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<TITLE>X-Change Corporation Announces Appointment of Walter Raquet to Board of Directors</TITLE>
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<META NAME="date" CONTENT="02/22/2006">
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<P style="line-height:normal; margin-top:4.15pt; margin-bottom:4.15pt; font-size:18pt" align=center><FONT FACE="Times New Roman" COLOR=#000000><B>UNITED STATES <BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
</FONT><SMALL>WASHINGTON, D.C. &nbsp;20549 </SMALL></B></P>
<P style="margin:5pt" align=center><BR></P>
<P style="line-height:20pt; margin-top:7.5pt; margin-bottom:7.5pt; font-size:18pt" align=center><B>FORM 8-K<BR>
CURRENT REPORT</B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=center>Date of Report (Date of earliest event reported): &nbsp;February 22, 2006</P>
<P style="line-height:normal; margin-top:5pt; margin-bottom:5pt; font-size:18pt" align=center><B>INLAND AMERICAN REAL ESTATE TRUST, INC. <BR>
</B><SMALL>(Exact Name of Registrant as Specified in its Charter) </SMALL></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=105.5></TD><TD width=10.2></TD><TD width=105.5></TD><TD width=10.2></TD><TD width=105.55></TD></TR>
<TR><TD valign=top width=140.667><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><B>Maryland<BR>
</B>(State or Other Jurisdiction of Incorporation)</P>
</TD><TD valign=top width=13.6><P style="margin:0pt">&nbsp;</P>
</TD><TD valign=top width=140.667><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><B>000-51609<BR>
</B>(Commission File Number)</P>
</TD><TD valign=top width=13.6><P style="margin:0pt">&nbsp;</P>
</TD><TD valign=top width=140.733><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><B>34-2019608<BR>
</B>(IRS Employer Identification No.)</P>
</TD></TR>
<TR><TD valign=top width=449.267 colspan=5><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><BR>
<B>2901 Butterfield Road<BR>
Oak Brook, Illinois 60523<BR>
</B>(Address of Principal Executive Offices)</P>
</TD></TR>
<TR><TD valign=top width=449.267 colspan=5><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><BR>
<B>(630) 218-8000<BR>
</B>(Registrant&#146;s Telephone Number, Including Area Code)</P>
</TD></TR>
<TR><TD valign=top width=449.267 colspan=5><P style="line-height:normal; margin:0pt; font-size:12pt" align=center><BR>
<B>N/A<BR>
</B>(Former Name or Former Address, if Changed Since Last Report)</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:10pt" align=justify>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR><TD width=27.5></TD><TD width=431.4></TD></TR>
<TR><TD valign=top width=36.667><P style="margin:0pt; font-family:Wingdings 2"><FONT FACE="Wingdings 2">&#163;</FONT></P>
</TD><TD valign=top width=575.2><P style="margin-top:0pt; margin-bottom:10pt"><FONT FACE="Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
</TD></TR>
<TR><TD valign=top width=36.667><P style="margin:0pt; font-family:Wingdings 2"><FONT FACE="Wingdings 2">&#163;</FONT></P>
</TD><TD valign=top width=575.2><P style="margin-top:0pt; margin-bottom:10pt"><FONT FACE="Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
</TD></TR>
<TR><TD valign=top width=36.667><P style="margin:0pt; font-family:Wingdings 2"><FONT FACE="Wingdings 2">&#163;</FONT></P>
</TD><TD valign=top width=575.2><P style="margin-top:0pt; margin-bottom:10pt"><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
</TD></TR>
<TR><TD valign=top width=36.667><P style="margin:0pt; font-family:Wingdings 2"><FONT FACE="Wingdings 2">&#163;</FONT></P>
</TD><TD valign=top width=575.2><P style="margin:0pt"><FONT FACE="Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
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<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt; page-break-before:always"><B>Item 8.01. &nbsp;Other Events.</B></P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; text-indent:36pt; font-size:12pt" align=justify>On February 22, 2006, Inland American Real Estate Trust, Inc. (the &#147;Company&#148;) issued a press release announcing that its 2006 annual meeting of stockholders will be held on April 21, 2006. &nbsp;Additional meeting details and the procedures for admission will be included in the Company&#146;s 2006 annual meeting proxy statement, which the Company expects to begin mailing on or about March 13, 2006. &nbsp;Stockholders of record as of the close of business on February 22, 2006 are entitled to receive notice of, and vote at, the annual meeting. &nbsp;A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated in its entirety in this Item 8.01 disclosure by reference.</P>
<P style="line-height:14pt; margin-top:5pt; margin-bottom:5pt; font-size:12pt" align=justify><B>Item 9.01. &nbsp;Financial Statements and Exhibits.</B></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=36></TD><TD width=36></TD><TD width=378></TD></TR>
<TR><TD valign=top width=48><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=top width=48><P style="line-height:14pt; margin:0pt; font-size:12pt">(a)</P>
</TD><TD valign=top width=504><P style="line-height:14pt; margin:0pt; font-size:12pt">Financial Statements of Businesses Acquired: &nbsp;N/A </P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=36></TD><TD width=36></TD><TD width=378></TD></TR>
<TR><TD valign=top width=48><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=top width=48><P style="line-height:14pt; margin:0pt; font-size:12pt">(b) </P>
</TD><TD valign=top width=504><P style="line-height:14pt; margin:0pt; font-size:12pt">Pro Forma Financial Information: &nbsp;N/A</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=36></TD><TD width=36></TD><TD width=378></TD></TR>
<TR><TD valign=top width=48><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=top width=48><P style="line-height:14pt; margin:0pt; font-size:12pt">(c) </P>
</TD><TD valign=top width=504><P style="line-height:14pt; margin:0pt; font-size:12pt">Exhibits:</P>
</TD></TR>
</TABLE>
<P style="margin:0pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=70.45></TD><TD width=108.45></TD><TD width=271.1></TD></TR>
<TR><TD valign=bottom width=93.933><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=bottom width=144.6><P style="line-height:14pt; margin:0pt; font-size:12pt"><U>Exhibit No.</U></P>
</TD><TD valign=bottom width=361.467><P style="line-height:14pt; margin:0pt; font-size:12pt"><U>Description</U></P>
</TD></TR>
<TR><TD valign=bottom width=93.933><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=bottom width=144.6><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=bottom width=361.467><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=93.933><P style="margin:0pt; font-size:12pt">&nbsp;</P>
</TD><TD valign=top width=144.6><P style="line-height:14pt; margin-top:0pt; margin-bottom:6pt; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;99.1</P>
</TD><TD valign=bottom width=361.467><P style="line-height:14pt; margin-top:0pt; margin-bottom:6pt; font-size:12pt">Press release of Inland American Real Estate Trust, Inc., dated February 22, 2006</P>
</TD></TR>
<TR><TD valign=bottom width=93.933>&nbsp;</TD><TD valign=top width=144.6>&nbsp;</TD><TD valign=bottom width=361.467>&nbsp;</TD></TR>
<TR><TD valign=bottom width=93.933>&nbsp;</TD><TD valign=top width=144.6>&nbsp;</TD><TD valign=bottom width=361.467>&nbsp;</TD></TR>
</TABLE>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; text-indent:36pt; font-size:12pt" align=justify>&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; page-break-before:always" align=justify><BR></P>
<P style="line-height:14pt; margin:0pt; font-size:12pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0pt" align=center><BR></P>
<P style="line-height:14pt; margin:0pt; text-indent:36pt; font-size:12pt" align=justify>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>
<P style="margin:0pt" align=justify><BR></P>
<P style="margin:0pt" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; padding-left:180pt; text-indent:36pt; font-size:12pt">INLAND REAL ESTATE CORPORATION</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD width=50.4></TD><TD width=212.4></TD></TR>
<TR><TD valign=top width=67.2><P style="line-height:14pt; margin:0pt; font-size:12pt">By:</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=283.2><P style="line-height:14pt; margin:0pt; font-size:12pt">/s/ Lori J. Foust</P>
</TD></TR>
<TR><TD valign=top width=67.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Name:</P>
</TD><TD valign=top width=283.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Lori J. Foust</P>
</TD></TR>
<TR><TD valign=top width=67.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Title:</P>
</TD><TD valign=top width=283.2><P style="line-height:14pt; margin:0pt; font-size:12pt">Treasurer and Principal Accounting Officer</P>
</TD></TR>
</TABLE>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; font-size:12pt">Date: &nbsp;February 22, 2006</P>
<P style="margin-top:0pt; margin-bottom:12pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt" align=center><BR>
<BR></P>
<P style="margin:0pt"><BR></P>
<P style="margin:0pt"><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; font-size:12pt; page-break-before:always" align=center><B><U>EXHIBIT INDEX</U></B></P>
<P style="margin-top:0pt; margin-bottom:12pt" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; font-size:12pt" align=justify><U>Exhibit No.</U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; text-indent:108pt; font-size:12pt" align=justify><U>Description</U></P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; text-indent:-96pt; font-size:12pt" align=justify>99.1</P>
<P style="line-height:14pt; margin-top:0pt; margin-bottom:12pt; padding-left:108pt; font-size:12pt" align=justify>Press release of Inland American Real Estate Trust, Inc., dated February 22, 2006</P>
<P style="margin-top:0pt; margin-bottom:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt" align=justify><BR>
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X-Change Corporation Announces Appointment of Walter Raquet to Board of Directors
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 (Date of earliest event reported):  February 22, 2006
INLAND AMERICAN REAL ESTATE TRUST, INC.
(Exact Name of Registrant as Specified in its Charter)
Maryland
(State or Other Jurisdiction of Incorporation)
000-51609
(Commission File Number)
34-2019608
(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)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is 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 8.01.  Other Events.
On February 22, 2006, Inland American Real Estate Trust, Inc. (the "Company") issued a press release announcing that its 2006 annual meeting of stockholders will be held on April 21, 2006.  Additional meeting details and the procedures for admission will be included in the Company's 2006 annual meeting proxy statement, which the Company expects to begin mailing on or about March 13, 2006.  Stockholders of record as of the close of business on February 22, 2006 are entitled to receive notice of, and vote at, the annual meeting.  A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated in its entirety in this Item 8.01 disclosure by reference.
Item 9.01.  Financial Statements and Exhibits.
(a)
Financial Statements of Businesses Acquired:  N/A
(b)
Pro Forma Financial Information:  N/A
(c)
Exhibits:
Exhibit No.
Description
99.1
Press release of Inland American Real Estate Trust, Inc., dated February 22, 2006
SIGNATURES
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 REAL ESTATE CORPORATION
By:
/s/ Lori J. Foust
Name:
Lori J. Foust
Title:
Treasurer and Principal Accounting Officer
Date:  February 22, 2006
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press release of Inland American Real Estate Trust, Inc., dated February 22, 2006