Filed pursuant to 424(b)(3)
Registration No. 333-176775

SUPPLEMENT NO. 27
DATED FEBRUARY 5, 2015
TO THE PROSPECTUS DATED APRIL 16, 2014
OF INLAND REAL ESTATE INCOME TRUST, INC.

This Supplement No. 27 supplements, and should be read in conjunction with, the prospectus of Inland Real Estate Income Trust, Inc., dated April 16, 2014, as previously supplemented by Supplement No. 26 dated January 30, 2015 (which superseded and replaced all prior supplements). Unless otherwise defined in this Supplement No. 27, capitalized terms used herein have the same meanings as set forth in the prospectus.

Plan of Distribution

The following information is inserted at the end of the section of the prospectus captioned “Plan of Distribution,” which begins on page 171 of the prospectus.

Status of the Offering

The following table provides information regarding the total shares sold in our offering as of January 31, 2015.

	Shares	Gross Offering Proceeds ($) (1)	Commissions and Fees ($) (2)	Proceeds To Us, Before Expenses ($) (3)
From our sponsor in connection with our formation:	20,000	200,000	–	200,000
Shares sold in the offering:	45,073,593.435	447,981,195	41,847,053	406,134,142
Shares sold pursuant to our distribution reinvestment plan:	729,066.525	6,926,132	–	6,926,132
Shares purchased pursuant to our share repurchase program:	(29,451.242)	(271,533)	–	(271,533)
Total:	45,793,208.718	454,835,794	41,847,053	412,988,741

(1) Gross proceeds received by us as of the date of this table for shares sold to investors pursuant to accepted subscription agreements.

(2) Inland Securities Corporation serves as dealer manager of this offering and is entitled to receive selling commissions and certain other fees, as discussed further in our prospectus.

(3) Organization and offering expenses, excluding commissions, will not exceed 1.5% of the gross offering proceeds. These expenses include registration and filing fees, legal and accounting fees, printing and mailing expenses, bank fees and other administrative expenses.

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