Investor Lawyers Blog
Investors in Inland Land Appreciation Fund II, L.P. (“Inland II” or the “Limited Partnership) may be able to recover losses on their investment through initiating an arbitration proceeding with FINRA Dispute Resolution. Inland II is based in Oak Brook, IL and is structured as a Delaware Limited Partnership. The Limited Partnership was formed in June 1989, to invest in undeveloped land on an all-cash basis and realize the upside appreciation upon resale. In October 1989, the Partnership commenced an offering of limited partnership units at $1,000 per unit. In connection with this initial offering, Inland II received $50,476,170 in gross offering proceeds, and accepted all unit holders into the partnership. The General Partner is Inland Real Estate Investment Corporation.
Pursuant to their business model, Inland II purchased, on an all-cash basis, 27 parcels of undeveloped land and two buildings. All of these investments were made in the Chicago, IL metropolitan area. Initially, the partnership anticipated holding the properties for a period of 2 -7 years from the time of land portfolio acquisitions. However, due to several factors, including lengthy rezoning and entitlement processes, the Limited Partnership’s holding period greatly exceeded their initial estimates.
According to publicly available documents filed with the Securities and Exchange Commission (“SEC”), as of December 31, 2016, the Limited Partnership had a remaining parcel of land it had yet to sell.