On December 17, 2008, Inland Real Estate Corporation (the "Company") issued a press release announcing that the Company paid a cash distribution of $0.08167 per share on the outstanding shares of its common stock to common stockholders of record at the close of business on December 1, 2008. In addition, the Company announced that it has declared a cash distribution of $0.08167 per share on the outstanding shares of its common stock, payable on January 20, 2009 to common stockholders of record at the close of business on December 31, 2008. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated in its entirety in this Item 8.01 disclosure by reference.

(a) Financial Statements of Businesses Acquired: N/A

(b) Pro Forma Financial Information: N/A
(c) Shell Company Transactions: N/A

(d) Exhibits:

            Exhibit No.      Description

              99.1           Press release of Inland Real Estate
                             Corporation, dated December 17, 2008