Discontinued Operations

9 Months Ended

Sep. 30, 2012

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

(6) Discontinued Operations –

On January 31, 2012, the Company sold the land under the Red Robin restaurant in Beavercreek, Ohio to an unrelated third party. The Company received net sale proceeds of $1,811,647, which resulted in a net gain of $277,992. At December 31, 2011, the property was classified as Real Estate Held for Sale with a carrying value of $1,533,655.

During the first nine months of 2012, the Company distributed net sale proceeds of $92,525 to the Limited and Managing Members as part of their quarterly distributions, which represented a return of capital of $0.05 per LLC Unit. The Company anticipates the remaining net sale proceeds will either be reinvested in additional property or distributed to the Members in the future.

The financial results for this property is reflected as Discontinued Operations in the accompanying financial statements. The following are the results of discontinued operations:

		Three Months Ended September 30				Nine Months Ended September 30
		2012		2011		2012		2011
Rental Income	$	0	$	28,875	$	9,315	$	86,625
Property Management Expenses		0		(79)		0		(343)
Gain on Disposal of Real Estate		0		0		277,992		0
Income (Loss) from Discontinued Operations	$	0	$	28,796	$	287,307	$	86,282