Exhibit 21.1

	NAME OF SUBSIDIARY	JURISDICTION OF FORMATION
	INREIT Properties, LLC	North Dakota
	Grand Forks INREIT, LLC	North Dakota
*	Minot Vista Properties, LLC	North Dakota
	Autumn Ridge INREIT, LLC	North Dakota
	Bismarck Interstate INREIT, LLC	North Dakota
	32nd Avenue INREIT, LLC	Delaware
	INREIT BL Mankato, LLC	North Dakota
	INREIT BL Janesville, LLC	North Dakota
	INREIT BL Eau Claire, LLC	North Dakota
	INREIT BL Stevens Point, LLC	North Dakota
	INREIT BL Sheboygan, LLC	North Dakota
	INREIT BL Oshkosh, LLC	North Dakota
	INREIT BL Onalaska, LLC	North Dakota
	INREIT BL Grand Forks, LLC	North Dakota
	INREIT BL Marquette, LLC	North Dakota
	INREIT BL Bismarck, LLC	North Dakota
	INREIT Somerset, LLC	Delaware
	INREIT Stonybrook, LLC	Delaware
	INREIT Alexandria, LLC	Delaware
	INREIT Batesville, LLC	North Dakota
	INREIT Fayetteville, LLC	North Dakota
	INREIT Laurel, LLC	Delaware
**	Marketplace Investors, LLC	North Dakota
***	Eagle Run Partnership	North Dakota
	INREIT Maple Ridge, LLC	North Dakota
****	INREIT Highland, LLC	North Dakota
	INREIT Fed-3 LLC	Colorado
	INREIT Sunset Ridge, LLC	North Dakota

      * Sold in November 2010

    ** 50% Ownership

  *** 81.25% Ownership

**** 40.26% ownership in TIC