Bank, Minot, North Dakota, deposit of $350,000; United Community Bank, Minot, North Dakota, deposit of $275,000; Peoples State Bank of Velva, North Dakota, deposit of $225,000; Commerce Bank, a Minnesota Banking Corporation, deposit of $100,000; and Bremer Bank, Saint Paul, Minnesota, deposit of $1.3 million. The deposit at United Community Bank and a portion of the deposit at Dacotah Bank are held as certificates of deposit and comprise the approximately $329,000 in other investments on the Consolidated Balance Sheets. The certificates of deposit have remaining terms of six months and two years and the Company intends to hold them to maturity. The Company has a number of mortgage loans under which the lender retains a portion of the loan proceeds for the payment of construction costs or tenant improvements. The decrease of $10.7 million in lender holdbacks for improvements reflected in the Consolidated Statements of Cash Flows for the fiscal year ended April 30, 2015 is due primarily to the release of loan proceeds to the Company upon completion of these construction milestones and tenant improvement projects, while the increase of $1.2 million represents additional amounts retained by lenders for new projects.
ALLOWANCE FOR DOUBTFUL ACCOUNTS	ALLOWANCE FOR DOUBTFUL ACCOUNTS Management evaluates the appropriate amount of the allowance for doubtful accounts by assessing the recoverability of individual real estate mortgage loans and rent receivables, through a comparison of their carrying amount with their estimated realizable value. Management considers tenant financial condition, credit history and current economic conditions in establishing these allowances. Receivable balances are written off when deemed uncollectible. Recoveries of receivables previously written off, if any, are recorded when received. A summary of the changes in the allowance for doubtful accounts for fiscal years ended April 30, 2015, 2014 and 2013 is as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 1,044 $ 1,393 $ 1,363 Provision 967 434 665 Write-off (855 ) (783 ) (635 ) Balance at close of year $ 1,156 $ 1,044 $ 1,393
TAX, INSURANCE, AND OTHER ESCROW	TAX, INSURANCE, AND OTHER ESCROW Tax, insurance, and other escrow includes funds deposited with a lender for payment of real estate tax and insurance, and reserves for funds to be used for replacement of structural elements and mechanical equipment of certain projects. The funds are under the control of the lender. Disbursements are made after supplying written documentation to the lender.
REAL ESTATE DEPOSITS	REAL ESTATE DEPOSITS Real estate deposits include funds held by escrow agents to be applied toward the purchase of real estate or the payment of loan costs associated with loan placement or refinancing.
DEFERRED CHARGES AND LEASING COSTS	DEFERRED CHARGES AND LEASING COSTS Costs and commissions incurred in obtaining tenant leases are amortized on the straight-line method over the terms of the related leases. Costs incurred in obtaining long-term financing are amortized to interest expense over the life of the loan using the straight-line method, which approximates the effective interest method.
INCOME TAXES	INCOME TAXES IRET operates in a manner intended to enable it to continue to qualify as a REIT under Sections 856-860 of the Internal Revenue Code of 1986, as amended. Under those sections, a REIT which distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions will not be taxed on that portion of its taxable income which is distributed to shareholders. For the fiscal years ended April 30, 2015, 2014 and 2013, the Company distributed in excess of 90% of its taxable income and realized capital gains from property dispositions within the prescribed time limits; accordingly, no provision has been made for federal income taxes in the accompanying consolidated financial statements. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate rates (including any alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, the Company may be subject to certain state and local income and property taxes, and to federal income and excise taxes on undistributed taxable income. In general, however, if the Company qualifies as a REIT, no provisions for federal income taxes are necessary except for taxes on undistributed REIT taxable income and taxes on the income generated by a taxable REIT subsidiary (TRS). The Company has one TRS, acquired during the second quarter of fiscal year 2014, which is subject to corporate federal and state income taxes on its taxable income at regular statutory rates. For fiscal year 2015, the Company estimates that the TRS will have no taxable income. There were no income tax provisions or material deferred income tax items for our TRS for the fiscal years ended April 30, 2015 and 2014. The Company’s TRS is the tenant in the Company’s Legends at Heritage Place senior housing facility. IRET conducts its business activity as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) through its Operating Partnership. UPREIT status allows IRET to accept the contribution of real estate in exchange for Units. Generally, such a contribution to a limited partnership allows for the deferral of gain by an owner of appreciated real estate. Distributions for the calendar year ended December 31, 2014 were characterized, for federal income tax purposes, as 25.74% ordinary income, 23.09% capital gain and 51.17% return of capital. Distributions for the calendar year ended December 31, 2013 were characterized, for federal income tax purposes, as 28.41% ordinary income, 3.09% capital gain and 68.50% return of capital.
REVENUE RECOGNITION	REVENUE RECOGNITION Residential rental properties are leased under operating leases with terms generally of one year or less. Commercial properties are leased under operating leases to tenants for various terms generally exceeding one year. Lease terms often include renewal options. Rental revenue is recognized on the straight-line basis, which averages minimum required rents over the terms of the leases. Rents recognized in advance of collection are reflected as receivable arising from straight-lining of rents, net of allowance for doubtful accounts. Rent concessions, including free rent, are amortized on a straight-line basis over the terms of the related leases. Reimbursements from tenants for real estate taxes and other recoverable operating expenses are recognized as revenue in the period the applicable expenditures are incurred. IRET receives payments for these reimbursements from substantially all of its tenants at multi-tenant commercial properties throughout the year. A number of the commercial leases provide for a base rent plus a percentage rent based on gross sales in excess of a stipulated amount. These percentage rents are recorded once the required sales level is achieved.
NET INCOME PER SHARE	NET INCOME PER SHARE Basic net income per share is computed as net income available to common shareholders divided by the weighted average number of common shares outstanding for the period. The Company has no potentially dilutive financial interests; the potential exchange of Units for common shares will have no effect on net income per share because Unitholders and common shareholders effectively share equally in the net income of the Operating Partnership.
PROCEEDS FROM FINANCING LIABILITY	PROCEEDS FROM FINANCING LIABILITY During the first quarter of fiscal year 2014, the Company sold a non-core assisted living property in exchange for $7.9 million in cash and a $29.0 million contract for deed which matures August 1, 2018. The buyer leased the property back to the Company, and also granted an option to the Company to repurchase the property at a specified price at or prior to July 31, 2018. IRET accounted for the transaction as a financing due to the Company’s continuing involvement with the property and recorded the $7.9 million in sales proceeds within other liabilities on the Consolidated Balance Sheets. The balance of the liability as of April 30, 2015 is $7.9 million.
VARIABLE INTEREST ENTITY	VARIABLE INTEREST ENTITY On November 27, 2012, the Company entered into a joint venture operating agreement with a real estate development company to construct an apartment project in Minot, North Dakota as IRET — Minot Apartments, LLC. The Company estimated total costs for the project at $52.2 million, with approximately 69% of the project financed with third-party debt and approximately 7% financed with debt from IRET to the joint venture entity. The first phase of the project, Landing at Southgate, was substantially completed in the second quarter of fiscal year 2014. The second phase of the project, Commons at Southgate, was substantially completed in the third quarter of fiscal year 2015. As of April 30, 2015, IRET is the approximately 52.9% owner of the joint venture and has management and leasing responsibilities; the real estate development company owns approximately 47.1% of the joint venture and was responsible for the development and construction of the property. The Company has determined that the joint venture is a variable interest entity (“VIE”), primarily based on the fact that the equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support. The Company has also determined that IRET is the primary beneficiary of the VIE due to the fact that IRET is providing more than 50% of the equity contributions, the subordinated debt and a guarantee on the third party debt and has the power to direct the most significant activities that impact the entity’s economic performance. On June 12, 2014, the Company entered into a
INVOLUNTARY CONVERSION OF ASSETS	INVOLUNTARY CONVERSION OF ASSETS In June 2011, both the Company’s Minot Arrowhead retail property and Chateau Apartments property, which at that time consisted of two 32-unit buildings, were extensively damaged by a flood. In February 2012, one of the buildings of the Chateau Apartments property, which had been undergoing restoration work following the flood, was completely destroyed by fire (the “2012 Fire”). Final settlement of the flood insurance claim was reached in fiscal year 2013 with total proceeds received of $8.5 million for flood clean-up costs and redevelopment. Final settlement of the 2012 Fire insurance claim was reached in fiscal year 2014 with total proceeds received of $5.1 million for redevelopment. Insurance proceeds for these events exceeded the basis in the assets requiring replacement, resulting in recognition of the following gains from involuntary conversion in fiscal years 2014 and 2013: (in thousands) Year Ended April 30, 2014 2013 Gain on involuntary conversion Flood $ 0 $ 2,821 2012 Fire 2,480 2,263 Total gain on involuntary conversion $ 2,480 $ 5,084 Final settlement was reached during fiscal year 2013 for business interruption claims from the flood and 2012 Fire with proceeds received during fiscal years 2013 of approximately $409,000. Reimbursement for business interruption is included within real estate rentals in the Consolidated Statements of Operations. In December 2013, 15-unit and 57-unit buildings at the Chateau Apartments property were destroyed by fire (the “2013 Fire”). Both buildings were under construction and were unoccupied. The Company is rebuilding both buildings, and expects them to be completed in the first quarter of fiscal year 2016. The Company received proceeds for the 2013 Fire claim of $1.0 million in fiscal year 2014 and $6.0 million fiscal 2015, which reduced to zero the accounts receivable recorded at the time of the fire for expected proceeds. No gain or loss on involuntary conversion was recorded due to the settlement of the claim.

BASIS OF PRESENTATION AND SIG31

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Apr. 30, 2015
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Summary of Changes in Allowance for Doubtful Accounts	A summary of the changes in the allowance for doubtful accounts for fiscal years ended April 30, 2015, 2014 and 2013 is as follows: (in thousands) 2015 2014 2013 Balance at beginning of year $ 1,044 $ 1,393 $ 1,363 Provision 967 434 665 Write-off (855 ) (783 ) (635 ) Balance at close of year $ 1,156 $ 1,044 $ 1,393
Summary of Total Gain on Involuntary Conversion	Final settlement of the 2012 Fire insurance claim was reached in fiscal year 2014 with total proceeds received of $5.1 million for redevelopment. Insurance proceeds for these events exceeded the basis in the assets requiring replacement, resulting in recognition of the following gains from involuntary conversion in fiscal years 2014 and 2013: (in thousands) Year Ended April 30, 2014 2013 Gain on involuntary conversion Flood $ 0 $ 2,821 2012 Fire 2,480 2,263 Total gain on involuntary conversion $ 2,480 $ 5,084

PROPERTY OWNED (Tables)

PROPERTY OWNED (Tables)	12 Months Ended
	Apr. 30, 2015
PROPERTY OWNED [Abstract]
Schedule of Future Minimum Lease Payments	The future minimum lease receipts to be received under non-cancellable leases for commercial properties, including those held for sale, as of April 30, 2015, assuming that no options to renew or buy out the lease are exercised, are as follows: Year Ended April 30, (in thousands) 2016 $ 112,320 2017 99,963 2018 84,455 2019 70,049 2020 52,576 Thereafter 130,313 $ 549,676

IDENTIFIED INTANGIBLE ASSETS 33

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Apr. 30, 2015
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES [Abstract]
Schedule Identified Intangible Assets and Intangible Liabilities	The Company’s identified intangible assets and intangible liabilities at April 30, 2015 and 2014 were as follows: (in thousands) April 30, 2015 April 30, 2014 Identified intangible assets (included in intangible assets): Gross carrying amount $ 45,823 $ 48,181 Accumulated amortization (19,610 ) (17,286 ) Net carrying amount $ 26,213 $ 30,895 Identified intangible liabilities (included in other liabilities): Gross carrying amount $ 82 $ 127 Accumulated amortization (61 ) (90 ) Net carrying amount $ 21 $ 37
Estimated Annual Amortization of Acquired Below-Market Leases, Net Of Acquired Above-Market Leases	The estimated annual amortization of acquired below-market leases, net of acquired above-market leases for each of the five succeeding fiscal years is as follows: Year Ended April 30, (in thousands) 2016 $ 22 2017 11 2018 (3 ) 2019 (3 ) 2020 (1 )
Estimated Annual Amortization of All Other Identified Intangible Assets	The estimated annual amortization of all other identified intangible assets for each of the five succeeding fiscal years is as follows: Year Ended April 30, (in thousands) 2016 $ 4,000 2017 3,698 2018 3,469 2019 3,433 2020 3,390

NONCONTROLLING INTERESTS (Table

NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Apr. 30, 2015
NONCONTROLLING INTERESTS [Abstract]
Schedule of Noncontrolling Interests - Consolidated Real Estate Entities	The Company’s noncontrolling interests — consolidated real estate entities at April 30, 2015 and 2014 were as follows: (in thousands) April 30, 2015 April 30, 2014 IRET-71 France, LLC $ 8,630 $ 0 IRET-Cypress Court Apartments, LLC 1,089 1,127 IRET-RED 20, LLC 3,072 3,277 IRET-Williston Garden Apartments, LLC 3,090 2,804 IRET - Jamestown Medical Building, LLC 0 1,219 IRET - WRH 1, LLC 6,138 5,672 Mendota Properties LLC 7,294 7,333 WRH Holding, LLC 1,206 1,206 Noncontrolling interests — consolidated real estate entities $ 30,519 $ 22,638

LINE OF CREDIT (Tables)

LINE OF CREDIT (Tables)	12 Months Ended
	Apr. 30, 2015
LINE OF CREDIT [Abstract]
Schedule of Line of Credit Facilities	This credit facility is summarized in the following table: Weighted (in thousands) Average Int. Financial Institution Amount Amount Amount Applicable Maturity Rate on First International Bank & Trust $ 90,000 $ 60,500 $ 22,500 4.75 % 9/1/17 4.75 %

MORTGAGES PAYABLE AND CONSTRU36

MORTGAGES PAYABLE AND CONSTRUCTION DEBT (Tables)	12 Months Ended
	Apr. 30, 2015
MORTGAGES PAYABLE AND CONSTRUCTION DEBT [Abstract]
Aggregate Amount of Required Future Principal Payments on Mortgages Payable	The aggregate amount of required future principal payments on mortgages payable as of April 30, 2015, excluding $11.5 million in outstanding mortgage indebtedness related to assets held for sale, is as follows: Year Ended April 30, (in thousands) 2016 $ 95,870 2017 41,549 2018 51,984 2019 90,716 2020 72,060 Thereafter 315,933 Total payments $ 668,112

ACQUISITIONS, DEVELOPMENT PRO37

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS (Tables)	12 Months Ended
	Apr. 30, 2015
ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS [Abstract]
Acquisitions	The fiscal year 2015 and 2014 acquisitions are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Total Form of Consideration Investment Allocation Acquisition Intangible Acquisitions Date Acquired Cost Cash Units(1) Other(2) Land Building Assets Multifamily 152 unit - Homestead Garden - Rapid City, SD(3) 2014-06-02 $ 15,000 $ 5,092 $ 0 $ 9,908 $ 655 $ 14,139 $ 206 52 unit - Silver Springs - Rapid City, SD 2014-06-02 3,280 1,019 0 2,261 215 3,006 59 68 unit - Northridge - Bismarck, ND 2014-09-12 8,500 8,400 100 0 884 7,516 100 119 unit - Legacy Heights - Bismarck, ND(4) 2015-03-19 15,000 14,300 700 0 1,207 13,742 51 41,780 28,811 800 12,169 2,961 38,403 416 Unimproved Land Creekside Crossing - Bismarck, ND 2014-05-22 4,269 4,269 0 0 4,269 0 0 PrairieCare Medical - Brooklyn Park, MN 2014-06-05 2,616 2,616 0 0 2,616 0 0 71 France Phase I - Edina, MN(5) 2014-06-12 1,413 0 0 1,413 1,413 0 0 Monticello 7 th Addition - Monticello, MN 2014-10-09 1,660 1,660 0 0 1,660 0 0 71 France Phase II & III - Edina, MN(5) 2014-11-04 3,309 0 0 3,309 3,309 0 0 Minot 1525 24 th Ave SW - Minot, ND 2014-12-23 1,250 1,250 0 0 1,250 0 0 14,517 9,795 0 4,722 14,517 0 0 Total Property Acquisitions $ 56,297 $ 38,606 $ 800 $ 16,891 $ 17,478 $ 38,403 $ 416 (1) Value of limited partnership units of the Operating Partnership at the acquisition date. (2) Consists of assumed debt (Homestead Garden I: $9.9 million, Silver Springs: $2.3 million) and value of land contributed by the joint venture partner (71 France: $4.7 million). (3) At acquisition the Company adjusted the assumed debt to fair value and recognized approximately $852,000 of goodwill. (4) At acquisition, the purchase price included assets in development (land: $804,000, building: $7.8 million, escrow $1.3 million). (5) Land was contributed to a joint venture in which the Company has an approximately 52.6% interest. The joint venture is consolidated in IRET’s financial statements. Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Total Form of Consideration Investment Allocation Acquisition Intangible Acquisitions Date Acquired Cost Cash Units(1) Other(2) Land Building Assets Multifamily 71 unit - Alps Park - Rapid City, SD 2013-05-01 $ 6,200 $ 2,920 $ 3,280 $ 0 $ 287 $ 5,551 $ 362 96 unit - Southpoint - Grand Forks, ND 2013-09-05 10,600 10,400 200 0 576 9,893 131 24 unit - Pinecone Villas - Sartell, MN 2013-10-31 2,800 2,800 0 0 584 2,191 25 19,600 16,120 3,480 0 1,447 17,635 518 Healthcare 98,174 sq ft Legends at Heritage Place - Sartell, MN 2013-10-31 11,863 11,863 0 0 970 10,511 382 39,500 sq ft Spring Creek Fruitland - Fruitland, ID 2014-02-05 7,050 7,050 0 0 550 6,500 0 18,913 18,913 0 0 1,520 17,011 382 Unimproved Land Chateau II - Minot, ND 2013-05-21 179 179 0 0 179 0 0 Jamestown Unimproved - Jamestown, ND 2013-08-09 700 700 0 0 700 0 0 Red 20 - Minneapolis, MN(3) 2013-08-20 1,900 0 0 1,900 1,900 0 0 Legends at Heritage Place - Sartell, MN 2013-10-31 537 537 0 0 537 0 0 Spring Creek Fruitland - Fruitland, ID 2014-01-21 335 335 0 0 335 0 0 Isanti Unimproved - Isanti, MN 2014-02-04 50 50 0 0 50 0 0 Rapid City Unimproved - Rapid City, SD 2014-03-25 1,366 1,366 0 0 1,366 0 0 5,067 3,167 0 1,900 5,067 0 0 Total Property Acquisitions $ 43,580 $ 38,200 $ 3,480 $ 1,900 $ 8,034 $ 34,646 $ 900 (1) Value of limited partnership units of the Operating Partnership at the acquisition date. (2) Consists of value of land contributed by the joint venture partner. (3) Land is owned by a joint venture in which the Company has an approximately 58.6% interest. The joint venture is consolidated in IRET’s financial statements.
Results of Operations from Acquired Properties	The revenue and net income of our fiscal year 2015 and 2014 acquisitions (excluding development projects placed in service) are detailed below. (in thousands) Year Ended April 30, 2015 2014 Total revenue $ 2,565 $ 1,897 Net loss $ (1 ) $ (82 )
Development Projects Placed in Service	The fiscal year 2015 and 2014 development projects placed in service are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Development Projects Placed in Service (1) Date Placed in Land Building Development Multifamily 44 unit - Dakota Commons - Williston, ND(2) 2014-07-15 $ 823 $ 9,596 $ 10,419 130 unit - Red 20 - Minneapolis, MN(3) 2014-11-21 1,900 26,412 28,312 233 unit - Commons at Southgate - Minot, ND(4) 2014-12-09 3,691 31,351 35,042 64 unit - Cypress Court II - St. Cloud, MN(5) 2015-01-01 447 6,320 6,767 165 unit - Arcata - Golden Valley, MN(6) 2015-01-01 2,088 29,640 31,728 8,949 103,319 112,268 Industrial 202,807 sq ft Roseville 3075 Long Lake Road - Roseville, MN 2014-11-10 0 9,036 9,036 Other 4,998 sq ft Minot Southgate Wells Fargo Bank - Minot, ND(7) 2014-11-10 992 2,193 3,185 Total Development Projects Placed in Service $ 9,941 $ 114,548 $ 124,489 (1) (2) (3) (4) (5) (6) (7) Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Development Projects Placed in Service (1) Date Placed in Land Building Development Multifamily 108 unit - Landing at Southgate - Minot, ND(2) 2013-09-04 $ 2,262 $ 12,864 $ 15,126 132 unit - Cypress Court - St. Cloud, MN(3) 2013-11-01 1,136 12,428 13,564 146 unit - River Ridge - Bismarck, ND(4) 2013-12-02 589 24,268 24,857 Total Development Projects Placed in Service $ 3,987 $ 49,560 $ 53,547 (1) (2) (3) (4)
Schedule of Dispositions	The fiscal year 2015 and 2014 dispositions are detailed below. Fiscal 2015 May 1, 2014 to April 30, 2015 (in thousands) Dispositions Date Sales Price Book Value Gain/(Loss) Multifamily 83 unit - Lancaster - St. Cloud, MN 2014-09-22 $ 4,451 $ 3,033 $ 1,418 Healthcare 45,222 sq ft Jamestown Medical Office Building - Jamestown, MN 2015-02-05 12,819 8,710 4,109 Industrial 198,600 sq ft Eagan 2785 & 2795 - Eagan, MN 2014-07-15 3,600 5,393 (1,793 ) Other 73,338 sq ft Dewey Hill - Edina, MN 2014-05-19 3,100 3,124 (24 ) 25,644 sq ft Weston Retail - Weston, WI 2014-07-28 n/a 1,176 (1,176 ) 74,568 sq ft Wirth Corporate Center - Golden Valley, MN 2014-08-29 4,525 4,695 (170 ) 52,000 sq ft Kalispell Retail - Kalispell, MT 2014-10-15 1,230 1,229 1 34,226 sq ft Fargo Express Center & SC Pad - Fargo, ND 2014-11-18 2,843 2,211 632 79,297 sq ft Northgate I — Maple Grove, MN 2014-12-01 7,200 6,881 319 14,820 sq ft Weston Walgreens — Weston, WI 2015-02-27 5,177 2,152 3,025 26,000 sq ft Northgate II - Maple Grove, MN 2015-03-02 2,725 1,727 998 45,019 sq ft Burnsville Bluffs II - Burnsville, MN 2015-03-25 1,245 2,245 (1,000 ) 26,186 sq ft Plymouth I - Plymouth, MN 2015-03-25 1,985 1,492 493 26,186 sq ft Plymouth II - Plymouth, MN 2015-03-25 1,625 1,356 269 26,186 sq ft Plymouth III - Plymouth, MN 2015-03-25 2,500 1,977 523 126,936 sq ft Plymouth IV & V - Plymouth, MN 2015-03-25 12,910 11,706 1,204 58,300 sq ft Southeast Tech Center - Eagan, MN 2015-03-25 3,300 4,196 (896 ) 61,138 sq ft Whitewater Plaza - Minnetonka, MN 2015-03-25 3,035 4,625 (1,590 ) 13,374 sq ft 2030 Cliff Road - Eagan, MN 2015-04-21 950 834 116 54,350 51,626 2,724 Unimproved Land Kalispell Unimproved - Kalispell, MT 2014-10-15 670 670 0 Weston — Weston, WI 2015-02-17 158 158 0 828 828 0 Total Property Dispositions $ 76,048 $ 69,590 $ 6,458 Fiscal 2014 May 1, 2013 to April 30, 2014 (in thousands) Dispositions Date Sales Price Book Value Gain/(Loss) Multifamily 84 unit - East Park - Sioux Falls, SD 2013-12-18 $ 2,214 $ 2,358 $ (144 ) 48 unit - Sycamore Village - Sioux Falls, SD 2013-12-18 1,296 1,380 (84 ) 3,510 3,738 (228 ) Industrial 41,880 sq ft Bodycote Industrial Building- Eden Prairie, MN 2013-05-13 3,150 1,375 1,775 42,244 sq ft Fargo 1320 45 th 2013-05-13 4,700 4,100 600 49,620 sq ft Metal Improvement Company - New Brighton, MN 2013-05-13 2,350 1,949 401 172,057 sq ft Roseville 2929 Long Lake Road - Roseville, MN 2013-05-13 9,275 9,998 (723 ) 322,751 sq ft Brooklyn Park 7401 Boone Ave - Brooklyn Park, MN 2013-09-12 12,800 12,181 619 50,400 sq ft Cedar Lake Business Center - St. Louis Park, MN 2013-09-12 2,550 2,607 (57 ) 35,000 sq ft API Building - Duluth, MN 2013-09-24 2,553 1,488 1,065 59,292 sq ft Lighthouse - Duluth, MN 2013-10-08 1,825 1,547 278 606,006 sq ft Dixon Avenue Industrial Park - Des Moines, IA 2013-10-31 14,675 10,328 4,347 41,685 sq ft Winsted Industrial Building - Winsted, MN 2014-01-17 725 747 (22 ) 69,984 sq ft Minnetonka 13600 County Road 62 - Minnetonka, MN 2014-01-30 3,800 3,084 716 42,510 sq ft Clive 2075NW 94 th 2014-01-30 2,735 2,675 60 61,138 52,079 9,059 Other 23,187 sq ft Eagan Community - Eagan, MN 2013-05-14 2,310 2,420 (110 ) 121,669 sq ft Bloomington Business Plaza - Bloomington, MN 2013-09-12 4,500 7,339 (2,839 ) 118,125 sq ft Nicollet VII - Burnsville, MN 2013-09-12 7,290 6,001 1,289 42,929 sq ft Pillsbury Business Center - Bloomington, MN 2013-09-12 1,160 1,164 (4 ) 10,625 sq ft Anoka Strip Center- Anoka, MN 2013-12-23 325 347 (22 ) 8,400 sq ft Burnsville 2 Strip Center - Burnsville, MN 2014-01-08 650 796 (146 ) 16,235 18,067 (1,832 ) Total Property Dispositions $ 80,883 $ 73,884 $ 6,999

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS (Tables)	12 Months Ended
	Apr. 30, 2015
OPERATING SEGMENTS [Abstract]
Revenues and Net Operating Income for Reportable Segments	The following tables present real estate revenues and net operating income for the fiscal years ended April 30, 2015, 2014 and 2013 from our three reportable segments, and reconcile net operating income of reportable segments to net income as reported in the consolidated financial statements. Segment assets are also reconciled to Total Assets as reported in the consolidated financial statements. (in thousands) Year Ended April 30, 2015 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 118,526 $ 65,828 $ 6,491 $ 10,150 $ 200,995 Real estate expenses 51,172 16,937 1,536 4,188 73,833 Net operating income $ 67,354 $ 48,891 $ 4,955 $ 5,962 127,162 TRS senior housing revenue, net of expenses 523 Depreciation/amortization (51,775 ) Administrative expenses (11,824 ) Other expenses (2,010 ) Impairment of real estate investments (4,663 ) Interest expense (40,071 ) Interest and other income 2,956 Income before gain on sale of real estate and other investments and income from discontinued operations 20,298 Gain on sale of real estate and other investments 6,093 Income from continuing operations 26,391 Income from discontinued operations 2,293 Net income $ 28,684 (in thousands) Year Ended April 30, 2014 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 102,059 $ 64,887 $ 6,894 $ 11,539 $ 185,379 Real estate expenses 46,138 16,899 2,043 4,725 69,805 Gain on involuntary conversion 2,480 0 0 0 2,480 Net operating income $ 58,401 $ 47,988 $ 4,851 $ 6,814 118,054 TRS senior housing revenue, net of expenses 296 Depreciation/amortization (50,069 ) Administrative expenses (10,743 ) Other expenses (2,129 ) Impairment of real estate investments (7,700 ) Interest expense (39,619 ) Interest and other income 2,148 Income before gain on sale of real estate and other investments and income from discontinued operations 10,238 Loss on sale of real estate and other investments (51 ) Income from continuing operations 10,187 Loss from discontinued operations (27,127 ) Net loss $ (16,940 ) (in thousands) Year Ended April 30, 2013 Multifamily Healthcare Industrial All Other Total Real estate revenue $ 89,923 $ 61,625 $ 6,700 $ 11,485 $ 169,733 Real estate expenses 38,223 16,529 1,871 5,547 62,170 Gain on involuntary conversion 3,852 0 0 1,232 5,084 Net operating income $ 55,552 $ 45,096 $ 4,829 $ 7,170 112,647 Depreciation/amortization (42,430 ) Administrative expenses (8,494 ) Other expenses (2,171 ) Interest expense (40,441 ) Interest and other income 732 Income before gain on sale of real estate and other investments and income from discontinued operations 19,843 Gain on sale of real estate and other investments 0 Income from continuing operations 19,843 Income from discontinued operations 10,129 Net income $ 29,972
Segment Assets and Accumulated Depreciation	Segment Assets and Accumulated Depreciation (in thousands) As of April 30, 2015 Multifamily Healthcare Industrial All Other Total Segment Assets Property owned $ 946,520 $ 495,021 $ 60,611 $ 44,215 $ 1,546,367 Less accumulated depreciation (180,414 ) (112,515 ) (11,256 ) (9,123 ) (313,308 ) Net property owned $ 766,106 $ 382,506 $ 49,355 $ 35,092 1,233,059 Assets held for sale 463,103 Cash and cash equivalents 48,970 Other investments 329 Receivables and other assets 72,555 Development in progress 153,994 Unimproved land 25,827 Total assets $ 1,997,837 (in thousands) As of April 30, 2014 Multifamily Healthcare Industrial All Other Total Segment Assets Property owned $ 753,731 $ 522,135 $ 55,375 $ 118,975 $ 1,450,216 Less accumulated depreciation (158,100 ) (105,376 ) (10,198 ) (28,731 ) 302,405 Net property owned $ 595,631 $ 416,759 $ 45,177 $ 90,244 1,147,811 Assets held for sale 457,307 Cash and cash equivalents 47,267 Other investments 329 Receivables and other assets 89,034 Development in progress 104,609 Unimproved land 22,864 Total assets $ 1,869,221

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Apr. 30, 2015
DISCONTINUED OPERATIONS [Abstract]
Effect on Net Income and Gains or Losses From Sale Of Properties Classified as Discontinued Operations	The following information shows the effect on net income and the gains or losses from the sale of properties classified as discontinued operations for the fiscal years ended April 30, 2015, 2014 and 2013. (in thousands) 2015 2014 2013 REVENUE Real estate rentals $ 54,591 $ 57,629 $ 63,704 Tenant reimbursement 24,084 26,949 27,788 TOTAL REVENUE 78,675 84,578 91,492 EXPENSES Depreciation/amortization related to real estate investments 16,226 19,359 20,873 Utilities 7,493 8,423 7,876 Maintenance 10,861 12,022 12,307 Real estate taxes 13,906 14,898 16,235 Insurance 1,079 1,172 1,151 Property management expenses 3,795 3,657 3,810 Other property expenses 30 243 16 Other expenses 0 3 2 Amortization related to non-real estate investments 2,606 2,500 2,446 Impairment of real estate investments 1,442 36,726 305 TOTAL EXPENSES 57,438 99,003 65,021 Operating income (loss) 21,237 (14,425 ) 26,471 Interest expense (18,949 ) (19,944 ) (23,425 ) Interest income 0 2 2 Other income 5 241 16 Income (loss) income from discontinued operations before gain on sale 2,293 (34,126 ) 3,244 Gain on sale of discontinued operations 0 6,999 6,885 INCOME FROM DISCONTINUED OPERATIONS 2,293 $ (27,127 ) $ 10,129 Segment Data Multifamily 0 $ (99 ) $ 3,712 Healthcare (55 ) (68 ) 3,307 Industrial 0 8,923 2,118 Other 2,348 (35,883 ) 992 Total 2,293 $ (27,127 ) $ 10,129 (in thousands) 2014 2013 Property Sale Data Sales price $ 80,883 $ 26,273 Net book value and sales costs (73,884 ) (19,388 ) Gain on sale of discontinued operations $ 6,999 $ 6,885
Reconciliation of Assets and Liabilities of Discontinued Operations to Assets and Liabilities Held for Sale That Are Presented Separately on the Condensed Consolidated Balance Sheet	The following information reconciles the carrying amounts of major classes of assets and liabilities of the discontinued operations to assets and liabilities held for sale that are presented separately on the Consolidated Balance Sheets: (in thousands) April 30, 2015 April 30, 2014 Carrying amounts of major classes of assets included as part of discontinued operations Property owned and intangible assets, net of accumulated depreciation and amortization $ 417,045 $ 425,676 Receivable arising from straight-lining of rents 10,078 11,087 Accounts receivable 566 1,752 Prepaid and other assets 699 691 Tax, insurance and other escrow 1,176 4,655 Property and equipment 0 7 Goodwill 193 0 Deferred charges and leasing costs 9,606 10,488 Total major classes of assets of the discontinued operations 439,363 454,356 Other assets included in the disposal group classified as held for sale 23,740 2,951 Total assets of the disposal group classified as held for sale on the balance sheet $ 463,103 $ 457,307 Carrying amounts of major classes of liabilities included as part of discontinued operations Accounts payable and accrued expenses $ 13,952 $ 13,988 Mortgages payable 295,677 318,734 Other 4 9 Total major classes of liabilities of the discontinued operations 309,633 332,731 Other liabilities included in the disposal group classified as held for sale 11,760 0 Total liabilities of the disposal group classified as held for sale on the balance sheet $ 321,393 $ 332,731

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Apr. 30, 2015
EARNINGS PER SHARE [Abstract]
Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share	The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2015, 2014 and 2013: For Years Ended April 30, (in thousands, except per share data) 2015 2014 2013 NUMERATOR Income (loss) from continuing operations — Investors Real Estate Trust $ 22,076 $ 9,633 $ 17,247 Income (loss) from discontinued operations — Investors Real Estate Trust 2,011 (22,807 ) 8,283 Net income (loss) attributable to Investors Real Estate Trust 24,087 (13,174 ) 25,530 Dividends to preferred shareholders (11,514 ) (11,514 ) (9,229 ) Numerator for basic earnings per share — net income (loss) available to common shareholders 12,573 (24,688 ) 16,301 Noncontrolling interests — Operating Partnership 1,526 (4,676 ) 3,633 Numerator for diluted earnings per share $ 14,099 $ (29,364 ) $ 19,934 DENOMINATOR Denominator for basic earnings per share weighted average shares 118,004 105,331 93,344 Effect of convertible operating partnership units 16,594 21,697 21,191 Denominator for diluted earnings per share 134,598 127,028 114,535 Earnings (loss) per common share from continuing operations — Investors Real Estate Trust — basic and diluted $ .09 $ (.01 ) $ .08 Earnings (loss) per common share from discontinued operations — Investors Real Estate Trust — basic and diluted .02 (.22 ) .09 NET INCOME (LOSS) PER COMMON SHARE — BASIC & DILUTED $ .11 $ (.23 ) $ .17

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Apr. 30, 2015
COMMITMENTS AND CONTINGENCIES [Abstract]
Schedule of Expected Timing of Ground and Air Rights Lease Payments	The expected timing of ground and air rights lease payments as of April 30, 2015 is as follows: (in thousands) Fiscal Year Ended April 30, Lease Payments 2016 $ 478 2017 449 2018 449 2019 449 2020 449 Thereafter 20,764 Total $ 23,038
Schedule of Property Cost and Gross Rental Revenue	The Company has various contracts outstanding with third parties in connection with development, expansion and renovation projects that are underway or placed in service during the quarter, the costs for which have been capitalized. As of April 30, 2015, contractual commitments for these projects are as follows: (in thousands) (in fiscal years) Project Name and Location Planned Rentable Anticipated Costs as of Anticipated Roseville 3075 Long Lake Rd - Roseville, MN Other 202,807 sq ft 13,915 9,036 In Service Chateau II - Minot, ND Multifamily 72 units 14,711 13,129 1Q 2016 Edina 6565 France SMC III - Edina, MN Healthcare 57,479 sq ft 36,752 22,549 1Q 2016 Minot Southgate Retail - Minot, ND Other 7,963 sq ft 2,923 2,164 1Q 2016 Renaissance Heights - Williston, ND(2) Multifamily 288 units 62,362 59,087 1Q 2016 Deer Ridge — Jamestown, ND Multifamily 163 units 24,519 15,355 2Q 2016 PrairieCare Medical - Brooklyn Park, MN Healthcare 72,895 sq ft 24,251 19,457 2Q 2016 Cardinal Point - Grand Forks, ND Multifamily 251 units 40,042 26,450 3Q 2016 71 France Phase I, II, III - Edina, MN(3) Multifamily 241 units 73,290 35,137 1Q 2017 Other n/a n/a n/a 6,618 n/a $ 292,765 $ 208,982 (1) (2) (3)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Apr. 30, 2015
FAIR VALUE MEASUREMENTS [Abstract]
Fair Value Measurements on a Nonrecurring Basis	The aggregate fair value of these assets by their levels in the fair value hierarchy are as follows: (in thousands) Total Level 1 Level 2 Level 3 April 30, 2015 Real estate held for sale $ 7,100 $ 0 $ 0 $ 7,100 April 30, 2014 Real estate investments 89,537 0 0 89,537 Real estate held for sale 2,951 0 0 2,951
Estimated Fair Values of Financial Instruments	The estimated fair values of the Company’s financial instruments as of April 30, 2015 and 2014 are as follows: (in thousands) 2015 2014 Carrying Fair Value Carrying Fair Value FINANCIAL ASSETS Cash and cash equivalents $ 48,970 $ 48,970 $ 47,267 $ 47,267 Other investments 329 329 329 329 FINANCIAL LIABILITIES Other debt 144,090 143,749 63,132 63,250 Lines of credit 60,500 60,500 22,500 22,500 Mortgages payable 668,112 749,604 678,955 751,117

QUARTERLY RESULTS OF CONSOLID43

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Tables)	12 Months Ended
	Apr. 30, 2015
QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) [Abstract]
Schedule of Quarterly Results of Consolidation Operations	(in thousands, except per share data) QUARTER ENDED July 31, 2014 October 31, 2014 January 31, 2015 April 30, 2015 Revenues $ 49,214 $ 51,189 $ 52,939 $ 51,173 Net (loss) income attributable to Investors Real Estate Trust $ (151 ) $ 5,114 $ 8,371 $ 10,753 Net (loss) income available to common shareholders $ (3,030 ) $ 2,236 $ 5,492 $ 7,875 Net (loss) income per common share - basic & diluted $ (.03 ) $ .02 $ .05 $ .07 (in thousands, except per share data) QUARTER ENDED July 31, 2013 October 31, 2013 January 31, 2014 April 30, 2014 Revenues $ 45,287 $ 45,896 $ 48,383 $ 47,440 Net income (loss) attributable to Investors Real Estate Trust $ 3,078 $ 8,787 $ 3,503 $ (28,542 ) Net income (loss) available to common shareholders $ 199 $ 5,909 $ 624 $ (31,420 ) Net income (loss) per common share - basic & diluted $ .00 $ .06 $ .00 $ (.29 )

REDEEMABLE NONCONTROLLING INT44

REDEEMABLE NONCONTROLLING INTERESTS (Tables)	12 Months Ended
	Apr. 30, 2015
REDEEMABLE NONCONTROLLING INTERESTS [Abstract]
Redeemable Noncontrolling Interest	Below is a table reflecting the activity of the redeemable noncontrolling interests. (in thousands) 2015 2014 2013 Balance at beginning of fiscal year $ 6,203 $ 5,937 $ 0 Contributions 0 0 5,932 Net income 165 266 5 Balance at close of fiscal year $ 6,368 $ 6,203 $ 5,937

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	12 Months Ended
	Apr. 30, 2015
SHARE BASED COMPENSATION
Compensation Expense Recognized	Total share-based compensation expense recognized in the consolidated financial statements for the three years ended April 30, 2015 for all share-based awards was as follows (in thousands): Year Ended April 30, 2015 2014 2013 Share based compensation expense $ 2,215 $ 1,162 $ 45
Schedule of Restricted Share Awards Activity	The activity for the two years ended April 30, 2015 related to the Company’s restricted share awards was as follows. There was no activity related to restricted shares in fiscal year 2013. Shares Wtd Avg Grant- Unvested at April 30, 2013 0 $ n/a Granted 104,855 8.72 Unvested at April 30, 2014 104,855 8.72 Granted 107,536 7.17 Vested during year (79,181 ) 8.72 Forfeited (25,674 ) 8.72 Unvested at April 30, 2015 107,536 7.17

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	12 Months Ended
	Apr. 30, 2015
SUBSEQUENT EVENTS [Abstract]
Common and Preferred Share Distributions	On June 2, 2015, the Company’s Board of Trustees declared the following distributions: Class of shares/units Quarterly Amount Record Date Payment Date Common shares and limited partnership units $ 0.1300 June 15, 2015 July 1, 2015 Preferred shares: Series A $ 0.5156 June 15, 2015 June 30, 2015 Series B $ 0.4968 June 15, 2015 June 30, 2015

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands, ft² in Millions		Apr. 30, 2016USD ($)ft²Property	Jun. 25, 2015Unit	Jun. 12, 2015Unit	Apr. 30, 2015USD ($)ft²PropertyUnit	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)
ORGANIZATION [Abstract]
Percentage of ordinary taxable income that must be distributed to shareholders (in hundredths)					90.00%
Real Estate Properties [Line Items]
Total real estate investments | $	[1]				$ 1,412,880	$ 1,275,284	$ 1,214,235
Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of apartment units owned | Unit			17	34
Multi-family Residential Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties					100
Number of apartment units owned | Unit					11,844
Commercial Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties					149
Net rentable area (in square feet) | ft²					9.6
Commercial Properties [Member] | Discontinued Operations, Held-for-sale [Member] | Subsequent Event [Member]
Real Estate Properties [Line Items]
Number of real estate properties		66
Net rentable area (in square feet) | ft²		5
Total real estate investments | $		$ 416,000
[1]	The net basis of the Company's real estate investments for Federal Income Tax purposes was $1.7 billion, $1.5 billion and $1.5 billion at April 30, 2015, 2014 and 2013, respectively.

BASIS OF PRESENTATION AND SIG48

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended	12 Months Ended
	Jul. 31, 2013USD ($)	Apr. 30, 2016USD ($)$ / sharesPropertySegment	Apr. 30, 2015USD ($)PropertyUnitRedemptionPartnersSegmentshares	Apr. 30, 2014USD ($)PropertyState	Apr. 30, 2013USD ($)PropertyUnit
BASIS OF PRESENTATION [Abstract]
Interest in operating partnership (in hundredths)			89.90%	83.80%
Percentage of general interest partnership (in hundredths)			100.00%
Redemption basis			1:1
Redemptions by limited partner, maximum | Redemption			2
Number of units to redeem, minimum (in units) | shares			1,000
Period to hold the beneficial interest, minimum			1 year
RECLASSIFICATIONS
Number of reportable segments | Segment			5
REAL ESTATE INVESTMENTS [Abstract]
Number of year after date of acquisition related to adjustment of real estate preliminary allocations of purchase price			1 year
Impairment of retail property			$ 6,105,000	$ 44,426,000	$ 305,000
Impairment of real estate investments			$ 4,663,000	$ 7,700,000
Number of impaired properties | Property			6	15	1
Liabilities held for sale			$ 138,800,000
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL [Abstract]
New intangible assets			416,000	$ 900,000
Addition to intangible liabilities			$ 0	$ 0
Weighted average lives of intangible assets acquired			6 months	8 months 12 days
Goodwill book value			$ 1,718,000	$ 1,100,000
Recognized impairment goodwill			0	0
Goodwill recognized			852,000
Goodwill derecognized			40,000	7,000	$ 14,000
PROPERTY AND EQUIPMENT [Abstract]
Property and equipment cost			3,000,000	3,700,000
Accumulated depreciation			1,464,000	2,041,000
Compensating Balances [Line Items]
Compensating balance			14,300,000
Certificates of deposit			329,000
Decrease in lender holdbacks			10,738,000	3,780,000	1,891,000
Increase in lender holdbacks for improvements			1,204,000	11,045,000	2,466,000
Allowance for Doubtful Accounts Receivable [Roll Forward]
Provision			$ 967,000	$ 434,000	$ 665,000
INCOME TAXES [Abstract]
Minimum dividend distribution percentage (in hundredths)			90.00%
Dividend distribution percentage (in hundredths)			90.00%	90.00%	90.00%
Distribution of federal income tax (in hundredths)				25.74%	28.41%
Distribution of capital gain (in hundredths)				23.09%	3.09%
Distribution made as return of capital (in hundredths)				51.17%	68.50%
Other Liabilities [Line Items]
Proceeds from sale of property	$ 7,900,000
Contract for deed	29,000,000
Sale lease-back recorded in other liabilities	7,900,000
Unusual or Infrequent Item [Line Items]
Number of 32-unit buildings | Unit					2
Number of units in building | Unit					32
Number of buildings destroyed | Property					1
Total gain on involuntary conversion			$ 0	$ 2,480,000	$ 5,084,000
Insurance proceeds received for reimbursement for business interruption (loss of rents)					409,000
Number of 15-unit buildings | Unit			1
Number of 57-unit buildings | Unit			1
Insurance proceeds received for flood clean up costs and redevelopment			$ 6,000,000
Subsequent Event [Member]
RECLASSIFICATIONS
Number of reportable segments | Segment		3
Discontinued Operations, Held-for-sale [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of real estate investments				36,700,000
Buildings and Improvements [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			20 years
Buildings and Improvements [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			40 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			5 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			12 years
Renovations and Improvements [Member] | Minimum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			5 years
Renovations and Improvements [Member] | Maximum [Member]
REAL ESTATE INVESTMENTS [Abstract]
Estimated useful life of assets (in years)			10 years
Kalispell, Montana, Retail Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 2,100,000
Number of impaired properties | Property			1
Golden Valley, Minnesota, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 183,000	$ 2,100,000
Number of impaired properties | Property			1	1
Minneapolis, Minnesota, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 1,800,000
Number of impaired properties | Property			1
Boise, Idaho, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 1,400,000
Number of impaired properties | Property			1
Eagan, Minnesota, Unimproved Land [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 98,000		$ 305,000
Number of impaired properties | Property			1		1
Weston, Wisconsin, Unimproved Land [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property			$ 442,000
Number of impaired properties | Property			1
St. Louis Park, Minnesota, Industrial Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 864,000
Number of impaired properties | Property				1
Bloomington, Minnesota, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 329,000
Number of impaired properties | Property				1
Anoka, Minnesota, Retail Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 265,000
Number of impaired properties | Property				1
Clive, Iowa, Industrial Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 402,000
Number of impaired properties | Property				1
Roseville, Minnesota, Industrial Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 4,800,000
Number of impaired properties | Property				1
Edina, Minnesota, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 835,000
Number of impaired properties | Property				1
Various states, Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of retail property				$ 34,900,000
Number of impaired properties | Property				8
Number of states in which impaired properties are located | State				4
Number of properties in portfolio | Property				9
Various states, Office Property [Member] | Loans Payable [Member] | CMBS Loan [Member]
REAL ESTATE INVESTMENTS [Abstract]
Non-recourse loan			$ 122,600,000
Residential Property [Member]
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL [Abstract]
Number of real estate properties disposed | Property			1
Commercial Property [Member]
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES AND GOODWILL [Abstract]
Number of real estate properties disposed | Property			2
Commercial Healthcare [Member] | Discontinued Operations, Held-for-sale [Member] | Subsequent Event [Member]
RECLASSIFICATIONS
Number of properties | Property		1
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as held for sale | $ / shares		1
Retail Property [Member] | Discontinued Operations, Held-for-sale [Member] | Subsequent Event [Member]
RECLASSIFICATIONS
Number of properties | Property		17
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as held for sale | $ / shares		17
Office Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as held for sale | Property			1	1
Office Property [Member] | Discontinued Operations, Held-for-sale [Member] | Subsequent Event [Member]
RECLASSIFICATIONS
Number of properties | Property		48
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as held for sale | $ / shares		48
Medical Property [Member]
REAL ESTATE INVESTMENTS [Abstract]
Number of real estate properties classified as held for sale | Property			1
Assets held for sale			$ 22,900,000
Medical Property [Member] | Various states, Office Property [Member] | Loans Payable [Member] | CMBS Loan [Member]
REAL ESTATE INVESTMENTS [Abstract]
Maturity date				Oct. 6, 2016
Allowance for Doubtful Accounts [Member]
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of year	$ 1,393,000	$ 1,156,000	1,044,000	$ 1,393,000	$ 1,363,000
Provision			967,000	434,000	665,000
Write-off			(855,000)	(783,000)	(635,000)
Balance at close of year			1,156,000	1,044,000	1,393,000
Flood [Member]
Unusual or Infrequent Item [Line Items]
Proceeds from final settlement			8,500,000
Total gain on involuntary conversion				0	2,821,000
2012 Fire [Member]
Unusual or Infrequent Item [Line Items]
Proceeds from final settlement			5,100,000
Total gain on involuntary conversion				2,480,000	$ 2,263,000
2013 Fire [Member]
Unusual or Infrequent Item [Line Items]
Insurance proceeds received for flood clean up costs and redevelopment				1,000,000
2013 Fire [Member] | Building One [Member]
Unusual or Infrequent Item [Line Items]
Number of units in building | Unit					15
2013 Fire [Member] | Building Two [Member]
Unusual or Infrequent Item [Line Items]
Number of units in building | Unit					57
IRET - Minot Apartments, LLC [Member]
Variable Interest Entity [Line Items]
Total estimated cost for joint venture			$ 52,200,000
Percentage of ownership in VIE (in hundredths)			52.90%
IRET - Minot Apartments, LLC [Member] | Third Party Debt [Member]
Variable Interest Entity [Line Items]
Percentage of project financed (in hundredths)			69.00%
IRET - Minot Apartments, LLC [Member] | Debt from IRET [Member]
Variable Interest Entity [Line Items]
Percentage of project financed (in hundredths)			7.00%
IRET - Minot Apartments, LLC [Member] | Real Estate Development Company [Member]
Variable Interest Entity [Line Items]
Percentage of ownership in VIE (in hundredths)			47.10%
IRET - 71 France, LLC [Member]
Variable Interest Entity [Line Items]
Total estimated cost for joint venture			$ 73,300,000
Number of other partners in joint venture | Partners			2
Percentage of ownership in VIE (in hundredths)			52.60%
Threshold in-service period of project			24 months
IRET - 71 France, LLC [Member] | Third Party Debt [Member]
Variable Interest Entity [Line Items]
Percentage of project financed (in hundredths)			69.00%
IRET - 71 France, LLC [Member] | Debt from IRET [Member]
Variable Interest Entity [Line Items]
Percentage of project financed (in hundredths)			7.00%
IRET - 71 France, LLC [Member] | Real Estate Development Company [Member]
Variable Interest Entity [Line Items]
Percentage of ownership in VIE (in hundredths)			47.40%
Discontinued Operations [Member]
REAL ESTATE INVESTMENTS [Abstract]
Impairment of real estate investments			$ 1,442,000	$ 36,726,000	$ 305,000
Dacotah Bank, Minot, North Dakota [Member]
Compensating Balances [Line Items]
Compensating balance			$ 350,000
Remaining terms of certificates of deposit			2 years
United Community Bank, Minot, North Dakota [Member]
Compensating Balances [Line Items]
Compensating balance			$ 275,000
Remaining terms of certificates of deposit			6 months
First International Bank, Watford City, North Dakota [Member]
Compensating Balances [Line Items]
Compensating balance			$ 6,100,000
First International Bank, Watford City, North Dakota [Member] | Discontinued Operations, Held-for-sale [Member]
Compensating Balances [Line Items]
Compensating balance			1,400,000
Peoples State Bank of Velva, North Dakota [Member]
Compensating Balances [Line Items]
Compensating balance			225,000
Associated Bank, Green Bay, Wisconsin [Member]
Compensating Balances [Line Items]
Compensating balance			3,600,000
American National Bank, Omaha, Nebraska [Member]
Compensating Balances [Line Items]
Compensating balance			400,000
Private Bank [Member]
Compensating Balances [Line Items]
Compensating balance			2,000,000
Commerce Bank [Member]
Compensating Balances [Line Items]
Compensating balance			100,000
Bremer Bank [Member]
Compensating Balances [Line Items]
Compensating balance			1,300,000
Financing Liability [Member]
Other Liabilities [Line Items]
Financing liability balance			$ 7,900,000

CREDIT RISK (Details)

CREDIT RISK (Details) - USD ($) $ in Millions	Apr. 30, 2015	Apr. 30, 2014
CREDIT RISK [Abstract]
Amounts deposit not insured by FDIC	$ 9.7	$ 14.4

PROPERTY OWNED (Details)

PROPERTY OWNED (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
PROPERTY OWNED [Abstract]
Property owned net	$ 1,233,059,000	$ 1,147,811,000
Capitalized interest during construction	4,900,000	$ 2,900,000	$ 742,000
Future minimum lease receipts to be received under non-cancellable leases [Abstract]
2,016	112,320,000
2,017	99,963,000
2,018	84,455,000
2,019	70,049,000
2,020	52,576,000
Thereafter	130,313,000
Total	$ 549,676,000

IDENTIFIED INTANGIBLE ASSETS 51

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Identified intangible assets (included in intangible assets) [Roll Forward]
Gross carrying amount	$ 45,823,000	$ 48,181,000
Accumulated amortization	(19,610,000)	(17,286,000)
Net carrying amount	26,213,000	30,895,000
Identified intangible liabilities (included in other liabilities) [Abstract]
Gross carrying amount	82,000	127,000
Accumulated amortization	(61,000)	(90,000)
Net carrying amount	21,000	37,000
Other Identified Intangible Assets [Member]
Identified intangible liabilities (included in other liabilities) [Abstract]
Amortization of intangible assets	5,000,000	7,400,000	$ 4,200,000
Estimated annual amortization [Abstract]
2,016	4,000,000
2,017	3,698,000
2,018	3,469,000
2,019	3,433,000
2,020	3,390,000
Leases, Acquired-in-Place, Market Adjustment [Member]
Identified intangible liabilities (included in other liabilities) [Abstract]
Amortization of intangible assets	24,000	$ 25,000	$ 29,000
Estimated annual amortization [Abstract]
2,016	22,000
2,017	11,000
2,018	(3,000)
2,019	(3,000)
2,020	$ (1,000)

NONCONTROLLING INTERESTS (Detai

NONCONTROLLING INTERESTS (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	$ 30,519	$ 22,638
IRET - 71 France, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	8,630	0
IRET-Cypress Court Apartments, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	1,089	1,127
IRET-RED 20, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	3,072	3,277
IRET-Williston Garden Apartments, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	3,090	2,804
IRET-Jamestown Medical Building, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	0	1,219
IRET-WRH 1, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	6,138	5,672
Mendota Properties LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	7,294	7,333
WRH Holding, LLC [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests - consolidated real estate entities	$ 1,206	$ 1,206

LINE OF CREDIT (Details)

LINE OF CREDIT (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2015USD ($)PropertyLineofCredit	Apr. 30, 2014USD ($)
Credit Facility [Abstract]
Amount available	$ 90,000
First International Bank & Trust [Member]
Credit Facility [Abstract]
Amount available	90,000
Amount outstanding	$ 60,500	$ 22,500
Interest rate (in hundredths)	4.75%
Maturity date	Sep. 1, 2017
Weighted average interest rate (in hundredths)	4.75%
Line of Credit [Member]
Line of Credit Facility [Line Items]
Line of credit, minimum outstanding principal balance	$ 17,500
Debt instrument, description of variable rate basis	Journal Prime Rate
Debt instrument, basis spread on variable rate (in hundredths)	1.25%
Debt instrument, covenant description	The line of credit may be prepaid at par at any time. The facility includes covenants and restrictions requiring the Company to achieve on a calendar quarter basis a debt service coverage ratio on borrowing base collateral of 1.25x in the aggregate and 1.00x on individual assets in the collateral pool
Number of properties securing line of credit | Property	15
Line of credit facility, collateral cost	$ 136,100
Line of Credit [Member] | First International Bank & Trust [Member]
Line of Credit Facility [Line Items]
Number of securing line of credit | LineofCredit	1
Minimum deposit	$ 6,000
Non-interest bearing account	$ 1,500
Line of Credit [Member] | Interest Rate Cap [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate (in hundredths)	8.65%
Line of Credit [Member] | Interest Rate Floor [Member]
Line of Credit Facility [Line Items]
Debt instrument, interest rate (in hundredths)	4.75%

MORTGAGES PAYABLE AND CONSTRU54

MORTGAGES PAYABLE AND CONSTRUCTION DEBT (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2015USD ($)Loan	Apr. 30, 2014USD ($)
Aggregate amount of required future principal payments on mortgages payable [Abstract]
Total payments	$ 668,112	$ 678,955
Mortgages Payable [Member]
Debt Instrument [Line Items]
Number of loans in default | Loan	1
Non-recourse loan	$ 122,600
Maturity date	Oct. 6, 2016
Interest rate on mortgages payable (in hundredths)	5.93%
Interest rates on mortgages payable range, minimum (in hundredths)	2.68%
Interest rates on mortgages payable range, maximum (in hundredths)	8.25%
Mortgages maturity date range, start	Jun. 1, 2015
Mortgages maturity date range, end	Jul. 1, 2036
Fixed rate mortgages	$ 629,800	666,000
Variable rate mortgages	$ 38,300	$ 13,000
Weighted average interest rate (in hundredths)	4.95%	5.16%
Aggregate amount of required future principal payments on mortgages payable [Abstract]
2,016	$ 95,870
2,017	41,549
2,018	51,984
2,019	90,716
2,020	72,060
Thereafter	315,933
Total payments	668,112
Mortgages Payable [Member] | Discontinued Operations, Held-for-sale [Member]
Aggregate amount of required future principal payments on mortgages payable [Abstract]
Total payments	$ 11,500
Construction Debt [Member]
Debt Instrument [Line Items]
Weighted average interest rate (in hundredths)	3.38%	3.08%
Construction debt	$ 136,200	$ 63,100
Amount available to be drawn under construction loans	$ 102,700

MORTGAGES PAYABLE AND CONSTRU55

MORTGAGES PAYABLE AND CONSTRUCTION DEBT, LINE OF CREDIT (Details) - Secured Debt [Member]	Apr. 30, 2015Property
Line of Credit Facility [Line Items]
Number of properties securing line of credit	15
Number of properties not encumbered	48

TRANSACTIONS WITH RELATED PAR56

TRANSACTIONS WITH RELATED PARTIES (Details)	12 Months Ended
	Apr. 30, 2015USD ($)Loan	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)ft²
BANKING SERVICES [Abstract]
Maximum borrowing capacity	$ 90,000,000
Compensating balance	14,300,000
Interest and fees paid amount		$ 1,000,000	$ 975,000
Construction Loan Payable [Member]
BANKING SERVICES [Abstract]
Loans Closed or Committed	136,200,000	63,100,000
Multi bank Line of Credit [Member]
BANKING SERVICES [Abstract]
Maximum borrowing capacity	$ 90,000,000
Mortgage Loans on Real Estate [Member]
BANKING SERVICES [Abstract]
Interest rate (in hundredths)	5.93%
First International Bank & Trust [Member]
BANKING SERVICES [Abstract]
Bank service and other fees charged	$ 500	500	500
Interest and fees paid amount	$ 2,000,000	1,200,000	$ 1,200,000
LEASE TRANSACTION [Abstract]
Area of building constructed (in square feet) | ft²			3,700
Lease term	20 years
Total cost to construct building			$ 1,300,000
Estimated rental payments	$ 2,400,000
Net rental payments received per year	109,000	109,000	11,000
First International Bank & Trust [Member] | Multi bank Line of Credit [Member]
BANKING SERVICES [Abstract]
Maximum borrowing capacity	11,000,000
Interest paid	245,000	125,000	196,000
Bank services charges and fee	40,000	$ 40,000	$ 40,000
Compensating balance	6,000,000
Non interest bearing account	1,500,000
Interest bearing account	$ 4,500,000
Percentage interest on deposited amount (in hundredths)	0.20%
Williston Garden [Member] | First International Bank & Trust [Member] | Mortgage Loans on Real Estate [Member]
BANKING SERVICES [Abstract]
Number of mortgage loans outstanding | Loan	1
Original principal balance	$ 13,700,000
Interest rate (in hundredths)	5.50%
Interest paid	$ 325,000
Robert W Baird and Co Incorporated [Member]
Sales Agreement [Abstract]
Aggregate offering price	$ 75,000,000
Compensation of gross sales price (in hundredths)	2.00%
Renaissance Heights I - Williston ND [Member] | First International Bank & Trust [Member] | Construction Loan Payable [Member]
BANKING SERVICES [Abstract]
Interest rate (in hundredths)	5.00%
Loans Closed or Committed	$ 43,700,000
Balance drawn on construction loan	37,700,000
Interest paid	$ 1,400,000

ACQUISITIONS, DEVELOPMENT PRO57

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS, ACQUISITIONS (Details)		12 Months Ended
		Apr. 30, 2015USD ($)Unit		Apr. 30, 2014USD ($)ft²Unit
Business Acquisition [Line Items]
Transaction costs expensed during the period		$ 216,000		$ 176,000
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs		56,297,000		43,580,000
Form of consideration, cash		38,606,000		38,200,000
Form of consideration, units	[1]	800,000		3,480,000
Form of consideration, other		16,891,000	[2]	1,900,000	[3]
Investment allocation, land		17,478,000		8,034,000
Investment allocation, building		38,403,000		34,646,000
Investment allocation, intangible assets		416,000		900,000
Goodwill, acquired during period		852,000
Results of operations from acquired properties [Abstract]
Total revenue		2,565,000		1,897,000
Net income		(1,000)		(82,000)
Multi-Family Residential [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs		41,780,000		19,600,000
Form of consideration, cash		28,811,000		16,120,000
Form of consideration, units	[1]	800,000		3,480,000
Form of consideration, other		12,169,000	[2]	0	[3]
Investment allocation, land		2,961,000		1,447,000
Investment allocation, building		38,403,000		17,635,000
Investment allocation, intangible assets		$ 416,000		$ 518,000
Multi-Family Residential [Member] | Homestead Garden - Rapid City, SD [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired	[4]	Jun. 2, 2014
Total acquisition costs	[4]	$ 15,000,000
Form of consideration, cash	[4]	5,092,000
Form of consideration, units	[1],[4]	0
Form of consideration, other	[2],[4]	9,908,000
Investment allocation, land	[4]	655,000
Investment allocation, building	[4]	14,139,000
Investment allocation, intangible assets	[4]	$ 206,000
Number of apartment units | Unit	[4]	152
Goodwill, acquired during period		$ 852,000
Assumed debt		$ 9,908,000
Multi-Family Residential [Member] | Silver Springs - Rapid City, SD [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		Jun. 2, 2014
Total acquisition costs		$ 3,280,000
Form of consideration, cash		1,019,000
Form of consideration, units	[1]	0
Form of consideration, other	[2]	2,261,000
Investment allocation, land		215,000
Investment allocation, building		3,006,000
Investment allocation, intangible assets		$ 59,000
Number of apartment units | Unit		52
Assumed debt		$ 2,261,000
Multi-Family Residential [Member] | Northridge - Bismarck, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		Sep. 12, 2014
Total acquisition costs		$ 8,500,000
Form of consideration, cash		8,400,000
Form of consideration, units	[1]	100,000
Form of consideration, other	[2]	0
Investment allocation, land		884,000
Investment allocation, building		7,516,000
Investment allocation, intangible assets		$ 100,000
Number of apartment units | Unit		68
Multi-Family Residential [Member] | Legacy Heights - Bismarck, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired	[5]	Mar. 19, 2015
Total acquisition costs	[5]	$ 15,000,000
Form of consideration, cash	[5]	14,300,000
Form of consideration, units	[1],[5]	700,000
Form of consideration, other	[2],[5]	0
Investment allocation, land	[5]	1,207,000
Investment allocation, building	[5]	13,742,000
Investment allocation, intangible assets	[5]	$ 51,000
Number of apartment units | Unit	[5]	119
Multi-Family Residential [Member] | Alps Park - Rapid City, SD [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				May 1, 2013
Total acquisition costs				$ 6,200,000
Form of consideration, cash				2,920,000
Form of consideration, units	[1]			3,280,000
Form of consideration, other	[3]			0
Investment allocation, land				287,000
Investment allocation, building				5,551,000
Investment allocation, intangible assets				$ 362,000
Number of apartment units | Unit				71
Multi-Family Residential [Member] | Southpoint - Grand Forks, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Sep. 5, 2013
Total acquisition costs				$ 10,600,000
Form of consideration, cash				10,400,000
Form of consideration, units	[1]			200,000
Form of consideration, other	[3]			0
Investment allocation, land				576,000
Investment allocation, building				9,893,000
Investment allocation, intangible assets				$ 131,000
Number of apartment units | Unit				96
Multi-Family Residential [Member] | Pinecone Villas - Sartell, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Oct. 31, 2013
Total acquisition costs				$ 2,800,000
Form of consideration, cash				2,800,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				584,000
Investment allocation, building				2,191,000
Investment allocation, intangible assets				$ 25,000
Number of apartment units | Unit				24
Healthcare [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs				$ 18,913,000
Form of consideration, cash				18,913,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				1,520,000
Investment allocation, building				17,011,000
Investment allocation, intangible assets				$ 382,000
Healthcare [Member] | Legends at Heritage Place - Sartell, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Oct. 31, 2013
Total acquisition costs				$ 11,863,000
Form of consideration, cash				11,863,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				970,000
Investment allocation, building				10,511,000
Investment allocation, intangible assets				$ 382,000
Area of real estate property | ft²				98,174
Healthcare [Member] | Spring Creek Fruitland - Fruitland, IA [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Feb. 5, 2014
Total acquisition costs				$ 7,050,000
Form of consideration, cash				7,050,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				550,000
Investment allocation, building				6,500,000
Investment allocation, intangible assets				$ 0
Area of real estate property | ft²				39,500
Unimproved Land [Member]
Acquisitions and development projects placed in service [Abstract]
Total acquisition costs		$ 14,517,000		$ 5,067,000
Form of consideration, cash		9,795,000		3,167,000
Form of consideration, units	[1]	0		0
Form of consideration, other		4,722,000	[2]	1,900,000	[3]
Investment allocation, land		14,517,000		5,067,000
Investment allocation, building		0		0
Investment allocation, intangible assets		0		$ 0
Unimproved Land [Member] | Legacy Heights - Bismarck, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Investment allocation, land		804,000
Investment allocation, building		7,800,000
Investment allocation, escrow deposit		$ 1,300,000
Unimproved Land [Member] | Creekside Crossing - Bismarck, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		May 22, 2014
Total acquisition costs		$ 4,269,000
Form of consideration, cash		4,269,000
Form of consideration, units	[1]	0
Form of consideration, other	[2]	0
Investment allocation, land		4,269,000
Investment allocation, building		0
Investment allocation, intangible assets		$ 0
Unimproved Land [Member] | PrairieCare Medical - Brooklyn Park, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		Jun. 5, 2014
Total acquisition costs		$ 2,616,000
Form of consideration, cash		2,616,000
Form of consideration, units	[1]	0
Form of consideration, other	[2]	0
Investment allocation, land		2,616,000
Investment allocation, building		0
Investment allocation, intangible assets		$ 0
Unimproved Land [Member] | 71 France Phase I - Edina, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired	[6]	Jun. 12, 2014
Total acquisition costs	[6]	$ 1,413,000
Form of consideration, cash	[6]	0
Form of consideration, units	[1],[6]	0
Form of consideration, other	[2],[6]	1,413,000
Investment allocation, land	[6]	1,413,000
Investment allocation, building	[6]	0
Investment allocation, intangible assets	[6]	$ 0
Interest in joint venture (in hundredths)		52.60%
JV Partner Contributions		$ 1,413,000
Unimproved Land [Member] | Monticello 7th Addition - Monticello, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		Oct. 9, 2014
Total acquisition costs		$ 1,660,000
Form of consideration, cash		1,660,000
Form of consideration, units	[1]	0
Form of consideration, other	[2]	0
Investment allocation, land		1,660,000
Investment allocation, building		0
Investment allocation, intangible assets		$ 0
Unimproved Land [Member] | 71 France Phase 2 & 3 - Edina, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired	[6]	Nov. 4, 2014
Total acquisition costs	[6]	$ 3,309,000
Form of consideration, cash	[6]	0
Form of consideration, units	[1],[6]	0
Form of consideration, other	[2],[6]	3,309,000
Investment allocation, land	[6]	3,309,000
Investment allocation, building	[6]	0
Investment allocation, intangible assets	[6]	$ 0
Interest in joint venture (in hundredths)		52.60%
JV Partner Contributions		$ 3,309,000
Unimproved Land [Member] | Minot 1525 24th Ave SW - Minot, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired		Dec. 23, 2014
Total acquisition costs		$ 1,250,000
Form of consideration, cash		1,250,000
Form of consideration, units	[1]	0
Form of consideration, other	[2]	0
Investment allocation, land		1,250,000
Investment allocation, building		0
Investment allocation, intangible assets		$ 0
Unimproved Land [Member] | Chateau II - Minot, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				May 21, 2013
Total acquisition costs				$ 179,000
Form of consideration, cash				179,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				179,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
Unimproved Land [Member] | Jamestown Unimproved - Jamestown, ND [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Aug. 9, 2013
Total acquisition costs				$ 700,000
Form of consideration, cash				700,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				700,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
Unimproved Land [Member] | RED 20 - Minneapolis, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired	[7]			Aug. 20, 2013
Total acquisition costs	[7]			$ 1,900,000
Form of consideration, cash	[7]			0
Form of consideration, units	[1],[7]			0
Form of consideration, other	[3],[7]			1,900,000
Investment allocation, land	[7]			1,900,000
Investment allocation, building	[7]			0
Investment allocation, intangible assets	[7]			$ 0
Interest in joint venture (in hundredths)	[7]			58.60%
JV Partner Contributions	[7]			$ 1,900,000
Unimproved Land [Member] | Legends at Heritage Place - Sartell, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Oct. 31, 2013
Total acquisition costs				$ 537,000
Form of consideration, cash				537,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				537,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
Unimproved Land [Member] | Spring Creek Fruitland - Fruitland, IA [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Jan. 21, 2014
Total acquisition costs				$ 335,000
Form of consideration, cash				335,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				335,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
Unimproved Land [Member] | Isanti Unimproved - Isanti, MN [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Feb. 4, 2014
Total acquisition costs				$ 50,000
Form of consideration, cash				50,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				50,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
Unimproved Land [Member] | Rapid City Unimproved- Rapid City, SD [Member]
Acquisitions and development projects placed in service [Abstract]
Date acquired				Mar. 25, 2014
Total acquisition costs				$ 1,366,000
Form of consideration, cash				1,366,000
Form of consideration, units	[1]			0
Form of consideration, other	[3]			0
Investment allocation, land				1,366,000
Investment allocation, building				0
Investment allocation, intangible assets				$ 0
[1]	Value of limited partnership units of the Operating Partnership at the acquisition date.
[2]	Consists of assumed debt (Homestead Garden I - $9.9 million, Silver Springs - $2.3 million) and value of land contributed by the joint venture partner (71 France - $4.7 million).
[3]	Consists of value of land contributed by the joint venture partner.
[4]	At acquisition the Company adjusted the assumed debt to fair value and recognized approximately $852,000 of goodwill.
[5]	At acquisition, the purchase price included assets in development (land: $804,000, building: $7.8 million, escrow $1.3 million).
[6]	Land was contributed to a joint venture in which the Company has an approximately 52.6% interest. The joint venture is consolidated in IRETs financial statements.
[7]	Land is owned by a joint venture in which the Company has an approximately 58.6% interest. The joint venture is consolidated in IRETs financial statements

ACQUISITIONS, DEVELOPMENT PRO58

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE (Details) $ in Thousands		12 Months Ended
		Apr. 30, 2015USD ($)ft²Unit		Apr. 30, 2014USD ($)Unit		Apr. 30, 2013USD ($)
Business Acquisition [Line Items]
Land		$ 17,478		$ 8,034
Building		38,403		$ 34,646
Project costs incurred to date	[1]	208,982
Landing at Southgate - Minot, ND [Member]
Business Acquisition [Line Items]
Interest in joint venture (in hundredths)				52.90%
Cypress Court - St. Cloud, MN [Member]
Business Acquisition [Line Items]
Interest in joint venture (in hundredths)				86.10%
Multi-Family Residential [Member]
Business Acquisition [Line Items]
Land		2,961		$ 1,447
Building		38,403		17,635
Development Projects Placed in Service [Member]
Business Acquisition [Line Items]
Land		9,941	[2]	3,987	[3]
Building		114,548	[2]	49,560	[3]
Development cost		124,489	[2]	53,547	[3]
Development Projects Placed in Service [Member] | Multi-Family Residential [Member]
Business Acquisition [Line Items]
Land		8,949	[2]	3,987	[3]
Building		103,319	[2]	49,560	[3]
Development cost		$ 112,268	[2]	53,547	[3]
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Dakota Commons - Williston, ND [Member]
Business Acquisition [Line Items]
Date placed in service	[2],[4]	Jul. 15, 2014
Land	[2],[4]	$ 823
Building	[2],[4]	9,596
Development cost	[2],[4]	$ 10,419
Number of apartment units | Unit	[2],[4]	44
Development costs paid	[2],[4]	$ 2,300		8,100
Project costs incurred to date	[2],[4]	$ 10,419,000
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | RED 20 - Minneapolis, MN [Member]
Business Acquisition [Line Items]
Date placed in service	[2],[5]	Nov. 21, 2014
Land	[2],[5]	$ 1,900
Building	[2],[5]	26,412
Development cost	[2],[5]	$ 28,312
Number of apartment units | Unit	[2],[5]	130
Development costs paid	[2],[5]	$ 16,100		12,200
Project costs incurred to date	[2],[5]	$ 28,312,000
Interest in joint venture (in hundredths)		58.60%
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Commons at Southgate - Minot, ND [Member]
Business Acquisition [Line Items]
Date placed in service	[2],[6]	Dec. 9, 2014
Land	[2],[6]	$ 3,691
Building	[2],[6]	31,351
Development cost	[2],[6]	$ 35,042
Number of apartment units | Unit	[2],[6]	233
Development costs paid	[2],[6]	$ 8,500		26,500
Project costs incurred to date	[2],[6]	$ 35,042,000
Interest in joint venture (in hundredths)		52.90%
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Cypress Court II - St. Cloud, MN [Member]
Business Acquisition [Line Items]
Date placed in service	[2],[7]	Jan. 1, 2015
Land	[2],[7]	$ 447
Building	[2],[7]	6,320
Development cost	[2],[7]	$ 6,767
Number of apartment units | Unit	[2],[7]	64
Development costs paid	[2],[7]	$ 5,600		1,200
Project costs incurred to date	[2],[7]	$ 6,767,000
Interest in joint venture (in hundredths)		86.10%
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Arcata - Golden Valley, MN [Member]
Business Acquisition [Line Items]
Date placed in service	[2],[8]	Jan. 1, 2015
Land	[2],[8]	$ 2,088
Building	[2],[8]	29,640
Development cost	[2],[8]	$ 31,728
Number of apartment units | Unit	[2],[8]	165
Development costs paid	[2],[8]	$ 20,400		$ 11,300
Project costs incurred to date	[2],[8]	$ 31,728,000
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Landing at Southgate - Minot, ND [Member]
Business Acquisition [Line Items]
Date placed in service	[3],[9]			Sep. 4, 2013
Land	[3],[9]			$ 2,262
Building	[3],[9]			12,864
Development cost	[3],[9]			$ 15,126
Number of apartment units | Unit	[3],[9]			108
Development costs paid	[3],[9]			$ 8,800		$ 6,300
Project costs incurred to date	[3],[9]			$ 15,126,000
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | Cypress Court - St. Cloud, MN [Member]
Business Acquisition [Line Items]
Date placed in service	[3],[10]			Nov. 1, 2013
Land	[3],[10]			$ 1,136
Building	[3],[10]			12,428
Development cost	[3],[10]			$ 13,564
Number of apartment units | Unit	[3],[10]			132
Development costs paid	[3],[10]			$ 7,800		5,800
Project costs incurred to date	[3],[10]			$ 13,564,000
Development Projects Placed in Service [Member] | Multi-Family Residential [Member] | River Ridge - Bismarck, ND [Member]
Business Acquisition [Line Items]
Date placed in service	[3],[11]			Dec. 2, 2013
Land	[3],[11]			$ 589
Building	[3],[11]			24,268
Development cost	[3],[11]			$ 24,857
Number of apartment units | Unit	[3],[11]			146
Development costs paid	[3],[11]			$ 14,700		$ 10,100
Project costs incurred to date	[3],[11]			$ 24,857,000
Development Projects Placed in Service [Member] | Industrial [Member] | Roseville 3075 Long Lake Rd - Roseville, MN [Member]
Business Acquisition [Line Items]
Date placed in service	[2]	Nov. 10, 2014
Land	[2]	$ 0
Building	[2]	9,036
Development cost	[2]	$ 9,036
Area of real estate property | ft²	[2]	202,807
Development costs paid	[2]	$ 9,000
Development Projects Placed in Service [Member] | Other Property [Member] | Minot Southgate Wells Fargo Bank - Minot, ND [Member]
Business Acquisition [Line Items]
Date placed in service		Nov. 10, 2014
Land		$ 992
Building		2,193
Development cost		$ 3,185
Area of real estate property | ft²		4,998
Development costs paid		$ 3,200
[1]	Includes costs related to development projects that are placed in service in phases (Renaissance Heights - $46.0 million).
[2]	Development projects that are placed in service in phases are excluded from this table until the entire project has been placed in service. See Note 6 for additional information on the Renaissance Heights project, which was partially placed in service during fiscal years 2014 and 2015.
[3]	Development projects that are placed in service in phases are excluded from this table until the entire project has been placed in service. See Note 15 for additional information on the Renaissance Heights I project, which was partially placed in service during the three months ended April 30, 2014.
[4]	Costs paid in prior fiscal years totaled $8.1 million. Additional costs paid in fiscal year 2015 totaled $2.3 million, for a total project cost at April 30, 2015 of $10.4 million.
[5]	Costs paid in prior fiscal years totaled $12.2 million. Additional costs paid in fiscal year 2015 totaled $16.1 million, for a total project cost at April 30, 2015 of $28.3 million. The project is owned by a joint venture entity in which the Company has an approximately 58.6% interest. The joint venture is consolidated in IRET's financial statements.
[6]	Costs paid in prior fiscal years totaled $26.5 million, respectively. Additional costs paid in fiscal year 2015 totaled $8.5 million, for a total project cost at April 30, 2015 of $35.0 million. The project is owned by a joint venture entity in which the Company has an approximately 52.9% interest. The joint venture is consolidated in IRET's financial statements.
[7]	Costs paid in prior fiscal years totaled $1.2 million. Additional costs paid in fiscal year 2015 totaled $5.6 million, for a total project cost at April 30, 2015 of $6.8 million. The project is owned by a joint venture entity in which the Company has an approximately 86.1% interest. The joint venture is consolidated in IRET's financial statements.
[8]	Costs paid in prior fiscal years totaled $11.3 million, respectively. Additional costs paid in fiscal year 2015 totaled $20.4 million, for a total project cost at April 30, 2015 of $31.7 million.
[9]	Costs paid in prior fiscal years totaled $6.3 million. Costs paid in fiscal year 2014 totaled $8.8 million for a total project cost at April 30, 2014 of $15.1 million. The project is owned by a joint venture entity in which the Company has an approximately 52.9% interest.
[10]	Costs paid in prior fiscal years totaled $5.8 million. Costs paid in fiscal year 2014 totaled $7.8 million for a total project cost at April 30, 2014 of $13.6 million. The project is owned by a joint venture entity in which the Company has an approximately 86.1% interest.
[11]	Costs paid in prior fiscal years totaled $10.1 million. Costs paid in fiscal year 2014 totaled $14.7 million for a total project cost at April 30, 2014 of $24.9 million.

ACQUISITIONS, DEVELOPMENT PRO59

ACQUISITIONS, DEVELOPMENT PROJECTS PLACED IN SERVICE AND DISPOSITIONS, PROPERTY DISPOSITIONS (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2015USD ($)ft²PropertyApartment	Apr. 30, 2014USD ($)ft²Unit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price	$ 76,048	$ 80,883
Book value and sales cost	69,590	73,884
Gain/(Loss)	$ 6,458	6,999
Multi-Family Residential [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price		3,510
Book value and sales cost		3,738
Gain/(Loss)		$ (228)
Number of properties sold | Property	1
Multi-Family Residential [Member] | Lancaster - St. Cloud, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Sep. 22, 2014
Sale price	$ 4,451
Book value and sales cost	3,033
Gain/(Loss)	$ 1,418
Number of apartment units | Apartment	83
Multi-Family Residential [Member] | East Park - Sioux Falls, SD [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Dec. 18, 2013
Sale price		$ 2,214
Book value and sales cost		2,358
Gain/(Loss)		$ (144)
Number of apartment units | Unit		84
Multi-Family Residential [Member] | Sycamore Village - Sioux Falls, SD [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Dec. 18, 2013
Sale price		$ 1,296
Book value and sales cost		1,380
Gain/(Loss)		$ (84)
Number of apartment units | Unit		48
Commercial Office [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price	$ 45,100	$ 12,950
Book value and sales cost	44,858	14,504
Gain/(Loss)	$ 242	$ (1,554)
Number of properties sold | Property	15
Commercial Office [Member] | Dewey Hill - Edina, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	May 19, 2014
Sale price	$ 3,100
Book value and sales cost	3,124
Gain/(Loss)	$ (24)
Area of real estate property | ft²	73,338
Commercial Office [Member] | Wirth Corporate Center - Golden Valley, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Aug. 29, 2014
Sale price	$ 4,525
Book value and sales cost	4,695
Gain/(Loss)	$ (170)
Area of real estate property | ft²	74,568
Commercial Office [Member] | Northgate I - Maple Grove, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Dec. 1, 2014
Sale price	$ 7,200
Book value and sales cost	6,881
Gain/(Loss)	$ 319
Area of real estate property | ft²	79,297
Commercial Office [Member] | Northgate II - Maple Grove, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 2, 2015
Sale price	$ 2,725
Book value and sales cost	1,727
Gain/(Loss)	$ 998
Area of real estate property | ft²	26,000
Commercial Office [Member] | Burnsville Bluffs II - Burnsville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,245
Book value and sales cost	2,245
Gain/(Loss)	$ (1,000)
Area of real estate property | ft²	45,019
Commercial Office [Member] | Plymouth I - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,985
Book value and sales cost	1,492
Gain/(Loss)	$ 493
Area of real estate property | ft²	26,186
Commercial Office [Member] | Plymouth II - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,625
Book value and sales cost	1,356
Gain/(Loss)	$ 269
Area of real estate property | ft²	26,186
Commercial Office [Member] | Plymouth III - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 2,500
Book value and sales cost	1,977
Gain/(Loss)	$ 523
Area of real estate property | ft²	26,186
Commercial Office [Member] | Plymouth IV & V - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 12,910
Book value and sales cost	11,706
Gain/(Loss)	$ 1,204
Area of real estate property | ft²	126,936
Commercial Office [Member] | Southeast Tech Center - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 3,300
Book value and sales cost	4,196
Gain/(Loss)	$ (896)
Area of real estate property | ft²	58,300
Commercial Office [Member] | Whitewater Plaza - Minnetonka, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 3,035
Book value and sales cost	4,625
Gain/(Loss)	$ (1,590)
Area of real estate property | ft²	61,138
Commercial Office [Member] | 2030 Cliff Road - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Apr. 21, 2015
Sale price	$ 950
Book value and sales cost	834
Gain/(Loss)	$ 116
Area of real estate property | ft²	13,374
Commercial Office [Member] | Bloomington Business Plaza - Bloomington, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 4,500
Book value and sales cost		7,339
Gain/(Loss)		$ (2,839)
Area of real estate property | ft²		121,669
Commercial Office [Member] | Nicollett VII - Burnsville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 7,290
Book value and sales cost		6,001
Gain/(Loss)		$ 1,289
Number of apartment units | ft²		118,125
Commercial Office [Member] | Pillsbury Business Center - Bloomington, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 1,160
Book value and sales cost		1,164
Gain/(Loss)		$ (4)
Number of apartment units | ft²		42,929
Healthcare [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold | Property	1
Healthcare [Member] | Jamestown Medical Office Building - Jamestown, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Feb. 5, 2015
Sale price	$ 12,819
Book value and sales cost	8,710
Gain/(Loss)	$ 4,109
Area of real estate property | ft²	45,222
Commercial Industrial [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price		$ 61,138
Book value and sales cost		52,079
Gain/(Loss)		$ 9,059
Number of properties sold | Property	1
Commercial Industrial [Member] | Eagan 2785 & 2795 - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Jul. 15, 2014
Sale price	$ 3,600
Book value and sales cost	5,393
Gain/(Loss)	$ (1,793)
Area of real estate property | ft²	198,600
Commercial Industrial [Member] | Bodycote Industrial Building - Eden Prairie, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		May 13, 2013
Sale price		$ 3,150
Book value and sales cost		1,375
Gain/(Loss)		$ 1,775
Area of real estate property | ft²		41,880
Commercial Industrial [Member] | Fargo 1320 45th Street N - Fargo, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		May 13, 2013
Sale price		$ 4,700
Book value and sales cost		4,100
Gain/(Loss)		$ 600
Area of real estate property | ft²		42,244
Commercial Industrial [Member] | Metal Improvement Company - New Brighton, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		May 13, 2013
Sale price		$ 2,350
Book value and sales cost		1,949
Gain/(Loss)		$ 401
Area of real estate property | ft²		49,620
Commercial Industrial [Member] | Roseville 2929 Long Lake Road - Roseville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		May 13, 2013
Sale price		$ 9,275
Book value and sales cost		9,998
Gain/(Loss)		$ (723)
Area of real estate property | ft²		172,057
Commercial Industrial [Member] | Brooklyn Park 7401 Boone Avenue - Brooklyn Park, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 12,800
Book value and sales cost		12,181
Gain/(Loss)		$ 619
Area of real estate property | ft²		322,751
Commercial Industrial [Member] | Cedar Lake Business Center - St. Louis Park, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 2,550
Book value and sales cost		2,607
Gain/(Loss)		$ (57)
Area of real estate property | ft²		50,400
Commercial Industrial [Member] | API Building - Duluth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 24, 2013
Sale price		$ 2,553
Book value and sales cost		1,488
Gain/(Loss)		$ 1,065
Area of real estate property | ft²		35,000
Commercial Industrial [Member] | Lighthouse - Duluth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Oct. 8, 2013
Sale price		$ 1,825
Book value and sales cost		1,547
Gain/(Loss)		$ 278
Area of real estate property | ft²		59,292
Commercial Industrial [Member] | Dixon Avenue Industrial Park - Des Moines, IA [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Oct. 31, 2013
Sale price		$ 14,675
Book value and sales cost		10,328
Gain/(Loss)		$ 4,347
Area of real estate property | ft²		606,006
Commercial Industrial [Member] | Winsted Industrial Building - Winsted, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Jan. 17, 2014
Sale price		$ 725
Book value and sales cost		747
Gain/(Loss)		$ (22)
Area of real estate property | ft²		41,685
Commercial Industrial [Member] | Minnetonka 13600 County Road 62 - Minnetonka, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Jan. 30, 2014
Sale price		$ 3,800
Book value and sales cost		3,084
Gain/(Loss)		$ 716
Area of real estate property | ft²		69,984
Commercial Industrial [Member] | Clive 2075 NW 94th Street - Clive, IA [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Jan. 30, 2014
Sale price		$ 2,735
Book value and sales cost		2,675
Gain/(Loss)		$ 60
Area of real estate property | ft²		42,510
Unimproved Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price	$ 828
Book value and sales cost	828
Gain/(Loss)	$ 0
Number of properties sold | Property	2
Unimproved Land [Member] | Kalispell Unimproved - Kalispell, MT [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Oct. 15, 2014
Sale price	$ 670
Book value and sales cost	670
Gain/(Loss)	$ 0
Unimproved Land [Member] | Weston - Weston, WI [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Feb. 17, 2015
Sale price	$ 158
Book value and sales cost	158
Gain/(Loss)	0
Other Property [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale price	54,350	$ 16,235
Book value and sales cost	51,626	18,067
Gain/(Loss)	$ 2,724	$ (1,832)
Other Property [Member] | Dewey Hill - Edina, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	May 19, 2014
Sale price	$ 3,100
Book value and sales cost	3,124
Gain/(Loss)	$ (24)
Area of real estate property | ft²	73,338
Other Property [Member] | Wirth Corporate Center - Golden Valley, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Aug. 29, 2014
Sale price	$ 4,525
Book value and sales cost	4,695
Gain/(Loss)	$ (170)
Area of real estate property | ft²	74,568
Other Property [Member] | Northgate I - Maple Grove, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Dec. 1, 2014
Sale price	$ 7,200
Book value and sales cost	6,881
Gain/(Loss)	$ 319
Area of real estate property | ft²	79,297
Other Property [Member] | Northgate II - Maple Grove, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 2, 2015
Sale price	$ 2,725
Book value and sales cost	1,727
Gain/(Loss)	$ 998
Area of real estate property | ft²	26,000
Other Property [Member] | Burnsville Bluffs II - Burnsville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,245
Book value and sales cost	2,245
Gain/(Loss)	$ (1,000)
Area of real estate property | ft²	45,019
Other Property [Member] | Plymouth I - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,985
Book value and sales cost	1,492
Gain/(Loss)	$ 493
Area of real estate property | ft²	26,186
Other Property [Member] | Plymouth II - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 1,625
Book value and sales cost	1,356
Gain/(Loss)	$ 269
Area of real estate property | ft²	26,186
Other Property [Member] | Plymouth III - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 2,500
Book value and sales cost	1,977
Gain/(Loss)	$ 523
Area of real estate property | ft²	26,186
Other Property [Member] | Plymouth IV & V - Plymouth, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 12,910
Book value and sales cost	11,706
Gain/(Loss)	$ 1,204
Area of real estate property | ft²	126,936
Other Property [Member] | Southeast Tech Center - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 3,300
Book value and sales cost	4,196
Gain/(Loss)	$ (896)
Area of real estate property | ft²	58,300
Other Property [Member] | Whitewater Plaza - Minnetonka, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Mar. 25, 2015
Sale price	$ 3,035
Book value and sales cost	4,625
Gain/(Loss)	$ (1,590)
Area of real estate property | ft²	61,138
Other Property [Member] | 2030 Cliff Road - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Apr. 21, 2015
Sale price	$ 950
Book value and sales cost	834
Gain/(Loss)	$ 116
Area of real estate property | ft²	13,374
Other Property [Member] | Bloomington Business Plaza - Bloomington, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 4,500
Book value and sales cost		7,339
Gain/(Loss)		$ (2,839)
Area of real estate property | ft²		121,669
Other Property [Member] | Nicollett VII - Burnsville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 7,290
Book value and sales cost		6,001
Gain/(Loss)		$ 1,289
Area of real estate property | ft²		118,125
Other Property [Member] | Pillsbury Business Center - Bloomington, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Sep. 12, 2013
Sale price		$ 1,160
Book value and sales cost		1,164
Gain/(Loss)		$ (4)
Area of real estate property | ft²		42,929
Other Property [Member] | Weston Retail - Weston, WI [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Jul. 28, 2014
Book value and sales cost	$ 1,176
Gain/(Loss)	$ (1,176)
Area of real estate property | ft²	25,644
Other Property [Member] | Kalispell Retail - Kalispell, MT [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Oct. 15, 2014
Sale price	$ 1,230
Book value and sales cost	1,229
Gain/(Loss)	$ 1
Area of real estate property | ft²	52,000
Other Property [Member] | Fargo Express Center & SC Pad - Fargo, ND [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Nov. 18, 2014
Sale price	$ 2,843
Book value and sales cost	2,211
Gain/(Loss)	$ 632
Area of real estate property | ft²	34,226
Other Property [Member] | Weston Walgreens - Weston, WI [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed	Feb. 27, 2015
Sale price	$ 5,177
Book value and sales cost	2,152
Gain/(Loss)	$ 3,025
Area of real estate property | ft²	14,820
Other Property [Member] | Eagan Community - Eagan, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		May 14, 2013
Sale price		$ 2,310
Book value and sales cost		2,420
Gain/(Loss)		$ (110)
Area of real estate property | ft²		23,187
Other Property [Member] | Anoka Strip Center - Anoka, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Dec. 23, 2013
Sale price		$ 325
Book value and sales cost		347
Gain/(Loss)		$ (22)
Area of real estate property | ft²		10,625
Other Property [Member] | Burnsville 2 Strip Center - Burnsville, MN [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Date disposed		Jan. 8, 2014
Sale price		$ 650
Book value and sales cost		796
Gain/(Loss)		$ (146)
Area of real estate property | ft²		8,400

OPERATING SEGMENTS (Details)

OPERATING SEGMENTS (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2016Segment	Apr. 30, 2015USD ($)Segment	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)	Apr. 30, 2012USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment		5
Segment revenues and net operating income [Abstract]
Real estate revenue		$ 200,995	$ 185,379	$ 169,733
Real estate expenses		73,833	69,805	62,170
Gain on involuntary conversion		0	2,480	5,084
Net operating income		127,162	118,054	112,647
TRS senior housing revenue, net of expense		523	296
Depreciation/amortization		(51,775)	(50,069)	(42,430)
Administrative expenses		(11,824)	(10,743)	(8,494)
Other expenses		(2,010)	(2,129)	(2,171)
Impairment of real estate investments		(4,663)	(7,700)
Interest expense		(40,071)	(39,619)	(40,441)
Interest and other income		2,961	2,148	732
Income (loss) before gain (loss) on sale of real estate and other investments and income from discontinued operations		20,298	10,238	19,843
Gain (Loss) on sale of real estate and other investments		6,093	(51)	0
Income (loss) from continuing operations		26,391	10,187	19,843
Income (loss) from discontinued operations		2,293	(27,127)	10,129
NET INCOME (LOSS)		28,684	(16,940)	29,972
Segment Assets [Abstract]
Property owned		1,546,367	1,450,216
Less accumulated depreciation		(313,308)	(302,405)
Total property owned		1,233,059	1,147,811
Assets held for sale and assets of discontinued operations		463,103	457,307
Cash and cash equivalents		48,970	47,267	94,133	$ 39,989
Other investments		329	329
Receivables and other assets		7,255	89,034
Development in progress		153,994	104,609
Unimproved land		25,827	22,864
TOTAL ASSETS		1,997,837	1,869,221
Subsequent Event [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	3
Multi-Family Residential [Member] | Operating Segments [Member]
Segment revenues and net operating income [Abstract]
Real estate revenue		118,526	102,059	89,923
Real estate expenses		51,172	46,138	38,223
Gain on involuntary conversion			2,480	3,852
Net operating income		67,354	58,401	55,552
Segment Assets [Abstract]
Property owned		946,520	753,731
Less accumulated depreciation		(180,414)	(158,100)
Total property owned		766,106	595,631
Healthcare [Member] | Operating Segments [Member]
Segment revenues and net operating income [Abstract]
Real estate revenue		65,828	64,887	61,625
Real estate expenses		16,937	16,889	16,529
Gain on involuntary conversion			0	0
Net operating income		48,891	47,988	45,096
Segment Assets [Abstract]
Property owned		495,021	522,135
Less accumulated depreciation		(112,515)	(105,376)
Total property owned		382,506	416,759
Industrial [Member] | Operating Segments [Member]
Segment revenues and net operating income [Abstract]
Real estate revenue		6,491	6,894	6,700
Real estate expenses		1,536	2,043	1,871
Gain on involuntary conversion			0	0
Net operating income		4,955	4,851	4,829
Segment Assets [Abstract]
Property owned		60,611	55,375
Less accumulated depreciation		(11,256)	(10,198)
Total property owned		49,355	45,177
Other Segments [Member] | Operating Segments [Member]
Segment revenues and net operating income [Abstract]
Real estate revenue		10,150	11,539	11,485
Real estate expenses		4,188	4,725	5,547
Gain on involuntary conversion			0	1,232
Net operating income		5,962	6,814	$ 7,170
Segment Assets [Abstract]
Property owned		44,215	118,975
Less accumulated depreciation		(9,123)	(28,731)
Total property owned		$ 35,092	$ 90,244

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2015USD ($)	Jan. 31, 2015USD ($)	Oct. 31, 2014USD ($)	Jul. 31, 2014USD ($)	Apr. 30, 2014USD ($)	Jan. 31, 2014USD ($)	Oct. 31, 2013USD ($)	Jul. 31, 2013USD ($)	Apr. 30, 2016Property	Apr. 30, 2015USD ($)	Apr. 30, 2014USD ($)Property	Apr. 30, 2013USD ($)Property	Apr. 30, 2012Property
REVENUE
Real estate rentals										$ 181,261	$ 165,465	$ 151,083
Tenant reimbursement										19,734	19,914	18,650
TOTAL REVENUE	$ 51,173	$ 52,939	$ 51,189	$ 49,214	$ 47,440	$ 48,383	$ 45,896	$ 45,287		204,515	187,006	169,733
EXPENSES
Depreciation/amortization related to real estate investments										50,886	49,153	41,602
Utilities										13,388	13,605	11,363
Maintenance										20,063	19,435	17,062
Real estate taxes										20,039	19,035	18,223
Insurance										4,760	4,090	2,801
Property management expenses										14,707	13,526	11,713
Other property expenses										876	114	1,008
Other expenses										2,010	2,129	2,171
Amortization related to non-real estate investments										889	916	828
Impairment of real estate investments										4,663	7,700
TOTAL EXPENSES										147,102	141,777	115,265
Operating (loss) income										57,413	47,709	59,552
Interest expense										(40,071)	(39,619)	(40,441)
Other income										718	242	512
Gain on sale of discontinued operations										6,093	6,948	6,885
INCOME FROM DISCONTINUED OPERATIONS										2,293	(27,127)	10,129
Property Sale Data
Gain on sale of discontinued operations										6,093	6,948	6,885
Carrying amounts of major classes of assets included as part of discontinued operations
Property owned and intangible assets, net of accumulated depreciation and amortization	417,045				425,676					417,045	425,676
Receivable arising from straight-lining of rents	10,078				11,087					10,078	11,087
Accounts receivable	566				1,752					566	1,752
Prepaid and other assets	699				691					699	691
Tax, isurance and other escrow	1,176				4,655					1,176	4,655
Property and equipment	0				7					0	7
Goodwill	193				0					193	0
Deferred charges and leasing costs	9,606				10,488					9,606	10,488
Total major classes of assets of the discontinued operations	439,363				454,356					439,363	454,356	72,631
Other assets included in the disposal group classified as held for sale	23,740				2,951					23,740	2,951
Total assets of the disposal group classified as held for sale on the balance sheet	463,103				457,307					463,103	457,307
Carrying amounts of major classes of liabilities included as part of discontinued operations
Accounts payable and accrued expenses	13,952				13,988					13,952	13,988
Mortgages payable	295,677				318,734					295,677	318,734
Other	4				9					4	9
Total major classes of liabilities of the discontinued operations	309,633				332,731					309,633	332,731
Other liabilities included in the disposal group classified as held for sale	11,760				0					11,760	0
Total liabilities of the disposal group classified as held for sale on the balance sheet	$ 321,393				$ 332,731					321,393	332,731	$ 1,335
Discontinued Operations, Held-for-sale [Member]
EXPENSES
Impairment of real estate investments											$ 36,700
Multi-Family Residential [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property											2	3
Commercial Office [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property											3
Commercial Office [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property									48
Commercial Healthcare [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property												1
Commercial Healthcare [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property									1
Commercial Industrial [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property											12
Retail [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property											3	1	1
Number of properties classified as held for sale | Property													1
Retail [Member] | Subsequent Event [Member] | Discontinued Operations, Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property									17
Condominium Unit [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as discontinued operations | Property												4	8
Number of properties classified as held for sale | Property													8
Discontinued Operations [Member]
REVENUE
Real estate rentals										54,591	$ 57,629	$ 63,704
Tenant reimbursement										24,084	26,949	27,788
TOTAL REVENUE										78,675	84,578	91,492
EXPENSES
Depreciation/amortization related to real estate investments										16,226	19,259	20,873
Utilities										7,493	8,423	7,876
Maintenance										10,861	12,022	12,307
Real estate taxes										13,906	14,898	16,235
Insurance										1,079	1,172	1,151
Property management expenses										3,795	3,657	3,810
Other property expenses										30	243	16
Other expenses										0	3	2
Amortization related to non-real estate investments										2,606	2,500	2,446
Impairment of real estate investments										1,442	36,726	305
TOTAL EXPENSES										57,438	99,003	65,021
Operating (loss) income										21,237	(14,425)	26,471
Interest expense										(18,949)	19,944	23,425
Interest income										0	2	2
Other income										5	241	16
(Loss) income from discontinued operations before gain on sale										2,293	(34,126)	3,244
Gain on sale of discontinued operations										0	6,999	3,885
INCOME FROM DISCONTINUED OPERATIONS										2,293	(27,127)	10,129
Property Sale Data
Sales price											80,883	26,273
Net book value and sales costs											(73,884)	(19,388)
Gain on sale of discontinued operations										0	6,999	3,885
Discontinued Operations [Member] | Multi-Family Residential [Member]
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS										0	(99)	3,712
Discontinued Operations [Member] | Commercial Healthcare [Member]
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS										(55)	(68)	3,307
Discontinued Operations [Member] | Commercial Industrial [Member]
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS										0	8,923	2,118
Discontinued Operations [Member] | Other Segments [Member]
EXPENSES
INCOME FROM DISCONTINUED OPERATIONS										$ 2,348	$ (35,883)	$ 992

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
EARNINGS PER SHARE [Abstract]
Ratio of units exchanged for shares									one-for-one basis
Minimum holding period									1 year
NUMERATOR [Abstract]
Income (loss) from continuing operations - Investors Real Estate Trust									$ 22,076	$ 9,633	$ 17,247
Income (loss)from discontinued operations - Investors Real Estate Trust									2,011	(22,807)	8,283
Net income (loss) attributable to Investors Real Estate Trust	$ 10,753	$ 8,371	$ 5,114	$ (151)	$ (28,542)	$ 3,503	$ 8,787	$ 3,078	24,087	(13,174)	25,530
Dividends to preferred shareholders									(11,514)	(11,514)	(9,229)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 7,875	$ 5,492	$ 2,236	$ (3,030)	$ (31,420)	$ 624	$ 5,909	$ 199	12,573	(24,688)	16,301
Noncontrolling interests - Operating Partnership									1,526	(4,676)	3,633
Numerator for diluted earnings per share									$ 14,099	$ (29,364)	$ 19,934
DENOMINATOR [Abstract]
Denominator for basic earnings per share weighted average shares (in shares)									118,004	105,331	93,344
Effect of convertible operating partnership units (in shares)									16,594	21,697	21,191
Denominator for diluted earnings per share (in shares)									134,598	127,028	114,535
(Loss) earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)									$ 0.09	$ (0.01)	$ 0.08
Earnings (loss) per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)									0.02	(0.22)	0.09
NET INCOME (LOSS) PER COMMON SHARE - BASIC & DILUTED	$ 0.07	$ 0.05	$ 0.02	$ (0.03)	$ (0.29)	$ 0	$ 0.06	$ 0	$ 0.11	$ (0.23)	$ 0.17

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($)	12 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
RETIREMENT PLANS [Abstract]
Age threshold for 401 (k) plan	21 years
Hours worked per calendar year established as threshold for 401(k) plan	1000 hours
Requisite service period to participate in contribution plan	6 months
Maximum contribution each employee towards profit sharing plan (in hundredths)	3.50%
Maximum contribution each employee, towards 401(k) plan (in hundredths)	4.00%
Total contribution percentage in profit sharing and 401(k) plan (in hundredths)	7.50%
Employer contribution towards profit sharing plan and 401(k) plan	$ 1,000,000	$ 1,100,000	$ 912,000

COMMITMENTS AND CONTINGENCIES64

COMMITMENTS AND CONTINGENCIES (Details) ft² in Millions	12 Months Ended
	Apr. 30, 2015USD ($)ft²PropertyUnitLease	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)
Real Estate Properties [Line Items]
Number of properties under operating ground and air rights lease | Property	11
Rent payable per year under ground lease	$ 500,000
Operating Leases, Future Minimum Payments [Abstract]
2,016	478,000
2,017	449,000
2,018	449,000
2,019	449,000
2,020	449,000
Thereafter	20,764,000
Total	23,038,000
Tenant improvements	$ 7,200,000
Commitment period for tenant improvements	12 months
Total property cost subject to purchase options	$ 1,546,367,000	$ 1,450,216,000
Total gross rental revenue from properties subject to purchase options	181,261,000	165,465,000	$ 151,083,000
Real estate investment amount of properties (net of accumulated depreciation)	$ 738,700,000
Redemption basis	1:1
Minimum redemption holding period	1 year
Number of consecutive trading days for valuation	10 days
Aggregate redemption value of Units of operating partnership owned by limited partners	$ 102,400,000	$ 185,700,000
Minimum [Member]
Real Estate Properties [Line Items]
Lease term of property	6 months
Lease expiration date	Oct. 31, 2015
Number of renewal options | Lease	6
Maximum [Member]
Real Estate Properties [Line Items]
Lease term of property	86 years
Lease expiration date	Oct. 31, 2100
Number of renewal options | Lease	11
Subject to Purchase Options [Member]
Operating Leases, Future Minimum Payments [Abstract]
Number of properties | Property	15
Total property cost subject to purchase options	$ 114,900,000
Total gross rental revenue from properties subject to purchase options	$ 10,200,000
Subject to Restrictions on Taxable Dispositions [Member]
Operating Leases, Future Minimum Payments [Abstract]
Number of properties | Property	94
Combined Commercial Segments [Member]
Operating Leases, Future Minimum Payments [Abstract]
Area of real estate property | ft²	4.3
Multi Family Residential [Member]
Operating Leases, Future Minimum Payments [Abstract]
Number of apartment units subject to restrictions on taxable dispositions | Unit	4,910

COMMITMENTS AND CONTINGENCIES,

COMMITMENTS AND CONTINGENCIES, Development, Expansion and Renovation Projects (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2015USD ($)ft²Unit
Real Estate Properties [Line Items]
Anticipated Total Cost	$ 292,765
Project costs incurred to date	208,982	[1]
Other [Member]
Real Estate Properties [Line Items]
Project costs incurred to date	$ 6,618	[1]
Multi Family Residential [Member] | Chateau II - Minot, ND [Member]
Real Estate Properties [Line Items]
Number of apartment units | Unit	72
Anticipated Total Cost	$ 14,711
Project costs incurred to date	$ 13,129	[1]
Estimated quarter for completion	1
Estimated year for completion	2,016
Multi Family Residential [Member] | Renaissance Heights - Williston ND [Member]
Real Estate Properties [Line Items]
Number of apartment units | Unit	288	[2]
Anticipated Total Cost	$ 62,362	[2]
Project costs incurred to date	$ 59,087	[1],[2]
Estimated quarter for completion	1	[2]
Estimated year for completion	2,016	[2]
Interest in joint venture (in hundredths)	70.00%
Costs related to development projects placed in service in phases	$ 46,000
Multi Family Residential [Member] | Deer Ridge - Jamestown, ND [Member]
Real Estate Properties [Line Items]
Number of apartment units | Unit	163
Anticipated Total Cost	$ 24,519
Project costs incurred to date	$ 15,355	[1]
Estimated quarter for completion	2
Estimated year for completion	2,016
Multi Family Residential [Member] | Cardinal Point - Grand Forks, ND [Member]
Real Estate Properties [Line Items]
Number of apartment units | Unit	251
Anticipated Total Cost	$ 40,042
Project costs incurred to date	$ 26,450	[1]
Estimated quarter for completion	3
Estimated year for completion	2,016
Multi Family Residential [Member] | 71 France Phase I, II, III - Edina, MN [Member]
Real Estate Properties [Line Items]
Area of real estate property | ft²	21,772
Number of apartment units | Unit	241	[3]
Anticipated Total Cost	$ 73,290	[3]
Project costs incurred to date	$ 35,137	[1],[3]
Estimated quarter for completion	1	[3]
Estimated year for completion	2,017	[3]
Interest in joint venture (in hundredths)	52.60%
Commercial Healthcare [Member] | Edina 6565 France SMC III - Edina, MN [Member]
Real Estate Properties [Line Items]
Area of real estate property | ft²	57,479
Anticipated Total Cost	$ 36,752
Project costs incurred to date	$ 22,549	[1]
Estimated quarter for completion	1
Estimated year for completion	2,016
Commercial Healthcare [Member] | PrairieCare Medical - Brooklyn Park, MN [Member]
Real Estate Properties [Line Items]
Area of real estate property | ft²	72,895
Anticipated Total Cost	$ 24,251
Project costs incurred to date	$ 19,457	[1]
Estimated quarter for completion	2
Estimated year for completion	2,016
Other Property [Member] | Roseville 3075 Long Lake Rd - Roseville, MN [Member]
Real Estate Properties [Line Items]
Area of real estate property | ft²	202,807
Anticipated Total Cost	$ 13,915
Project costs incurred to date	$ 9,036
Other Property [Member] | Minot Southgate Retail Minot ND [Member]
Real Estate Properties [Line Items]
Area of real estate property | ft²	7,963
Anticipated Total Cost	$ 2,923
Project costs incurred to date	$ 2,164
Estimated quarter for completion	1
Estimated year for completion	2,016
[1]	Includes costs related to development projects that are placed in service in phases (Renaissance Heights - $46.0 million).
[2]	The Company is an approximately 70% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
[3]	The project will be constructed in three phases by a joint venture entity in which the Company has an approximately 52.6% interest. The anticipated total cost amount given in the table above is the total cost to the joint venture entity. The anticipated total cost includes approximately 21,772 square feet of retail space.

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 30, 2014
FINANCIAL LIABILITIES [Abstract]
Mortgages payable	$ 668,112	$ 678,955
Carrying Amount [Member]
FINANCIAL ASSETS [Abstract]
Cash and cash equivalents	48,970	47,267
Other investments	329	329
FINANCIAL LIABILITIES [Abstract]
Other debt	144,090	63,132
Lines of credit	60,500	22,500
Mortgages payable	668,112	678,955
Fair Value [Member]
FINANCIAL ASSETS [Abstract]
Cash and cash equivalents	48,970	47,267
Other investments	329	329
FINANCIAL LIABILITIES [Abstract]
Other debt	143,749	63,250
Lines of credit	60,500	22,500
Mortgages payable	749,604	751,117
Nonrecurring [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments		89,537
Real estate held for sale	7,100	2,951
Nonrecurring [Member] | Level 1 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments		0
Real estate held for sale	0	0
Nonrecurring [Member] | Level 2 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments		0
Real estate held for sale	0	0
Nonrecurring [Member] | Level 3 [Member]
Fair Value Measurements on a Nonrecurring Basis [Abstract]
Real estate investments		89,537
Real estate held for sale	$ 7,100	$ 2,951

COMMON AND PREFERRED SHARES O67

COMMON AND PREFERRED SHARES OF BENEFICIAL INTEREST AND EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 07, 2012	Apr. 30, 2015	Apr. 30, 2014
Distribution Reinvestment and Share Purchase Plan [Abstract]
Discount rate on shares (in hundredths)		3.00%
Conversion of Units to Common Shares. [Abstract]
Units converted to common stock (in shares)		7,200,000	903,000
Units converted to common stock		$ 41.3	$ 4.4
Common Stock [Member]
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Aggregate offering price			$ 75
Preferred Class A [Member]
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)	1,150,000	1,150,000	1,150,000
Sale of stock, price per share (in dollars per share)	$ 25
Proceeds from issuance of cumulative redeemable preferred shares	$ 27.3
Preferred shares liquidation per annum (in dollars per share)	$ 2.0625
Distribution rate percentage (in hundredths)	8.25%
Preferred shares liquidation (in dollars per share)	$ 25
Preferred Class B [Member]
Series A Cumulative Redeemable Preferred Shares of Beneficial Interest [Abstract]
Preferred shares issued (in shares)	4,600,000	4,600,000	4,600,000
Sale of stock, price per share (in dollars per share)	$ 25
Proceeds from issuance of cumulative redeemable preferred shares	$ 111.2
Preferred shares liquidation per annum (in dollars per share)	$ 1.9875
Distribution rate percentage (in hundredths)	7.95%
Preferred shares liquidation (in dollars per share)	$ 25
Preferred shares liquidation preference	$ 115
Distribution Reinvestment and Share Purchase Plan [Member]
Distribution Reinvestment and Share Purchase Plan [Abstract]
Shares issued (in shares)		8,100,000	6,600,000
Shares issued		$ 64.9	$ 55.8
Distribution Reinvestment and Share Purchase Plan [Member] | Voluntary cash contributions [Member]
Distribution Reinvestment and Share Purchase Plan [Abstract]
Shares issued (in shares)		6,000,000	4,800,000
Shares issued		$ 48.7	$ 41.2
Distribution Reinvestment and Share Purchase Plan [Member] | Reinvested distributions [Member]
Distribution Reinvestment and Share Purchase Plan [Abstract]
Shares issued (in shares)		2,100,000	1,800,000
Shares issued		$ 16.2	$ 14.6

QUARTERLY RESULTS OF CONSOLID68

QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Apr. 30, 2015	Jan. 31, 2015	Oct. 31, 2014	Jul. 31, 2014	Apr. 30, 2014	Jan. 31, 2014	Oct. 31, 2013	Jul. 31, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
QUARTERLY RESULTS OF CONSOLIDATED OPERATIONS (unaudited) [Abstract]
Revenues	$ 51,173	$ 52,939	$ 51,189	$ 49,214	$ 47,440	$ 48,383	$ 45,896	$ 45,287	$ 204,515	$ 187,006	$ 169,733
Net income (loss) attributable to Investors Real Estate Trust	10,753	8,371	5,114	(151)	(28,542)	3,503	8,787	3,078	24,087	(13,174)	25,530
Net income (loss) available to common shareholders	$ 7,875	$ 5,492	$ 2,236	$ (3,030)	$ (31,420)	$ 624	$ 5,909	$ 199	$ 12,573	$ (24,688)	$ 16,301
Net income (loss) per common share - basic & diluted (in dollars per share)	$ 0.07	$ 0.05	$ 0.02	$ (0.03)	$ (0.29)	$ 0	$ 0.06	$ 0	$ 0.11	$ (0.23)	$ 0.17

REDEEMABLE NONCONTROLLING INT69

REDEEMABLE NONCONTROLLING INTERESTS (Details) $ in Thousands	12 Months Ended
	Apr. 30, 2015USD ($)JointVenture	Apr. 30, 2014USD ($)	Apr. 30, 2013USD ($)
Redeemable Noncontrolling Interest [Line Items]
Balance at beginning of fiscal year	$ 6,203
Contributions	8,909	$ 3,895	$ 6,483
Balance at close of fiscal year	$ 6,368	6,203
Number of joint ventures | JointVenture	1
Agreement period of joint venture	4 years
Southgate - Minot, ND [Member]
Redeemable Noncontrolling Interest [Line Items]
Balance at beginning of fiscal year	$ 6,203	5,937	0
Contributions	0	0	5,932
Net income	165	266	5
Balance at close of fiscal year	$ 6,368	$ 6,203	$ 5,937

SHARE BASED COMPENSATION (Detai

SHARE BASED COMPENSATION (Details)	12 Months Ended
	Apr. 30, 2015USD ($)PerformanceObjective$ / sharesshares	Apr. 30, 2014USD ($)$ / sharesshares	Apr. 30, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,215,000	$ 1,162,000	$ 45,000
Restricted Stock [Member]
Restricted share awards, shares [Roll Forward]
Unvested, beginning of period (in shares) | shares	104,855	0
Granted (in shares) | shares	107,536	104,855
Vested during year (in shares) | shares	(79,181)
Forfeited (in shares) | shares	(25,674)
Unvested, end of period (in shares) | shares	107,536	104,855	0
Weighted avg grant-date fair value [Abstract]
Unvested, beginning of period (in dollars per share) | $ / shares	$ 8.72	$ 0
Granted (in dollars per share) | $ / shares	7.17	8.72
Vested during period (in dollars per share) | $ / shares	8.72
Forfeited (in dollars per share) | $ / shares	8.72
Unvested, end of period (in dollars per share) | $ / shares	$ 7.17	$ 8.72	$ 0
2008 Incentive Award Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares (in shares) | shares	2,000,000
Term of award (in years)	10 years
Long Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive plan award description	Three-Year Average Annual Total Shareholder Return
Dividend yield (in hundredths)	6.10%
Long Term Incentive Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate (in hundredths)	15.00%
Risk-free interest rate (in hundredths)	0.03%
Officers' total award opportunity under the LTIP stated as a percentage of base salary (in hundredths)	50.00%
Calculated grant date fair value as a percentage of base salary for officers (in hundredths)	47.00%
Long Term Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility rate (in hundredths)	20.00%
Risk-free interest rate (in hundredths)	0.09%
Officers' total award opportunity under the LTIP stated as a percentage of base salary (in hundredths)	100.00%
Calculated grant date fair value as a percentage of base salary for officers (in hundredths)	94.00%
Long Term Incentive Plan [Member] | Unrestricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards payable (in hundredths)	50.00%
Performance period (in years)	1 year
Restricted shares vesting period	1 year
Long Term Incentive Plan [Member] | Unrestricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance objectives to meet | PerformanceObjective	1
Long Term Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards payable (in hundredths)	50.00%
Performance period (in years)	2 years
Long Term Incentive Plan [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 0
Long Term Incentive Plan [Member] | Performance Shares [Member] | 2015 Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,300,000
Long Term Incentive Plan [Member] | Performance Shares [Member] | 2014 Performance Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	690,000	$ 914,000
Trustee Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	39,139	28,976	15,975
Restricted Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of share grants vested	568,000	$ 0	$ 0
Total compensation cost related to non-vested share awards	$ 771,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	Jun. 25, 2015USD ($)UnitParcel	Jun. 12, 2015USD ($)UnitState	May. 18, 2015USD ($)	Jun. 29, 2015USD ($)ft²	Apr. 30, 2015USD ($)	Apr. 30, 2014USD ($)	Jun. 02, 2015$ / shares
Subsequent Event [Line Items]
Purchase price of acquired property					$ 56,297	$ 43,580
Commitment of credit facility					90,000
Minimum [Member]
Subsequent Event [Line Items]
Commitment of credit facility					90,000
Maximum [Member]
Subsequent Event [Line Items]
Commitment of credit facility					$ 100,000
Common Shares and Limited Partnership Units [Member]
Subsequent Event [Line Items]
Record Date					Jun. 15, 2015
Payment Date					Jul. 1, 2015
Series A Preferred Stock [Member]
Subsequent Event [Line Items]
Record Date					Jun. 15, 2015
Payment Date					Jun. 30, 2015
Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Record Date					Jun. 15, 2015
Payment Date					Jun. 30, 2015
Multi Family Residential [Member]
Subsequent Event [Line Items]
Purchase price of acquired property					$ 41,780	$ 19,600
Subsequent Event [Member]
Subsequent Event [Line Items]
Sales price of office properties	$ 81,500	$ 250,000
Number of units | Unit	17	34
Number of states | State		8
Commitment of credit facility				$ 100,000
Parcel of undeveloped real estate sold | Parcel	1
Subsequent Event [Member] | Common Shares and Limited Partnership Units [Member]
Subsequent Event [Line Items]
Quarterly amount per share or unit (in dollars per share) | $ / shares							$ 0.1300
Subsequent Event [Member] | Series A Preferred Stock [Member]
Subsequent Event [Line Items]
Quarterly amount per share or unit (in dollars per share) | $ / shares							0.5156
Subsequent Event [Member] | Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Quarterly amount per share or unit (in dollars per share) | $ / shares							$ 0.4968
Subsequent Event [Member] | Commercial Office [Member] | Omaha, Nebraska [Member]
Subsequent Event [Line Items]
Square footage of pending development (in square feet) | ft²				28,000
Purchase price of acquired property				$ 6,500
Subsequent Event [Member] | Commercial Office [Member] | Mendota Heights, Minnesota [Member]
Subsequent Event [Line Items]
Sales price of office properties		$ 40,000
Number of units | Unit		5
Interest in joint venture (in hundredths)		51.00%
Subsequent Event [Member] | Commercial Office [Member] | Minneapolis, Minnesota [Member]
Subsequent Event [Line Items]
Sales price of office properties			$ 7,000

SCHEDULE III - REAL ESTATE AN72

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Details) - USD ($)		12 Months Ended
		Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				$ 667,544,000
Initial Cost to Company [Abstract]
Land					146,965,000
Buildings & Improvements					1,349,531,000
Costs capitalized subsequent to acquisition					229,692,000
Gross amount at which carried at close of period [Abstract]
Land					167,129,000
Buildings & Improvements					1,559,059,000
Total		$ 1,726,189,000			1,726,189,000
Accumulated Depreciation		$ (313,308,000)			(313,308,000)
Maximum borrowing capacity					90,000,000
Advances under the facility specified as percentage of value of properties provided as security (in hundredths)		60.00%
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,726,189,000
Deductions during year [Abstract]
Balance at close of year		313,308,000
Total real estate investments	[2]				1,412,880,000	$ 1,275,284,000	$ 1,214,235,000
Net basis of real estate investments for federal income tax purposes					1,700,000,000	1,500,000,000	1,500,000,000
Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Maximum borrowing capacity					90,000,000
Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Maximum borrowing capacity					100,000,000
Discontinued Operations [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					295,678,000
Initial Cost to Company [Abstract]
Land					76,228,000
Buildings & Improvements					405,130,000
Costs capitalized subsequent to acquisition					70,311,000
Gross amount at which carried at close of period [Abstract]
Land					80,424,000
Buildings & Improvements					471,245,000
Total		551,669,000			551,669,000
Accumulated Depreciation		(135,679,000)			(135,679,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		551,669,000
Deductions during year [Abstract]
Balance at close of year		135,679,000
Discontinued Operations [Member] | 610 Business Center IV - Brooklyn Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					6,759,000
Initial Cost to Company [Abstract]
Land					975,000
Buildings & Improvements					5,542,000
Costs capitalized subsequent to acquisition					2,886,000
Gross amount at which carried at close of period [Abstract]
Land					980,000
Buildings & Improvements					8,423,000
Total		9,403,000			9,403,000
Accumulated Depreciation		$ (2,408,000)			(2,408,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,403,000
Deductions during year [Abstract]
Balance at close of year		2,408,000
Discontinued Operations [Member] | 7800 West Brown Deer Road - Milwaukee, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					10,320,000
Initial Cost to Company [Abstract]
Land					1,455,000
Buildings & Improvements					8,756,000
Costs capitalized subsequent to acquisition					2,431,000
Gross amount at which carried at close of period [Abstract]
Land					1,475,000
Buildings & Improvements					11,167,000
Total		12,642,000			12,642,000
Accumulated Depreciation		$ (4,022,000)			(4,022,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,642,000
Deductions during year [Abstract]
Balance at close of year		4,022,000
Discontinued Operations [Member] | American Corporate Center - Mendota Heights, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					8,670,000
Initial Cost to Company [Abstract]
Land					893,000
Buildings & Improvements					16,768,000
Costs capitalized subsequent to acquisition					4,067,000
Gross amount at which carried at close of period [Abstract]
Land					893,000
Buildings & Improvements					20,835,000
Total		21,728,000			21,728,000
Accumulated Depreciation		$ (8,926,000)			(8,926,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,728,000
Deductions during year [Abstract]
Balance at close of year		8,926,000
Discontinued Operations [Member] | Ameritrade - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,020,000
Initial Cost to Company [Abstract]
Land					327,000
Buildings & Improvements					7,957,000
Costs capitalized subsequent to acquisition					65,000
Gross amount at which carried at close of period [Abstract]
Land					327,000
Buildings & Improvements					8,022,000
Total		8,349,000			8,349,000
Accumulated Depreciation		$ (3,215,000)			(3,215,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,349,000
Deductions during year [Abstract]
Balance at close of year		3,215,000
Discontinued Operations [Member] | Benton Business Park - Sauk Rapids, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					188,000
Buildings & Improvements					1,261,000
Costs capitalized subsequent to acquisition					87,000
Gross amount at which carried at close of period [Abstract]
Land					188,000
Buildings & Improvements					1,348,000
Total		1,536,000			1,536,000
Accumulated Depreciation		$ (429,000)			(429,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,536,000
Deductions during year [Abstract]
Balance at close of year		429,000
Discontinued Operations [Member] | Brenwood - Minnetonka, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					1,642,000
Buildings & Improvements					12,138,000
Costs capitalized subsequent to acquisition					3,864,000
Gross amount at which carried at close of period [Abstract]
Land					1,650,000
Buildings & Improvements					15,994,000
Total		17,644,000			17,644,000
Accumulated Depreciation		$ (5,810,000)			(5,810,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 17,644,000
Deductions during year [Abstract]
Balance at close of year		5,810,000
Discontinued Operations [Member] | Brook Valley I - La Vista, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,209,000
Initial Cost to Company [Abstract]
Land					347,000
Buildings & Improvements					1,671,000
Costs capitalized subsequent to acquisition					134,000
Gross amount at which carried at close of period [Abstract]
Land					347,000
Buildings & Improvements					1,805,000
Total		2,152,000			2,152,000
Accumulated Depreciation		$ (458,000)			(458,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,152,000
Deductions during year [Abstract]
Balance at close of year		458,000
Discontinued Operations [Member] | Corporate Center West - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					17,315,000
Initial Cost to Company [Abstract]
Land					3,880,000
Buildings & Improvements					5,253,000
Costs capitalized subsequent to acquisition					21,000
Gross amount at which carried at close of period [Abstract]
Land					3,880,000
Buildings & Improvements					5,274,000
Total		9,154,000			9,154,000
Accumulated Depreciation		$ (126,000)			(126,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,154,000
Deductions during year [Abstract]
Balance at close of year		126,000
Discontinued Operations [Member] | Crosstown Centre - Eden Prairie, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					9,000,000
Initial Cost to Company [Abstract]
Land					2,884,000
Buildings & Improvements					14,569,000
Costs capitalized subsequent to acquisition					3,183,000
Gross amount at which carried at close of period [Abstract]
Land					2,980,000
Buildings & Improvements					17,656,000
Total		20,636,000			20,636,000
Accumulated Depreciation		$ (4,939,000)			(4,939,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 20,636,000
Deductions during year [Abstract]
Balance at close of year		4,939,000
Discontinued Operations [Member] | Eden Prairie 6101 Blue Circle Dr - Eden Prairie [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					666,000
Buildings & Improvements					4,197,000
Costs capitalized subsequent to acquisition					1,000
Gross amount at which carried at close of period [Abstract]
Land					666,000
Buildings & Improvements					4,198,000
Total		4,864,000			4,864,000
Accumulated Depreciation		$ (1,701,000)			(1,701,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,864,000
Deductions during year [Abstract]
Balance at close of year		1,701,000
Discontinued Operations [Member] | Farnam Executive Center - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,160,000
Initial Cost to Company [Abstract]
Land					2,188,000
Buildings & Improvements					7,912,000
Costs capitalized subsequent to acquisition					1,000
Gross amount at which carried at close of period [Abstract]
Land					2,188,000
Buildings & Improvements					7,913,000
Total		10,101,000			10,101,000
Accumulated Depreciation		$ (190,000)			(190,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,101,000
Deductions during year [Abstract]
Balance at close of year		190,000
Discontinued Operations [Member] | Flagship - Eden Prairie, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					21,565,000
Initial Cost to Company [Abstract]
Land					1,899,000
Buildings & Improvements					15,518,000
Costs capitalized subsequent to acquisition					31,000
Gross amount at which carried at close of period [Abstract]
Land					1,913,000
Buildings & Improvements					15,535,000
Total		17,448,000			17,448,000
Accumulated Depreciation		$ (373,000)			(373,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 17,448,000
Deductions during year [Abstract]
Balance at close of year		373,000
Discontinued Operations [Member] | Gateway Corporate Center - Woodbury, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					8,700,000
Initial Cost to Company [Abstract]
Land					1,637,000
Buildings & Improvements					6,663,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,637,000
Buildings & Improvements					6,663,000
Total		8,300,000			8,300,000
Accumulated Depreciation		$ (160,000)			(160,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,300,000
Deductions during year [Abstract]
Balance at close of year		160,000
Discontinued Operations [Member] | Golden Hills Office Center - Golden Valley, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					17,417,000
Initial Cost to Company [Abstract]
Land					3,018,000
Buildings & Improvements					18,544,000
Costs capitalized subsequent to acquisition					4,313,000
Gross amount at which carried at close of period [Abstract]
Land					3,018,000
Buildings & Improvements					22,857,000
Total		25,875,000			25,875,000
Accumulated Depreciation		$ (8,851,000)			(8,851,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 25,875,000
Deductions during year [Abstract]
Balance at close of year		8,851,000
Discontinued Operations [Member] | Granite Corporate Center - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,313,000
Initial Cost to Company [Abstract]
Land					588,000
Buildings & Improvements					7,808,000
Costs capitalized subsequent to acquisition					1,521,000
Gross amount at which carried at close of period [Abstract]
Land					740,000
Buildings & Improvements					9,177,000
Total		9,917,000			9,917,000
Accumulated Depreciation		$ (3,524,000)			(3,524,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,917,000
Deductions during year [Abstract]
Balance at close of year		3,524,000
Discontinued Operations [Member] | Great Plains - Fargo, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					126,000
Buildings & Improvements					15,240,000
Costs capitalized subsequent to acquisition					721,000
Gross amount at which carried at close of period [Abstract]
Land					126,000
Buildings & Improvements					15,961,000
Total		16,087,000			16,087,000
Accumulated Depreciation		$ (6,161,000)			(6,161,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 16,087,000
Deductions during year [Abstract]
Balance at close of year		6,161,000
Discontinued Operations [Member] | Highlands Ranch I - Highlands Ranch, CO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					2,268,000
Buildings & Improvements					8,362,000
Costs capitalized subsequent to acquisition					1,117,000
Gross amount at which carried at close of period [Abstract]
Land					2,268,000
Buildings & Improvements					9,479,000
Total		11,747,000			11,747,000
Accumulated Depreciation		$ (2,211,000)			(2,211,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,747,000
Deductions during year [Abstract]
Balance at close of year		2,211,000
Discontinued Operations [Member] | Highlands Ranch II - Highlands Ranch, CO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					1,437,000
Buildings & Improvements					9,549,000
Costs capitalized subsequent to acquisition					1,901,000
Gross amount at which carried at close of period [Abstract]
Land					1,437,000
Buildings & Improvements					11,450,000
Total		12,887,000			12,887,000
Accumulated Depreciation		$ (3,391,000)			(3,391,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,887,000
Deductions during year [Abstract]
Balance at close of year		3,391,000
Discontinued Operations [Member] | Interlachen Corporate Center - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					8,800,000
Initial Cost to Company [Abstract]
Land					1,650,000
Buildings & Improvements					14,983,000
Costs capitalized subsequent to acquisition					2,530,000
Gross amount at which carried at close of period [Abstract]
Land					1,693,000
Buildings & Improvements					17,470,000
Total		19,163,000			19,163,000
Accumulated Depreciation		$ (6,389,000)			(6,389,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 19,163,000
Deductions during year [Abstract]
Balance at close of year		6,389,000
Discontinued Operations [Member] | Intertech Building - Fenton, MO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,177,000
Initial Cost to Company [Abstract]
Land					2,130,000
Buildings & Improvements					3,968,000
Costs capitalized subsequent to acquisition					1,721,000
Gross amount at which carried at close of period [Abstract]
Land					2,191,000
Buildings & Improvements					5,628,000
Total		7,819,000			7,819,000
Accumulated Depreciation		$ (1,253,000)			(1,253,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,819,000
Deductions during year [Abstract]
Balance at close of year		1,253,000
Discontinued Operations [Member] | Mendota Office Center I - Mendota Heights, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,734,000
Initial Cost to Company [Abstract]
Land					835,000
Buildings & Improvements					6,169,000
Costs capitalized subsequent to acquisition					1,402,000
Gross amount at which carried at close of period [Abstract]
Land					835,000
Buildings & Improvements					7,571,000
Total		8,406,000			8,406,000
Accumulated Depreciation		$ (2,683,000)			(2,683,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,406,000
Deductions during year [Abstract]
Balance at close of year		2,683,000
Discontinued Operations [Member] | Mendota Office Center II - Mendota Heights, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,516,000
Initial Cost to Company [Abstract]
Land					1,121,000
Buildings & Improvements					10,085,000
Costs capitalized subsequent to acquisition					2,097,000
Gross amount at which carried at close of period [Abstract]
Land					1,121,000
Buildings & Improvements					12,182,000
Total		13,303,000			13,303,000
Accumulated Depreciation		$ (4,882,000)			(4,882,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,303,000
Deductions during year [Abstract]
Balance at close of year		4,882,000
Discontinued Operations [Member] | Mendota Office Center III - Mendota Heights, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,791,000
Initial Cost to Company [Abstract]
Land					970,000
Buildings & Improvements					5,734,000
Costs capitalized subsequent to acquisition					957,000
Gross amount at which carried at close of period [Abstract]
Land					970,000
Buildings & Improvements					6,691,000
Total		7,661,000			7,661,000
Accumulated Depreciation		$ (2,419,000)			(2,419,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,661,000
Deductions during year [Abstract]
Balance at close of year		2,419,000
Discontinued Operations [Member] | Mendota Office Center IV - Mendota Heights, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,507,000
Initial Cost to Company [Abstract]
Land					1,070,000
Buildings & Improvements					7,635,000
Costs capitalized subsequent to acquisition					1,510,000
Gross amount at which carried at close of period [Abstract]
Land					1,070,000
Buildings & Improvements					9,145,000
Total		10,215,000			10,215,000
Accumulated Depreciation		$ (3,235,000)			(3,235,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,215,000
Deductions during year [Abstract]
Balance at close of year		3,235,000
Discontinued Operations [Member] | Minnesota National Bank - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					628,000
Initial Cost to Company [Abstract]
Land					287,000
Buildings & Improvements					1,454,000
Costs capitalized subsequent to acquisition					224,000
Gross amount at which carried at close of period [Abstract]
Land					288,000
Buildings & Improvements					1,677,000
Total		1,965,000			1,965,000
Accumulated Depreciation		$ (475,000)			(475,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,965,000
Deductions during year [Abstract]
Balance at close of year		475,000
Discontinued Operations [Member] | Miracle Hills One - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					8,895,000
Initial Cost to Company [Abstract]
Land					1,974,000
Buildings & Improvements					5,726,000
Costs capitalized subsequent to acquisition					6,000
Gross amount at which carried at close of period [Abstract]
Land					1,974,000
Buildings & Improvements					5,732,000
Total		7,706,000			7,706,000
Accumulated Depreciation		$ (139,000)			(139,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,706,000
Deductions during year [Abstract]
Balance at close of year		139,000
Discontinued Operations [Member] | Northpark Corporate Center - Arden Hills, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					11,519,000
Initial Cost to Company [Abstract]
Land					2,034,000
Buildings & Improvements					14,584,000
Costs capitalized subsequent to acquisition					2,497,000
Gross amount at which carried at close of period [Abstract]
Land					2,037,000
Buildings & Improvements					17,078,000
Total		19,115,000			19,115,000
Accumulated Depreciation		$ (4,231,000)			(4,231,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 19,115,000
Deductions during year [Abstract]
Balance at close of year		4,231,000
Discontinued Operations [Member] | Omaha 10802 Farnam Dr - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,061,000
Initial Cost to Company [Abstract]
Land					2,462,000
Buildings & Improvements					4,374,000
Costs capitalized subsequent to acquisition					392,000
Gross amount at which carried at close of period [Abstract]
Land					2,818,000
Buildings & Improvements					4,410,000
Total		7,228,000			7,228,000
Accumulated Depreciation		$ (525,000)			(525,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,228,000
Deductions during year [Abstract]
Balance at close of year		525,000
Discontinued Operations [Member] | Pacific Hills - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					16,770,000
Initial Cost to Company [Abstract]
Land					4,220,000
Buildings & Improvements					6,280,000
Costs capitalized subsequent to acquisition					243,000
Gross amount at which carried at close of period [Abstract]
Land					4,220,000
Buildings & Improvements					6,523,000
Total		10,743,000			10,743,000
Accumulated Depreciation		$ (180,000)			(180,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,743,000
Deductions during year [Abstract]
Balance at close of year		180,000
Discontinued Operations [Member] | Plaza VII - Boise, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					300,000
Buildings & Improvements					913,000
Costs capitalized subsequent to acquisition					4,000
Gross amount at which carried at close of period [Abstract]
Land					300,000
Buildings & Improvements					917,000
Total		1,217,000			1,217,000
Accumulated Depreciation		$ (11,000)			(11,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,217,000
Deductions during year [Abstract]
Balance at close of year		11,000
Discontinued Operations [Member] | Plymouth 5095 Nathan Lane - Plymouth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,147,000
Initial Cost to Company [Abstract]
Land					604,000
Buildings & Improvements					1,253,000
Costs capitalized subsequent to acquisition					87,000
Gross amount at which carried at close of period [Abstract]
Land					636,000
Buildings & Improvements					1,308,000
Total		1,944,000			1,944,000
Accumulated Depreciation		$ (258,000)			(258,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,944,000
Deductions during year [Abstract]
Balance at close of year		258,000
Discontinued Operations [Member] | Prairie Oak Business Center - Eden Prairie, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,120,000
Initial Cost to Company [Abstract]
Land					531,000
Buildings & Improvements					4,069,000
Costs capitalized subsequent to acquisition					2,523,000
Gross amount at which carried at close of period [Abstract]
Land					1,030,000
Buildings & Improvements					6,093,000
Total		7,123,000			7,123,000
Accumulated Depreciation		$ (2,365,000)			(2,365,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,123,000
Deductions during year [Abstract]
Balance at close of year		2,365,000
Discontinued Operations [Member] | Rapid City 900 Concourse Drive - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					181,000
Initial Cost to Company [Abstract]
Land					285,000
Buildings & Improvements					6,600,000
Costs capitalized subsequent to acquisition					1,151,000
Gross amount at which carried at close of period [Abstract]
Land					514,000
Buildings & Improvements					7,522,000
Total		8,036,000			8,036,000
Accumulated Depreciation		$ (2,912,000)			(2,912,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,036,000
Deductions during year [Abstract]
Balance at close of year		2,912,000
Discontinued Operations [Member] | Riverport - Maryland Heights, MO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					19,690,000
Initial Cost to Company [Abstract]
Land					1,891,000
Buildings & Improvements					6,109,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,891,000
Buildings & Improvements					6,109,000
Total		8,000,000			8,000,000
Accumulated Depreciation		$ (146,000)			(146,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,000,000
Deductions during year [Abstract]
Balance at close of year		146,000
Discontinued Operations [Member] | Spring Valley IV - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					720,000
Initial Cost to Company [Abstract]
Land					178,000
Buildings & Improvements					916,000
Costs capitalized subsequent to acquisition					60,000
Gross amount at which carried at close of period [Abstract]
Land					186,000
Buildings & Improvements					968,000
Total		1,154,000			1,154,000
Accumulated Depreciation		$ (259,000)			(259,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,154,000
Deductions during year [Abstract]
Balance at close of year		259,000
Discontinued Operations [Member] | Spring Valley V - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					792,000
Initial Cost to Company [Abstract]
Land					212,000
Buildings & Improvements					1,123,000
Costs capitalized subsequent to acquisition					251,000
Gross amount at which carried at close of period [Abstract]
Land					240,000
Buildings & Improvements					1,346,000
Total		1,586,000			1,586,000
Accumulated Depreciation		$ (388,000)			(388,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,586,000
Deductions during year [Abstract]
Balance at close of year		388,000
Discontinued Operations [Member] | Spring Valley X - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					734,000
Initial Cost to Company [Abstract]
Land					180,000
Buildings & Improvements					1,024,000
Costs capitalized subsequent to acquisition					80,000
Gross amount at which carried at close of period [Abstract]
Land					189,000
Buildings & Improvements					1,095,000
Total		1,284,000			1,284,000
Accumulated Depreciation		$ (282,000)			(282,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,284,000
Deductions during year [Abstract]
Balance at close of year		282,000
Discontinued Operations [Member] | Spring Valley XI - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					720,000
Initial Cost to Company [Abstract]
Land					143,000
Buildings & Improvements					1,094,000
Costs capitalized subsequent to acquisition					36,000
Gross amount at which carried at close of period [Abstract]
Land					151,000
Buildings & Improvements					1,122,000
Total		1,273,000			1,273,000
Accumulated Depreciation		$ (276,000)			(276,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,273,000
Deductions during year [Abstract]
Balance at close of year		276,000
Discontinued Operations [Member] | Superior Office Building - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					944,000
Initial Cost to Company [Abstract]
Land					336,000
Buildings & Improvements					2,200,000
Costs capitalized subsequent to acquisition					143,000
Gross amount at which carried at close of period [Abstract]
Land					336,000
Buildings & Improvements					2,343,000
Total		2,679,000			2,679,000
Accumulated Depreciation		$ (688,000)			(688,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,679,000
Deductions during year [Abstract]
Balance at close of year		688,000
Discontinued Operations [Member] | TCA Building - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,500,000
Initial Cost to Company [Abstract]
Land					627,000
Buildings & Improvements					8,571,000
Costs capitalized subsequent to acquisition					915,000
Gross amount at which carried at close of period [Abstract]
Land					684,000
Buildings & Improvements					9,429,000
Total		10,113,000			10,113,000
Accumulated Depreciation		$ (2,767,000)			(2,767,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,113,000
Deductions during year [Abstract]
Balance at close of year		2,767,000
Discontinued Operations [Member] | Three Paramount Plaza - Bloomington, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					1,261,000
Buildings & Improvements					6,149,000
Costs capitalized subsequent to acquisition					1,961,000
Gross amount at which carried at close of period [Abstract]
Land					1,482,000
Buildings & Improvements					7,889,000
Total		9,371,000			9,371,000
Accumulated Depreciation		$ (3,085,000)			(3,085,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,371,000
Deductions during year [Abstract]
Balance at close of year		3,085,000
Discontinued Operations [Member] | Timberlands - Leawood, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,315,000
Initial Cost to Company [Abstract]
Land					2,375,000
Buildings & Improvements					9,601,000
Costs capitalized subsequent to acquisition					189,000
Gross amount at which carried at close of period [Abstract]
Land					2,375,000
Buildings & Improvements					9,790,000
Total		12,165,000			12,165,000
Accumulated Depreciation		$ (242,000)			(242,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,165,000
Deductions during year [Abstract]
Balance at close of year		242,000
Discontinued Operations [Member] | UHC Office - International Falls, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					800,000
Initial Cost to Company [Abstract]
Land					119,000
Buildings & Improvements					2,366,000
Costs capitalized subsequent to acquisition					230,000
Gross amount at which carried at close of period [Abstract]
Land					119,000
Buildings & Improvements					2,596,000
Total		2,715,000			2,715,000
Accumulated Depreciation		$ (734,000)			(734,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,715,000
Deductions during year [Abstract]
Balance at close of year		734,000
Discontinued Operations [Member] | US Bank Financial Center - Bloomington, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,766,000
Initial Cost to Company [Abstract]
Land					3,117,000
Buildings & Improvements					13,350,000
Costs capitalized subsequent to acquisition					2,023,000
Gross amount at which carried at close of period [Abstract]
Land					3,195,000
Buildings & Improvements					15,295,000
Total		18,490,000			18,490,000
Accumulated Depreciation		$ (3,805,000)			(3,805,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 18,490,000
Deductions during year [Abstract]
Balance at close of year		3,805,000
Discontinued Operations [Member] | Wells Fargo Center - St Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					5,787,000
Initial Cost to Company [Abstract]
Land					869,000
Buildings & Improvements					8,373,000
Costs capitalized subsequent to acquisition					1,956,000
Gross amount at which carried at close of period [Abstract]
Land					884,000
Buildings & Improvements					10,314,000
Total		11,198,000			11,198,000
Accumulated Depreciation		$ (2,641,000)			(2,641,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,198,000
Deductions during year [Abstract]
Balance at close of year		2,641,000
Discontinued Operations [Member] | West River Business Park - Waite Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					235,000
Buildings & Improvements					1,195,000
Costs capitalized subsequent to acquisition					267,000
Gross amount at which carried at close of period [Abstract]
Land					235,000
Buildings & Improvements					1,462,000
Total		1,697,000			1,697,000
Accumulated Depreciation		$ (430,000)			(430,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,697,000
Deductions during year [Abstract]
Balance at close of year		430,000
Discontinued Operations [Member] | Westgate - Boise, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					3,844,000
Initial Cost to Company [Abstract]
Land					1,000,000
Buildings & Improvements					10,618,000
Costs capitalized subsequent to acquisition					1,933,000
Gross amount at which carried at close of period [Abstract]
Land					1,000,000
Buildings & Improvements					12,551,000
Total		13,551,000			13,551,000
Accumulated Depreciation		$ (4,512,000)			(4,512,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,551,000
Deductions during year [Abstract]
Balance at close of year		4,512,000
Discontinued Operations [Member] | Woodlands Plaza IV - Maryland Heights, MO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					4,360,000
Initial Cost to Company [Abstract]
Land					771,000
Buildings & Improvements					4,609,000
Costs capitalized subsequent to acquisition					1,461,000
Gross amount at which carried at close of period [Abstract]
Land					862,000
Buildings & Improvements					5,979,000
Total		6,841,000			6,841,000
Accumulated Depreciation		$ (1,501,000)			(1,501,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,841,000
Deductions during year [Abstract]
Balance at close of year		1,501,000
Discontinued Operations [Member] | Barry Pointe Office Park - Kansas City, MO [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,369,000
Initial Cost to Company [Abstract]
Land					384,000
Buildings & Improvements					2,366,000
Costs capitalized subsequent to acquisition					226,000
Gross amount at which carried at close of period [Abstract]
Land					392,000
Buildings & Improvements					2,584,000
Total		2,976,000			2,976,000
Accumulated Depreciation		$ (547,000)			(547,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,976,000
Deductions during year [Abstract]
Balance at close of year		547,000
Discontinued Operations [Member] | Burnsville 1 Strip Center - Burnsville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					208,000
Buildings & Improvements					773,000
Costs capitalized subsequent to acquisition					200,000
Gross amount at which carried at close of period [Abstract]
Land					208,000
Buildings & Improvements					973,000
Total		1,181,000			1,181,000
Accumulated Depreciation		$ (306,000)			(306,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,181,000
Deductions during year [Abstract]
Balance at close of year		306,000
Discontinued Operations [Member] | Champlin South Pond - Champlin, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,185,000
Initial Cost to Company [Abstract]
Land					842,000
Buildings & Improvements					2,703,000
Costs capitalized subsequent to acquisition					105,000
Gross amount at which carried at close of period [Abstract]
Land					866,000
Buildings & Improvements					2,784,000
Total		3,650,000			3,650,000
Accumulated Depreciation		$ (797,000)			(797,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,650,000
Deductions during year [Abstract]
Balance at close of year		797,000
Discontinued Operations [Member] | Chan West Village - Chanhassen, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					12,307,000
Initial Cost to Company [Abstract]
Land					5,035,000
Buildings & Improvements					14,665,000
Costs capitalized subsequent to acquisition					2,079,000
Gross amount at which carried at close of period [Abstract]
Land					5,679,000
Buildings & Improvements					16,100,000
Total		21,779,000			21,779,000
Accumulated Depreciation		$ (5,215,000)			(5,215,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,779,000
Deductions during year [Abstract]
Balance at close of year		5,215,000
Discontinued Operations [Member] | Duluth 4615 Grand - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					544,000
Initial Cost to Company [Abstract]
Land					130,000
Buildings & Improvements					1,800,000
Costs capitalized subsequent to acquisition					156,000
Gross amount at which carried at close of period [Abstract]
Land					131,000
Buildings & Improvements					1,955,000
Total		2,086,000			2,086,000
Accumulated Depreciation		$ (499,000)			(499,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,086,000
Deductions during year [Abstract]
Balance at close of year		499,000
Discontinued Operations [Member] | Duluth Denfeld Retail - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,798,000
Initial Cost to Company [Abstract]
Land					276,000
Buildings & Improvements					4,699,000
Costs capitalized subsequent to acquisition					185,000
Gross amount at which carried at close of period [Abstract]
Land					297,000
Buildings & Improvements					4,863,000
Total		5,160,000			5,160,000
Accumulated Depreciation		$ (1,380,000)			(1,380,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,160,000
Deductions during year [Abstract]
Balance at close of year		1,380,000
Discontinued Operations [Member] | Forest Lake Auto - Forest Lake, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					50,000
Buildings & Improvements					446,000
Costs capitalized subsequent to acquisition					13,000
Gross amount at which carried at close of period [Abstract]
Land					50,000
Buildings & Improvements					459,000
Total		509,000			509,000
Accumulated Depreciation		$ (143,000)			(143,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 509,000
Deductions during year [Abstract]
Balance at close of year		143,000
Discontinued Operations [Member] | Forest Lake Westlake Center - Forest Lake, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					2,446,000
Buildings & Improvements					5,304,000
Costs capitalized subsequent to acquisition					1,747,000
Gross amount at which carried at close of period [Abstract]
Land					2,480,000
Buildings & Improvements					7,017,000
Total		9,497,000			9,497,000
Accumulated Depreciation		$ (1,830,000)			(1,830,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,497,000
Deductions during year [Abstract]
Balance at close of year		1,830,000
Discontinued Operations [Member] | Grand Forks Medpark Mall - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					681,000
Buildings & Improvements					4,808,000
Costs capitalized subsequent to acquisition					231,000
Gross amount at which carried at close of period [Abstract]
Land					722,000
Buildings & Improvements					4,998,000
Total		5,720,000			5,720,000
Accumulated Depreciation		$ (1,924,000)			(1,924,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,720,000
Deductions during year [Abstract]
Balance at close of year		1,924,000
Discontinued Operations [Member] | Jamestown Buffalo Mall - Jamestown, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,717,000
Initial Cost to Company [Abstract]
Land					566,000
Buildings & Improvements					5,551,000
Costs capitalized subsequent to acquisition					2,975,000
Gross amount at which carried at close of period [Abstract]
Land					1,114,000
Buildings & Improvements					7,978,000
Total		9,092,000			9,092,000
Accumulated Depreciation		$ (1,996,000)			(1,996,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,092,000
Deductions during year [Abstract]
Balance at close of year		1,996,000
Discontinued Operations [Member] | Jamestown Business Center - Jamestown, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					327,000
Initial Cost to Company [Abstract]
Land					297,000
Buildings & Improvements					1,023,000
Costs capitalized subsequent to acquisition					1,312,000
Gross amount at which carried at close of period [Abstract]
Land					333,000
Buildings & Improvements					2,299,000
Total		2,632,000			2,632,000
Accumulated Depreciation		$ (965,000)			(965,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,632,000
Deductions during year [Abstract]
Balance at close of year		965,000
Discontinued Operations [Member] | Lakeville Strip Center - Lakeville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					46,000
Buildings & Improvements					1,142,000
Costs capitalized subsequent to acquisition					955,000
Gross amount at which carried at close of period [Abstract]
Land					94,000
Buildings & Improvements					2,049,000
Total		2,143,000			2,143,000
Accumulated Depreciation		$ (726,000)			(726,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,143,000
Deductions during year [Abstract]
Balance at close of year		726,000
Discontinued Operations [Member] | Monticello C Store - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					65,000
Buildings & Improvements					770,000
Costs capitalized subsequent to acquisition					37,000
Gross amount at which carried at close of period [Abstract]
Land					97,000
Buildings & Improvements					775,000
Total		872,000			872,000
Accumulated Depreciation		$ (247,000)			(247,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 872,000
Deductions during year [Abstract]
Balance at close of year		247,000
Discontinued Operations [Member] | Omaha Barnes & Noble - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					600,000
Buildings & Improvements					3,099,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					600,000
Buildings & Improvements					3,099,000
Total		3,699,000			3,699,000
Accumulated Depreciation		$ (1,511,000)			(1,511,000)
Date of Construction or Acquisition		1,995
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,699,000
Deductions during year [Abstract]
Balance at close of year		1,511,000
Discontinued Operations [Member] | Pine City C-Store - Pine City, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					83,000
Buildings & Improvements					357,000
Costs capitalized subsequent to acquisition					12,000
Gross amount at which carried at close of period [Abstract]
Land					83,000
Buildings & Improvements					369,000
Total		452,000			452,000
Accumulated Depreciation		$ (118,000)			(118,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 452,000
Deductions during year [Abstract]
Balance at close of year		118,000
Discontinued Operations [Member] | Pine City Evergreen Square - Pine City, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					154,000
Buildings & Improvements					2,646,000
Costs capitalized subsequent to acquisition					1,334,000
Gross amount at which carried at close of period [Abstract]
Land					385,000
Buildings & Improvements					3,749,000
Total		4,134,000			4,134,000
Accumulated Depreciation		$ (1,104,000)			(1,104,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,134,000
Deductions during year [Abstract]
Balance at close of year		1,104,000
Discontinued Operations [Member] | Rochester Maplewood Square - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					6,325,000
Initial Cost to Company [Abstract]
Land					3,275,000
Buildings & Improvements					8,610,000
Costs capitalized subsequent to acquisition					2,155,000
Gross amount at which carried at close of period [Abstract]
Land					3,652,000
Buildings & Improvements					10,388,000
Total		14,040,000			14,040,000
Accumulated Depreciation		$ (3,936,000)			(3,936,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,040,000
Deductions during year [Abstract]
Balance at close of year		3,936,000
Discontinued Operations [Member] | St. Cloud Westgate - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					885,000
Buildings & Improvements					5,535,000
Costs capitalized subsequent to acquisition					1,396,000
Gross amount at which carried at close of period [Abstract]
Land					1,002,000
Buildings & Improvements					6,814,000
Total		7,816,000			7,816,000
Accumulated Depreciation		$ (1,827,000)			(1,827,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,816,000
Deductions during year [Abstract]
Balance at close of year		1,827,000
Wholly Owned Properties [Member]
Gross amount at which carried at close of period [Abstract]
Total		1,450,216,000	$ 1,450,216,000	$ 1,303,393,000	1,546,367,000	1,450,216,000	1,435,574,000
Accumulated Depreciation		(302,405,000)	(302,405,000)	(258,809,000)	(313,308,000)	(302,405,000)	(289,624,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at beginning of year		1,450,216,000	1,435,574,000	1,303,393,000
Improvements and Other		22,665,000	24,619,000	27,037,000
Total Additions		1,668,218,000	1,562,315,000	1,462,551,000
Cost of real estate sold		(15,719,000)	(85,030,000)	(21,953,000)
Impairment charge		(1,566,000)	(8,322,000)	(305,000)
Write down of asset and accumulated depreciation on impaired assets		(881,000)	(6,291,000)	0
Transfers		(97,824,000)	(10,307,000)	(1,893,000)
Other	[3]	(5,861,000)	(2,149,000)	(2,826,000)
Balance at close of year		1,546,367,000	1,450,216,000	1,435,574,000
Reconciliations of accumulated depreciation/amortization [Abstract]
Balance at beginning of year		302,405,000	289,624,000	258,809,000
Additions during year [Abstract]
Provisions for depreciation		45,498,000	40,450,000	40,032,000
Deductions during year [Abstract]
Accumulated depreciation on real estate sold		(29,463,000)	(19,413,000)	(6,444,000)
Write down of asset and accumulated depreciation on impaired assets		(881,000)	(6,291,000)	0
Other	[3]	(4,251,000)	(1,965,000)	(2,773,000)
Balance at close of year		313,308,000	302,405,000	289,624,000
Development in Progress [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					11,789,000
Buildings & Improvements					125,872,000
Costs capitalized subsequent to acquisition					16,333,000
Gross amount at which carried at close of period [Abstract]
Land					11,789,000
Buildings & Improvements					142,205,000
Total		153,994,000	104,609,000	27,599,000	153,994,000	104,609,000	46,782,000
Accumulated Depreciation		0			0
Reconciliations of total real estate carrying value [Abstract]
Balance at beginning of year		104,609,000	46,782,000	27,599,000
Acquisitions		12,647,000	2,079,000	9,177,000
Improvements and Other		189,306,000	123,240,000	52,970,000
Involuntary conversion		0	(7,052,000)	0
Transfers		7,015,000	2,870,000	0
Development placed in service	[4]	(159,578,000)	(63,210,000)	(42,964,000)
Other	[5]	(5,000)	(100,000)	0
Balance at close of year		153,994,000	104,609,000	46,782,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | 71 France - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					4,721,000
Buildings & Improvements					27,655,000
Costs capitalized subsequent to acquisition					2,761,000
Gross amount at which carried at close of period [Abstract]
Land					4,721,000
Buildings & Improvements					30,416,000
Total		35,137,000			35,137,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 35,137,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Cardinal Point - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,600,000
Buildings & Improvements					21,455,000
Costs capitalized subsequent to acquisition					3,395,000
Gross amount at which carried at close of period [Abstract]
Land					1,600,000
Buildings & Improvements					24,850,000
Total		26,450,000			26,450,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 26,450,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Chateau II - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					240,000
Buildings & Improvements					12,080,000
Costs capitalized subsequent to acquisition					809,000
Gross amount at which carried at close of period [Abstract]
Land					240,000
Buildings & Improvements					12,889,000
Total		13,129,000			13,129,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,129,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Deer Ridge - Jamestown, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					711,000
Buildings & Improvements					13,580,000
Costs capitalized subsequent to acquisition					1,064,000
Gross amount at which carried at close of period [Abstract]
Land					711,000
Buildings & Improvements					14,644,000
Total		15,355,000			15,355,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 15,355,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Edina 6565 France SMC III - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					20,799,000
Costs capitalized subsequent to acquisition					1,750,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					22,549,000
Total		22,549,000			22,549,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 22,549,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Minot Southgate Retail - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					889,000
Buildings & Improvements					1,199,000
Costs capitalized subsequent to acquisition					76,000
Gross amount at which carried at close of period [Abstract]
Land					889,000
Buildings & Improvements					1,275,000
Total		2,164,000			2,164,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,164,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Other [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					402,000
Buildings & Improvements					3,233,000
Costs capitalized subsequent to acquisition					2,983,000
Gross amount at which carried at close of period [Abstract]
Land					402,000
Buildings & Improvements					6,216,000
Total		6,618,000			6,618,000
Accumulated Depreciation		0			0
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		6,618,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | PrairieCare Medical - Brooklyn Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					2,610,000
Buildings & Improvements					14,715,000
Costs capitalized subsequent to acquisition					2,132,000
Gross amount at which carried at close of period [Abstract]
Land					2,610,000
Buildings & Improvements					16,847,000
Total		19,457,000			19,457,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 19,457,000
Deductions during year [Abstract]
Balance at close of year		0
Development in Progress [Member] | Renaissance Heights - Williston ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					616,000
Buildings & Improvements					11,156,000
Costs capitalized subsequent to acquisition					1,363,000
Gross amount at which carried at close of period [Abstract]
Land					616,000
Buildings & Improvements					12,519,000
Total		13,135,000			13,135,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,135,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					23,564,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					2,263,000
Gross amount at which carried at close of period [Abstract]
Land					25,827,000
Buildings & Improvements					0
Total		25,827,000	21,503,000	21,503,000	25,827,000	$ 22,864,000	$ 21,503,000
Accumulated Depreciation		0			0
Reconciliations of total real estate carrying value [Abstract]
Balance at beginning of year		22,864,000	21,503,000	10,990,000
Acquisitions		10,487,000	3,022,000	13,329,000
Improvements and Other		1,533,000	1,209,000	854,000
Cost of real estate sold		(670,000)	0	0
Impairment charge		(1,293,000)	0	0
Transfers		(79,000)	0	0
Balance at close of year		25,827,000	22,864,000	21,503,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Legends at Heritage Place - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					537,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					537,000
Buildings & Improvements					0
Total		537,000			537,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 537,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Spring Creek Fruitland - Fruitland, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					339,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					339,000
Buildings & Improvements					0
Total		339,000			339,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 339,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Badger Hills - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,050,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,050,000
Buildings & Improvements					0
Total		1,050,000			1,050,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,012
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,050,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Bismarck 4916 - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					3,250,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					3,250,000
Buildings & Improvements					0
Total		3,250,000			3,250,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,013
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,250,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Bismarck 700 E Main - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					314,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					565,000
Gross amount at which carried at close of period [Abstract]
Land					879,000
Buildings & Improvements					0
Total		879,000			879,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,008
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 879,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Creekside Crossing - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					4,286,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					4,286,000
Buildings & Improvements					0
Total		4,286,000			4,286,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,286,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Georgetown Square - Grand Chute, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,860,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,860,000
Buildings & Improvements					0
Total		1,860,000			1,860,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,006
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,860,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Grand Forks Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					4,278,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					4,278,000
Buildings & Improvements					0
Total		4,278,000			4,278,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,012
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,278,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Isanti Unimproved - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					58,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					58,000
Buildings & Improvements					0
Total		58,000			58,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 58,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Minot 1525 24th Ave SW - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,262,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,262,000
Buildings & Improvements					0
Total		1,262,000			1,262,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,262,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Monticello - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					115,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					3,000
Gross amount at which carried at close of period [Abstract]
Land					118,000
Buildings & Improvements					0
Total		118,000			118,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,006
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 118,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Monticello 7th Addition - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,734,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,734,000
Buildings & Improvements					0
Total		1,734,000			1,734,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,734,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Rapid City Unimproved- Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,376,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					1,376,000
Buildings & Improvements					0
Total		1,376,000			1,376,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,014
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,376,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Renaissance Heights - Williston ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					2,229,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					1,581,000
Gross amount at which carried at close of period [Abstract]
Land					3,810,000
Buildings & Improvements					0
Total		3,810,000			3,810,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,012
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,810,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | River Falls - River Falls, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					176,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					5,000
Gross amount at which carried at close of period [Abstract]
Land					181,000
Buildings & Improvements					0
Total		181,000			181,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,003
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 181,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | TCA - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					325,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					325,000
Buildings & Improvements					0
Total		325,000			325,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,006
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 325,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Urbandale - Urbandale, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					5,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					109,000
Gross amount at which carried at close of period [Abstract]
Land					114,000
Buildings & Improvements					0
Total		114,000			114,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,009
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 114,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land [Member] | Weston - Weston, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					370,000
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					370,000
Buildings & Improvements					0
Total		370,000			370,000
Accumulated Depreciation		$ 0			0
Date of Construction or Acquisition		2,006
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 370,000
Deductions during year [Abstract]
Balance at close of year		0
Unimproved Land Moved to Development in Progress [Member]
Reconciliations of total real estate carrying value [Abstract]
Transfers		(7,015,000)	(2,870,000)	(3,670,000)
Multi-Family Residential [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				423,385,000
Initial Cost to Company [Abstract]
Land					65,410,000
Buildings & Improvements					746,299,000
Costs capitalized subsequent to acquisition					134,811,000
Gross amount at which carried at close of period [Abstract]
Land					81,919,000
Buildings & Improvements					864,601,000
Total		946,520,000			946,520,000
Accumulated Depreciation		(180,414,000)			(180,414,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		946,520,000
Deductions during year [Abstract]
Balance at close of year		180,414,000
Multi-Family Residential [Member] | 11th Street 3 Plex - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				84,000
Initial Cost to Company [Abstract]
Land					11,000
Buildings & Improvements					53,000
Costs capitalized subsequent to acquisition					19,000
Gross amount at which carried at close of period [Abstract]
Land					20,000
Buildings & Improvements					63,000
Total		83,000			83,000
Accumulated Depreciation		$ (12,000)			(12,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 83,000
Deductions during year [Abstract]
Balance at close of year		12,000
Multi-Family Residential [Member] | 4th Street 4 Plex - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				98,000
Initial Cost to Company [Abstract]
Land					15,000
Buildings & Improvements					74,000
Costs capitalized subsequent to acquisition					34,000
Gross amount at which carried at close of period [Abstract]
Land					23,000
Buildings & Improvements					100,000
Total		123,000			123,000
Accumulated Depreciation		$ (19,000)			(19,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 123,000
Deductions during year [Abstract]
Balance at close of year		19,000
Multi-Family Residential [Member] | Alps Park - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,934,000
Initial Cost to Company [Abstract]
Land					287,000
Buildings & Improvements					5,551,000
Costs capitalized subsequent to acquisition					165,000
Gross amount at which carried at close of period [Abstract]
Land					293,000
Buildings & Improvements					5,710,000
Total		6,003,000			6,003,000
Accumulated Depreciation		$ (299,000)			(299,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,003,000
Deductions during year [Abstract]
Balance at close of year		299,000
Multi-Family Residential [Member] | Apartments on Main - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				642,000
Initial Cost to Company [Abstract]
Land					158,000
Buildings & Improvements					1,123,000
Costs capitalized subsequent to acquisition					53,000
Gross amount at which carried at close of period [Abstract]
Land					193,000
Buildings & Improvements					1,141,000
Total		1,334,000			1,334,000
Accumulated Depreciation		$ (235,000)			(235,000)
Date of Construction or Acquisition		1,987
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,334,000
Deductions during year [Abstract]
Balance at close of year		$ 235,000
Multi-Family Residential [Member] | Apartments on Main - Minot, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Apartments on Main - Minot, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Arbors - S Sioux City, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,840,000
Initial Cost to Company [Abstract]
Land					350,000
Buildings & Improvements					6,625,000
Costs capitalized subsequent to acquisition					1,923,000
Gross amount at which carried at close of period [Abstract]
Land					980,000
Buildings & Improvements					7,918,000
Total		$ 8,898,000			8,898,000
Accumulated Depreciation		$ (2,115,000)			(2,115,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,898,000
Deductions during year [Abstract]
Balance at close of year		2,115,000
Multi-Family Residential [Member] | Arcata - Golden Valley, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					2,088,000
Buildings & Improvements					29,640,000
Costs capitalized subsequent to acquisition					95,000
Gross amount at which carried at close of period [Abstract]
Land					2,088,000
Buildings & Improvements					29,735,000
Total		31,823,000			31,823,000
Accumulated Depreciation		$ (380,000)			(380,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 31,823,000
Deductions during year [Abstract]
Balance at close of year		380,000
Multi-Family Residential [Member] | Ashland - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,517,000
Initial Cost to Company [Abstract]
Land					741,000
Buildings & Improvements					7,569,000
Costs capitalized subsequent to acquisition					163,000
Gross amount at which carried at close of period [Abstract]
Land					774,000
Buildings & Improvements					7,699,000
Total		8,473,000			8,473,000
Accumulated Depreciation		$ (678,000)			(678,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,473,000
Deductions during year [Abstract]
Balance at close of year		678,000
Multi-Family Residential [Member] | Boulder Court - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,736,000
Initial Cost to Company [Abstract]
Land					1,067,000
Buildings & Improvements					5,498,000
Costs capitalized subsequent to acquisition					3,005,000
Gross amount at which carried at close of period [Abstract]
Land					1,324,000
Buildings & Improvements					8,246,000
Total		9,570,000			9,570,000
Accumulated Depreciation		$ (2,539,000)			(2,539,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,570,000
Deductions during year [Abstract]
Balance at close of year		2,539,000
Multi-Family Residential [Member] | Brookfield Village - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,216,000
Initial Cost to Company [Abstract]
Land					509,000
Buildings & Improvements					6,698,000
Costs capitalized subsequent to acquisition					1,539,000
Gross amount at which carried at close of period [Abstract]
Land					756,000
Buildings & Improvements					7,990,000
Total		8,746,000			8,746,000
Accumulated Depreciation		$ (2,348,000)			(2,348,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,746,000
Deductions during year [Abstract]
Balance at close of year		2,348,000
Multi-Family Residential [Member] | Brooklyn Heights - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				694,000
Initial Cost to Company [Abstract]
Land					145,000
Buildings & Improvements					1,450,000
Costs capitalized subsequent to acquisition					879,000
Gross amount at which carried at close of period [Abstract]
Land					219,000
Buildings & Improvements					2,255,000
Total		2,474,000			2,474,000
Accumulated Depreciation		$ (949,000)			(949,000)
Date of Construction or Acquisition		1,997
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,474,000
Deductions during year [Abstract]
Balance at close of year		$ 949,000
Multi-Family Residential [Member] | Brooklyn Heights - Minot, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		12 years
Multi-Family Residential [Member] | Brooklyn Heights - Minot, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Campus Center - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,127,000
Initial Cost to Company [Abstract]
Land					395,000
Buildings & Improvements					2,244,000
Costs capitalized subsequent to acquisition					243,000
Gross amount at which carried at close of period [Abstract]
Land					407,000
Buildings & Improvements					2,475,000
Total		$ 2,882,000			2,882,000
Accumulated Depreciation		$ (534,000)			(534,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,882,000
Deductions during year [Abstract]
Balance at close of year		534,000
Multi-Family Residential [Member] | Campus Heights - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					110,000
Buildings & Improvements					628,000
Costs capitalized subsequent to acquisition					157,000
Gross amount at which carried at close of period [Abstract]
Land					124,000
Buildings & Improvements					771,000
Total		895,000			895,000
Accumulated Depreciation		$ (163,000)			(163,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 895,000
Deductions during year [Abstract]
Balance at close of year		163,000
Multi-Family Residential [Member] | Campus Knoll - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				752,000
Initial Cost to Company [Abstract]
Land					266,000
Buildings & Improvements					1,512,000
Costs capitalized subsequent to acquisition					180,000
Gross amount at which carried at close of period [Abstract]
Land					305,000
Buildings & Improvements					1,653,000
Total		1,958,000			1,958,000
Accumulated Depreciation		$ (364,000)			(364,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,958,000
Deductions during year [Abstract]
Balance at close of year		364,000
Multi-Family Residential [Member] | Campus Plaza - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					54,000
Buildings & Improvements					311,000
Costs capitalized subsequent to acquisition					85,000
Gross amount at which carried at close of period [Abstract]
Land					60,000
Buildings & Improvements					390,000
Total		450,000			450,000
Accumulated Depreciation		$ (87,000)			(87,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 450,000
Deductions during year [Abstract]
Balance at close of year		87,000
Multi-Family Residential [Member] | Campus Side - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					107,000
Buildings & Improvements					615,000
Costs capitalized subsequent to acquisition					161,000
Gross amount at which carried at close of period [Abstract]
Land					118,000
Buildings & Improvements					765,000
Total		883,000			883,000
Accumulated Depreciation		$ (170,000)			(170,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 883,000
Deductions during year [Abstract]
Balance at close of year		170,000
Multi-Family Residential [Member] | Campus View - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					107,000
Buildings & Improvements					615,000
Costs capitalized subsequent to acquisition					156,000
Gross amount at which carried at close of period [Abstract]
Land					113,000
Buildings & Improvements					765,000
Total		878,000			878,000
Accumulated Depreciation		$ (164,000)			(164,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 878,000
Deductions during year [Abstract]
Balance at close of year		164,000
Multi-Family Residential [Member] | Canyon Lake - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,843,000
Initial Cost to Company [Abstract]
Land					305,000
Buildings & Improvements					3,958,000
Costs capitalized subsequent to acquisition					1,652,000
Gross amount at which carried at close of period [Abstract]
Land					376,000
Buildings & Improvements					5,539,000
Total		5,915,000			5,915,000
Accumulated Depreciation		$ (1,739,000)			(1,739,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,915,000
Deductions during year [Abstract]
Balance at close of year		1,739,000
Multi-Family Residential [Member] | Castlerock - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				6,574,000
Initial Cost to Company [Abstract]
Land					736,000
Buildings & Improvements					4,864,000
Costs capitalized subsequent to acquisition					2,165,000
Gross amount at which carried at close of period [Abstract]
Land					994,000
Buildings & Improvements					6,771,000
Total		7,765,000			7,765,000
Accumulated Depreciation		$ (2,726,000)			(2,726,000)
Date of Construction or Acquisition		1,998
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,765,000
Deductions during year [Abstract]
Balance at close of year		2,726,000
Multi-Family Residential [Member] | Chateau I - Minot ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					61,000
Buildings & Improvements					5,663,000
Costs capitalized subsequent to acquisition					683,000
Gross amount at which carried at close of period [Abstract]
Land					71,000
Buildings & Improvements					6,336,000
Total		6,407,000			6,407,000
Accumulated Depreciation		$ (786,000)			(786,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,407,000
Deductions during year [Abstract]
Balance at close of year		786,000
Multi-Family Residential [Member] | Cimarron Hills - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				4,729,000
Initial Cost to Company [Abstract]
Land					706,000
Buildings & Improvements					9,588,000
Costs capitalized subsequent to acquisition					4,346,000
Gross amount at which carried at close of period [Abstract]
Land					1,334,000
Buildings & Improvements					13,306,000
Total		14,640,000			14,640,000
Accumulated Depreciation		$ (4,723,000)			(4,723,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,640,000
Deductions during year [Abstract]
Balance at close of year		4,723,000
Multi-Family Residential [Member] | Colonial Villa - Burnsville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,473,000
Initial Cost to Company [Abstract]
Land					2,401,000
Buildings & Improvements					11,515,000
Costs capitalized subsequent to acquisition					7,471,000
Gross amount at which carried at close of period [Abstract]
Land					2,844,000
Buildings & Improvements					18,543,000
Total		21,387,000			21,387,000
Accumulated Depreciation		$ (5,255,000)			(5,255,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,387,000
Deductions during year [Abstract]
Balance at close of year		5,255,000
Multi-Family Residential [Member] | Colony - Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				13,303,000
Initial Cost to Company [Abstract]
Land					1,515,000
Buildings & Improvements					15,730,000
Costs capitalized subsequent to acquisition					671,000
Gross amount at which carried at close of period [Abstract]
Land					1,574,000
Buildings & Improvements					16,342,000
Total		17,916,000			17,916,000
Accumulated Depreciation		$ (1,316,000)			(1,316,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 17,916,000
Deductions during year [Abstract]
Balance at close of year		1,316,000
Multi-Family Residential [Member] | Colton Heights - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				391,000
Initial Cost to Company [Abstract]
Land					80,000
Buildings & Improvements					672,000
Costs capitalized subsequent to acquisition					421,000
Gross amount at which carried at close of period [Abstract]
Land					123,000
Buildings & Improvements					1,050,000
Total		1,173,000			1,173,000
Accumulated Depreciation		$ (769,000)			(769,000)
Date of Construction or Acquisition		1,984
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,173,000
Deductions during year [Abstract]
Balance at close of year		769,000
Multi-Family Residential [Member] | Commons at Southgate - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					3,691,000
Buildings & Improvements					31,351,000
Costs capitalized subsequent to acquisition					580,000
Gross amount at which carried at close of period [Abstract]
Land					3,703,000
Buildings & Improvements					31,919,000
Total		35,622,000			35,622,000
Accumulated Depreciation		$ (993,000)			(993,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 35,622,000
Deductions during year [Abstract]
Balance at close of year		993,000
Multi-Family Residential [Member] | Cornerstone - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					54,000
Buildings & Improvements					311,000
Costs capitalized subsequent to acquisition					88,000
Gross amount at which carried at close of period [Abstract]
Land					57,000
Buildings & Improvements					396,000
Total		453,000			453,000
Accumulated Depreciation		$ (89,000)			(89,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 453,000
Deductions during year [Abstract]
Balance at close of year		89,000
Multi-Family Residential [Member] | Cottage West Twin Homes - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,586,000
Initial Cost to Company [Abstract]
Land					968,000
Buildings & Improvements					3,762,000
Costs capitalized subsequent to acquisition					432,000
Gross amount at which carried at close of period [Abstract]
Land					1,022,000
Buildings & Improvements					4,140,000
Total		5,162,000			5,162,000
Accumulated Depreciation		$ (378,000)			(378,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,162,000
Deductions during year [Abstract]
Balance at close of year		378,000
Multi-Family Residential [Member] | Cottonwood - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				15,586,000
Initial Cost to Company [Abstract]
Land					1,056,000
Buildings & Improvements					17,372,000
Costs capitalized subsequent to acquisition					3,294,000
Gross amount at which carried at close of period [Abstract]
Land					1,383,000
Buildings & Improvements					20,339,000
Total		21,722,000			21,722,000
Accumulated Depreciation		$ (6,904,000)			(6,904,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,722,000
Deductions during year [Abstract]
Balance at close of year		6,904,000
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				6,560,000
Initial Cost to Company [Abstract]
Land					491,000
Buildings & Improvements					7,809,000
Costs capitalized subsequent to acquisition					1,486,000
Gross amount at which carried at close of period [Abstract]
Land					538,000
Buildings & Improvements					9,248,000
Total		9,786,000			9,786,000
Accumulated Depreciation		$ (3,797,000)			(3,797,000)
Date of Construction or Acquisition		1,995
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,786,000
Deductions during year [Abstract]
Balance at close of year		$ 3,797,000
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		33 years
Multi-Family Residential [Member] | Country Meadows - Billings, MT [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,839,000
Initial Cost to Company [Abstract]
Land					235,000
Buildings & Improvements					4,290,000
Costs capitalized subsequent to acquisition					1,682,000
Gross amount at which carried at close of period [Abstract]
Land					515,000
Buildings & Improvements					5,692,000
Total		$ 6,207,000			6,207,000
Accumulated Depreciation		$ (2,915,000)			(2,915,000)
Date of Construction or Acquisition		1,994
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,207,000
Deductions during year [Abstract]
Balance at close of year		$ 2,915,000
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Crestview - Bismarck, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Crown - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,571,000
Initial Cost to Company [Abstract]
Land					261,000
Buildings & Improvements					3,289,000
Costs capitalized subsequent to acquisition					246,000
Gross amount at which carried at close of period [Abstract]
Land					269,000
Buildings & Improvements					3,527,000
Total		$ 3,796,000			3,796,000
Accumulated Depreciation		$ (470,000)			(470,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,796,000
Deductions during year [Abstract]
Balance at close of year		470,000
Multi-Family Residential [Member] | Crown Colony - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,081,000
Initial Cost to Company [Abstract]
Land					620,000
Buildings & Improvements					9,956,000
Costs capitalized subsequent to acquisition					2,388,000
Gross amount at which carried at close of period [Abstract]
Land					898,000
Buildings & Improvements					12,066,000
Total		12,964,000			12,964,000
Accumulated Depreciation		$ (4,531,000)			(4,531,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,964,000
Deductions during year [Abstract]
Balance at close of year		4,531,000
Multi-Family Residential [Member] | Cypress Court - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				13,150,000
Initial Cost to Company [Abstract]
Land					1,583,000
Buildings & Improvements					18,874,000
Costs capitalized subsequent to acquisition					148,000
Gross amount at which carried at close of period [Abstract]
Land					1,583,000
Buildings & Improvements					19,022,000
Total		20,605,000			20,605,000
Accumulated Depreciation		$ (652,000)			(652,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 20,605,000
Deductions during year [Abstract]
Balance at close of year		652,000
Multi-Family Residential [Member] | Dakota Commons - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				823,000
Buildings & Improvements	[6]				9,596,000
Costs capitalized subsequent to acquisition	[6]				25,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				824,000
Buildings & Improvements	[6]				9,620,000
Total	[6]	10,444,000			10,444,000
Accumulated Depreciation	[6]	$ (236,000)			(236,000)
Date of Construction or Acquisition	[6]	2,012
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 10,444,000
Deductions during year [Abstract]
Balance at close of year	[6]	236,000
Multi-Family Residential [Member] | Evergreen - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,986,000
Initial Cost to Company [Abstract]
Land					380,000
Buildings & Improvements					2,740,000
Costs capitalized subsequent to acquisition					116,000
Gross amount at which carried at close of period [Abstract]
Land					385,000
Buildings & Improvements					2,851,000
Total		3,236,000			3,236,000
Accumulated Depreciation		$ (474,000)			(474,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,236,000
Deductions during year [Abstract]
Balance at close of year		474,000
Multi-Family Residential [Member] | Evergreen II - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,066,000
Initial Cost to Company [Abstract]
Land					691,000
Buildings & Improvements					2,784,000
Costs capitalized subsequent to acquisition					55,000
Gross amount at which carried at close of period [Abstract]
Land					698,000
Buildings & Improvements					2,832,000
Total		3,530,000			3,530,000
Accumulated Depreciation		$ (277,000)			(277,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,530,000
Deductions during year [Abstract]
Balance at close of year		277,000
Multi-Family Residential [Member] | Fairmont - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				332,000
Initial Cost to Company [Abstract]
Land					28,000
Buildings & Improvements					337,000
Costs capitalized subsequent to acquisition					117,000
Gross amount at which carried at close of period [Abstract]
Land					55,000
Buildings & Improvements					427,000
Total		482,000			482,000
Accumulated Depreciation		$ (76,000)			(76,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 482,000
Deductions during year [Abstract]
Balance at close of year		76,000
Multi-Family Residential [Member] | First Avenue - Minot ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					3,046,000
Costs capitalized subsequent to acquisition					11,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					3,057,000
Total		3,057,000			3,057,000
Accumulated Depreciation		$ (155,000)			(155,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,057,000
Deductions during year [Abstract]
Balance at close of year		155,000
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				7,560,000
Initial Cost to Company [Abstract]
Land					810,000
Buildings & Improvements					5,579,000
Costs capitalized subsequent to acquisition					7,407,000
Gross amount at which carried at close of period [Abstract]
Land					1,426,000
Buildings & Improvements					12,370,000
Total		13,796,000			13,796,000
Accumulated Depreciation		$ (5,333,000)			(5,333,000)
Date of Construction or Acquisition		1,993
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,796,000
Deductions during year [Abstract]
Balance at close of year		$ 5,333,000
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Forest Park - Grand Forks, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Gables Townhomes - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,452,000
Initial Cost to Company [Abstract]
Land					349,000
Buildings & Improvements					1,921,000
Costs capitalized subsequent to acquisition					173,000
Gross amount at which carried at close of period [Abstract]
Land					374,000
Buildings & Improvements					2,069,000
Total		$ 2,443,000			2,443,000
Accumulated Depreciation		$ (189,000)			(189,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,443,000
Deductions during year [Abstract]
Balance at close of year		189,000
Multi-Family Residential [Member] | Grand Gateway - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,345,000
Initial Cost to Company [Abstract]
Land					814,000
Buildings & Improvements					7,086,000
Costs capitalized subsequent to acquisition					805,000
Gross amount at which carried at close of period [Abstract]
Land					934,000
Buildings & Improvements					7,771,000
Total		8,705,000			8,705,000
Accumulated Depreciation		$ (746,000)			(746,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,705,000
Deductions during year [Abstract]
Balance at close of year		746,000
Multi-Family Residential [Member] | Greenfield - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,552,000
Initial Cost to Company [Abstract]
Land					578,000
Buildings & Improvements					4,122,000
Costs capitalized subsequent to acquisition					769,000
Gross amount at which carried at close of period [Abstract]
Land					803,000
Buildings & Improvements					4,666,000
Total		5,469,000			5,469,000
Accumulated Depreciation		$ (932,000)			(932,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,469,000
Deductions during year [Abstract]
Balance at close of year		932,000
Multi-Family Residential [Member] | Heritage Manor - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,895,000
Initial Cost to Company [Abstract]
Land					403,000
Buildings & Improvements					6,968,000
Costs capitalized subsequent to acquisition					2,796,000
Gross amount at which carried at close of period [Abstract]
Land					580,000
Buildings & Improvements					9,587,000
Total		10,167,000			10,167,000
Accumulated Depreciation		$ (3,751,000)			(3,751,000)
Date of Construction or Acquisition		1,998
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,167,000
Deductions during year [Abstract]
Balance at close of year		3,751,000
Multi-Family Residential [Member] | Homestead Garden - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				9,761,000
Initial Cost to Company [Abstract]
Land					655,000
Buildings & Improvements					14,139,000
Costs capitalized subsequent to acquisition					156,000
Gross amount at which carried at close of period [Abstract]
Land					658,000
Buildings & Improvements					14,292,000
Total		14,950,000			14,950,000
Accumulated Depreciation		$ (329,000)			(329,000)
Date of Construction or Acquisition		2,014
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,950,000
Deductions during year [Abstract]
Balance at close of year		329,000
Multi-Family Residential [Member] | Indian Hills - Sioux City, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					294,000
Buildings & Improvements					2,921,000
Costs capitalized subsequent to acquisition					3,709,000
Gross amount at which carried at close of period [Abstract]
Land					397,000
Buildings & Improvements					6,527,000
Total		6,924,000			6,924,000
Accumulated Depreciation		$ (1,353,000)			(1,353,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,924,000
Deductions during year [Abstract]
Balance at close of year		1,353,000
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,259,000
Initial Cost to Company [Abstract]
Land					449,000
Buildings & Improvements					2,725,000
Costs capitalized subsequent to acquisition					1,676,000
Gross amount at which carried at close of period [Abstract]
Land					553,000
Buildings & Improvements					4,297,000
Total		4,850,000			4,850,000
Accumulated Depreciation		$ (1,786,000)			(1,786,000)
Date of Construction or Acquisition		1,997
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,850,000
Deductions during year [Abstract]
Balance at close of year		$ 1,786,000
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		12 years
Multi-Family Residential [Member] | Kirkwood Manor - Bismarck, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Lakeside Village Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				13,129,000
Initial Cost to Company [Abstract]
Land					1,215,000
Buildings & Improvements					15,837,000
Costs capitalized subsequent to acquisition					442,000
Gross amount at which carried at close of period [Abstract]
Land					1,263,000
Buildings & Improvements					16,231,000
Total		$ 17,494,000			17,494,000
Accumulated Depreciation		$ (1,294,000)			(1,294,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 17,494,000
Deductions during year [Abstract]
Balance at close of year		1,294,000
Multi-Family Residential [Member] | Landing at Southgate - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					2,254,000
Buildings & Improvements					12,955,000
Costs capitalized subsequent to acquisition					93,000
Gross amount at which carried at close of period [Abstract]
Land					2,294,000
Buildings & Improvements					13,008,000
Total		15,302,000			15,302,000
Accumulated Depreciation		$ (546,000)			(546,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 15,302,000
Deductions during year [Abstract]
Balance at close of year		546,000
Multi-Family Residential [Member] | Landmark - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,573,000
Initial Cost to Company [Abstract]
Land					184,000
Buildings & Improvements					1,514,000
Costs capitalized subsequent to acquisition					1,093,000
Gross amount at which carried at close of period [Abstract]
Land					331,000
Buildings & Improvements					2,460,000
Total		2,791,000			2,791,000
Accumulated Depreciation		$ (1,070,000)			(1,070,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,791,000
Deductions during year [Abstract]
Balance at close of year		1,070,000
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				15,528,000
Initial Cost to Company [Abstract]
Land					1,362,000
Buildings & Improvements					21,727,000
Costs capitalized subsequent to acquisition					6,665,000
Gross amount at which carried at close of period [Abstract]
Land					2,133,000
Buildings & Improvements					27,621,000
Total		29,754,000			29,754,000
Accumulated Depreciation		(10,186,000)			(10,186,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		29,754,000
Deductions during year [Abstract]
Balance at close of year		$ 10,186,000
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Date of Construction or Acquisition		1,995
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Legacy - Grand Forks, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Legacy Heights - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					804,000
Buildings & Improvements					9,162,000
Costs capitalized subsequent to acquisition					73,000
Gross amount at which carried at close of period [Abstract]
Land					804,000
Buildings & Improvements					9,235,000
Total		$ 10,039,000			10,039,000
Accumulated Depreciation		$ (21,000)			(21,000)
Date of Construction or Acquisition		2,015
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,039,000
Deductions during year [Abstract]
Balance at close of year		21,000
Multi-Family Residential [Member] | Mariposa - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,925,000
Initial Cost to Company [Abstract]
Land					399,000
Buildings & Improvements					5,110,000
Costs capitalized subsequent to acquisition					535,000
Gross amount at which carried at close of period [Abstract]
Land					427,000
Buildings & Improvements					5,617,000
Total		6,044,000			6,044,000
Accumulated Depreciation		$ (1,498,000)			(1,498,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,044,000
Deductions during year [Abstract]
Balance at close of year		1,498,000
Multi-Family Residential [Member] | Meadows - Jamestown, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				590,000
Buildings & Improvements	[6]				4,519,000
Costs capitalized subsequent to acquisition	[6]				1,355,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				669,000
Buildings & Improvements	[6]				5,795,000
Total	[6]	6,464,000			6,464,000
Accumulated Depreciation	[6]	$ (2,135,000)			(2,135,000)
Date of Construction or Acquisition	[6]	1,998
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 6,464,000
Deductions during year [Abstract]
Balance at close of year	[6]	2,135,000
Multi-Family Residential [Member] | Monticello Village - Monticello, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,956,000
Initial Cost to Company [Abstract]
Land					490,000
Buildings & Improvements					3,756,000
Costs capitalized subsequent to acquisition					491,000
Gross amount at which carried at close of period [Abstract]
Land					621,000
Buildings & Improvements					4,116,000
Total		4,737,000			4,737,000
Accumulated Depreciation		$ (1,257,000)			(1,257,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,737,000
Deductions during year [Abstract]
Balance at close of year		1,257,000
Multi-Family Residential [Member] | Northern Valley - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					110,000
Buildings & Improvements					610,000
Costs capitalized subsequent to acquisition					129,000
Gross amount at which carried at close of period [Abstract]
Land					119,000
Buildings & Improvements					730,000
Total		849,000			849,000
Accumulated Depreciation		$ (100,000)			(100,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 849,000
Deductions during year [Abstract]
Balance at close of year		100,000
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,382,000
Initial Cost to Company [Abstract]
Land					303,000
Buildings & Improvements					3,957,000
Costs capitalized subsequent to acquisition					622,000
Gross amount at which carried at close of period [Abstract]
Land					354,000
Buildings & Improvements					4,528,000
Total		4,882,000			4,882,000
Accumulated Depreciation		(1,474,000)			(1,474,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		4,882,000
Deductions during year [Abstract]
Balance at close of year		$ 1,474,000
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Date of Construction or Acquisition		1,995
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | North Pointe - Bismarck, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Northridge - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				6,322,000
Initial Cost to Company [Abstract]
Land					884,000
Buildings & Improvements					7,516,000
Costs capitalized subsequent to acquisition					26,000
Gross amount at which carried at close of period [Abstract]
Land					888,000
Buildings & Improvements					7,538,000
Total		$ 8,426,000			8,426,000
Accumulated Depreciation		$ (126,000)			(126,000)
Date of Construction or Acquisition		2,014
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,426,000
Deductions during year [Abstract]
Balance at close of year		126,000
Multi-Family Residential [Member] | Oakmont Estates - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,418,000
Initial Cost to Company [Abstract]
Land					422,000
Buildings & Improvements					4,838,000
Costs capitalized subsequent to acquisition					638,000
Gross amount at which carried at close of period [Abstract]
Land					627,000
Buildings & Improvements					5,271,000
Total		5,898,000			5,898,000
Accumulated Depreciation		$ (1,746,000)			(1,746,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,898,000
Deductions during year [Abstract]
Balance at close of year		1,746,000
Multi-Family Residential [Member] | Oakwood Estates - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,939,000
Initial Cost to Company [Abstract]
Land					543,000
Buildings & Improvements					2,784,000
Costs capitalized subsequent to acquisition					4,336,000
Gross amount at which carried at close of period [Abstract]
Land					777,000
Buildings & Improvements					6,886,000
Total		7,663,000			7,663,000
Accumulated Depreciation		$ (3,214,000)			(3,214,000)
Date of Construction or Acquisition		1,993
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,663,000
Deductions during year [Abstract]
Balance at close of year		3,214,000
Multi-Family Residential [Member] | Olympic Village - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				10,575,000
Initial Cost to Company [Abstract]
Land					1,164,000
Buildings & Improvements					10,441,000
Costs capitalized subsequent to acquisition					3,086,000
Gross amount at which carried at close of period [Abstract]
Land					1,785,000
Buildings & Improvements					12,906,000
Total		14,691,000			14,691,000
Accumulated Depreciation		$ (4,881,000)			(4,881,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,691,000
Deductions during year [Abstract]
Balance at close of year		4,881,000
Multi-Family Residential [Member] | Olympik Village - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				4,382,000
Initial Cost to Company [Abstract]
Land					1,034,000
Buildings & Improvements					6,109,000
Costs capitalized subsequent to acquisition					1,968,000
Gross amount at which carried at close of period [Abstract]
Land					1,183,000
Buildings & Improvements					7,928,000
Total		9,111,000			9,111,000
Accumulated Depreciation		$ (2,127,000)			(2,127,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,111,000
Deductions during year [Abstract]
Balance at close of year		2,127,000
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,846,000
Initial Cost to Company [Abstract]
Land					404,000
Buildings & Improvements					3,152,000
Costs capitalized subsequent to acquisition					2,894,000
Gross amount at which carried at close of period [Abstract]
Land					824,000
Buildings & Improvements					5,626,000
Total		6,450,000			6,450,000
Accumulated Depreciation		$ (2,808,000)			(2,808,000)
Date of Construction or Acquisition		1,994
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,450,000
Deductions during year [Abstract]
Balance at close of year		$ 2,808,000
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Oxbow Park - Sioux Falls, SD [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Park Meadows - Waite Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,482,000
Initial Cost to Company [Abstract]
Land					1,143,000
Buildings & Improvements					9,099,000
Costs capitalized subsequent to acquisition					5,792,000
Gross amount at which carried at close of period [Abstract]
Land					1,629,000
Buildings & Improvements					14,405,000
Total		$ 16,034,000			16,034,000
Accumulated Depreciation		$ (5,939,000)			(5,939,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 16,034,000
Deductions during year [Abstract]
Balance at close of year		5,939,000
Multi-Family Residential [Member] | Pebble Springs - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				757,000
Initial Cost to Company [Abstract]
Land					7,000
Buildings & Improvements					748,000
Costs capitalized subsequent to acquisition					165,000
Gross amount at which carried at close of period [Abstract]
Land					54,000
Buildings & Improvements					866,000
Total		920,000			920,000
Accumulated Depreciation		$ (349,000)			(349,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 920,000
Deductions during year [Abstract]
Balance at close of year		349,000
Multi-Family Residential [Member] | Pinehurst - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				205,000
Initial Cost to Company [Abstract]
Land					72,000
Buildings & Improvements					687,000
Costs capitalized subsequent to acquisition					251,000
Gross amount at which carried at close of period [Abstract]
Land					81,000
Buildings & Improvements					929,000
Total		1,010,000			1,010,000
Accumulated Depreciation		$ (305,000)			(305,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,010,000
Deductions during year [Abstract]
Balance at close of year		305,000
Multi-Family Residential [Member] | Pinecone Villas - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					584,000
Buildings & Improvements					2,191,000
Costs capitalized subsequent to acquisition					27,000
Gross amount at which carried at close of period [Abstract]
Land					585,000
Buildings & Improvements					2,217,000
Total		2,802,000			2,802,000
Accumulated Depreciation		$ (95,000)			(95,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,802,000
Deductions during year [Abstract]
Balance at close of year		95,000
Multi-Family Residential [Member] | Pines - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				111,000
Initial Cost to Company [Abstract]
Land					35,000
Buildings & Improvements					215,000
Costs capitalized subsequent to acquisition					185,000
Gross amount at which carried at close of period [Abstract]
Land					49,000
Buildings & Improvements					386,000
Total		435,000			435,000
Accumulated Depreciation		$ (141,000)			(141,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 435,000
Deductions during year [Abstract]
Balance at close of year		141,000
Multi-Family Residential [Member] | Plaza - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,348,000
Initial Cost to Company [Abstract]
Land					867,000
Buildings & Improvements					12,784,000
Costs capitalized subsequent to acquisition					2,455,000
Gross amount at which carried at close of period [Abstract]
Land					995,000
Buildings & Improvements					15,111,000
Total		16,106,000			16,106,000
Accumulated Depreciation		$ (2,433,000)			(2,433,000)
Date of Construction or Acquisition		2,009
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 16,106,000
Deductions during year [Abstract]
Balance at close of year		2,433,000
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,624,000
Initial Cost to Company [Abstract]
Land					240,000
Buildings & Improvements					3,538,000
Costs capitalized subsequent to acquisition					1,527,000
Gross amount at which carried at close of period [Abstract]
Land					368,000
Buildings & Improvements					4,937,000
Total		5,305,000			5,305,000
Accumulated Depreciation		$ (2,379,000)			(2,379,000)
Date of Construction or Acquisition		1,994
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,305,000
Deductions during year [Abstract]
Balance at close of year		$ 2,379,000
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Pointe West - Rapid City, SD [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Ponds at Heritage Place - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,852,000
Initial Cost to Company [Abstract]
Land					395,000
Buildings & Improvements					4,564,000
Costs capitalized subsequent to acquisition					320,000
Gross amount at which carried at close of period [Abstract]
Land					404,000
Buildings & Improvements					4,875,000
Total		$ 5,279,000			5,279,000
Accumulated Depreciation		$ (363,000)			(363,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,279,000
Deductions during year [Abstract]
Balance at close of year		363,000
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,410,000
Initial Cost to Company [Abstract]
Land					144,000
Buildings & Improvements					1,816,000
Costs capitalized subsequent to acquisition					487,000
Gross amount at which carried at close of period [Abstract]
Land					235,000
Buildings & Improvements					2,212,000
Total		2,447,000			2,447,000
Accumulated Depreciation		$ (1,228,000)			(1,228,000)
Date of Construction or Acquisition		1,993
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,447,000
Deductions during year [Abstract]
Balance at close of year		$ 1,228,000
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Prairie Winds - Sioux Falls, SD [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Quarry Ridge - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				27,268,000
Initial Cost to Company [Abstract]
Land					2,254,000
Buildings & Improvements					30,024,000
Costs capitalized subsequent to acquisition					1,392,000
Gross amount at which carried at close of period [Abstract]
Land					2,307,000
Buildings & Improvements					31,363,000
Total		$ 33,670,000			33,670,000
Accumulated Depreciation		$ (4,533,000)			(4,533,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 33,670,000
Deductions during year [Abstract]
Balance at close of year		4,533,000
Multi-Family Residential [Member] | RED 20 - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,900,000
Buildings & Improvements					26,412,000
Costs capitalized subsequent to acquisition					4,000
Gross amount at which carried at close of period [Abstract]
Land					1,900,000
Buildings & Improvements					26,416,000
Total		28,316,000			28,316,000
Accumulated Depreciation		$ (445,000)			(445,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 28,316,000
Deductions during year [Abstract]
Balance at close of year		445,000
Multi-Family Residential [Member] | Regency Park Estates - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				6,680,000
Initial Cost to Company [Abstract]
Land					702,000
Buildings & Improvements					10,198,000
Costs capitalized subsequent to acquisition					1,465,000
Gross amount at which carried at close of period [Abstract]
Land					811,000
Buildings & Improvements					11,554,000
Total		12,365,000			12,365,000
Accumulated Depreciation		$ (1,162,000)			(1,162,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,365,000
Deductions during year [Abstract]
Balance at close of year		1,162,000
Multi-Family Residential [Member] | Ridge Oaks - Sioux City, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,359,000
Initial Cost to Company [Abstract]
Land					178,000
Buildings & Improvements					4,073,000
Costs capitalized subsequent to acquisition					2,437,000
Gross amount at which carried at close of period [Abstract]
Land					288,000
Buildings & Improvements					6,400,000
Total		6,688,000			6,688,000
Accumulated Depreciation		$ (2,205,000)			(2,205,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,688,000
Deductions during year [Abstract]
Balance at close of year		2,205,000
Multi-Family Residential [Member] | Rimrock West - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,282,000
Initial Cost to Company [Abstract]
Land					330,000
Buildings & Improvements					3,489,000
Costs capitalized subsequent to acquisition					1,510,000
Gross amount at which carried at close of period [Abstract]
Land					435,000
Buildings & Improvements					4,894,000
Total		5,329,000			5,329,000
Accumulated Depreciation		$ (1,765,000)			(1,765,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,329,000
Deductions during year [Abstract]
Balance at close of year		1,765,000
Multi-Family Residential [Member] | River Ridge - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				13,200,000
Initial Cost to Company [Abstract]
Land					576,000
Buildings & Improvements					23,826,000
Costs capitalized subsequent to acquisition					998,000
Gross amount at which carried at close of period [Abstract]
Land					1,438,000
Buildings & Improvements					23,962,000
Total		25,400,000			25,400,000
Accumulated Depreciation		$ (1,290,000)			(1,290,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 25,400,000
Deductions during year [Abstract]
Balance at close of year		1,290,000
Multi-Family Residential [Member] | Rocky Meadows - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,089,000
Initial Cost to Company [Abstract]
Land					656,000
Buildings & Improvements					5,726,000
Costs capitalized subsequent to acquisition					1,201,000
Gross amount at which carried at close of period [Abstract]
Land					772,000
Buildings & Improvements					6,811,000
Total		7,583,000			7,583,000
Accumulated Depreciation		$ (3,129,000)			(3,129,000)
Date of Construction or Acquisition		1,995
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,583,000
Deductions during year [Abstract]
Balance at close of year		3,129,000
Multi-Family Residential [Member] | Rum River - Isanti, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,536,000
Initial Cost to Company [Abstract]
Land					843,000
Buildings & Improvements					4,823,000
Costs capitalized subsequent to acquisition					215,000
Gross amount at which carried at close of period [Abstract]
Land					862,000
Buildings & Improvements					5,019,000
Total		5,881,000			5,881,000
Accumulated Depreciation		$ (1,020,000)			(1,020,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,881,000
Deductions during year [Abstract]
Balance at close of year		1,020,000
Multi-Family Residential [Member] | Sherwood - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				12,134,000
Initial Cost to Company [Abstract]
Land					1,142,000
Buildings & Improvements					14,684,000
Costs capitalized subsequent to acquisition					3,064,000
Gross amount at which carried at close of period [Abstract]
Land					1,694,000
Buildings & Improvements					17,196,000
Total		18,890,000			18,890,000
Accumulated Depreciation		$ (6,619,000)			(6,619,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 18,890,000
Deductions during year [Abstract]
Balance at close of year		6,619,000
Multi-Family Residential [Member] | Sierra Vista - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,390,000
Initial Cost to Company [Abstract]
Land					241,000
Buildings & Improvements					2,097,000
Costs capitalized subsequent to acquisition					435,000
Gross amount at which carried at close of period [Abstract]
Land					265,000
Buildings & Improvements					2,508,000
Total		2,773,000			2,773,000
Accumulated Depreciation		$ (273,000)			(273,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,773,000
Deductions during year [Abstract]
Balance at close of year		273,000
Multi-Family Residential [Member] | Silver Springs - Rapid City, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,230,000
Initial Cost to Company [Abstract]
Land					215,000
Buildings & Improvements					3,006,000
Costs capitalized subsequent to acquisition					48,000
Gross amount at which carried at close of period [Abstract]
Land					215,000
Buildings & Improvements					3,054,000
Total		3,269,000			3,269,000
Accumulated Depreciation		$ (68,000)			(68,000)
Date of Construction or Acquisition		2,014
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,269,000
Deductions during year [Abstract]
Balance at close of year		68,000
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,613,000
Initial Cost to Company [Abstract]
Land					550,000
Buildings & Improvements					9,548,000
Costs capitalized subsequent to acquisition					2,847,000
Gross amount at which carried at close of period [Abstract]
Land					1,343,000
Buildings & Improvements					11,602,000
Total		12,945,000			12,945,000
Accumulated Depreciation		$ (5,494,000)			(5,494,000)
Date of Construction or Acquisition		1,995
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,945,000
Deductions during year [Abstract]
Balance at close of year		$ 5,494,000
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | South Pointe - Minot, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Southpoint - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				576,000
Buildings & Improvements	[6]				9,893,000
Costs capitalized subsequent to acquisition	[6]				48,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				591,000
Buildings & Improvements	[6]				9,926,000
Total	[6]	$ 10,517,000			10,517,000
Accumulated Depreciation	[6]	$ (414,000)			(414,000)
Date of Construction or Acquisition	[6]	2,013
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 10,517,000
Deductions during year [Abstract]
Balance at close of year	[6]	414,000
Multi-Family Residential [Member] | Southview - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,035,000
Initial Cost to Company [Abstract]
Land					185,000
Buildings & Improvements					469,000
Costs capitalized subsequent to acquisition					410,000
Gross amount at which carried at close of period [Abstract]
Land					240,000
Buildings & Improvements					824,000
Total		1,064,000			1,064,000
Accumulated Depreciation		$ (371,000)			(371,000)
Date of Construction or Acquisition		1,994
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,064,000
Deductions during year [Abstract]
Balance at close of year		371,000
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,503,000
Initial Cost to Company [Abstract]
Land					400,000
Buildings & Improvements					5,034,000
Costs capitalized subsequent to acquisition					2,974,000
Gross amount at which carried at close of period [Abstract]
Land					765,000
Buildings & Improvements					7,643,000
Total		8,408,000			8,408,000
Accumulated Depreciation		$ (3,486,000)			(3,486,000)
Date of Construction or Acquisition		1,995
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,408,000
Deductions during year [Abstract]
Balance at close of year		$ 3,486,000
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Southwind - Grand Forks, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Summit Park - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				963,000
Initial Cost to Company [Abstract]
Land					161,000
Buildings & Improvements					1,898,000
Costs capitalized subsequent to acquisition					1,550,000
Gross amount at which carried at close of period [Abstract]
Land					560,000
Buildings & Improvements					3,049,000
Total		$ 3,609,000			3,609,000
Accumulated Depreciation		$ (1,249,000)			(1,249,000)
Date of Construction or Acquisition		1,997
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,609,000
Deductions during year [Abstract]
Balance at close of year		$ 1,249,000
Multi-Family Residential [Member] | Summit Park - Minot, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		24 years
Multi-Family Residential [Member] | Summit Park - Minot, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Multi-Family Residential [Member] | Sunset Trail - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,009,000
Initial Cost to Company [Abstract]
Land					336,000
Buildings & Improvements					12,814,000
Costs capitalized subsequent to acquisition					2,652,000
Gross amount at which carried at close of period [Abstract]
Land					581,000
Buildings & Improvements					15,221,000
Total		$ 15,802,000			15,802,000
Accumulated Depreciation		$ (5,453,000)			(5,453,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 15,802,000
Deductions during year [Abstract]
Balance at close of year		5,453,000
Multi-Family Residential [Member] | Temple - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				75,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					0
Costs capitalized subsequent to acquisition					231,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					231,000
Total		231,000			231,000
Accumulated Depreciation		$ (57,000)			(57,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 231,000
Deductions during year [Abstract]
Balance at close of year		57,000
Multi-Family Residential [Member] | Terrace Heights - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				160,000
Initial Cost to Company [Abstract]
Land					29,000
Buildings & Improvements					312,000
Costs capitalized subsequent to acquisition					142,000
Gross amount at which carried at close of period [Abstract]
Land					40,000
Buildings & Improvements					443,000
Total		483,000			483,000
Accumulated Depreciation		$ (172,000)			(172,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 483,000
Deductions during year [Abstract]
Balance at close of year		172,000
Multi-Family Residential [Member] | Thomasbrook - Lincoln, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,893,000
Initial Cost to Company [Abstract]
Land					600,000
Buildings & Improvements					10,306,000
Costs capitalized subsequent to acquisition					3,336,000
Gross amount at which carried at close of period [Abstract]
Land					1,403,000
Buildings & Improvements					12,839,000
Total		14,242,000			14,242,000
Accumulated Depreciation		$ (4,680,000)			(4,680,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,242,000
Deductions during year [Abstract]
Balance at close of year		4,680,000
Multi-Family Residential [Member] | University Park Place - St. Cloud, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					78,000
Buildings & Improvements					450,000
Costs capitalized subsequent to acquisition					115,000
Gross amount at which carried at close of period [Abstract]
Land					83,000
Buildings & Improvements					560,000
Total		643,000			643,000
Accumulated Depreciation		$ (118,000)			(118,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 643,000
Deductions during year [Abstract]
Balance at close of year		118,000
Multi-Family Residential [Member] | Valley Park - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,822,000
Initial Cost to Company [Abstract]
Land					294,000
Buildings & Improvements					4,137,000
Costs capitalized subsequent to acquisition					3,508,000
Gross amount at which carried at close of period [Abstract]
Land					1,115,000
Buildings & Improvements					6,824,000
Total		7,939,000			7,939,000
Accumulated Depreciation		$ (2,599,000)			(2,599,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,939,000
Deductions during year [Abstract]
Balance at close of year		2,599,000
Multi-Family Residential [Member] | Villa West - Topeka, KS [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				12,106,000
Initial Cost to Company [Abstract]
Land					1,590,000
Buildings & Improvements					15,760,000
Costs capitalized subsequent to acquisition					923,000
Gross amount at which carried at close of period [Abstract]
Land					1,876,000
Buildings & Improvements					16,397,000
Total		18,273,000			18,273,000
Accumulated Depreciation		$ (1,331,000)			(1,331,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 18,273,000
Deductions during year [Abstract]
Balance at close of year		1,331,000
Multi-Family Residential [Member] | Village Green - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,047,000
Initial Cost to Company [Abstract]
Land					234,000
Buildings & Improvements					2,296,000
Costs capitalized subsequent to acquisition					962,000
Gross amount at which carried at close of period [Abstract]
Land					359,000
Buildings & Improvements					3,133,000
Total		3,492,000			3,492,000
Accumulated Depreciation		$ (935,000)			(935,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,492,000
Deductions during year [Abstract]
Balance at close of year		935,000
Multi-Family Residential [Member] | West Stonehill - Waite Park, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,448,000
Initial Cost to Company [Abstract]
Land					939,000
Buildings & Improvements					10,167,000
Costs capitalized subsequent to acquisition					5,224,000
Gross amount at which carried at close of period [Abstract]
Land					1,533,000
Buildings & Improvements					14,797,000
Total		16,330,000			16,330,000
Accumulated Depreciation		$ (6,896,000)			(6,896,000)
Date of Construction or Acquisition		1,995
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 16,330,000
Deductions during year [Abstract]
Balance at close of year		6,896,000
Multi-Family Residential [Member] | Westridge - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,604,000
Initial Cost to Company [Abstract]
Land					68,000
Buildings & Improvements					1,887,000
Costs capitalized subsequent to acquisition					263,000
Gross amount at which carried at close of period [Abstract]
Land					77,000
Buildings & Improvements					2,141,000
Total		2,218,000			2,218,000
Accumulated Depreciation		$ (377,000)			(377,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,218,000
Deductions during year [Abstract]
Balance at close of year		377,000
Multi-Family Residential [Member] | Westwood Park - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,950,000
Initial Cost to Company [Abstract]
Land					116,000
Buildings & Improvements					1,909,000
Costs capitalized subsequent to acquisition					1,784,000
Gross amount at which carried at close of period [Abstract]
Land					284,000
Buildings & Improvements					3,525,000
Total		3,809,000			3,809,000
Accumulated Depreciation		$ (1,425,000)			(1,425,000)
Date of Construction or Acquisition		1,998
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,809,000
Deductions during year [Abstract]
Balance at close of year		1,425,000
Multi-Family Residential [Member] | Whispering Ridge - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				22,000,000
Initial Cost to Company [Abstract]
Land					2,139,000
Buildings & Improvements					25,424,000
Costs capitalized subsequent to acquisition					732,000
Gross amount at which carried at close of period [Abstract]
Land					2,276,000
Buildings & Improvements					26,019,000
Total		28,295,000			28,295,000
Accumulated Depreciation		$ (1,563,000)			(1,563,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 28,295,000
Deductions during year [Abstract]
Balance at close of year		1,563,000
Multi-Family Residential [Member] | Williston Garden - Williston, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				10,870,000
Initial Cost to Company [Abstract]
Land					1,400,000
Buildings & Improvements					17,696,000
Costs capitalized subsequent to acquisition					85,000
Gross amount at which carried at close of period [Abstract]
Land					1,421,000
Buildings & Improvements					17,760,000
Total		19,181,000			19,181,000
Accumulated Depreciation		$ (2,132,000)			(2,132,000)
Date of Construction or Acquisition		2,012
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 19,181,000
Deductions during year [Abstract]
Balance at close of year		2,132,000
Multi-Family Residential [Member] | Winchester - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,564,000
Initial Cost to Company [Abstract]
Land					748,000
Buildings & Improvements					5,622,000
Costs capitalized subsequent to acquisition					1,846,000
Gross amount at which carried at close of period [Abstract]
Land					1,009,000
Buildings & Improvements					7,207,000
Total		8,216,000			8,216,000
Accumulated Depreciation		$ (2,297,000)			(2,297,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,216,000
Deductions during year [Abstract]
Balance at close of year		2,297,000
Multi-Family Residential [Member] | Woodridge - Rochester, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				6,257,000
Initial Cost to Company [Abstract]
Land					370,000
Buildings & Improvements					6,028,000
Costs capitalized subsequent to acquisition					2,207,000
Gross amount at which carried at close of period [Abstract]
Land					642,000
Buildings & Improvements					7,963,000
Total		8,605,000			8,605,000
Accumulated Depreciation		$ (3,557,000)			(3,557,000)
Date of Construction or Acquisition		1,997
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,605,000
Deductions during year [Abstract]
Balance at close of year		3,557,000
Multi-Family Residential [Member] | Renaissance Heights - Williston ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					2,464,000
Buildings & Improvements					43,488,000
Costs capitalized subsequent to acquisition					123,000
Gross amount at which carried at close of period [Abstract]
Land					2,467,000
Buildings & Improvements					43,608,000
Total		46,075,000			46,075,000
Accumulated Depreciation		$ (848,000)			(848,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 46,075,000
Deductions during year [Abstract]
Balance at close of year		848,000
Multi-Family Residential [Member] | Wholly Owned Properties [Member]
Reconciliations of total real estate carrying value [Abstract]
Additions		183,114,000	84,117,000	113,859,000
Commercial Healthcare [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				220,070,000
Initial Cost to Company [Abstract]
Land					33,522,000
Buildings & Improvements					409,346,000
Costs capitalized subsequent to acquisition					52,153,000
Gross amount at which carried at close of period [Abstract]
Land					34,201,000
Buildings & Improvements					460,820,000
Total		495,021,000			495,021,000
Accumulated Depreciation		(112,515,000)			(112,515,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		495,021,000
Deductions during year [Abstract]
Balance at close of year		112,515,000
Commercial Healthcare [Member] | 2800 Medical Building - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				7,740,000
Initial Cost to Company [Abstract]
Land					204,000
Buildings & Improvements					7,135,000
Costs capitalized subsequent to acquisition					2,492,000
Gross amount at which carried at close of period [Abstract]
Land					229,000
Buildings & Improvements					9,602,000
Total		9,831,000			9,831,000
Accumulated Depreciation		$ (3,037,000)			(3,037,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,831,000
Deductions during year [Abstract]
Balance at close of year		3,037,000
Commercial Healthcare [Member] | 2828 Chicago Avenue - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				12,105,000
Initial Cost to Company [Abstract]
Land					726,000
Buildings & Improvements					11,319,000
Costs capitalized subsequent to acquisition					5,627,000
Gross amount at which carried at close of period [Abstract]
Land					729,000
Buildings & Improvements					16,943,000
Total		17,672,000			17,672,000
Accumulated Depreciation		$ (4,011,000)			(4,011,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 17,672,000
Deductions during year [Abstract]
Balance at close of year		4,011,000
Commercial Healthcare [Member] | Airport Medical - Bloomington, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				431,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					4,678,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					4,678,000
Total		4,678,000			4,678,000
Accumulated Depreciation		$ (1,730,000)			(1,730,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,678,000
Deductions during year [Abstract]
Balance at close of year		1,730,000
Commercial Healthcare [Member] | Billings 2300 Grant Road - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,226,000
Initial Cost to Company [Abstract]
Land					649,000
Buildings & Improvements					1,216,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					649,000
Buildings & Improvements					1,216,000
Total		1,865,000			1,865,000
Accumulated Depreciation		$ (146,000)			(146,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,865,000
Deductions during year [Abstract]
Balance at close of year		146,000
Commercial Healthcare [Member] | Burnsville 303 Nicollet Medical (Ridgeview) - Burnsville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,092,000
Initial Cost to Company [Abstract]
Land					1,071,000
Buildings & Improvements					6,842,000
Costs capitalized subsequent to acquisition					1,968,000
Gross amount at which carried at close of period [Abstract]
Land					1,092,000
Buildings & Improvements					8,789,000
Total		9,881,000			9,881,000
Accumulated Depreciation		$ (1,612,000)			(1,612,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,881,000
Deductions during year [Abstract]
Balance at close of year		1,612,000
Commercial Healthcare [Member] | Burnsville 305 Nicollet Medical (Ridgeview South) - Burnsville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,066,000
Initial Cost to Company [Abstract]
Land					189,000
Buildings & Improvements					5,127,000
Costs capitalized subsequent to acquisition					971,000
Gross amount at which carried at close of period [Abstract]
Land					203,000
Buildings & Improvements					6,084,000
Total		6,287,000			6,287,000
Accumulated Depreciation		$ (1,078,000)			(1,078,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,287,000
Deductions during year [Abstract]
Balance at close of year		1,078,000
Commercial Healthcare [Member] | Casper 1930 E 12th Street (Park Place) - Casper, WY [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				439,000
Buildings & Improvements	[6]				5,780,000
Costs capitalized subsequent to acquisition	[6]				172,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				439,000
Buildings & Improvements	[6]				5,952,000
Total	[6]	6,391,000			6,391,000
Accumulated Depreciation	[6]	$ (855,000)			(855,000)
Date of Construction or Acquisition	[6]	2,009
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 6,391,000
Deductions during year [Abstract]
Balance at close of year	[6]	855,000
Commercial Healthcare [Member] | Casper 3955 E 12th Street (Meadow Wind) - Casper, WY [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				388,000
Buildings & Improvements	[6]				10,494,000
Costs capitalized subsequent to acquisition	[6]				576,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				459,000
Buildings & Improvements	[6]				10,999,000
Total	[6]	11,458,000			11,458,000
Accumulated Depreciation	[6]	$ (1,510,000)			(1,510,000)
Date of Construction or Acquisition	[6]	2,009
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 11,458,000
Deductions during year [Abstract]
Balance at close of year	[6]	1,510,000
Commercial Healthcare [Member] | Cheyenne 4010 N College Drive (Aspen Wind) - Cheyenne, WY [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				628,000
Buildings & Improvements	[6]				10,272,000
Costs capitalized subsequent to acquisition	[6]				270,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				629,000
Buildings & Improvements	[6]				10,541,000
Total	[6]	11,170,000			11,170,000
Accumulated Depreciation	[6]	$ (1,457,000)			(1,457,000)
Date of Construction or Acquisition	[6]	2,009
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 11,170,000
Deductions during year [Abstract]
Balance at close of year	[6]	1,457,000
Commercial Healthcare [Member] | Cheyenne 4606 N College Drive (Sierra Hills) - Cheyenne, WY [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				695,000
Buildings & Improvements	[6]				7,455,000
Costs capitalized subsequent to acquisition	[6]				50,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				695,000
Buildings & Improvements	[6]				7,505,000
Total	[6]	8,200,000			8,200,000
Accumulated Depreciation	[6]	$ (1,020,000)			(1,020,000)
Date of Construction or Acquisition	[6]	2,009
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 8,200,000
Deductions during year [Abstract]
Balance at close of year	[6]	1,020,000
Commercial Healthcare [Member] | Denfeld Clinic - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,430,000
Initial Cost to Company [Abstract]
Land					501,000
Buildings & Improvements					2,597,000
Costs capitalized subsequent to acquisition					1,000
Gross amount at which carried at close of period [Abstract]
Land					501,000
Buildings & Improvements					2,598,000
Total		3,099,000			3,099,000
Accumulated Depreciation		$ (718,000)			(718,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,099,000
Deductions during year [Abstract]
Balance at close of year		718,000
Commercial Healthcare [Member] | Eagan 1440 Duckwood Medical - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					521,000
Buildings & Improvements					1,547,000
Costs capitalized subsequent to acquisition					556,000
Gross amount at which carried at close of period [Abstract]
Land					521,000
Buildings & Improvements					2,103,000
Total		2,624,000			2,624,000
Accumulated Depreciation		$ (635,000)			(635,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,624,000
Deductions during year [Abstract]
Balance at close of year		635,000
Commercial Healthcare [Member] | Edgewood Vista - Belgrade, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					35,000
Buildings & Improvements					779,000
Costs capitalized subsequent to acquisition					21,000
Gross amount at which carried at close of period [Abstract]
Land					35,000
Buildings & Improvements					800,000
Total		835,000			835,000
Accumulated Depreciation		$ (140,000)			(140,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 835,000
Deductions during year [Abstract]
Balance at close of year		140,000
Commercial Healthcare [Member] | Edgewood Vista - Billings, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,785,000
Initial Cost to Company [Abstract]
Land					115,000
Buildings & Improvements					1,767,000
Costs capitalized subsequent to acquisition					66,000
Gross amount at which carried at close of period [Abstract]
Land					115,000
Buildings & Improvements					1,833,000
Total		1,948,000			1,948,000
Accumulated Depreciation		$ (323,000)			(323,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,948,000
Deductions during year [Abstract]
Balance at close of year		323,000
Commercial Healthcare [Member] | Edgewood Vista - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					511,000
Buildings & Improvements					9,193,000
Costs capitalized subsequent to acquisition					177,000
Gross amount at which carried at close of period [Abstract]
Land					511,000
Buildings & Improvements					9,370,000
Total		9,881,000			9,881,000
Accumulated Depreciation		$ (2,231,000)			(2,231,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,881,000
Deductions during year [Abstract]
Balance at close of year		2,231,000
Commercial Healthcare [Member] | Edgewood Vista - Brainerd, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					587,000
Buildings & Improvements					8,999,000
Costs capitalized subsequent to acquisition					134,000
Gross amount at which carried at close of period [Abstract]
Land					587,000
Buildings & Improvements					9,133,000
Total		9,720,000			9,720,000
Accumulated Depreciation		$ (2,184,000)			(2,184,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,720,000
Deductions during year [Abstract]
Balance at close of year		2,184,000
Commercial Healthcare [Member] | Edgewood Vista - Columbus, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					43,000
Buildings & Improvements					824,000
Costs capitalized subsequent to acquisition					24,000
Gross amount at which carried at close of period [Abstract]
Land					44,000
Buildings & Improvements					847,000
Total		891,000			891,000
Accumulated Depreciation		$ (148,000)			(148,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 891,000
Deductions during year [Abstract]
Balance at close of year		148,000
Commercial Healthcare [Member] | Edgewood Vista - East Grand Forks, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,718,000
Initial Cost to Company [Abstract]
Land					290,000
Buildings & Improvements					1,352,000
Costs capitalized subsequent to acquisition					59,000
Gross amount at which carried at close of period [Abstract]
Land					290,000
Buildings & Improvements					1,411,000
Total		1,701,000			1,701,000
Accumulated Depreciation		$ (251,000)			(251,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,701,000
Deductions during year [Abstract]
Balance at close of year		251,000
Commercial Healthcare [Member] | Edgewood Vista - Fargo, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				11,846,000
Initial Cost to Company [Abstract]
Land					775,000
Buildings & Improvements					20,870,000
Costs capitalized subsequent to acquisition					199,000
Gross amount at which carried at close of period [Abstract]
Land					775,000
Buildings & Improvements					21,069,000
Total		21,844,000			21,844,000
Accumulated Depreciation		$ (3,730,000)			(3,730,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,844,000
Deductions during year [Abstract]
Balance at close of year		3,730,000
Commercial Healthcare [Member] | Edgewood Vista - Fremont, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				550,000
Initial Cost to Company [Abstract]
Land					56,000
Buildings & Improvements					490,000
Costs capitalized subsequent to acquisition					54,000
Gross amount at which carried at close of period [Abstract]
Land					56,000
Buildings & Improvements					544,000
Total		600,000			600,000
Accumulated Depreciation		$ (179,000)			(179,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 600,000
Deductions during year [Abstract]
Balance at close of year		179,000
Commercial Healthcare [Member] | Edgewood Vista - Grand Island, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					33,000
Buildings & Improvements					773,000
Costs capitalized subsequent to acquisition					51,000
Gross amount at which carried at close of period [Abstract]
Land					39,000
Buildings & Improvements					818,000
Total		857,000			857,000
Accumulated Depreciation		$ (142,000)			(142,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 857,000
Deductions during year [Abstract]
Balance at close of year		142,000
Commercial Healthcare [Member] | Edgewood Vista - Hastings, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				567,000
Initial Cost to Company [Abstract]
Land					49,000
Buildings & Improvements					517,000
Costs capitalized subsequent to acquisition					63,000
Gross amount at which carried at close of period [Abstract]
Land					50,000
Buildings & Improvements					579,000
Total		629,000			629,000
Accumulated Depreciation		$ (197,000)			(197,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 629,000
Deductions during year [Abstract]
Balance at close of year		197,000
Commercial Healthcare [Member] | Edgewood Vista - Hermantown I, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				15,197,000
Initial Cost to Company [Abstract]
Land					288,000
Buildings & Improvements					9,871,000
Costs capitalized subsequent to acquisition					1,761,000
Gross amount at which carried at close of period [Abstract]
Land					288,000
Buildings & Improvements					11,632,000
Total		11,920,000			11,920,000
Accumulated Depreciation		$ (3,888,000)			(3,888,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,920,000
Deductions during year [Abstract]
Balance at close of year		3,888,000
Commercial Healthcare [Member] | Edgewood Vista - Hermantown II, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					719,000
Buildings & Improvements					10,517,000
Costs capitalized subsequent to acquisition					121,000
Gross amount at which carried at close of period [Abstract]
Land					719,000
Buildings & Improvements					10,638,000
Total		11,357,000			11,357,000
Accumulated Depreciation		$ (2,542,000)			(2,542,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,357,000
Deductions during year [Abstract]
Balance at close of year		2,542,000
Commercial Healthcare [Member] | Edgewood Vista - Kalispell, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				568,000
Initial Cost to Company [Abstract]
Land					70,000
Buildings & Improvements					502,000
Costs capitalized subsequent to acquisition					633,000
Gross amount at which carried at close of period [Abstract]
Land					70,000
Buildings & Improvements					1,135,000
Total		1,205,000			1,205,000
Accumulated Depreciation		$ (364,000)			(364,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,205,000
Deductions during year [Abstract]
Balance at close of year		364,000
Commercial Healthcare [Member] | Edgewood Vista - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				9,017,000
Initial Cost to Company [Abstract]
Land					1,045,000
Buildings & Improvements					11,590,000
Costs capitalized subsequent to acquisition					210,000
Gross amount at which carried at close of period [Abstract]
Land					1,047,000
Buildings & Improvements					11,798,000
Total		12,845,000			12,845,000
Accumulated Depreciation		$ (1,307,000)			(1,307,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,845,000
Deductions during year [Abstract]
Balance at close of year		1,307,000
Commercial Healthcare [Member] | Edgewood Vista - Missoula, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				807,000
Initial Cost to Company [Abstract]
Land					109,000
Buildings & Improvements					854,000
Costs capitalized subsequent to acquisition					94,000
Gross amount at which carried at close of period [Abstract]
Land					116,000
Buildings & Improvements					941,000
Total		1,057,000			1,057,000
Accumulated Depreciation		$ (412,000)			(412,000)
Date of Construction or Acquisition		1,996
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,057,000
Deductions during year [Abstract]
Balance at close of year		412,000
Commercial Healthcare [Member] | Edgewood Vista - Norfolk, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					42,000
Buildings & Improvements					722,000
Costs capitalized subsequent to acquisition					22,000
Gross amount at which carried at close of period [Abstract]
Land					42,000
Buildings & Improvements					744,000
Total		786,000			786,000
Accumulated Depreciation		$ (131,000)			(131,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 786,000
Deductions during year [Abstract]
Balance at close of year		131,000
Commercial Healthcare [Member] | Edgewood Vista - Omaha, NE [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				359,000
Initial Cost to Company [Abstract]
Land					89,000
Buildings & Improvements					547,000
Costs capitalized subsequent to acquisition					53,000
Gross amount at which carried at close of period [Abstract]
Land					89,000
Buildings & Improvements					600,000
Total		689,000			689,000
Accumulated Depreciation		$ (201,000)			(201,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 689,000
Deductions during year [Abstract]
Balance at close of year		201,000
Commercial Healthcare [Member] | Edgewood Vista - Sioux Falls, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,022,000
Initial Cost to Company [Abstract]
Land					314,000
Buildings & Improvements					974,000
Costs capitalized subsequent to acquisition					58,000
Gross amount at which carried at close of period [Abstract]
Land					314,000
Buildings & Improvements					1,032,000
Total		1,346,000			1,346,000
Accumulated Depreciation		$ (185,000)			(185,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,346,000
Deductions during year [Abstract]
Balance at close of year		185,000
Commercial Healthcare [Member] | Edgewood Vista - Spearfish, SD [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					315,000
Buildings & Improvements					8,584,000
Costs capitalized subsequent to acquisition					124,000
Gross amount at which carried at close of period [Abstract]
Land					330,000
Buildings & Improvements					8,693,000
Total		9,023,000			9,023,000
Accumulated Depreciation		$ (1,710,000)			(1,710,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,023,000
Deductions during year [Abstract]
Balance at close of year		1,710,000
Commercial Healthcare [Member] | Edgewood Vista - Virginia, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				12,927,000
Initial Cost to Company [Abstract]
Land					246,000
Buildings & Improvements					11,823,000
Costs capitalized subsequent to acquisition					313,000
Gross amount at which carried at close of period [Abstract]
Land					246,000
Buildings & Improvements					12,136,000
Total		12,382,000			12,382,000
Accumulated Depreciation		$ (3,669,000)			(3,669,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,382,000
Deductions during year [Abstract]
Balance at close of year		3,669,000
Commercial Healthcare [Member] | Edina 6363 France Medical - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				9,567,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					12,675,000
Costs capitalized subsequent to acquisition					2,906,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					15,581,000
Total		15,581,000			15,581,000
Accumulated Depreciation		$ (3,781,000)			(3,781,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 15,581,000
Deductions during year [Abstract]
Balance at close of year		3,781,000
Commercial Healthcare [Member] | Edina 6405 France Medical - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,145,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					12,201,000
Costs capitalized subsequent to acquisition					41,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					12,242,000
Total		12,242,000			12,242,000
Accumulated Depreciation		$ (2,969,000)			(2,969,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,242,000
Deductions during year [Abstract]
Balance at close of year		2,969,000
Commercial Healthcare [Member] | Edina 6517 Drew Avenue - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					353,000
Buildings & Improvements					660,000
Costs capitalized subsequent to acquisition					529,000
Gross amount at which carried at close of period [Abstract]
Land					372,000
Buildings & Improvements					1,170,000
Total		1,542,000			1,542,000
Accumulated Depreciation		$ (579,000)			(579,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,542,000
Deductions during year [Abstract]
Balance at close of year		579,000
Commercial Healthcare [Member] | Edina 6525 Drew Avenue - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					388,000
Buildings & Improvements					117,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					388,000
Buildings & Improvements					117,000
Total		505,000			505,000
Accumulated Depreciation		$ (10,000)			(10,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 505,000
Deductions during year [Abstract]
Balance at close of year		10,000
Commercial Healthcare [Member] | Edina 6525 France SMC II - Edina, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				9,803,000
Initial Cost to Company [Abstract]
Land					755,000
Buildings & Improvements					8,054,000
Costs capitalized subsequent to acquisition					5,723,000
Gross amount at which carried at close of period [Abstract]
Land					1,040,000
Buildings & Improvements					13,492,000
Total		14,532,000			14,532,000
Accumulated Depreciation		$ (5,874,000)			(5,874,000)
Date of Construction or Acquisition		2,003
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 14,532,000
Deductions during year [Abstract]
Balance at close of year		5,874,000
Commercial Healthcare [Member] | Edina 6545 France SMC I - Edina MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				29,622,000
Initial Cost to Company [Abstract]
Land					3,480,000
Buildings & Improvements					30,192,000
Costs capitalized subsequent to acquisition					14,423,000
Gross amount at which carried at close of period [Abstract]
Land					3,480,000
Buildings & Improvements					44,615,000
Total		48,095,000			48,095,000
Accumulated Depreciation		$ (17,035,000)			(17,035,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 48,095,000
Deductions during year [Abstract]
Balance at close of year		17,035,000
Commercial Healthcare [Member] | Fresenius - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				576,000
Initial Cost to Company [Abstract]
Land					50,000
Buildings & Improvements					1,520,000
Costs capitalized subsequent to acquisition					2,000
Gross amount at which carried at close of period [Abstract]
Land					50,000
Buildings & Improvements					1,522,000
Total		1,572,000			1,572,000
Accumulated Depreciation		$ (420,000)			(420,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,572,000
Deductions during year [Abstract]
Balance at close of year		420,000
Commercial Healthcare [Member] | Garden View - St. Paul, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					7,408,000
Costs capitalized subsequent to acquisition					898,000
Gross amount at which carried at close of period [Abstract]
Land					26,000
Buildings & Improvements					8,280,000
Total		8,306,000			8,306,000
Accumulated Depreciation		$ (2,723,000)			(2,723,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,306,000
Deductions during year [Abstract]
Balance at close of year		2,723,000
Commercial Healthcare [Member] | Gateway Clinic - Sandstone, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				828,000
Initial Cost to Company [Abstract]
Land					66,000
Buildings & Improvements					1,699,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					66,000
Buildings & Improvements					1,699,000
Total		1,765,000			1,765,000
Accumulated Depreciation		$ (469,000)			(469,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,765,000
Deductions during year [Abstract]
Balance at close of year		469,000
Commercial Healthcare [Member] | Healtheast St John & Woodwinds - Maplewood & Woodbury, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				7,366,000
Initial Cost to Company [Abstract]
Land					3,239,000
Buildings & Improvements					18,362,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					3,239,000
Buildings & Improvements					18,362,000
Total		21,601,000			21,601,000
Accumulated Depreciation		$ (6,867,000)			(6,867,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 21,601,000
Deductions during year [Abstract]
Balance at close of year		6,867,000
Commercial Healthcare [Member] | High Pointe Health Campus - Lake Elmo, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				7,500,000
Initial Cost to Company [Abstract]
Land					1,305,000
Buildings & Improvements					10,528,000
Costs capitalized subsequent to acquisition					2,091,000
Gross amount at which carried at close of period [Abstract]
Land					1,329,000
Buildings & Improvements					12,595,000
Total		13,924,000			13,924,000
Accumulated Depreciation		$ (3,750,000)			(3,750,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,924,000
Deductions during year [Abstract]
Balance at close of year		3,750,000
Commercial Healthcare [Member] | Laramie 1072 N 22nd Street (Spring Wind) - Laramie, WY [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				406,000
Buildings & Improvements	[6]				10,151,000
Costs capitalized subsequent to acquisition	[6]				27,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				406,000
Buildings & Improvements	[6]				10,178,000
Total	[6]	10,584,000			10,584,000
Accumulated Depreciation	[6]	$ (1,251,000)			(1,251,000)
Date of Construction or Acquisition	[6]	2,009
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 10,584,000
Deductions during year [Abstract]
Balance at close of year	[6]	1,251,000
Commercial Healthcare [Member] | Legends at Heritage Place - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					970,000
Buildings & Improvements					9,920,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					970,000
Buildings & Improvements					9,920,000
Total		10,890,000			10,890,000
Accumulated Depreciation		$ (382,000)			(382,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,890,000
Deductions during year [Abstract]
Balance at close of year		382,000
Commercial Healthcare [Member] | Mariner Clinic - Superior, WI [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,811,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					3,781,000
Costs capitalized subsequent to acquisition					90,000
Gross amount at which carried at close of period [Abstract]
Land					20,000
Buildings & Improvements					3,851,000
Total		3,871,000			3,871,000
Accumulated Depreciation		$ (1,077,000)			(1,077,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,871,000
Deductions during year [Abstract]
Balance at close of year		1,077,000
Commercial Healthcare [Member] | Minneapolis 701 25th Avenue Medical - Minneapolis, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				7,196,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					7,873,000
Costs capitalized subsequent to acquisition					1,566,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					9,439,000
Total		9,439,000			9,439,000
Accumulated Depreciation		$ (1,837,000)			(1,837,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,439,000
Deductions during year [Abstract]
Balance at close of year		1,837,000
Commercial Healthcare [Member] | Missoula 3050 Great Northern - Missoula, MT [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,267,000
Initial Cost to Company [Abstract]
Land					640,000
Buildings & Improvements					1,331,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					640,000
Buildings & Improvements					1,331,000
Total		1,971,000			1,971,000
Accumulated Depreciation		$ (159,000)			(159,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,971,000
Deductions during year [Abstract]
Balance at close of year		159,000
Commercial Healthcare [Member] | Park Dental - Brooklyn Center, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				247,000
Initial Cost to Company [Abstract]
Land					185,000
Buildings & Improvements					2,767,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					185,000
Buildings & Improvements					2,767,000
Total		2,952,000			2,952,000
Accumulated Depreciation		$ (873,000)			(873,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,952,000
Deductions during year [Abstract]
Balance at close of year		873,000
Commercial Healthcare [Member] | Pavilion I - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				4,773,000
Initial Cost to Company [Abstract]
Land					1,245,000
Buildings & Improvements					8,898,000
Costs capitalized subsequent to acquisition					31,000
Gross amount at which carried at close of period [Abstract]
Land					1,245,000
Buildings & Improvements					8,929,000
Total		10,174,000			10,174,000
Accumulated Depreciation		$ (2,445,000)			(2,445,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 10,174,000
Deductions during year [Abstract]
Balance at close of year		2,445,000
Commercial Healthcare [Member] | Pavilion II - Duluth, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				8,783,000
Initial Cost to Company [Abstract]
Land					2,715,000
Buildings & Improvements					14,673,000
Costs capitalized subsequent to acquisition					1,937,000
Gross amount at which carried at close of period [Abstract]
Land					2,715,000
Buildings & Improvements					16,610,000
Total		19,325,000			19,325,000
Accumulated Depreciation		$ (5,788,000)			(5,788,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 19,325,000
Deductions during year [Abstract]
Balance at close of year		5,788,000
Commercial Healthcare [Member] | Ritchie Medical Plaza - St Paul, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				5,980,000
Initial Cost to Company [Abstract]
Land					1,615,000
Buildings & Improvements					7,851,000
Costs capitalized subsequent to acquisition					3,611,000
Gross amount at which carried at close of period [Abstract]
Land					1,647,000
Buildings & Improvements					11,430,000
Total		13,077,000			13,077,000
Accumulated Depreciation		$ (2,880,000)			(2,880,000)
Date of Construction or Acquisition		2,005
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 13,077,000
Deductions during year [Abstract]
Balance at close of year		2,880,000
Commercial Healthcare [Member] | Sartell 2000 23rd Street South - Sartell, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,593,000
Initial Cost to Company [Abstract]
Land					0
Buildings & Improvements					11,781,000
Costs capitalized subsequent to acquisition					934,000
Gross amount at which carried at close of period [Abstract]
Land					0
Buildings & Improvements					12,715,000
Total		12,715,000			12,715,000
Accumulated Depreciation		$ (4,101,000)			(4,101,000)
Date of Construction or Acquisition		2,002
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 12,715,000
Deductions during year [Abstract]
Balance at close of year		4,101,000
Commercial Healthcare [Member] | Spring Creek American Falls- American Falls, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,086,000
Initial Cost to Company [Abstract]
Land					145,000
Buildings & Improvements					3,870,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					145,000
Buildings & Improvements					3,870,000
Total		4,015,000			4,015,000
Accumulated Depreciation		$ (404,000)			(404,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,015,000
Deductions during year [Abstract]
Balance at close of year		404,000
Commercial Healthcare [Member] | Spring Creek-Boise - Boise, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				2,751,000
Initial Cost to Company [Abstract]
Land					708,000
Buildings & Improvements					4,296,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					708,000
Buildings & Improvements					4,296,000
Total		5,004,000			5,004,000
Accumulated Depreciation		$ (482,000)			(482,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,004,000
Deductions during year [Abstract]
Balance at close of year		482,000
Commercial Healthcare [Member] | Spring Creek-Eagle - Eagle, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,919,000
Initial Cost to Company [Abstract]
Land					263,000
Buildings & Improvements					3,775,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					263,000
Buildings & Improvements					3,775,000
Total		4,038,000			4,038,000
Accumulated Depreciation		$ (396,000)			(396,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,038,000
Deductions during year [Abstract]
Balance at close of year		396,000
Commercial Healthcare [Member] | Spring Creek Fruitland - Fruitland, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					550,000
Buildings & Improvements					6,565,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					550,000
Buildings & Improvements					6,565,000
Total		7,115,000			7,115,000
Accumulated Depreciation		$ (260,000)			(260,000)
Date of Construction or Acquisition		2,014
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,115,000
Deductions during year [Abstract]
Balance at close of year		260,000
Commercial Healthcare [Member] | Spring Creek-Meridian - Meridian, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,171,000
Initial Cost to Company [Abstract]
Land					424,000
Buildings & Improvements					6,724,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					424,000
Buildings & Improvements					6,724,000
Total		7,148,000			7,148,000
Accumulated Depreciation		$ (698,000)			(698,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,148,000
Deductions during year [Abstract]
Balance at close of year		698,000
Commercial Healthcare [Member] | Spring Creek-Overland - Overland, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				3,106,000
Initial Cost to Company [Abstract]
Land					687,000
Buildings & Improvements					5,942,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					687,000
Buildings & Improvements					5,942,000
Total		6,629,000			6,629,000
Accumulated Depreciation		$ (644,000)			(644,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,629,000
Deductions during year [Abstract]
Balance at close of year		644,000
Commercial Healthcare [Member] | Spring Creek-Soda Springs - Soda Springs, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				751,000
Initial Cost to Company [Abstract]
Land					66,000
Buildings & Improvements					2,124,000
Costs capitalized subsequent to acquisition					33,000
Gross amount at which carried at close of period [Abstract]
Land					66,000
Buildings & Improvements					2,157,000
Total		2,223,000			2,223,000
Accumulated Depreciation		$ (228,000)			(228,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,223,000
Deductions during year [Abstract]
Balance at close of year		228,000
Commercial Healthcare [Member] | Spring Creek-Ustick - Meridian, ID [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					467,000
Buildings & Improvements					3,833,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					467,000
Buildings & Improvements					3,833,000
Total		4,300,000			4,300,000
Accumulated Depreciation		$ (370,000)			(370,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 4,300,000
Deductions during year [Abstract]
Balance at close of year		370,000
Commercial Healthcare [Member] | St Michael Clinic - St Michael, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,795,000
Initial Cost to Company [Abstract]
Land					328,000
Buildings & Improvements					2,259,000
Costs capitalized subsequent to acquisition					264,000
Gross amount at which carried at close of period [Abstract]
Land					328,000
Buildings & Improvements					2,523,000
Total		2,851,000			2,851,000
Accumulated Depreciation		$ (510,000)			(510,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,851,000
Deductions during year [Abstract]
Balance at close of year		510,000
Commercial Healthcare [Member] | Trinity at Plaza 16 - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				4,718,000
Initial Cost to Company [Abstract]
Land					568,000
Buildings & Improvements					9,009,000
Costs capitalized subsequent to acquisition					125,000
Gross amount at which carried at close of period [Abstract]
Land					674,000
Buildings & Improvements					9,028,000
Total		9,702,000			9,702,000
Accumulated Depreciation		$ (820,000)			(820,000)
Date of Construction or Acquisition		2,011
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,702,000
Deductions during year [Abstract]
Balance at close of year		820,000
Commercial Healthcare [Member] | Wells Clinic - Hibbing, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,263,000
Initial Cost to Company [Abstract]
Land					162,000
Buildings & Improvements					2,497,000
Costs capitalized subsequent to acquisition					2,000
Gross amount at which carried at close of period [Abstract]
Land					162,000
Buildings & Improvements					2,499,000
Total		2,661,000			2,661,000
Accumulated Depreciation		$ (690,000)			(690,000)
Date of Construction or Acquisition		2,004
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,661,000
Deductions during year [Abstract]
Balance at close of year		690,000
Commercial Healthcare [Member] | Wholly Owned Properties [Member]
Reconciliations of total real estate carrying value [Abstract]
Additions		0	18,005,000	11,122,000
Industrial [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				12,404,000
Initial Cost to Company [Abstract]
Land					9,040,000
Buildings & Improvements					43,081,000
Costs capitalized subsequent to acquisition					8,490,000
Gross amount at which carried at close of period [Abstract]
Land					9,336,000
Buildings & Improvements					51,275,000
Total		60,611,000			60,611,000
Accumulated Depreciation		(11,256,000)			(11,256,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		60,611,000
Deductions during year [Abstract]
Balance at close of year		11,256,000
Industrial [Member] | Bloomington 2000 W 94th Street - Bloomington, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				2,133,000
Buildings & Improvements	[6]				4,097,000
Costs capitalized subsequent to acquisition	[6]				1,217,000
Gross amount at which carried at close of period [Abstract]
Land	[6]				2,204,000
Buildings & Improvements	[6]				5,243,000
Total	[6]	7,447,000			7,447,000
Accumulated Depreciation	[6]	$ (1,423,000)			(1,423,000)
Date of Construction or Acquisition	[6]	2,006
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 7,447,000
Deductions during year [Abstract]
Balance at close of year	[6]	1,423,000
Industrial [Member] | Lexington Commerce Center - Eagan, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				1,604,000
Initial Cost to Company [Abstract]
Land					453,000
Buildings & Improvements					4,352,000
Costs capitalized subsequent to acquisition					1,977,000
Gross amount at which carried at close of period [Abstract]
Land					480,000
Buildings & Improvements					6,302,000
Total		6,782,000			6,782,000
Accumulated Depreciation		$ (2,831,000)			(2,831,000)
Date of Construction or Acquisition		1,999
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 6,782,000
Deductions during year [Abstract]
Balance at close of year		2,831,000
Industrial [Member] | Minot IPS - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1],[6]				0
Initial Cost to Company [Abstract]
Land	[6]				416,000
Buildings & Improvements	[6]				5,952,000
Costs capitalized subsequent to acquisition	[6]				0
Gross amount at which carried at close of period [Abstract]
Land	[6]				416,000
Buildings & Improvements	[6]				5,952,000
Total	[6]	6,368,000			6,368,000
Accumulated Depreciation	[6]	$ (374,000)			(374,000)
Date of Construction or Acquisition	[6]	2,012
Life on which depreciation in latest income statement is computed	[6]	40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year	[6]	$ 6,368,000
Deductions during year [Abstract]
Balance at close of year	[6]	374,000
Industrial [Member] | Stone Container - Fargo, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				382,000
Initial Cost to Company [Abstract]
Land					440,000
Buildings & Improvements					6,597,000
Costs capitalized subsequent to acquisition					104,000
Gross amount at which carried at close of period [Abstract]
Land					440,000
Buildings & Improvements					6,701,000
Total		7,141,000			7,141,000
Accumulated Depreciation		$ (2,943,000)			(2,943,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 7,141,000
Deductions during year [Abstract]
Balance at close of year		2,943,000
Industrial [Member] | Roseville 3075 Long Lake Road - Roseville, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					810,000
Buildings & Improvements					9,562,000
Costs capitalized subsequent to acquisition					1,326,000
Gross amount at which carried at close of period [Abstract]
Land					810,000
Buildings & Improvements					10,888,000
Total		11,698,000			11,698,000
Accumulated Depreciation		$ (145,000)			(145,000)
Date of Construction or Acquisition		2,001
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,698,000
Deductions during year [Abstract]
Balance at close of year		145,000
Industrial [Member] | Urbandale 3900 106th Street - Urbandale, IA [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				10,418,000
Initial Cost to Company [Abstract]
Land					3,680,000
Buildings & Improvements					9,893,000
Costs capitalized subsequent to acquisition					1,982,000
Gross amount at which carried at close of period [Abstract]
Land					3,863,000
Buildings & Improvements					11,692,000
Total		15,555,000			15,555,000
Accumulated Depreciation		$ (2,553,000)			(2,553,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 15,555,000
Deductions during year [Abstract]
Balance at close of year		2,553,000
Industrial [Member] | Woodbury 1865 Woodlane - Woodbury, MN [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				0
Initial Cost to Company [Abstract]
Land					1,108,000
Buildings & Improvements					2,628,000
Costs capitalized subsequent to acquisition					1,884,000
Gross amount at which carried at close of period [Abstract]
Land					1,123,000
Buildings & Improvements					4,497,000
Total		5,620,000			5,620,000
Accumulated Depreciation		$ (987,000)			(987,000)
Date of Construction or Acquisition		2,007
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 5,620,000
Deductions during year [Abstract]
Balance at close of year		987,000
Industrial [Member] | Wholly Owned Properties [Member]
Reconciliations of total real estate carrying value [Abstract]
Additions		9,037,000	0	5,900,000
Other Property [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					11,685,000
Initial Cost to Company [Abstract]
Land					3,640,000
Buildings & Improvements					24,933,000
Costs capitalized subsequent to acquisition					15,642,000
Gross amount at which carried at close of period [Abstract]
Land					4,057,000
Buildings & Improvements					40,158,000
Total		44,215,000			44,215,000
Accumulated Depreciation		(9,123,000)			(9,123,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		44,215,000
Deductions during year [Abstract]
Balance at close of year		9,123,000
Other Property [Member] | 1st Avenue Building - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					30,000
Buildings & Improvements					337,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					30,000
Buildings & Improvements					337,000
Total		367,000			367,000
Accumulated Depreciation		$ (41,000)			(41,000)
Date of Construction or Acquisition		1,981
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 367,000
Deductions during year [Abstract]
Balance at close of year		$ 41,000
Other Property [Member] | 1st Avenue Building - Minot, ND [Member] | Minimum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		33 years
Other Property [Member] | 1st Avenue Building - Minot, ND [Member] | Maximum [Member]
Gross amount at which carried at close of period [Abstract]
Life on which depreciation in latest income statement is computed		40 years
Other Property [Member] | Bismarck 715 East Broadway - Bismarck, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					2,103,000
Initial Cost to Company [Abstract]
Land					389,000
Buildings & Improvements					1,283,000
Costs capitalized subsequent to acquisition					1,126,000
Gross amount at which carried at close of period [Abstract]
Land					443,000
Buildings & Improvements					2,355,000
Total		$ 2,798,000			2,798,000
Accumulated Depreciation		$ (458,000)			(458,000)
Date of Construction or Acquisition		2,008
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,798,000
Deductions during year [Abstract]
Balance at close of year		458,000
Other Property [Member] | Minot 1400 31st Ave - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					1,026,000
Buildings & Improvements					6,143,000
Costs capitalized subsequent to acquisition					4,404,000
Gross amount at which carried at close of period [Abstract]
Land					1,038,000
Buildings & Improvements					10,535,000
Total		11,573,000			11,573,000
Accumulated Depreciation		$ (2,287,000)			(2,287,000)
Date of Construction or Acquisition		2,010
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 11,573,000
Deductions during year [Abstract]
Balance at close of year		2,287,000
Other Property [Member] | Minot 2505 16th Street SW - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					298,000
Buildings & Improvements					1,724,000
Costs capitalized subsequent to acquisition					296,000
Gross amount at which carried at close of period [Abstract]
Land					298,000
Buildings & Improvements					2,020,000
Total		2,318,000			2,318,000
Accumulated Depreciation		$ (275,000)			(275,000)
Date of Construction or Acquisition		2,009
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,318,000
Deductions during year [Abstract]
Balance at close of year		275,000
Other Property [Member] | Plaza 16 - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					7,098,000
Initial Cost to Company [Abstract]
Land					389,000
Buildings & Improvements					5,444,000
Costs capitalized subsequent to acquisition					3,859,000
Gross amount at which carried at close of period [Abstract]
Land					598,000
Buildings & Improvements					9,094,000
Total		9,692,000			9,692,000
Accumulated Depreciation		$ (2,041,000)			(2,041,000)
Date of Construction or Acquisition		2,009
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 9,692,000
Deductions during year [Abstract]
Balance at close of year		2,041,000
Other Property [Member] | 17 South Main - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					75,000
Initial Cost to Company [Abstract]
Land					15,000
Buildings & Improvements					75,000
Costs capitalized subsequent to acquisition					197,000
Gross amount at which carried at close of period [Abstract]
Land					17,000
Buildings & Improvements					270,000
Total		287,000			287,000
Accumulated Depreciation		$ (202,000)			(202,000)
Date of Construction or Acquisition		2,000
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 287,000
Deductions during year [Abstract]
Balance at close of year		202,000
Other Property [Member] | Arrowhead First International Bank - Minot ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					75,000
Buildings & Improvements					1,211,000
Costs capitalized subsequent to acquisition					20,000
Gross amount at which carried at close of period [Abstract]
Land					95,000
Buildings & Improvements					1,211,000
Total		1,306,000			1,306,000
Accumulated Depreciation		$ (65,000)			(65,000)
Date of Construction or Acquisition		2,013
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 1,306,000
Deductions during year [Abstract]
Balance at close of year		65,000
Other Property [Member] | Dakota West Plaza - Minot , ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					347,000
Initial Cost to Company [Abstract]
Land					92,000
Buildings & Improvements					493,000
Costs capitalized subsequent to acquisition					30,000
Gross amount at which carried at close of period [Abstract]
Land					106,000
Buildings & Improvements					509,000
Total		615,000			615,000
Accumulated Depreciation		$ (122,000)			(122,000)
Date of Construction or Acquisition		2,006
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 615,000
Deductions during year [Abstract]
Balance at close of year		122,000
Other Property [Member] | Grand Forks Carmike - Grand Forks, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					1,304,000
Initial Cost to Company [Abstract]
Land					184,000
Buildings & Improvements					2,360,000
Costs capitalized subsequent to acquisition					2,000
Gross amount at which carried at close of period [Abstract]
Land					184,000
Buildings & Improvements					2,362,000
Total		2,546,000			2,546,000
Accumulated Depreciation		$ (1,211,000)			(1,211,000)
Date of Construction or Acquisition		1,994
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 2,546,000
Deductions during year [Abstract]
Balance at close of year		1,211,000
Other Property [Member] | Minot Arrowhead - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					100,000
Buildings & Improvements					3,216,000
Costs capitalized subsequent to acquisition					5,553,000
Gross amount at which carried at close of period [Abstract]
Land					176,000
Buildings & Improvements					8,693,000
Total		8,869,000			8,869,000
Accumulated Depreciation		$ (2,058,000)			(2,058,000)
Date of Construction or Acquisition		1,973
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 8,869,000
Deductions during year [Abstract]
Balance at close of year		2,058,000
Other Property [Member] | Minot Plaza - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					758,000
Initial Cost to Company [Abstract]
Land					50,000
Buildings & Improvements					453,000
Costs capitalized subsequent to acquisition					155,000
Gross amount at which carried at close of period [Abstract]
Land					80,000
Buildings & Improvements					578,000
Total		658,000			658,000
Accumulated Depreciation		$ (339,000)			(339,000)
Date of Construction or Acquisition		1,993
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 658,000
Deductions during year [Abstract]
Balance at close of year		339,000
Other Property [Member] | Minot Southgate Wells Fargo Bank - Minot, ND [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances					0
Initial Cost to Company [Abstract]
Land					992,000
Buildings & Improvements					2,194,000
Costs capitalized subsequent to acquisition					0
Gross amount at which carried at close of period [Abstract]
Land					992,000
Buildings & Improvements					2,194,000
Total		3,186,000			3,186,000
Accumulated Depreciation		$ (24,000)			(24,000)
Date of Construction or Acquisition		2,014
Life on which depreciation in latest income statement is computed		40 years
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		$ 3,186,000
Deductions during year [Abstract]
Balance at close of year		24,000
Other Property [Member] | Wholly Owned Properties [Member]
Reconciliations of total real estate carrying value [Abstract]
Additions		3,186,000	$ 0	$ 1,240,000
Subtotal [Member]
Real Estate And Accumulated Depreciation [Abstract]
Encumbrances	[1]				667,544,000
Initial Cost to Company [Abstract]
Land					111,612,000
Buildings & Improvements					1,223,659,000
Costs capitalized subsequent to acquisition					211,096,000
Gross amount at which carried at close of period [Abstract]
Land					129,513,000
Buildings & Improvements					1,416,854,000
Total		1,546,367,000			1,546,367,000
Accumulated Depreciation		(313,308,000)			$ (313,308,000)
Reconciliations of total real estate carrying value [Abstract]
Balance at close of year		1,546,367,000
Deductions during year [Abstract]
Balance at close of year		$ 313,308,000
[1]	Amounts in this column are the mortgages payable balances as of April 30, 2015. These amounts do not include amounts owing under the Company's multi-bank line of credit or under the Company's construction loans.
[2]	The net basis of the Company's real estate investments for Federal Income Tax purposes was $1.7 billion, $1.5 billion and $1.5 billion at April 30, 2015, 2014 and 2013, respectively.
[3]	Consists of miscellaneous disposed assets.
[4]	Includes development projects that are placed in service in phases.
[5]	Consists of miscellaneous re-classed assets.
[6]	As of April 30, 2015, this property was included in the collateral pool securing the Company's $90.0 million multi-bank line of credit. The Company may add and remove eligible properties from the collateral pool if certain minimum collateral requirements are satisfied. Advances under the facility may not exceed 60% of the value of properties provided as security.