Inland Real Estate Corporation Completes Sale of Two Retail Properties for $7.5 Million

  Inland Real Estate Corporation Completes Sale of Two Retail Properties for
  $7.5 Million

Business Wire

OAK BROOK, Ill. -- December 10, 2012

Inland Real Estate Corporation (NYSE: IRC) today announced that the Company
has completed the disposition of two consolidated retail properties in the
Greater Chicago and Indianapolis markets for a combined sales price of $7.5
million.

On December 6th, the Company sold for $5.7 million the 67,632-square-foot,
multi-tenant Butera Market shopping center in Naperville, Illinois to the
independent owner-operator of the property’s anchoring supermarket. The
Company also sold for $1.8 million a vacant 67,541-square-foot retail property
in Indianapolis, Indiana that was formerly leased to Cub Foods, a subsidiary
of Supervalu Inc. The Company initiated the early termination of the lease
with Cub Foods for this location in 2011 in order to reduce exposure to
Supervalu and to facilitate sale of the asset to Wal-Mart Stores, Inc.

Commented Scott Carr, chief investment officer for Inland Real Estate
Corporation, “The sale of these non-strategic properties is part of a
well-considered capital recycling plan that further refines and strengthens
our portfolio. We expect to use the proceeds to acquire higher quality Class A
properties within our target Midwest markets and, in fact, have under contract
several assets with healthy growth potential.”

About Inland Real Estate Corporation

Inland Real Estate Corporation is a self-administered and self-managed
publicly traded real estate investment trust (REIT) that owns and operates
open-air neighborhood, community, power and lifestyle retail centers and
single-tenant properties located primarily in the Midwestern United States. As
of September 30, 2012, the Company owned interests in 150 investment
properties, including 42 owned through its unconsolidated joint ventures, with
aggregate leasable space of approximately 15 million square feet. Additional
information on Inland Real Estate Corporation is available at
www.inlandrealestate.com.

Contact:

Inland Real Estate Corporation Contacts:
Dawn Benchelt, Director of Investor Relations
(630) 218-7364
benchelt@inlandrealestate.com
or
Joel Cunningham, Media Relations
(630) 586-4897
joel.cunningham@inlandrealestate.com