SB Partners 10-K 28 Mar 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Jun. 30, 2018
Document Information [Line Items]
Entity Registrant Name	SB PARTNERS
Entity Central Index Key	0000087047
Trading Symbol	sbp
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)	0
Entity Public Float		$ 0
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Assets:
Land	$ 470,000	$ 470,000
Buildings, furnishings and improvements	5,239,859	5,081,365
Less - accumulated depreciation	(2,249,190)	(2,084,846)
	3,460,669	3,466,519
Investment in Sentinel Omaha, LLC, net of reserve for fair value of $10,709,724 and $12,526,608 at December 31, 2018 and 2017, respectively	42,838,890	37,579,824
	46,299,559	41,046,343
Other Assets -
Cash and cash equivalents	338,239	1,449,927
Cash in escrow		504,778
Other	7,789	7,019
Total assets	46,645,587	43,008,067
Liabilities:
Loan payable, net of unamortized deferred finance costs of $ 0 and $7,279 as of December 31, 2018 and 2017, respectively		5,719,311
Accounts payable	561,800	516,793
Tenant security deposit	104,212	101,414
Accrued expenses	3,408,317	2,922,943
Total liabilities	4,074,329	9,260,461
Partners' Equity (Deficit):
Limited partner - 7,753 units	42,584,203	33,761,689
General partner - 1 unit	(12,945)	(14,083)
Total partners' equity	42,571,258	33,747,606
Total liabilities and partners' equity	$ 46,645,587	$ 43,008,067

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Investment in Sentinel Omaha, LLC, reserve for fair value	$ 10,709,724	$ 12,526,608
Deferred finance costs	$ 0	$ 7,279
Limited partner - units (in shares)	7,753	7,753
General partner - units (in shares)	1	1

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Base rental income	$ 746,115	$ 724,140	$ 702,768
Other rental income	348,163	349,818	352,952
Interest on short-term investments and other	16,178	7,177	3,624
Total revenues	1,110,456	1,081,135	1,059,344
Expenses:
Real estate operating expenses	304,672	281,796	286,536
Amortization of deferred financing costs	7,280	21,839	21,840
Depreciation	164,344	157,520	157,344
Real estate taxes	121,868	123,525	126,662
Management fees	911,615	888,325	867,859
Other	129,967	124,329	131,157
Total expenses	1,639,746	1,597,334	1,591,398
Loss from operations	(529,290)	(516,199)	(532,054)
Equity in net income of investment	5,842,182	11,320,037	9,894,743
Adjustment to reserve for value of investment	1,816,884	1,048,630	870,588
Income from continuing operations	7,129,776	11,852,468	10,233,277
Gain on extinguishment of debt	1,693,876
Net income	8,823,652	11,852,468	10,233,277
Income allocated to general partner	1,138	1,529	1,320
Income allocated to limited partners	$ 8,822,514	$ 11,850,939	$ 10,231,957
Income per unit of limited partnership interest (basic and diluted)
Income from continuing operations (in dollars per share)	$ 919.62	$ 1,528.76	$ 1,319.91
Gain on extinguishment of debt (in dollars per share)	218.48
Net income (in dollars per share)	$ 1,138.10	$ 1,528.76	$ 1,319.91
Weighted Average Number of Units of Limited Partnership Interest Outstanding (in shares)	7,753	7,753	7,753

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Equity (Deficit) - USD ($)	Limited Partner [Member]Units of Partnership [Member]	Limited Partner [Member]Cumulative Cash Distributions [Member]	Limited Partner [Member]Retained Earnings [Member]	Limited Partner [Member]	General Partner [Member]Units of Partnership [Member]	General Partner [Member]Cumulative Cash Distributions [Member]	General Partner [Member]Retained Earnings [Member]	General Partner [Member]	Total
Balance (in shares) at Dec. 31, 2015	7,753				1
Balance at Dec. 31, 2015	$ 119,968,973	$ (111,721,586)	$ 3,431,406	$ 11,678,793	$ 10,000	$ (26,364)	$ (568)	$ (16,932)
Net income (loss) for the year			10,231,957	10,231,957			1,320	1,320	$ 10,233,277
Balance (in shares) at Dec. 31, 2016	7,753				1
Balance at Dec. 31, 2016	$ 119,968,973	(111,721,586)	13,663,363	21,910,750	$ 10,000	(26,364)	752	(15,612)
Net income (loss) for the year			11,850,939	11,850,939			1,529	1,529	11,852,468
Balance (in shares) at Dec. 31, 2017	7,753				1
Balance at Dec. 31, 2017	$ 119,968,973	(111,721,586)	25,514,302	33,761,689	$ 10,000	(26,364)	2,281	(14,083)	33,747,606
Net income (loss) for the year			8,822,514	8,822,514			1,138	1,138	8,823,652
Balance (in shares) at Dec. 31, 2018	7,753				1
Balance at Dec. 31, 2018	$ 119,968,973	$ (111,721,586)	$ 34,336,816	$ 42,584,203	$ 10,000	$ (26,364)	$ 3,419	$ (12,945)	$ 42,571,258

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows From Operating Activities:
Net income	$ 8,823,652	$ 11,852,468	$ 10,233,277
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on extinguishment of debt	(1,693,876)
Equity in net income of investment	(5,842,182)	(11,320,037)	(9,894,743)
Adjustment of reserve for fair value of investment	(1,816,884)	(1,048,630)	(870,588)
Depreciation and amortization	171,624	179,359	179,184
Net (increase) decrease in other assets	(770)	344	6,524
Net increase in accounts payable	45,007	97,038	49,546
Net increase in tenant security deposit	2,798	2,798	2,798
Net increase in accrued expenses	485,374	462,086	441,617
Distribution from investment in Sentinel Omaha, LLC	2,400,000
Net cash provided by operating activities	2,574,742	225,426	147,615
Cash Flows From Investing Activities:
Capital additions to real estate owned	(158,494)	(65,180)
Net cash (used in) investing activities	(158,494)	(65,180)
Cash Flows From Financing Activities:
Repayment of loan payable	(4,032,714)	(33,883)	(226,415)
Net cash (used in) financing activities	(4,032,714)	(33,883)	(226,415)
Net change in cash and cash equivalents, restricted cash and cash in escrow	(1,616,466)	126,363	(78,800)
Cash and cash equivalents, restricted cash and cash in escrow, at beginning of year	1,954,705	1,828,342	1,907,142
Cash and cash equivalents, restricted cash and cash in escrow, at end of year	338,239	1,954,705	1,828,342
Supplemental disclosure of cash flow information:
Cash paid during the year for interest

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	( 1 SB Partners, a New York limited partnership, and its subsidiaries (collectively, the "Partnership"), have been engaged since April 1971 The significant accounting and financial reporting policies of the Partnership are as follows: (a) The accompanying consolidated financial statements include the accounts of SB Partners and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The consolidated financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Revenues are recognized as earned and expenses are recognized as incurred. The preparation of financial statements in conformity with such principles 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. (b) In connection with the mortgage financing on certain of its properties, the Partnership placed the assets and liabilities of the properties into single asset limited partnerships, limited liability companies or land trusts which hold title to the properties. The Partnership has effective control over such entities and holds 100% (c) Depreciation of buildings, furnishings and improvements is computed using the straight-line method of depreciation, based upon the estimated useful lives of the related properties, as follows: Buildings and Improvements (years) 5 to 40 Furnishings (years) 5 to 7 Investments in real estate are carried at historical cost and reviewed periodically for impairment. Expenditures for maintenance and repairs are expensed as incurred. Expenditures for improvements, renewals and betterments, which increase the useful life of the real estate, are capitalized. Upon retirement or sale of property, the related cost and accumulated depreciation are removed from the accounts. Amortization of deferred financing and refinancing costs is computed by amortizing the cost on a straight-line basis over the terms of the related mortgage notes. (d) Real estate properties are regularly evaluated on a property by property basis to determine if it is appropriate to write down carrying values to recognize an impairment of value. Impairment is determined by calculating the sum of the estimated undiscounted future cash flows including the projected undiscounted future net proceeds from the sale of the property. In the event such sum is less than the net carrying value of the property, the property will be written down to estimated fair value. Based on the Partnership’s long-term hold strategy for its investments in real estate, the carrying value of its property at December 31, 2018 (e) Real estate held for sale is carried at the lower of cost or fair value less selling costs. Upon determination that a property is held for sale, depreciation of such property is no (f) For financial reporting purposes, the Partnership considers all highly liquid, short-term investments with original maturities of three not not (g) The Partnership accounts for its investment in Sentinel Omaha, LLC at fair value. Determination of the fair value of Omaha involves numerous estimates and subjective judgments that are subject to change in response to current and future economic and market conditions, including, among other things, demand for residential apartments, competition, and operating cost levels such as labor, energy costs and real estate taxes. Judgments regarding these factors are not may 5 6 (h) Tenant leases at the multifamily properties owned by Omaha generally have terms of one one (i) Gains on sales of investments in real estate are recognized in accordance with accounting principles generally accepted in the United States of America applicable to sales of real estate which require minimum levels of initial and continuing investment by the purchaser, and certain other tests be met, prior to the full recognition of profit at the time of the sale. When the tests are not (j) Each partner is individually responsible for reporting its share of the Partnership's taxable income or loss. Accordingly, no (k) Net income per unit of partnership interest has been computed based on the weighted average number of units of partnership interest outstanding during each year. There were no (l) The Partnership is engaged in only one not not

Note 2 - Recently Adopted Accou

Note 2 - Recently Adopted Accounting Pronouncements	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	( 2 In May 2014, No. 2014 9, Revenue from Contracts with Customers 2014 9 2014 9, December 15, 2017. 2014 9 January 1, 2018 2014 9 Leases (Topic 840 2014 9 January 1, 2018 not In August 2016, No. 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15 2016 15 December 15, 2017. 2016 15 eight 2016 15 January 1, 2018 2016 15 January 1, 2018 not In November 2016, No. 2016 18, Restricted Cash 2016 18 2016 18 2016 18 December 15, 2017. 2016 18 January 1, 2018. 2016 18 December 31, 2017 2016 $504,778 $501,145,

Note 3 - Investment Management

Note 3 - Investment Management Agreement	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Investment Management Agreement [Text Block]	( 3 The Partnership entered into a management agreement with the General Partner. Under the terms of this agreement, the General Partner is responsible for the acquisition, management and disposition of all investments, as well as performance of the day-to-day administrative operations and provision of office space for the Partnership. For these services, the General Partner receives a management fee equal to 2% 0.5% not $911,615, $888,325 $867,859 December 31, 2018, 2017, 2016, 2018, 2017 2016, $485,375, $462,086 $441,618, $3,408,317 $2,922,943 December 31, 2018 2017, 25% No December 31, 2018, 2017 2016.

Note 4 - Investments in Real Es

Note 4 - Investments in Real Estate	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Real Estate Disclosure [Text Block]	( 4 During 2018 2017 December 31, 2018 2017: Real Estate at Cost No. of Year of Type Prop. Acquisition Description 12/31/18 12/31/17 Industrial flex property 1 2002 60,345 sf $ 5,709,859 $ 5,551,365 Less: accumulated depreciation (2,249,190 ) (2,084,846 ) Net book value $ 3,460,669 $ 3,466,519

Note 5 - Assets Measured at Fai

Note 5 - Assets Measured at Fair Value	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 5 The accounting guidance for Fair Value Measurements establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in determining fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value is calculated based on the assumptions that market participants would use in pricing the asset or liability, not The three ● Level 1 ● Level 2 ● Level 3 The following major categories of assets were measured at fair value during the year ended December 31, 2018 2017: Level 3: Significant Unobservable 2018 Inputs Total Assets Investment in Sentinel Omaha, LLC $ 53,548,614 $ 53,548,614 Reserve for fair value of investment (10,709,724 ) (10,709,724 ) Total assets $ 42,838,890 $ 42,838,890 Level 3: Significant Unobservable 2017 Inputs Total Assets Investment in Sentinel Omaha, LLC $ 50,106,432 $ 50,106,432 Reserve for fair value of investment (12,526,608 ) (12,526,608 ) Total assets $ 37,579,824 $ 37,579,824 The following is a reconciliation of the beginning and ending balances for assets measured at fair value using significant unobservable inputs (Level 3 December 31, 2018 2017: Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2017 $ 38,786,395 $ (13,575,238 ) $ 25,211,157 Equity in net income of investment 11,320,037 - 11,320,037 Decrease in reserve - 1,048,630 1,048,630 Balance at December 31, 2017 50,106,432 (12,526,608 ) 37,579,824 Equity in net income of investment 5,842,182 - 5,842,182 Distribution from investment (2,400,000 ) - (2,400,000 ) Decrease in reserve - 1,816,884 1,816,884 Balance at December 31, 2018 $ 53,548,614 $ (10,709,724 ) $ 42,838,890 As of December 31, 2017 30% December 31, 2017 25% December 31, 2017 $20,359,322. December 31, 2017. one June 30, 2018. 2018, first 2018 first two 30% 2017, 35% 25%. 2018 20% March 31, 2018. For the year ended December 31, 2018 3.0% 2019 2018. one During 2018 one 0.7164% December 2016 1.4925% December 2017 2.4582% December 2018. 2017 4.10% 4.15% 2017 4.35% 4.50% 2017 5.05% 5.10% December 2018. may 2019 not may The Partnership has only one 100% October 31, 2019. July 26, 2018, October 31, 2024. 3% no may not 30% two 30% 2018 20% March 31, 2018.

Note 6 - Investment in Sentinel

Note 6 - Investment in Sentinel Omaha, LLC	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	( 6 In 2007, $37,200,000 thirty December 31, 2018 eight five 10 With respect to its investment in Omaha, the Partnership elected to adopt Accounting Standards Codification Topic 825. The following are the audited condensed financial statements ( 000’s December 31, 2018 2017 three December 31, 2018. Balance Sheet 2018 2017 Investment in real estate properties, at fair value $ 290,500 $ 368,600 Other assets 13,960 10,556 Debt (121,481 ) (207,187 ) Other liabilities (4,484 ) (4,948 ) Members' equity $ 178,495 $ 167,021 Statement of Operations 2018 2017 2016 Rent and other income $ 33,786 $ 41,488 $ 44,266 Real estate operating expenses (16,189 ) (20,230 ) (21,062 ) Other expenses (5,705 ) (7,106 ) (6,825 ) Net unrealized gains 488 44,074 16,603 Net realized gain (losses) 7,094 (20,492 ) - Net increase in net assets $ 19,474 $ 37,734 $ 32,982 Determination of the fair value of Omaha involves numerous estimates and subjective judgments that are subject to change in response to current and future economic and market conditions, including, among other things, demand for residential apartments, competition, and operating cost levels such as labor, energy costs, real estate taxes and market interest rates. Judgments regarding these factors are not may Estimated fair value was determined utilizing Level 3 2 The investment in Omaha is not not The values of real estate properties have been prepared giving consideration to the income and sales comparison approaches of estimating property value. The income approach estimates an income stream for a property and discounts this income plus a reversion (presumed sale) into a present value at a risk adjusted rate. Yield rates and growth assumptions utilized in this approach are derived from market transactions as well as other financial and industry data. The sales comparison approach compares recent transactions to the appraised property. Adjustments are made for dissimilarities which typically provide a range of value. Generally, the income approach carries the most weight in the value reconciliation. Substantially all of Omaha’s real estate properties are classified within Level 3 The mortgage notes payable are all variable rate loans at December 31, 2018; The following table shows quantitative information about significant unobservable inputs related to Level 3 December 31, 2018 ( 000’s Fair Valuation Unobservable Range Value Techniques Inputs (Weighted Average) Investment in real estate properties $ 247,200 Discounted cash flows (DCF) Discount rate 7.00% - 7.75 % (7.46%) Capitalization rate 5.25% - 6.00 % (5.71%) DCF Term (years) 10 years

Note 7 - Loan Payable

Note 7 - Loan Payable	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	( 7 Loan payable consists of the following: Net Carrying Amount December 31, Property 2018 2017 Loan payable: Bank Loan: Note B $ - $ 5,726,590 Less: unamortized finance costs - (7,279 ) $ - $ 5,719,311 On September 17, 2007, $22,000,000, October 1, 2008 1.95%. April 29, 2011, 175 2011 2015. On October 4, 2018, one $4,000,000 October 19, 2018 $5,693,876 $2,400,000, $510,000 $4,000,000. $4,000,000 $5,693,876. $1,693,876

Note 8 - Quarterly Financial In

Note 8 - Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Quarterly Financial Information [Text Block]	( 8 Revenues from Net Income per Equity in Net Continuing Unit of Limited Income (Loss) of Year ended December 31, 2018 Operations Net Income Partnership Interest Investment First Quarter $ 273,781 $ 3,268,374 $ 421.56 $ 1,111,737 Second Quarter 277,069 766,217 98.83 1,116,053 Third Quarter 280,790 1,402,835 180.94 1,899,156 Fourth Quarter 278,816 3,386,226 436.77 1,715,236 Year ended December 31, 2017 First Quarter $ 267,378 $ 2,114,101 $ 272.68 $ 3,449,898 Second Quarter 267,800 3,335,567 430.23 1,934,067 Third Quarter 271,619 5,089,139 656.41 4,013,490 Fourth Quarter 274,338 1,313,661 169.44 1,922,582

Note 9 - Federal Income Tax Inf

Note 9 - Federal Income Tax Information (Unaudited)	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 9 A reconciliation of net income for financial reporting purposes to net income (loss) for Federal income tax reporting purposes is as follows: For the Years Ended December 31, 2018 2017 2016 Net income for financial reporting purposes $ 8,823,652 $ 11,852,468 $ 10,233,277 Adjustment to net loss on sale of investment in real estate property to reflect differences between tax and financial reporting bases of assets and liabilities - - - Difference between tax and financial statement equity in net income/ loss of investment 2,807,300 (12,538,521 ) (8,999,145 ) Difference between accrued investment management fees, mortgage interest and partnership administrative expenses recognized for tax purposes 525,375 502,085 481,619 Difference between tax and financial statement depreciation 13,429 7,788 7,424 Net income (loss) for Federal income tax reporting purposes $ 12,169,756 $ (176,180 ) $ 1,723,175 Net ordinary income for Federal income tax reporting purposes $ 4,745,461 $ 1,681,612 $ 1,723,175 Net capital (Sec. 1231) gain (loss) for Federal income tax reporting purposes 7,424,295 (1,857,792 ) - $ 12,169,756 $ (176,180 ) $ 1,723,175 Weighted average number of units of limited partnership interest outstanding 7,753 7,753 7,753 As of December 31, 2018 2017, $46,360,757 $43,029,724 $4,074,329, $9,267,740

Note 10 - Management Services

Note 10 - Management Services	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Management Services [Text Block]	( 10 Certain affiliates of the General Partner oversee the management and operation of various real estate properties, including those owned by the Partnership. Services performed by affiliates are billed at actual or allocated cost, percentage of revenues or net equity. For the years ended December 31, 2018, 2017 2016 $55,409, $54,311 $53,242, The Partnership’s wholly owned property located in Maple Grove, Minnesota is 100% July 31, 2019. July 26, 2018, October 31, 2024. $158,494 During 2012 1 2018, 2017 2016 $54,000

Note 11 - Fair Value of Financi

Note 11 - Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	( 11 The Partnership’s financial instruments include cash, cash equivalents and a loan payable. The carrying amount of cash, cash equivalents and loan payable are reasonable estimates of fair value.

Note 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 12 The Partnership is a party to certain actions directly arising from its normal business operations. While the ultimate outcome is not not The Partnership leases its property to a tenant under an operating lease agreement, which requires the tenant to pay all or part of certain operating and other expenses of the property. The minimum future rentals to be received in respect of non-cancelable commercial operating leases with unexpired terms in excess of one December 31, 2018 $772,620 2019, $809,634 2020, $833,922 2021, $858,940 2022 $884,709 2023. 100% October 31, 2024 July 2018. Pursuant to the original investment agreement, the Partnership may $3,720,000 not

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2018 Column A Column B Column C Column D Initial Cost to the Registrant Costs Capitalized Buildings and Subsequent Description Encumbrances Land Improvements Total to Acquisition INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) $ - $ 470,000 $ 4,243,385 $ 4,713,385 $ 996,474 Column A Column E Column F Gross amount at which Carried at End of Year (Notes a & c) Accumulated Buildings and Depreciation Description Land Improvements Total (Notes b & d) INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) $ 470,000 $ 5,239,859 $ 5,709,859 $ 2,249,190 Column A Column G Column H Column I Life on which Depreciation in Latest Statement of Operations Description Date of Construction Date Acquired is Computed (in years) INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) 2000 Jun 2002 7 to 39 NOTES TO SCHEDULE III: 2018 2017 2016 (a) Reconciliation of amounts shown in Column E: Balance at beginning of year $ 5,551,365 $ 5,486,185 $ 5,486,185 Additions - Cost of improvements 158,494 65,180 0 Deductions - Sales 0 0 0 Balance at end of year $ 5,709,859 $ 5,551,365 $ 5,486,185 (b) Reconciliation of amounts shown in Column F: Balance at beginning of year $ 2,084,846 $ 1,927,326 $ 1,769,982 Additions - Depreciation expense for the year 164,344 157,520 157,344 Deductions - Sales 0 0 0 $ 2,249,190 $ 2,084,846 $ 1,927,326 (c) Aggregate cost basis for Federal income tax reporting purposes $ 5,216,980 $ 5,216,980 $ 5,151,797 (d) Accumulated depreciation for Federal income tax reporting purposes $ 2,534,020 $ 2,070,468 $ 1,845,433

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	In May 2014, No. 2014 9, Revenue from Contracts with Customers 2014 9 2014 9, December 15, 2017. 2014 9 January 1, 2018 2014 9 Leases (Topic 840 2014 9 January 1, 2018 not In August 2016, No. 2016 15, Classification of Certain Cash Receipts and Cash Payments 2016 15 2016 15 December 15, 2017. 2016 15 eight 2016 15 January 1, 2018 2016 15 January 1, 2018 not In November 2016, No. 2016 18, Restricted Cash 2016 18 2016 18 2016 18 December 15, 2017. 2016 18 January 1, 2018. 2016 18 December 31, 2017 2016 $504,778 $501,145,

Note 1 - Organization and Sig_2

Note 1 - Organization and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	Buildings and Improvements (years) 5 to 40 Furnishings (years) 5 to 7

Note 4 - Investments in Real _2

Note 4 - Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Real Estate at Cost No. of Year of Type Prop. Acquisition Description 12/31/18 12/31/17 Industrial flex property 1 2002 60,345 sf $ 5,709,859 $ 5,551,365 Less: accumulated depreciation (2,249,190 ) (2,084,846 ) Net book value $ 3,460,669 $ 3,466,519

Note 5 - Assets Measured at F_2

Note 5 - Assets Measured at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Level 3: Significant Unobservable 2018 Inputs Total Assets Investment in Sentinel Omaha, LLC $ 53,548,614 $ 53,548,614 Reserve for fair value of investment (10,709,724 ) (10,709,724 ) Total assets $ 42,838,890 $ 42,838,890 Level 3: Significant Unobservable 2017 Inputs Total Assets Investment in Sentinel Omaha, LLC $ 50,106,432 $ 50,106,432 Reserve for fair value of investment (12,526,608 ) (12,526,608 ) Total assets $ 37,579,824 $ 37,579,824
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2017 $ 38,786,395 $ (13,575,238 ) $ 25,211,157 Equity in net income of investment 11,320,037 - 11,320,037 Decrease in reserve - 1,048,630 1,048,630 Balance at December 31, 2017 50,106,432 (12,526,608 ) 37,579,824 Equity in net income of investment 5,842,182 - 5,842,182 Distribution from investment (2,400,000 ) - (2,400,000 ) Decrease in reserve - 1,816,884 1,816,884 Balance at December 31, 2018 $ 53,548,614 $ (10,709,724 ) $ 42,838,890

Note 6 - Investment in Sentin_2

Note 6 - Investment in Sentinel Omaha, LLC (Tables)	12 Months Ended
	Dec. 31, 2018
Statement of Operations [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	Statement of Operations 2018 2017 2016 Rent and other income $ 33,786 $ 41,488 $ 44,266 Real estate operating expenses (16,189 ) (20,230 ) (21,062 ) Other expenses (5,705 ) (7,106 ) (6,825 ) Net unrealized gains 488 44,074 16,603 Net realized gain (losses) 7,094 (20,492 ) - Net increase in net assets $ 19,474 $ 37,734 $ 32,982
Balance Sheet [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	Balance Sheet 2018 2017 Investment in real estate properties, at fair value $ 290,500 $ 368,600 Other assets 13,960 10,556 Debt (121,481 ) (207,187 ) Other liabilities (4,484 ) (4,948 ) Members' equity $ 178,495 $ 167,021
Valuation, Income Approach [Member]
Notes Tables
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	Fair Valuation Unobservable Range Value Techniques Inputs (Weighted Average) Investment in real estate properties $ 247,200 Discounted cash flows (DCF) Discount rate 7.00% - 7.75 % (7.46%) Capitalization rate 5.25% - 6.00 % (5.71%) DCF Term (years) 10 years

Note 7 - Loan Payable (Tables)

Note 7 - Loan Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	Net Carrying Amount December 31, Property 2018 2017 Loan payable: Bank Loan: Note B $ - $ 5,726,590 Less: unamortized finance costs - (7,279 ) $ - $ 5,719,311

Note 8 - Quarterly Financial _2

Note 8 - Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Quarterly Financial Information [Table Text Block]	Revenues from Net Income per Equity in Net Continuing Unit of Limited Income (Loss) of Year ended December 31, 2018 Operations Net Income Partnership Interest Investment First Quarter $ 273,781 $ 3,268,374 $ 421.56 $ 1,111,737 Second Quarter 277,069 766,217 98.83 1,116,053 Third Quarter 280,790 1,402,835 180.94 1,899,156 Fourth Quarter 278,816 3,386,226 436.77 1,715,236 Year ended December 31, 2017 First Quarter $ 267,378 $ 2,114,101 $ 272.68 $ 3,449,898 Second Quarter 267,800 3,335,567 430.23 1,934,067 Third Quarter 271,619 5,089,139 656.41 4,013,490 Fourth Quarter 274,338 1,313,661 169.44 1,922,582

Note 9 - Federal Income Tax I_2

Note 9 - Federal Income Tax Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the Years Ended December 31, 2018 2017 2016 Net income for financial reporting purposes $ 8,823,652 $ 11,852,468 $ 10,233,277 Adjustment to net loss on sale of investment in real estate property to reflect differences between tax and financial reporting bases of assets and liabilities - - - Difference between tax and financial statement equity in net income/ loss of investment 2,807,300 (12,538,521 ) (8,999,145 ) Difference between accrued investment management fees, mortgage interest and partnership administrative expenses recognized for tax purposes 525,375 502,085 481,619 Difference between tax and financial statement depreciation 13,429 7,788 7,424 Net income (loss) for Federal income tax reporting purposes $ 12,169,756 $ (176,180 ) $ 1,723,175 Net ordinary income for Federal income tax reporting purposes $ 4,745,461 $ 1,681,612 $ 1,723,175 Net capital (Sec. 1231) gain (loss) for Federal income tax reporting purposes 7,424,295 (1,857,792 ) - $ 12,169,756 $ (176,180 ) $ 1,723,175 Weighted average number of units of limited partnership interest outstanding 7,753 7,753 7,753

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land and Buildings and Improvements[Table Text Block]	Column A Column B Column C Column D Initial Cost to the Registrant Costs Capitalized Buildings and Subsequent Description Encumbrances Land Improvements Total to Acquisition INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) $ - $ 470,000 $ 4,243,385 $ 4,713,385 $ 996,474
SEC Schedule III, Real Estate and Accumulated Depreciation, Gross Amounts [Table Text Block]	Column A Column E Column F Gross amount at which Carried at End of Year (Notes a & c) Accumulated Buildings and Depreciation Description Land Improvements Total (Notes b & d) INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) $ 470,000 $ 5,239,859 $ 5,709,859 $ 2,249,190
SEC Schedule III, Real Estate and Accumulated Depreciation, Date Acquired [Table Text Block]	Column A Column G Column H Column I Life on which Depreciation in Latest Statement of Operations Description Date of Construction Date Acquired is Computed (in years) INDUSTRIAL FLEX Minnesota - Maple Grove (Eagle Lake Business Center IV) 2000 Jun 2002 7 to 39
SEC Schedule III, Real Estate and Accumulated Depreciation, Reconciliation [Table Text Block]	2018 2017 2016 (a) Reconciliation of amounts shown in Column E: Balance at beginning of year $ 5,551,365 $ 5,486,185 $ 5,486,185 Additions - Cost of improvements 158,494 65,180 0 Deductions - Sales 0 0 0 Balance at end of year $ 5,709,859 $ 5,551,365 $ 5,486,185 (b) Reconciliation of amounts shown in Column F: Balance at beginning of year $ 2,084,846 $ 1,927,326 $ 1,769,982 Additions - Depreciation expense for the year 164,344 157,520 157,344 Deductions - Sales 0 0 0 $ 2,249,190 $ 2,084,846 $ 1,927,326 (c) Aggregate cost basis for Federal income tax reporting purposes $ 5,216,980 $ 5,216,980 $ 5,151,797 (d) Accumulated depreciation for Federal income tax reporting purposes $ 2,534,020 $ 2,070,468 $ 1,845,433

Note 1 - Organization and Sig_3

Note 1 - Organization and Significant Accounting Policies (Details Textual) shares in Thousands	12 Months Ended
	Dec. 31, 2018shares	Dec. 31, 2017shares	Dec. 31, 2016shares
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage	100.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0
Number of Operating Segments	1

Note 1 - Organization and Sig_4

Note 1 - Organization and Significant Accounting Policies - Estimated Useful Lives of Related Properties (Details)	12 Months Ended
	Dec. 31, 2018
Building and Building Improvements [Member] | Minimum [Member]
Estimated useful life of related properties (Year)	5 years
Building and Building Improvements [Member] | Maximum [Member]
Estimated useful life of related properties (Year)	40 years
Furniture and Fixtures [Member] | Minimum [Member]
Estimated useful life of related properties (Year)	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Estimated useful life of related properties (Year)	7 years

Note 2 - Recently Adopted Acc_2

Note 2 - Recently Adopted Accounting Pronouncements (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance	$ 338,239	$ 1,954,705	$ 1,828,342	$ 1,907,142
Accounting Standards Update 2016-18 [Member]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Ending Balance		$ 504,778	$ 501,145

Note 3 - Investment Managemen_2

Note 3 - Investment Management Agreement (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property Management Fee, Percent Fee		2.00%
Management Fee Percentage Other Than Real Estate		0.50%
Management Fee Expense	$ 911,615	$ 888,325	$ 867,859
Percentage of Cash Distribution in Excess of Annual Distribution	25.00%
Cash Distribution in Excess of Annual Distribution	$ 0	0	0
Accounts Payable and Accrued Liabilities [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability	485,375	462,086	441,618
Accrued Expenses [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability	3,408,317	2,922,943
General Partner [Member]
Management Fee Expense	$ 911,615	$ 888,325	$ 867,859

Note 4 - Investments in Real _3

Note 4 - Investments in Real Estate - Summary of Investments in Real Estate (Details)	12 Months Ended
	Dec. 31, 2018USD ($)ft²	Dec. 31, 2017USD ($)
Less: accumulated depreciation	$ (2,249,190)	$ (2,084,846)
Net book value	$ 3,460,669	3,466,519
Industrial Flex Property [Member]
No. of Prop.	1
Year of Acquisition	2002
Description (Square Foot) | ft²	60,345
Investment in real estate, at cost	$ 5,709,859	5,551,365
Less: accumulated depreciation	(2,249,190)	(2,084,846)
Net book value	$ 3,460,669	$ 3,466,519

Note 5 - Assets Measured at F_3

Note 5 - Assets Measured at Fair Value (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018
Operating Lease, Tenant Leasing Percentage	100.00%
Lessor, Operating Lease, Yearly Increase in Fixed Base Rent, Percentage	3.00%
Sentinel Omaha LLC [Member]
Equity Method Investment, Ownership Percentage	30.00%
Equity Method Investment, Fair Value, Reserve, Percent				20.00%
Sentinel Omaha LLC [Member]
Equity Method Investment, Ownership Percentage	30.00%	30.00%
Equity Method Investment, Fair Value, Reserve, Percent		25.00%	35.00%
Unsecured Debt, Total		$ 20,359,322
Increase in Real Estate Values, Percentage	3.00%
Sentinel Omaha LLC [Member] | Minimum [Member] | Multifamily [Member] | Fixed Rate Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.05%	4.35%	4.10%
Sentinel Omaha LLC [Member] | Maximum [Member] | Multifamily [Member] | Fixed Rate Residential Mortgage [Member]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate	5.10%	4.50%	4.15%
Sentinel Omaha LLC [Member] | London Interbank Offered Rate (LIBOR) [Member] | Weighted Average [Member]
Debt Instrument, Basis Spread on Variable Rate	2.4582%	1.4925%	0.7164%

Note 5 - Assets Measured at F_4

Note 5 - Assets Measured at Fair Value - Fair Value Measurement of Assets (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reserve for fair value of investment	$ (10,709,724)	$ (12,526,608)
Total assets	42,838,890	37,579,824
Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC	53,548,614	50,106,432
Reserve for fair value of investment	(10,709,724)	(12,526,608)
Total assets	42,838,890	37,579,824
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC	53,548,614	50,106,432	$ 38,786,395
Reserve for fair value of investment	(10,709,724)	(12,526,608)
Total assets	$ 42,838,890	$ 37,579,824

Note 5 - Assets Measured at F_5

Note 5 - Assets Measured at Fair Value - Reconciliation of Assets Measured at Fair Value (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Adjustment of reserve for fair value of investment	$ (1,816,884)	$ (1,048,630)	$ (870,588)
Distribution from investment	(2,400,000)
Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC	50,106,432
Balance, Investment in Sentinel Omaha, LLC	53,548,614	50,106,432
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC	50,106,432	38,786,395
Equity in net income of investment	5,842,182	11,320,037
Adjustment of reserve for fair value of investment
Distribution from investment	(2,400,000)
Balance, Investment in Sentinel Omaha, LLC	53,548,614	50,106,432	38,786,395
Balance, Reserve for fair value of investment	(12,526,608)	(13,575,238)
Decrease in reserve	1,816,884	1,048,630
Balance, Reserve for fair value of investment	(10,709,724)	(12,526,608)	(13,575,238)
Balance	37,579,824	25,211,157
Balance	$ 42,838,890	$ 37,579,824	$ 25,211,157

Note 6 - Investment in Sentin_3

Note 6 - Investment in Sentinel Omaha, LLC (Details Textual) - Sentinel Omaha LLC [Member]	Dec. 31, 2018	Dec. 31, 2007USD ($)
Investment Owned, at Cost		$ 37,200,000
Equity Method Investment, Ownership Percentage	30.00%
Number of Multifamily Properties	8
Number of Markets	5

Note 6 - Investment in Sentin_4

Note 6 - Investment in Sentinel Omaha, LLC - Balance Sheet (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Other assets	$ 7,789	$ 7,019
Debt		(5,719,311)
Sentinel Omaha LLC [Member]
Investment in real estate properties, at fair value	290,500,000	368,600,000
Other assets	13,960,000	10,556,000
Debt	(121,481,000)	(207,187,000)
Other liabilities	(4,484,000)	(4,948,000)
Members' equity	$ 178,495,000	$ 167,021,000

Note 6 - Investment in Sentin_5

Note 6 - Investment in Sentinel Omaha, LLC - Statement of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Rent and other income	$ 278,816	$ 280,790	$ 277,069	$ 273,781	$ 274,338	$ 271,619	$ 267,800	$ 267,378	$ 1,110,456	$ 1,081,135	$ 1,059,344
Real estate operating expenses									(304,672)	(281,796)	(286,536)
Other expenses									(129,967)	(124,329)	(131,157)
Net increase in net assets									8,823,652	11,852,468	10,233,277
Sentinel Omaha LLC [Member]
Rent and other income									33,786,000	41,488,000	44,266,000
Real estate operating expenses									(16,189,000)	(20,230,000)	(21,062,000)
Other expenses									(5,705,000)	(7,106,000)	(6,825,000)
Net unrealized gains									488,000	44,074,000	16,603,000
Net realized gain (losses)									7,094,000	(20,492,000)
Net increase in net assets									$ 19,474,000	$ 37,734,000	$ 32,982,000

Note 6 - Investment in Sentin_6

Note 6 - Investment in Sentinel Omaha, LLC - Significant Unobservable Inputs Related to Fair Value Measurement (Details) - Fair Value, Inputs, Level 3 [Member] $ in Millions	Dec. 31, 2018USD ($)
Measurement Input, Expected Term [Member]
Investment in real estate properties	10
Minimum [Member] | Measurement Input, Cap Rate [Member]
Investment in real estate properties	5.25
Maximum [Member] | Measurement Input, Cap Rate [Member]
Investment in real estate properties	6
Weighted Average [Member] | Measurement Input, Cap Rate [Member]
Investment in real estate properties	5.71
Real Estate [Member]
Investment in real estate properties	$ 247.2
Real Estate [Member] | Minimum [Member] | Measurement Input, Discount Rate [Member]
Investment in real estate properties	7
Real Estate [Member] | Maximum [Member] | Measurement Input, Discount Rate [Member]
Investment in real estate properties	7.75
Real Estate [Member] | Weighted Average [Member] | Measurement Input, Discount Rate [Member]
Investment in real estate properties	7.46

Note 7 - Loan Payable (Details

Note 7 - Loan Payable (Details Textual) - USD ($)	Oct. 19, 2018	Sep. 17, 2007	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 04, 2018
Proceeds from Equity Method Investment, Distribution			$ 2,400,000
Gain (Loss) on Extinguishment of Debt, Total			$ 1,693,876
Payoff Agreement [Member]
Repayments of Debt	$ 4,000,000
Long-term Debt, Gross						$ 5,693,876
Cash Held in Escrow	510,000
Gain (Loss) on Extinguishment of Debt, Total	1,693,876
Payoff Agreement [Member] | Sentinel Omaha LLC [Member]
Proceeds from Equity Method Investment, Distribution	$ 2,400,000
Notes Payable to Banks [Member]
Debt Instrument, Face Amount		$ 22,000,000
Notes Payable to Banks [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.95%

Note 7 - Loan Payable - Summary

Note 7 - Loan Payable - Summary of Notes and Loans Payable (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Less: unamortized finance costs	$ 0	$ (7,279)
Long-term debt		5,719,311
Notes Payable to Banks [Member] | Note B [Member]
Long-term debt, gross		5,726,590
Less: unamortized finance costs		(7,279)
Long-term debt		$ 5,719,311

Note 8 - Quarterly Financial _3

Note 8 - Quarterly Financial Information (Unaudited) - Summarized Quarterly Financial Data (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Rent and other income	$ 278,816	$ 280,790	$ 277,069	$ 273,781	$ 274,338	$ 271,619	$ 267,800	$ 267,378	$ 1,110,456	$ 1,081,135	$ 1,059,344
First Quarter, Net Income (Loss)	$ 3,386,226	$ 1,402,835	$ 766,217	$ 3,268,374	$ 1,313,661	$ 5,089,139	$ 3,335,567	$ 2,114,101
First Quarter, Net Income (Loss) per Unit of Limited Partnership Interest (in dollars per share)	$ 436.77	$ 180.94	$ 98.83	$ 421.56	$ 169.44	$ 656.41	$ 430.23	$ 272.68	$ 1,138.10	$ 1,528.76	$ 1,319.91
First Quarter, Equity Income (Loss) on Investment	$ 1,715,236	$ 1,899,156	$ 1,116,053	$ 1,111,737	$ 1,922,582	$ 4,013,490	$ 1,934,067	$ 3,449,898	$ 5,842,182	$ 11,320,037	$ 9,894,743

Note 9 - Federal Income Tax I_3

Note 9 - Federal Income Tax Information (Unaudited) (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Partnership Assets for Tax Basis	$ 46,360,757	$ 43,029,724
Partnership Liabilities for Tax Basis	$ 4,074,329	$ 9,267,740

Note 9 - Federal Income Tax I_4

Note 9 - Federal Income Tax Information (Unaudited) - Reconciliation of Net Income (Loss) of Financial Reporting to Net Income (Loss) for Federal Income Tax Reporting (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net increase in net assets	$ 8,823,652	$ 11,852,468	$ 10,233,277
Adjustment to net loss on sale of investment in real estate property to reflect differences between tax and financial reporting bases of assets and liabilities
Difference between tax and financial statement equity in net income/ loss of investment	2,807,300	(12,538,521)	(8,999,145)
Difference between accrued investment management fees, mortgage interest and partnership administrative expenses recognized for tax purposes	525,375	502,085	481,619
Difference between tax and financial statement depreciation	13,429	7,788	7,424
Net income (loss) for Federal income tax reporting purposes	12,169,756	(176,180)	1,723,175
Net ordinary income for Federal income tax reporting purposes	4,745,461	1,681,612	1,723,175
Net capital (Sec. 1231) gain (loss) for Federal income tax reporting purposes	7,424,295	(1,857,792)
	$ 12,169,756	$ (176,180)	$ 1,723,175
Weighted Average Number of Units of Limited Partnership Interest Outstanding (in shares)	7,753	7,753	7,753

Note 10 - Management Services (

Note 10 - Management Services (Details Textual) - USD ($)	Jul. 26, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cost of Goods and Services Sold, Total		$ 304,672	$ 281,796	$ 286,536
Operating Lease, Tenant Leasing Percentage		100.00%
Leasing Commission Payments Made to Affiliate of General Partner for Lease Extension	$ 158,494
Management Service [Member]
Cost of Goods and Services Sold, Total		$ 55,409	54,311	53,242
Asset Management [Member]
Cost of Goods and Services Sold, Total		$ 54,000	$ 54,000	$ 54,000

Note 12 - Commitments and Con_2

Note 12 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)
Lessor, Operating Lease, Payments to be Received, Next Twelve Months	$ 772,620
Lessor, Operating Lease, Payments to be Received, Two Years	809,634
Lessor, Operating Lease, Payments to be Received, Three Years	833,922
Lessor, Operating Lease, Payments to be Received, Four Years	858,940
Lessor, Operating Lease, Payments to be Received, Five Years	$ 884,709
Operating Lease, Tenant Leasing Percentage	100.00%
Additional Capital Investment to be Made	$ 3,720,000
Maple Grove (Eagle Lake Business Center IV) [Member]
Operating Lease, Tenant Leasing Percentage	100.00%

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation Initial Cost (Details) - Industrial Flex Minnesota [Member] - Maple Grove (Eagle Lake Business Center IV) [Member]	Dec. 31, 2018USD ($)
Initial cost, land	$ 470,000
Initial cost, buildings and improvements	4,243,385
Initial cost	4,713,385
Cost capitalized subsequent to acquistion	$ 996,474

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation Gross Amount (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accumulated depreciation	$ 2,249,190	$ 2,084,846	$ 1,927,326	$ 1,769,982
Industrial Flex Minnesota [Member] | Maple Grove (Eagle Lake Business Center IV) [Member]
Carrying amount, land	470,000
Carrying amount, buildings and improvements	5,239,859
Carrying amount, total	5,709,859
Accumulated depreciation	$ 2,249,190

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation, Life On Which Depreciation Is Computed (Details) - Industrial Flex Minnesota [Member] - Maple Grove (Eagle Lake Business Center IV) [Member]	12 Months Ended
	Dec. 31, 2018
Minimum [Member]
Life on which depreciation in latest statement of operations is computed (Year)	7 years
Maximum [Member]
Life on which depreciation in latest statement of operations is computed (Year)	39 years

Schedule III - Real Estate an_6

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
(a) Reconciliation of amounts shown in Column E:
Balance	$ 5,551,365	$ 5,486,185	$ 5,486,185
Cost of improvements	158,494	65,180	0
Sales	0	0	0
Balance	5,709,859	5,551,365	5,486,185
(b) Reconciliation of amounts shown in Column F:
Balance	2,084,846	1,927,326	1,769,982
Depreciation expense for the year	164,344	157,520	157,344
Sales	0	0	0
Balance	2,249,190	2,084,846	1,927,326
(c) Aggregate cost basis for Federal income tax reporting purposes	5,216,980	5,216,980	5,151,797
(d) Accumulated depreciation for Federal income tax reporting purposes	$ 2,534,020	$ 2,070,468	$ 1,845,433