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    <link:label id="lab_us-gaap_OtherNoncashIncomeExpense_DDA975276C47E849A78F7A9BCA3E0D50_label_en-US" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense_DDA975276C47E849A78F7A9BCA3E0D50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noncash Income (Expense)</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_120A8DC203C3CA1013CD7A9BCA404315_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_120A8DC203C3CA1013CD7A9BCA404315" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance proceeds received</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_77A4827E508BDF61F6A17A9BCA447563_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_77A4827E508BDF61F6A17A9BCA447563" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions paid to preferred shareholders</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_77A4827E508BDF61F6A17A9BCA447563" xlink:type="locator" />
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    <link:label id="lab_us-gaap_RealEstateMember_9BE8DEB5902ED5B54667607614C8854C_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateMember_9BE8DEB5902ED5B54667607614C8854C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Member]</link:label>
    <link:label id="lab_us-gaap_RealEstateMember_9BE8DEB5902ED5B54667607614C8854C_label_en-US" xlink:label="lab_us-gaap_RealEstateMember_9BE8DEB5902ED5B54667607614C8854C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Member]</link:label>
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    <link:label id="lab_us-gaap_CommercialRealEstateMember_C5DB6B780A3DB87CFA0D607614CA943A_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember_C5DB6B780A3DB87CFA0D607614CA943A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial [Member]</link:label>
    <link:label id="lab_us-gaap_CommercialRealEstateMember_C5DB6B780A3DB87CFA0D607614CA943A_label_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember_C5DB6B780A3DB87CFA0D607614CA943A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate [Member]</link:label>
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    <link:label id="lab_us-gaap_LandMember_D854A773661F154ECADE607614CA0675_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember_D854A773661F154ECADE607614CA0675" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Parcels of Land [Member]</link:label>
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    <link:label id="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA_terseLabel_en-US" xlink:label="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multi-Family Residential [Member]</link:label>
    <link:label id="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA_label_en-US" xlink:label="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multi Family Residential [Member]</link:label>
    <link:label id="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA_documentation_en-US" xlink:label="lab_iret_MultiFamilyResidentialMember_7129A1FA7156E19D6FE1607614CA91CA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A classification of real estate where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex.</link:label>
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    <link:label id="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF_terseLabel_en-US" xlink:label="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Healthcare [Member]</link:label>
    <link:label id="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF_label_en-US" xlink:label="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Healthcare [Member]</link:label>
    <link:label id="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF_documentation_en-US" xlink:label="lab_iret_CommercialHealthcareMember_81D0D01D69906811FE6560F3066C1CEF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A classification of real estate for buildings, offices and campuses leased to members or organizations within the healthcare industry, but owned and operated by third party groups.</link:label>
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    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_UnimprovedLandMember_5E5EAEA7FF8075DD3A75607614CB051A" xlink:to="lab_iret_UnimprovedLandMember_5E5EAEA7FF8075DD3A75607614CB051A" xlink:type="arc" />
    <link:label id="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB_terseLabel_en-US" xlink:label="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dakota Commons - Williston, ND [Member]</link:label>
    <link:label id="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB_label_en-US" xlink:label="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dakota Commons Williston Nd [Member]</link:label>
    <link:label id="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB_documentation_en-US" xlink:label="lab_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dakota Commons - Williston, ND for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_DakotaCommonsWillistonNdMember" xlink:label="loc_iret_DakotaCommonsWillistonNdMember_54AE2AEA48FD1F2BCFAA607614CCDEFB" xlink:type="locator" />
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    <link:label id="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138_terseLabel_en-US" xlink:label="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Williston Garden - Williston, ND [Member]</link:label>
    <link:label id="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138_label_en-US" xlink:label="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Williston Garden Williston Nd [Member]</link:label>
    <link:label id="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138_documentation_en-US" xlink:label="lab_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Williston Garden - Williston, ND for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_WillistonGardenWillistonNdMember" xlink:label="loc_iret_WillistonGardenWillistonNdMember_E725E774C5FFEF4163B9607614CD9138" xlink:type="locator" />
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    <link:label id="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368_terseLabel_en-US" xlink:label="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renaissance Heights - Williston, ND [Member]</link:label>
    <link:label id="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368_label_en-US" xlink:label="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Renaissance Heights Williston Nd [Member]</link:label>
    <link:label id="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368_documentation_en-US" xlink:label="lab_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Renaissance Heights - Williston ND for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_RenaissanceHeightsWillistonNdMember" xlink:label="loc_iret_RenaissanceHeightsWillistonNdMember_3391370E8C8C23A096D7607614CD7368" xlink:type="locator" />
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    <link:label id="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103_terseLabel_en-US" xlink:label="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minot Southgate Retail - Minot, ND [Member]</link:label>
    <link:label id="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103_label_en-US" xlink:label="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minot Southgate Retail Minot N D [Member]</link:label>
    <link:label id="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103_documentation_en-US" xlink:label="lab_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minot Southgate Retail - Minot, ND</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_MinotSouthgateRetailMinotNDMember" xlink:label="loc_iret_MinotSouthgateRetailMinotNDMember_AA67C8B566F2B5C2A937607614CD6103" xlink:type="locator" />
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    <link:label id="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD_terseLabel_en-US" xlink:label="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fresenius - Duluth, MN [Member]</link:label>
    <link:label id="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD_label_en-US" xlink:label="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fresenius Duluth Mn [Member]</link:label>
    <link:label id="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD_documentation_en-US" xlink:label="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fresenius - Duluth, MN for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_FreseniusDuluthMnMember" xlink:label="loc_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:to="lab_iret_FreseniusDuluthMnMember_389E881F5506FCB712B3607614CEF8DD" xlink:type="arc" />
    <link:label id="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9_terseLabel_en-US" xlink:label="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minot 2505 16Th St SW - Minot ND [Member]</link:label>
    <link:label id="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9_label_en-US" xlink:label="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minot250516 Th Street Sw Minot Nd [Member]</link:label>
    <link:label id="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9_documentation_en-US" xlink:label="lab_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minot 2505 16th Street SW - Minot, ND for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_Minot250516ThStreetSwMinotNdMember" xlink:label="loc_iret_Minot250516ThStreetSwMinotNdMember_9D0B6D8E3FB386FB546760FA04A4E3D9" xlink:type="locator" />
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    <link:label id="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986_terseLabel_en-US" xlink:label="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grand Forks - Grand Forks, ND [Member]</link:label>
    <link:label id="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986_label_en-US" xlink:label="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grand Forks Grand Forks Nd [Member]</link:label>
    <link:label id="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986_documentation_en-US" xlink:label="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grand Forks - Grand Forks, ND for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_GrandForksGrandForksNdMember" xlink:label="loc_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:to="lab_iret_GrandForksGrandForksNdMember_068CF02F06D66736C155607614CEE986" xlink:type="arc" />
    <link:label id="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E_terseLabel_en-US" xlink:label="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renaissance Heights - Williston, ND [Member]</link:label>
    <link:label id="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E_label_en-US" xlink:label="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Renaissance Heights Unimproved [Member]</link:label>
    <link:label id="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E_documentation_en-US" xlink:label="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Renaissance Heights Unimproved [Member]</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_RenaissanceHeightsUnimprovedMember" xlink:label="loc_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:to="lab_iret_RenaissanceHeightsUnimprovedMember_05FDB183CAD145E71F13607614CEE73E" xlink:type="arc" />
    <link:label id="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0_terseLabel_en-US" xlink:label="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Badger Hills - Rochester MN [Member]</link:label>
    <link:label id="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0_label_en-US" xlink:label="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Badger Hills Rochester Mn [Member]</link:label>
    <link:label id="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0_documentation_en-US" xlink:label="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Badger Hills - Rochester, MN for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_BadgerHillsRochesterMnMember" xlink:label="loc_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:to="lab_iret_BadgerHillsRochesterMnMember_0C85CAABB731F1B7E6EF60FBA77EE8C0" xlink:type="arc" />
    <link:label id="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E_terseLabel_en-US" xlink:label="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">13 Multifamily - Minot ND [Member]</link:label>
    <link:label id="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E_label_en-US" xlink:label="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily327 Unit Minot Nd [Member]</link:label>
    <link:label id="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E_documentation_en-US" xlink:label="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">327 Unit - 13 Multifamily property - Minot, ND.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_Multifamily327UnitMinotNdMember" xlink:label="loc_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:to="lab_iret_Multifamily327UnitMinotNdMember_8CE749F04E93557C85F661066A18C12E" xlink:type="arc" />
    <link:label id="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE_terseLabel_en-US" xlink:label="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minot Southgate Wells Fargo Bank - Minot ND [Member]</link:label>
    <link:label id="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE_label_en-US" xlink:label="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Southgate Minot Nd [Member]</link:label>
    <link:label id="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE_documentation_en-US" xlink:label="lab_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Southgate - Minot, ND</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_SouthgateMinotNdMember" xlink:label="loc_iret_SouthgateMinotNdMember_19BDCE6496704346CA87607614CE0AEE" xlink:type="locator" />
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    <link:label id="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9_terseLabel_en-US" xlink:label="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lexington Commerce Center - Eagan MN [Member]</link:label>
    <link:label id="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9_label_en-US" xlink:label="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lexington Commerce Center Eagan Mn [Member]</link:label>
    <link:label id="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9_documentation_en-US" xlink:label="lab_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lexington Commerce Center - Eagan, MN for development, expansion and renovation projects underway or recently completed.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_LexingtonCommerceCenterEaganMnMember" xlink:label="loc_iret_LexingtonCommerceCenterEaganMnMember_E41A2AE63C3AF4096F206109E0305CA9" xlink:type="locator" />
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    <link:label id="lab_iret_Eagan1440DuckwoodMedicalEaganMnMember_121F0EE7EA036AB9DBF9610A2672B40F_terseLabel_en-US" xlink:label="lab_iret_Eagan1440DuckwoodMedicalEaganMnMember_121F0EE7EA036AB9DBF9610A2672B40F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Duckwood Medical - Eagan MN [Member]</link:label>
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    <link:label id="lab_iret_AwardIn2019VestingOneMember_D40095E5BCBF03998FB17B77B06ADBF0_documentation_en-US" xlink:label="lab_iret_AwardIn2019VestingOneMember_D40095E5BCBF03998FB17B77B06ADBF0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Award In 2019 Vesting One [Member]</link:label>
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    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_10F5463C8D433D5D49EB7A9BC86ADB7A_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_10F5463C8D433D5D49EB7A9BC86ADB7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected life</link:label>
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    <link:label id="lab_us-gaap_SharePrice_91B81C992DA55EF142C87A9BC86B6782_label_en-US" xlink:label="lab_us-gaap_SharePrice_91B81C992DA55EF142C87A9BC86B6782" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Price</link:label>
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    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_F37A70BF6CD9DBCF10227A9BC86BABA6_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_F37A70BF6CD9DBCF10227A9BC86BABA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
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    <link:label id="lab_us-gaap_DiscontinuedOperationsHeldforsaleMember_56C276398190924C8E9E60761505404B_terseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsHeldforsaleMember_56C276398190924C8E9E60761505404B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discontinued Operations, Held-for-sale [Member]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DiscontinuedOperationsHeldforsaleMember" xlink:label="loc_us-gaap_DiscontinuedOperationsHeldforsaleMember_56C276398190924C8E9E60761505404B" xlink:type="locator" />
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    <link:label id="lab_iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_52A7EED8A35FE28EF3AD60761505B8DF_terseLabel_en-US" xlink:label="lab_iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_52A7EED8A35FE28EF3AD60761505B8DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate properties classified as held for sale in discontinued operations</link:label>
    <link:label id="lab_iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_52A7EED8A35FE28EF3AD60761505B8DF_label_en-US" xlink:label="lab_iret_NumberOfRealEstatePropertiesClassifiedAsHeldForSaleInDiscontinuedOperations_52A7EED8A35FE28EF3AD60761505B8DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of real estate properties classified as held for sale in discontinued operations</link:label>
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    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_A9271873A40A66C374067BD580D2A2CA_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis_E355358C8F5D50A486A57AC991117E18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_A9271873A40A66C374067BD580D2A2CA_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis_E355358C8F5D50A486A57AC991117E18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RealEstatePropertiesAxis" xlink:label="loc_us-gaap_RealEstatePropertiesAxis_E355358C8F5D50A486A57AC991117E18" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesAxis_E355358C8F5D50A486A57AC991117E18" xlink:to="lab_us-gaap_RealEstatePropertiesAxis_E355358C8F5D50A486A57AC991117E18" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstatePropertiesDomain_636C5F787ACD28DF62187BD580D26BAD_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain_2FCCFA0ECD115C7EADE4A0F0586F325F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Properties [Domain]</link:label>
    <link:label id="lab_us-gaap_RealEstatePropertiesDomain_636C5F787ACD28DF62187BD580D26BAD_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain_2FCCFA0ECD115C7EADE4A0F0586F325F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Properties [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RealEstatePropertiesDomain" xlink:label="loc_us-gaap_RealEstatePropertiesDomain_2FCCFA0ECD115C7EADE4A0F0586F325F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesDomain_2FCCFA0ECD115C7EADE4A0F0586F325F" xlink:to="lab_us-gaap_RealEstatePropertiesDomain_2FCCFA0ECD115C7EADE4A0F0586F325F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ResidentialRealEstateMember_4E774882F9B38E4095517BD580D28836_terseLabel_en-US" xlink:label="lab_us-gaap_ResidentialRealEstateMember_67DD615EC60F5F44A5A96D7010F164FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Apartment Properties [Member]</link:label>
    <link:label id="lab_us-gaap_ResidentialRealEstateMember_4E774882F9B38E4095517BD580D28836_label_en-US" xlink:label="lab_us-gaap_ResidentialRealEstateMember_67DD615EC60F5F44A5A96D7010F164FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Residential Real Estate [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ResidentialRealEstateMember" xlink:label="loc_us-gaap_ResidentialRealEstateMember_67DD615EC60F5F44A5A96D7010F164FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ResidentialRealEstateMember_67DD615EC60F5F44A5A96D7010F164FF" xlink:to="lab_us-gaap_ResidentialRealEstateMember_67DD615EC60F5F44A5A96D7010F164FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_F5BAAAC34389C2F3EDE45BD059BCB82A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_F5BAAAC34389C2F3EDE45BD059BCB82A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets Held for Sale [Member]</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_F5BAAAC34389C2F3EDE45BD059BCB82A" xlink:type="locator" />
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_B7AB84786F15BA95397E5BD059BF77B3_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_B7AB84786F15BA95397E5BD059BF77B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_B7AB84786F15BA95397E5BD059BF77B3_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_B7AB84786F15BA95397E5BD059BF77B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_B7AB84786F15BA95397E5BD059BF77B3" xlink:type="locator" />
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    <link:label id="lab_iret_FullyDepreciatedPropertyMember_E48C584C56293474184A5BD059BF2635_documentation_en-US" xlink:label="lab_iret_FullyDepreciatedPropertyMember_E48C584C56293474184A5BD059BF2635" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents fully depreciated buildings and improvements under new depreciable lives.</link:label>
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    <link:label id="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27_terseLabel_en-US" xlink:label="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions [Member]</link:label>
    <link:label id="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27_label_en-US" xlink:label="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions [Member]</link:label>
    <link:label id="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27_documentation_en-US" xlink:label="lab_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Properties acquired.</link:label>
    <link:loc xlink:href="iret-20181031.xsd#iret_AcquisitionsMember" xlink:label="loc_iret_AcquisitionsMember_9BB85CD8309419AAA3F7607614DDFD27" xlink:type="locator" />
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    <link:label id="lab_iret_OxboStPaulMNMember_B64B83E40C197F442908607614DFB807_terseLabel_en-US" xlink:label="lab_iret_OxboStPaulMNMember_B64B83E40C197F442908607614DFB807" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">191 unit - Oxbo - St. Paul, MN [Member]</link:label>
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