Inland Real Estate Corporation is a self-managed, real estate investment trust (REIT). It owns and operates neighborhood, community, power and single tenant retail centers. It also may construct or develop properties or render services in connection with construction or development. As of December 31, 2011, it owned interests in 146 investment properties, including those owned through its unconsolidated joint ventures, which consist of 61 neighborhood retail centers totaling approximately 4,249,000 gross leasable square feet; 23 community centers totaling approximately 3,129,000 gross leasable square feet; 32 power centers totaling approximately 4,959,000 gross leasable square feet and 1,334,000 gross leasable square feet. In December 2012, it disposed two consolidated retail properties in the Greater Chicago and Indianapolis markets. In January 2013, it acquired for its consolidated portfolio Valparaiso Walk, a 137,509 square foot power center.