Company: INRE
Filing Date: 2025-02-25
Form Type: SC TO-T
Source: 0001104659-25-016813
Chunk: 1

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-02-25
Form: SC TO-T
Chunk 1
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|   | ​ | ​ | If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:           |   |   |   |   |   |                                                       |
|   | ​ | ​ |                                                                                                                          | ​ | ​ | ¨ | ​ | ​ | Rule 13e-4(i) (Cross-Border Issuer Tender Offer)      |
|   | ​ | ​ |                                                                                                                          | ​ | ​ | ¨ | ​ | ​ | Rule 14d-1(d) (Cross-Border Third-Party Tender Offer) |

<div align='center'>TENDER OFFER</div>

This Tender Offer Statement on Schedule TO relates
to the offer (the “Offer”) by Comrit Investments 1, Limited Partnership (the “Purchaser”) to purchase up to 1,025,000
shares of common stock, par value $0.001 per share (the “Shares”), in Inland Real Estate Income Trust, Inc. (the “Corporation”),
the subject company, at a purchase price equal to $12.50 per Share, upon the terms and subject to the conditions set forth in the Offer
to Purchase (the “Offer to Purchase”) dated February 25, 2025 (the “Offer Date”) and the related Assignment
Form, copies of which are attached hereto as Exhibits (a)(1) and (a)(2), respectively. Any dividends paid after April 23, 2025,
or such other date to which the Offer may be extended (the “Expiration Date”), by the terms of the Offer and as set forth
in the Assignment Form, would be assigned by tendering Shareholders to the Purchaser. Comrit Investments Ltd. is being named as a bidder
herein because it is deemed to control the Purchaser, but otherwise is not participating in the Offer.

Tender of Shares will include the tender of any
and all securities into which the Shares may be converted and any securities distributed with respect to the Shares from and after the
Offer Date. The Purchaser is entitled to all proceeds that are paid after the Expiration Date from or as a result of any claim, litigation,
class or derivative action brought by or for the benefit of the tendering Shareholders with respect to the transferred Shares, regardless
of when the claims asserted and such action accrued.

The Corporation reported 16,047 holders of record
owning an aggregate of