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Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
Assets [Abstract]    
Real estate assets and lease intangibles, net $ 160,556,455 $ 165,638,719
Mortgages receivable 920,216 920,216
Cash And Cash Equivalents At Carrying Value 8,611,182 10,746,536
Restricted cash 1,437,595 1,113,123
Other real estate owned 900,000 900,000
Other assets, net 8,490,789 5,813,399
TOTAL ASSETS 180,916,237 185,131,993
Liabilities:    
Mortgage notes payable 89,248,344 92,480,363
Accounts payable and accrued liabilities 4,261,255 4,126,771
Dividends payable 1,229,328 1,142,191
Total liabilities 94,738,927 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; 163,139 157,674
Common stock series B, no par value, shares authorized: 1,000; no shares issued and outstanding 0 0
Additional paid-in capital 140,046,407 134,884,312
Dividends in excess of accumulated losses (67,583,468) (58,337,457)
Total shareholders' equity before noncontrolling interest 72,626,094 76,704,545
Noncontrolling interest 13,551,216 10,678,123
Total shareholders' equity 86,177,310 87,382,668
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 180,916,237 $ 185,131,993