SB Partners 10-Q 13 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0000087047
Entity Registrant Name	SB PARTNERS
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	0-8952
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-6294787
Entity Address, Address Line One	1 New Haven Avenue, Suite 102A
Entity Address, City or Town	Milford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06460
City Area Code	203
Local Phone Number	283-9593
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Assets:
Land	$ 470,000	$ 470,000
Buildings, furnishings and improvements	5,671,101	5,671,101
Less - accumulated depreciation	(2,642,205)	(2,559,959)
Real Estate Investment Property, Net, Total	3,498,896	3,581,142
Investment in Sentinel Omaha, LLC, net of reserve for fair value of $10,985,626 and $11,923,033 at June 30, 2021 and December 31, 2020, respectively	43,942,397	47,692,106
Investments, Total	47,441,293	51,273,248
Other Assets -
Cash and cash equivalents	1,035,651	549,195
Other	2,080	11,198
Total assets	48,479,024	51,833,641
Liabilities:
Accounts payable	104,610	154,636
Tenant security deposit	111,207	109,808
Total liabilities	215,817	264,444
Partners' Equity (Deficit):
Limited partner - 7,753 units	48,275,418	51,580,982
General partner - 1 unit	(12,211)	(11,785)
Total partners' equity	48,263,207	51,569,197
Total liabilities and partners' equity	$ 48,479,024	$ 51,833,641

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Investment in Sentinel Omaha, LLC, reserve for fair value	$ 10,985,626	$ 11,923,033
Limited partner - units (in shares)	7,753	7,753
General partner - units (in shares)	1	1

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Rental income	$ 302,623	$ 293,365	$ 605,246	$ 586,730
Interest income	1,000	1,935	3,005	1,935
Total revenues	303,623	295,300	608,251	588,665
Expenses:
Real estate operating expenses	77,942	69,841	156,012	140,255
Depreciation	41,123	41,127	82,246	82,254
Real estate taxes	39,991	35,393	79,918	70,786
Management fees	250,323	255,706	498,445	508,704
Other	35,541	30,184	68,361	60,839
Total expenses	444,920	432,251	884,982	862,838
Loss from operations	(141,297)	(136,951)	(276,731)	(274,173)
Equity in net income (loss) of investment	2,794,433	(442,722)	6,112,884	41,755
(Increase) Decrease in reserve for value of investment	(558,887)	88,545	937,407	(8,351)
Net income (loss)	2,094,249	(491,128)	6,773,560	(240,769)
Income (loss) allocated to general partner	270	(63)	874	(31)
Income (loss) allocated to limited partners	$ 2,093,979	$ (491,065)	$ 6,772,686	$ (240,738)
Income (loss) per unit of limited partnership interest (basic and diluted)
Net income (loss) (in dollars per share)	$ 270.12	$ (63.35)	$ 873.67	$ (31.05)
Weighted Average Number of Units of Limited Partnership Interest Outstanding (in shares)	7,753	7,753	7,753	7,753

Consolidated Statements of Chan

Consolidated Statements of Changes in Partners' Equity (Deficit) (Unaudited) - 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)	7,753				1
Balance	$ 119,968,973	$ (114,822,586)	$ 40,905,679	$ 46,052,066	$ 10,000	$ (26,764)	$ 4,266	$ (12,498)
Balance (in shares) at Dec. 31, 2019	7,753				1
Balance at Dec. 31, 2019	$ 119,968,973	(114,822,586)	40,905,679	46,052,066	$ 10,000	(26,764)	4,266	(12,498)
Net income (loss)	$ 0	0	250,327	250,327	$ 0	0	32	32
Balance (in shares) at Mar. 31, 2020	7,753				1
Balance at Mar. 31, 2020	$ 119,968,973	(114,822,586)	41,156,006	46,302,393	$ 10,000	(26,764)	4,298	(12,466)
Balance (in shares) at Dec. 31, 2019	7,753				1
Balance at Dec. 31, 2019	$ 119,968,973	(114,822,586)	40,905,679	46,052,066	$ 10,000	(26,764)	4,266	(12,498)
Net income (loss)									$ 240,769
Balance (in shares) at Jun. 30, 2020	7,753				1
Balance at Jun. 30, 2020	$ 119,968,973	(114,822,586)	40,664,941	45,811,328	$ 10,000	(26,764)	4,235	(12,529)
Balance (in shares)	7,753				1
Balance	$ 119,968,973	(114,822,586)	41,156,006	46,302,393	$ 10,000	(26,764)	4,298	(12,466)
Balance (in shares) at Mar. 31, 2020	7,753				1
Balance at Mar. 31, 2020	$ 119,968,973	(114,822,586)	41,156,006	46,302,393	$ 10,000	(26,764)	4,298	(12,466)
Net income (loss)			(491,065)	(491,065)			(63)	(63)	491,128
Balance (in shares) at Jun. 30, 2020	7,753				1
Balance at Jun. 30, 2020	$ 119,968,973	(114,822,586)	40,664,941	45,811,328	$ 10,000	(26,764)	4,235	(12,529)
Balance (in shares)	7,753				1
Balance	$ 119,968,973	(114,822,586)	40,664,941	45,811,328	$ 10,000	(26,764)	4,235	(12,529)
Balance (in shares)	7,753				1
Balance	$ 119,968,973	(114,822,586)	46,434,595	51,580,982	$ 10,000	(26,764)	4,979	(11,785)	51,569,197
Balance (in shares) at Dec. 31, 2020	7,753				1
Balance at Dec. 31, 2020	$ 119,968,973	(114,822,586)	46,434,595	51,580,982	$ 10,000	(26,764)	4,979	(11,785)	51,569,197
Net income (loss)			4,678,707	4,678,707			604	604
Distribution paid	$ 0	(10,078,250)	0	(10,078,250)	$ 0	(1,300)	0	(1,300)
Balance (in shares) at Mar. 31, 2021	7,753				1
Balance at Mar. 31, 2021	$ 119,968,973	(124,900,836)	51,113,302	46,181,439	$ 10,000	(28,064)	5,583	(12,481)
Balance (in shares) at Dec. 31, 2020	7,753				1
Balance at Dec. 31, 2020	$ 119,968,973	(114,822,586)	46,434,595	51,580,982	$ 10,000	(26,764)	4,979	(11,785)	51,569,197
Net income (loss)									(6,773,560)
Balance (in shares) at Jun. 30, 2021	7,753				1
Balance at Jun. 30, 2021	$ 119,968,973	(124,900,836)	53,207,281	48,275,418	$ 10,000	(28,064)	5,853	(12,211)	48,263,207
Balance (in shares)	7,753				1
Balance	$ 119,968,973	(124,900,836)	51,113,302	46,181,439	$ 10,000	(28,064)	5,583	(12,481)
Balance (in shares) at Mar. 31, 2021	7,753				1
Balance at Mar. 31, 2021	$ 119,968,973	(124,900,836)	51,113,302	46,181,439	$ 10,000	(28,064)	5,583	(12,481)
Net income (loss)			2,093,979	2,093,979			270	270	(2,094,249)
Balance (in shares) at Jun. 30, 2021	7,753				1
Balance at Jun. 30, 2021	$ 119,968,973	(124,900,836)	53,207,281	48,275,418	$ 10,000	(28,064)	5,853	(12,211)	48,263,207
Balance (in shares)	7,753				1
Balance	$ 119,968,973	$ (124,900,836)	$ 53,207,281	$ 48,275,418	$ 10,000	$ (28,064)	$ 5,853	$ (12,211)	$ 48,263,207

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash Flows From Operating Activities:
Net income (loss)	$ 2,094,249	$ (491,128)	$ 6,773,560	$ (240,769)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in net (income) of investment	(2,794,433)	442,722	(6,112,884)	(41,755)
(Decrease) increase in reserve for value of investment	558,887	(88,545)	(937,407)	8,351
Depreciation			82,246	82,254
Net decrease in other assets			9,118	7,352
Net (decrease) in accounts payable			(50,026)	(47,835)
Net increase in tenant security deposit			1,399	1,399
Distributions from investment in Sentinel Omaha, LLC			10,800,000	0
Net cash provided by (used in) operating activities			10,566,006	(231,003)
Cash Flows From Financing Activities:
Distribution paid to partners			(10,079,550)	0
Net cash used in financing activities			(10,079,550)	0
Net change in cash and cash equivalents			486,456	(231,003)
Cash and cash equivalents at beginning of period			549,195	987,624	$ 987,624
Cash and cash equivalents at end of period	$ 1,035,651	$ 756,621	$ 1,035,651	$ 756,621	$ 549,195

Note 1 - Organization and Signi

Note 1 - Organization and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	( 1 ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES SB Partners, a New York limited partnership, and its subsidiaries (collectively, the "Partnership" or the “Registrant”), have been engaged since April 1971 The consolidated financial statements included herein are unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to a fair presentation of the financial position, results of operations and cash flows for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not 10 The results of operations for the three six June 30, 2021 not For a discussion of the significant accounting and financial reporting policies of the Partnership, refer to the Annual Report on Form 10–K December 31, 2020.

Note 2 - COVID-19

Note 2 - COVID-19	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Unusual or Infrequent Items, or Both, Disclosure [Text Block]	( 2 COVID- 19 Due to the COVID- 19 may may no not June 30, 2021.

Note 3 - Common Area Maintenanc

Note 3 - Common Area Maintenance Reimbursements	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 3 COMMON AREA MAINTENANCE REIMBURSEMENTS In connection with the adoption of ASC Topic 842, 842, 606, Revenue from Contracts with Customers not The following table provides a disaggregation of rental income recognized by the Partnership for the three six June 30, 2021 2020: For the Three Months Ended June 30, For the Six Months Ended June 30, 2021 2020 2021 2020 Operating lease income: Fixed lease income (Base Rent) $ 207,443 $ 201,401 $ 414,886 $ 402,802 Variable lease income (Recoverable Costs) 95,180 91,964 190,360 183,928 Total Rental Income $ 302,623 $ 293,365 $ 605,246 $ 586,730

Note 4 - Investments in Real Es

Note 4 - Investments in Real Estate	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Real Estate Disclosure [Text Block]	( 4 INVESTMENTS IN REAL ESTATE As of June 30, 2021, June 30, 2021 December 31, 2020. No. of Year of Real Estate at Cost Type Prop. Acquisition Description 6/30/2021 12/31/2020 Industrial flex property 1 2002 60,345 sf $ 6,141,101 $ 6,141,101 Less: Accumulated depreciation (2,642,205 ) (2,559,959 ) Investment in real estate $ 3,498,896 $ 3,581,142 The Partnership’s wholly owned property located in Maple Grove, Minnesota is 100% October 31, 2024.

Note 5 - Assets Measured at Fai

Note 5 - Assets Measured at Fair Value	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	( 5 ASSETS MEASURED AT FAIR VALUE 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 as of June 30, 2021 December 31, 2020: Level 3: June 30, Significant 2021 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 54,928,023 $ 54,928,023 Reserve for fair value of investment (10,985,626 ) (10,985,626 ) Total assets $ 43,942,397 $ 43,942,397 Level 3: December 31, Significant 2020 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 59,615,139 $ 59,615,139 Reserve for fair value of investment (11,923,033 ) (11,923,033 ) Total assets $ 47,692,106 $ 47,692,106 The following is a reconciliation of the beginning and ending balances for assets measured at fair value using significant unobservable inputs (Level 3 June 30, 2021 December 31, 2020: Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2020 $ 51,977,702 $ (10,395,545 ) $ 41,582,157 Equity in net income of investment 7,637,437 - 7,637,437 (Increase) in reserve - (1,527,488 ) (1,527,488 ) Balance at December 31, 2020 59,615,139 (11,923,033 ) 47,692,106 Equity in net income of investment 6,112,884 - 6,112,884 Distribution from investment (10,800,000 ) (10,800,000 ) Decrease in reserve - 937,407 937,407 Balance at June 30, 2021 $ 54,928,023 $ (10,985,626 ) $ 43,942,397

Note 6 - Investment in Sentinel

Note 6 - Investment in Sentinel Omaha, LLC	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	( 6 INVESTMENT IN SENTINEL OMAHA, LLC In 2007, June 30, 2021 The following are the condensed financial statements ( 000’s June 30, 2021 December 31, 2020 six June 30, 2021 2020. (Unaudited) (Audited) Balance Sheet June 30, 2021 December 31, 2020 Investment in real estate, net $ 160,450 $ 190,600 Other assets 62,221 61,315 Debt (37,555 ) (49,880 ) Other liabilities (2,022 ) (3,318 ) Members equity $ 183,094 $ 198,717 (Unaudited) (Unaudited) Statement of Operations June 30, 2021 June 30, 2020 Rent and other income $ 9,079 $ 12,209 Real estate operating expenses (4,810 ) (5,638 ) Other expenses (230 ) (828 ) Net realized gain 17,864 0 Net unrealized (losses) (1,526 ) (5,604 ) Net increase in net assets $ 20,377 $ 139 During December 2020, one first February 2021 30% During April 2021, first six June 30, 2021.

Note 3 - Common Area Maintena_2

Note 3 - Common Area Maintenance Reimbursements (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	For the Three Months Ended June 30, For the Six Months Ended June 30, 2021 2020 2021 2020 Operating lease income: Fixed lease income (Base Rent) $ 207,443 $ 201,401 $ 414,886 $ 402,802 Variable lease income (Recoverable Costs) 95,180 91,964 190,360 183,928 Total Rental Income $ 302,623 $ 293,365 $ 605,246 $ 586,730

Note 4 - Investments in Real _2

Note 4 - Investments in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	No. of Year of Real Estate at Cost Type Prop. Acquisition Description 6/30/2021 12/31/2020 Industrial flex property 1 2002 60,345 sf $ 6,141,101 $ 6,141,101 Less: Accumulated depreciation (2,642,205 ) (2,559,959 ) Investment in real estate $ 3,498,896 $ 3,581,142

Note 5 - Assets Measured at F_2

Note 5 - Assets Measured at Fair Value (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]	Level 3: June 30, Significant 2021 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 54,928,023 $ 54,928,023 Reserve for fair value of investment (10,985,626 ) (10,985,626 ) Total assets $ 43,942,397 $ 43,942,397 Level 3: December 31, Significant 2020 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 59,615,139 $ 59,615,139 Reserve for fair value of investment (11,923,033 ) (11,923,033 ) Total assets $ 47,692,106 $ 47,692,106
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, 2020 $ 51,977,702 $ (10,395,545 ) $ 41,582,157 Equity in net income of investment 7,637,437 - 7,637,437 (Increase) in reserve - (1,527,488 ) (1,527,488 ) Balance at December 31, 2020 59,615,139 (11,923,033 ) 47,692,106 Equity in net income of investment 6,112,884 - 6,112,884 Distribution from investment (10,800,000 ) (10,800,000 ) Decrease in reserve - 937,407 937,407 Balance at June 30, 2021 $ 54,928,023 $ (10,985,626 ) $ 43,942,397

Note 6 - Investment in Sentin_2

Note 6 - Investment in Sentinel Omaha, LLC (Tables)	6 Months Ended
	Jun. 30, 2021
Statement of Operations [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	(Unaudited) (Unaudited) Statement of Operations June 30, 2021 June 30, 2020 Rent and other income $ 9,079 $ 12,209 Real estate operating expenses (4,810 ) (5,638 ) Other expenses (230 ) (828 ) Net realized gain 17,864 0 Net unrealized (losses) (1,526 ) (5,604 ) Net increase in net assets $ 20,377 $ 139
Balance Sheet [Member]
Notes Tables
Real Estate Investment Financial Statements, Disclosure [Table Text Block]	(Unaudited) (Audited) Balance Sheet June 30, 2021 December 31, 2020 Investment in real estate, net $ 160,450 $ 190,600 Other assets 62,221 61,315 Debt (37,555 ) (49,880 ) Other liabilities (2,022 ) (3,318 ) Members equity $ 183,094 $ 198,717

Note 3 - Common Area Maintena_3

Note 3 - Common Area Maintenance Reimbursements - Disaggregation of Rental Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Rental income	$ 302,623	$ 293,365	$ 605,246	$ 586,730
Fixed Lease Income Base Rent [Member]
Rental income	207,443	201,401	414,886	402,802
Variable Lease Income [Member]
Rental income	$ 95,180	$ 91,964	$ 190,360	$ 183,928

Note 4 - Investments in Real _3

Note 4 - Investments in Real Estate (Details Textual)	Jun. 30, 2021
Rent Increase, Yearly, Percentage	3.00%

Note 4 - Investments in Real _4

Note 4 - Investments in Real Estate - Summary of Investments in Real Estate (Details)	6 Months Ended
	Jun. 30, 2021USD ($)ft²	Dec. 31, 2020USD ($)
Less: Accumulated depreciation	$ (2,642,205)	$ (2,559,959)
Investment in real estate	$ 3,498,896	3,581,142
Industrial Flex Property [Member]
No. of Prop.	1
Year of Acquisition	2002
Description (Square Foot) | ft²	60,345
Investment in real estate, at cost	$ 6,141,101	6,141,101
Less: Accumulated depreciation	(2,642,205)	(2,559,959)
Investment in real estate	$ 3,498,896	$ 3,581,142

Note 5 - Assets Measured at F_3

Note 5 - Assets Measured at Fair Value - Fair Value Measurement of Assets (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Reserve for fair value of investment	$ (10,985,626)	$ (11,923,033)
Total assets	43,942,397	47,692,106
Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC ("Omaha")	54,928,023	59,615,139
Reserve for fair value of investment	(10,985,626)	(11,923,033)
Total assets	43,942,397	47,692,106
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Investment in Sentinel Omaha, LLC ("Omaha")	54,928,023	59,615,139	$ 51,977,702
Reserve for fair value of investment	(10,985,626)	(11,923,033)
Total assets	$ 43,942,397	$ 47,692,106	$ 41,582,157

Note 5 - Assets Measured at F_4

Note 5 - Assets Measured at Fair Value - Reconciliation of Assets Measured at Fair Value (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Balance			$ 47,692,106
Equity in net income of investment	$ 2,794,433	$ (442,722)	6,112,884	$ 41,755
(Decrease) increase in reserve for value of investment	558,887	(88,545)	(937,407)	8,351
Distribution from investment			(10,800,000)	0
(Increase) Decrease in reserve for value of investment	(558,887)	$ 88,545	937,407	(8,351)
Balance	43,942,397		43,942,397		$ 47,692,106
Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC			59,615,139
Balance			47,692,106
Balance, Investment in Sentinel Omaha, LLC	54,928,023		54,928,023		59,615,139
Balance	43,942,397		43,942,397		47,692,106
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member]
Balance, Investment in Sentinel Omaha, LLC			59,615,139	51,977,702	51,977,702
Balance, Reserve for fair value of investment			(11,923,033)	(10,395,545)	(10,395,545)
Balance			47,692,106	$ 41,582,157	41,582,157
Equity in net income of investment			6,112,884		7,637,437
(Decrease) increase in reserve for value of investment			0		0
(Increase) in reserve			(937,407)		(1,527,488)
Distribution from investment			(10,800,000)
(Increase) Decrease in reserve for value of investment			0		0
(Increase) decrease in reserve for fair value investment			937,407		1,527,488
Balance, Investment in Sentinel Omaha, LLC	54,928,023		54,928,023		59,615,139
Balance, Reserve for fair value of investment	(10,985,626)		(10,985,626)		(11,923,033)
Balance	$ 43,942,397		$ 43,942,397		$ 47,692,106

Note 6 - Investment in Sentin_3

Note 6 - Investment in Sentinel Omaha, LLC (Details Textual)	1 Months Ended	6 Months Ended
	Apr. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2007USD ($)
Payments of Distributions to Affiliates		$ 10,079,550	$ 0
Sentinel Omaha LLC [Member]
Payments of Distributions to Affiliates		36,000,000
Proceeds from Sale of Buildings	$ 47,250,000
Investment in Real Estate, Increase (Decrease) in Value		$ 9,850,000
Investment In Real Estate Percentage increase (Decrease) In Value		6.54%
Sentinel Omaha LLC [Member]
Investment Owned, at Cost				$ 37,200,000
Number of Multifamily Properties		4
Number of Markets		2
Equity Method Investment, Ownership Percentage		30.00%
Payments of Distributions to Affiliates		$ 10,800,000

Note 6 - Investment in Sentin_4

Note 6 - Investment in Sentinel Omaha, LLC - Balance Sheet (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Other assets	$ 2,080	$ 11,198
Sentinel Omaha LLC [Member]
Investment in real estate, net	160,450,000	190,600,000
Other assets	62,221,000	61,315,000
Debt	(37,555,000)	(49,880,000)
Other liabilities	(2,022,000)	(3,318,000)
Members equity	$ 183,094,000	$ 198,717,000

Note 6 - Investment in Sentin_5

Note 6 - Investment in Sentinel Omaha, LLC - Statement of Operations (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Rent and other income	$ 303,623	$ 295,300	$ 608,251	$ 588,665
Real estate operating expenses	(77,942)	(69,841)	(156,012)	(140,255)
Other expenses	(35,541)	(30,184)	(68,361)	(60,839)
Net increase in net assets	$ 2,094,249	$ (491,128)	6,773,560	(240,769)
Sentinel Omaha LLC [Member]
Rent and other income			9,079,000	12,209,000
Real estate operating expenses			(4,810,000)	(5,638,000)
Other expenses			(230,000)	(828,000)
Net realized gain			17,864,000	0
Net unrealized (losses)			(1,526,000)	(5,604,000)
Net increase in net assets			$ 20,377,000	$ 139,000