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Consolidated Balance Sheets (USD $)
Mar. 31, 2013
Dec. 31, 2012
Assets [Abstract]    
Real estate assets and lease intangibles, net $ 162,493,176 $ 165,638,719
Mortgages receivable 920,216 920,216
Cash And Cash Equivalents At Carrying Value 9,851,143 10,746,536
Restricted cash 1,149,601 1,113,123
Other real estate owned 900,000 900,000
Other assets, net 8,430,844 5,813,399
TOTAL ASSETS 183,744,980 185,131,993
Liabilities:    
Mortgage notes payable 89,736,873 92,480,363
Accounts payable and accrued liabilities 4,089,491 4,126,771
Dividends payable 1,180,179 1,142,191
Total liabilities 95,006,543 97,749,325
Shareholders' equity:    
Convertible series AA preferred stock, no par value, $25 liquidating preference, shares authorized: 1,000,000; no shares issued and outstanding liquidating value of $1,255,000 0 0
Convertible Preferred Stock 16 16
Common stock series A, $0.01 par value, shares authorized: 100,000,000; 160,721 157,674
Common stock series B, no par value, shares authorized: 1,000; no shares issued and outstanding 0 0
Additional paid-in capital 137,776,311 134,884,312
Dividends in excess of accumulated losses (60,565,831) (58,337,457)
Total shareholders' equity before noncontrolling interest 77,371,217 76,704,545
Noncontrolling interest 11,367,220 10,678,123
Total shareholders' equity 88,738,437 87,382,668
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 183,744,980 $ 185,131,993