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<TITLE>Inland American Real Estate Trust, Inc.</TITLE>
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<META NAME="date" CONTENT="12/23/2005">
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</B><FONT COLOR=#000000><B><SMALL>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. &nbsp;20549<BR>
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FORM 8-K<BR>
<BR>
</B>CURRENT REPORT<BR>
<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934<BR>
<BR>
<BR>
Date of Report: December 20, 2005<BR>
(Date of earliest event reported)<BR>
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<B>Inland American Real Estate Trust, Inc.<BR>
</B>(Exact name of registrant as specified in its charter)<BR>
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<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Maryland</P>
</TD><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>000-51609</P>
</TD><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>34-2019608</P>
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<TR><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(State or other jurisdiction of incorporation)</P>
</TD><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Commission File No.)</P>
</TD><TD valign=top width=218.133><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(IRS Employer Identification No.)</P>
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2901 Butterfield Road<BR>
Oak Brook, Illinois 60523<BR>
(Address of Principal Executive Offices)<BR>
<BR>
<BR>
(630) 218-8000<BR>
(Registrant's telephone number including area code)<BR>
<BR>
<BR>
Not Applicable<BR>
(Former name or former address, if changed since last report)</P>
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<P style="margin:0pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing in intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman">[&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman">[&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style="margin:0pt; font-family:Times New Roman"><BR></P>
<P style="margin:0pt; font-family:Times New Roman">[&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
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<P style="margin:0pt; font-family:Times New Roman">[&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Item 2.01 &nbsp;Completion of Acquisition or Disposition of Assets.</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Our joint venture, Minto Builders (Florida), Inc., referred to herein as MB REIT, acquired the following property on the date indicated below:</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Walgreens; Springfield, Missouri</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">On December 20, 2005, MB REIT purchased from an unaffiliated third party, A-S 63 National-Cherokee L.P., a leasehold interest in an existing single-user building in Springfield, Missouri for a cash purchase price of approximately $3.6 million. The building contains approximately 14,560 of gross leasable square feet. </P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Item 9.01. &nbsp;Financial Statements, ProForma Financial Information and Exhibits</B></P>
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<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:18pt; text-indent:-18pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">(a)</P>
<P style="margin:0pt; padding-left:18pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Financial Statements</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Audited financial statements will be filed for the property as part of the New Quest Properties Portfolio under Rule 3-14 of the Securities and Exchange Commission Regulation S-X.</P>
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<P style="margin:0pt; padding-left:18pt; text-indent:18pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SIGNATURE</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
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<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=67.2>&nbsp;</TD><TD valign=top width=396.8><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">INLAND AMERICAN REAL ESTATE TRUST, INC.</P>
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<TR><TD valign=top width=67.2>&nbsp;</TD><TD valign=top width=396.8>&nbsp;</TD></TR>
<TR><TD valign=top width=67.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">By:</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=396.8><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;/s/ Lori J. Foust&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
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<TR><TD valign=top width=67.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Name:</P>
</TD><TD valign=top width=396.8><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Lori J. Foust</P>
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<TR><TD valign=top width=67.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Title:</P>
</TD><TD valign=top width=396.8><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Treasurer and Principal Accounting Officer</P>
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<TR><TD valign=top width=67.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Date:</P>
</TD><TD valign=top width=396.8><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>December 23, 2005</P>
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Inland American Real Estate Trust, Inc.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: December 20, 2005
(Date of earliest event reported)
Inland American Real Estate Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland
000-51609
34-2019608
(State or other jurisdiction of incorporation)
(Commission File No.)
(IRS Employer Identification No.)
2901 Butterfield Road
Oak Brook, Illinois 60523
(Address of Principal Executive Offices)
(630) 218-8000
(Registrant's telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing in intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.01  Completion of Acquisition or Disposition of Assets.
Our joint venture, Minto Builders (Florida), Inc., referred to herein as MB REIT, acquired the following property on the date indicated below:
Walgreens; Springfield, Missouri
On December 20, 2005, MB REIT purchased from an unaffiliated third party, A-S 63 National-Cherokee L.P., a leasehold interest in an existing single-user building in Springfield, Missouri for a cash purchase price of approximately $3.6 million. The building contains approximately 14,560 of gross leasable square feet.
Item 9.01.  Financial Statements, ProForma Financial Information and Exhibits
(a)
Financial Statements
Audited financial statements will be filed for the property as part of the New Quest Properties Portfolio under Rule 3-14 of the Securities and Exchange Commission Regulation S-X.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INLAND AMERICAN REAL ESTATE TRUST, INC.
By:
/s/ Lori J. Foust
Name:
Lori J. Foust
Title:
Treasurer and Principal Accounting Officer
Date:
December 23, 2005