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					Name                        Bridford Aparments            Name                               Bridford Apartments
                                                          Extra monthly rent              $105 for a Drive-in Garage
# of Units                           320                  for Parking?                          (Area: 20'x12')
                    Attractive (Gated Fence w/
Location Rating-    possibility of Guard) setting
Feel                 on Bridford Rd.                      Percent Occupancy                         96.90%

                    Surrounded with eateries and
                    shopping (Walmart,Kmart, Harris
                    Teeter,Fine Cuisine)
Location Rating-    Location @ Wendover & Bridford
Lifestyle           w/in 5 mins of I-40                   Year Built                                 1998
                    Attractive brick w/ siding, well-
                    maintained, Well Light, Cement
                    Stairwells, nicely landscaped
                    grounds w/ shrubbery covering
Property Appeal -   utilities, newly planted trees,
Exterior            Abundant Parking                      Concessions?                   None


                    Excellent.Small lounge area
                    furnished, Exercise Room overlooks
                    pool, which overlooks small lake.W/    Full Cookout Area w/
                    a lounge area that overlooks lake     benches. Central Wash/Dry
Property Appeal -   beyond pool & a small pier leading    Area with 8 Units, 2 Folding
                    to the gazebo which overlooks the     Tables & "Key Card Entry".
Units and Common    lake. Well-maintained. Plentiful      Distributed Trash Cans for
areas               seating outside w/ tables.            Dog "Duties"


                    "Small Town" gated feeling with
                    generous space. 8 units overlook
                    lake. Multiple Play areas.
View                Sidewalks throughout.

                                                                Unusual & significant features
Utilities                                                      (relative to Property & Location):
 Who pays heat?                     tenant                   Community Room               1
                                                                                                Yes, Not heated,
 Electric?                          tenant                   Swimming Pool                      but has a Jacuzzi
                                                                                         2 treadmill, 3 bikes,
                                                                                         2 Stairmasters,
                                                                                          & 6 Weight Lifting Machines,
 Water?                             tenant                   Exercise room               + TV
Rent Rates
 1 Bedroom                          $700
   S.F.                              920                  Other
   $/sq. ft.                        $0.76                 Play Area                                                  1
 2 Bedroom                          $850                  Tennis Court                                               1
   S.F.                             1073                  Patio                          Sq Ft (3ftx5ftx6ft)
                                                                                         Tenant may bring Own, or
   $/sq. ft.                        $0.79                 Washer/Dryer                   Rent for $35/month
                                                                                         Under 20lbs $250,
                                                                                         21lbs or more $350
 3 Bedroom                           975                  Pet Fee                        (One-time Non-refundable)
                                                                                         1 ($.75 Vacuum, Water
                                                                                         Hoses: Two open garage
    S.F.                            1434                  Car Care Center                drive-ins)

   $/sq. ft.                        $0.68                 Putt Practice Area, Volleyball Court
        Deposit                     $250
                     Comparables: Market Rent of Subject Property based on Comparables
                                    100 North Main Rent Study
                                          Rent Study
                                                                                           Havenwood    Havenwood
                     River's Edge-      Washington    Historic Fox River   River Place -    Heights -   Heights IV -   Rivers Edge -   Main Street Plaza -
Name                  Green Bay      Square-Green Bay Mills - Appleton       Oshkosh        Oshkosh     Oshkosh         Waukesha          Waukesha


1 Bedroom                  $700           #REF!            #REF!            #REF!                 NA              $0             $0                 $0
    Appeal of
    Neighborhood            $25                ($40)             ($50)              $25                          $0             $0                  $0
    Value of River
    Appeal of the          ($25)               ($25)             ($25)             ($40)                        $35           ($50)                 $0
    building and
    grounds
    (indoor and
    exterior,
    excluding
    amenities but
    accounting for
    age)                    $20                  $0                $0               $20                          $0             $0                  $0
    Amenities               $10                  $0               $20               $20                         $10            $20                 $20
    Indoor parking          $30                  $0                $0                $0                          $0             $0                 $30
    Highrise floor
    adjustment               $0                  $0                $0                $0                          $0              $0                 $0
    Size of Units           $30                  $0                $0              ($20)                        $10              $0               ($10)
    General Rents
    in the Overall
    Community                                    $0                $0                 $0                          $0        ($100)              ($100)
Adjusted Market
Rent                       $790           #REF!            #REF!            #REF!                               $55         ($130)                ($60)
Adjusted Market
Rent Including 3%
Inflation                  $814           #REF!            #REF!            #REF!                               $57         ($134)                ($62)

2 Bedroom                  $850           #REF!            #REF!            #REF!           #REF!                 $0             $0 NA
    Appeal of
    Neighborhood            $25                ($40)             ($50)              $25          $0              $0             $0
    Value of River
    Appeal of the          ($25)               ($25)             ($25)             ($40)        $35             $35           ($50)
    building and
    grounds
    (indoor and
    exterior,
    excluding
    amenities but
    accounting for
    age)                    $20                  $0                $0               $20          $0              $0             $0
    Amenities               $10                  $0               $20               $20         $10             $10            $20
    Indoor parking          $30                  $0                $0                $0          $0              $0             $0
    Highrise floor
    adjustment               $0                  $0                $0                $0          $0              $0              $0
    Size of Units           $50                  $0               $40               $10        ($10)            $10              $0
    General Rents
    in the Overall
    Community                 $0                 $0                $0                 $0          $0              $0        ($150)
Adjusted Market
Rent                       $960           #REF!            #REF!            #REF!           #REF!               $55         ($180)
Adjusted Market
Rent Including 3%
Inflation                  $989           #REF!            #REF!            #REF!           #REF!               $57         ($185)

3 Bedroom            NA              NA                    #REF!                      NA          NA              NA             NA                  NA
    Appeal of
    Neighborhood                                                 ($50)
    Value of River
    Appeal of the                                                ($25)
    building and
    grounds
    (indoor and
    exterior,
    excluding
    amenities but
    accounting for
    age)                                                           $0
    Amenities                                                     $20
    Indoor parking                                                 $0
    Highrise floor
    adjustment                                                     $0
    Size of Units                                                  $0
Adjusted Market
Rent                                                       #REF!
Adjusted Market
Rent Including 3%
Inflation                                                  #REF!

Information believed to be accurate but is not guaranteed.
                               Adjusted Market Rents (Including a 3% inflation adjustment)
                                      100 North Main, Oshkosh Rent Study
The adjusted market rents below list the theoretical market rents of 100 N. Main, based on adjusting the rents of each of the properties.
                                  Washington    Historic Fox                    Havenwood Havenwood                       Main Street
                   River's Edge- Square-Green   River Mills -   River Place -    Heights - Heights IV -   Rivers Edge -    Plaza -
Name                Green Bay        Bay         Appleton         Oshkosh        Oshkosh   Oshkosh         Waukesha       Waukesha      Avg.or Mean




1 Bedroom             $814        #REF!          #REF!           #REF!                              $57       ($134)           ($62)     #REF!
2 Bedroom             $989        #REF!          #REF!           #REF!           #REF!              $57       ($185)                     #REF!
3 Bedroom                                        #REF!                                                                                   #REF!




Information believed to be accurate but is not guaranteed.
        Adjusted Market Rents vs Projected Rents
        100 North Main

         Average of
          Adjusted Projected          Variance
          Market    Subject             vs.
Bedrooms   Rents     Rents            Average
    1      #REF!     $775              #REF!
    2      #REF!    $1,075             #REF!
    3      #REF!    $1,225             #REF!

Notes:
1. Because 100 N. Main will be ready for leasing in one year,
   a 3% inflation adjustment has been added to adjusted market rents
2. Please see "Adjusted Market Rents (including a 3% inflation adjustment)"
   and "Comparables" worksheets
   for calculation details.
3. At this time, the developers anticipate charging the above projected Subect Rents




Information believed to be accurate but is not guaranteed.
Quick and Dirty Valuation based on Rent Study Figures
                100 N. Main

                                 Adjusted
                                Market Rent
                     # of      including 3%
   Bedrooms       Bedrooms      appreciation
       1              15           #REF!             #REF!
       2              25           #REF!             #REF!
       3              22           #REF!             #REF!
Total Apartment Rent                              #REF!

Other Income                                         $2,400
Vacancy                                           #REF!        #REF!
Expenses                                          #REF!         35.00%
Commercial Income                                  $175,476
Commercial Vacancy                                 -$18,425     10.50%
NOI B-4 Debt                                      #REF!
Cap Rate                                             8.25%
Value                                             #REF!
Mortgage @ LTV     80.00%                         #REF!
Equity                                            #REF!


Note: Market Rents are an average of the average and median rents




Information believed to be accurate but is not guaranteed.