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                                                                  Exhibit 10.407

[INLAND LOGO]

INLAND REAL ESTATE ACQUISITIONS, INC.
2901 Butterfield Road
Oak Brook, IL 60523
Phone: (630) 218-4948 Fax: 4935
www.inlandgroup.com

                                                  August 27, 2004

Seller or Beneficiary of the Titleholding Trust (Seller)
or Holder of the Power of Direction
c/o Continental 130 Fund LLC
Attn: Tom Keenan/Terry Aceto
W134 N8675 Executive Parkway
Menomonee Falls, WI 53051-3310

      RE:   PUBLIX SHOPPING CENTER
            MT. PLEASANT, SOUTH CAROLINA

Gentlemen:

     This letter represents this corporation's offer to purchase ("Contract")
the Publix Shopping Center with approximately 63,864 net rentable square feet,
situated on approximately 12 acres of land, located on U.S. Highway 17 and Park
West Boulevard, Mt. Pleasant, South Carolina. (see Exhibit A attached)

     The above property shall include all the land and buildings and common
facilities, as well as all personalty within the buildings and common areas,
supplies, landscaping equipment, and any other items presently used on the site
and belonging to owner.

     This corporation or its nominee will consummate this transaction on the
following basis:

     1.   The total purchase price shall be $12,100,734.00 all cash, plus or
          minus prorations, WITH NO MORTGAGE CONTINGENCIES, to be paid at
          CLOSING 10 BUSINESS DAYS following the expiration of the Inspection
          Period.

          Purchaser shall allocate the land, building and depreciable
          improvements prior to closing.

     2.   The initial Earnest Money shall be One Hundred Fifty Thousand and
          00/100 Dollars ($150,000.00). Unless Buyer has terminated this
          Agreement by the expiration of the Inspection Period, the Earnest
          Money shall be released to Seller.

     3.   There are no real estate brokerage commissions involved in this
          transaction.

     4.   Seller represents and warrants (TO THE BEST OF THE SELLER'S
          KNOWLEDGE), that the above referenced property is leased to the
          tenants described on Exhibit A. Any concessions given to any tenants
          that extend beyond the closing day shall be settled at closing by
          Seller giving a full cash credit to Purchaser for any and all of those
          concessions.

     5.   Seller warrants and represents that to Seller's knowledge and except
          as described in the Seller Deliveries (as hereafter defined) (a) the
          property is free of municipal violations, (b) the interior and
          exterior structures are in a good state of repair and structural
          problems, (c) property is in full compliance with Federal, State, City
          and County ordinances, environmental laws and concerns and (d) there
          are no options or rights of first refusal to purchase, nor is there
          any contemplated condemnation of any part of the property, nor are
          there any current or contemplated assessments. Notwithstanding the
          above, Publix had a right of first offer to purchase the Propery which
          was waived by Publix. A copy of the letter from Publix waiving their
          right of first offer is attached as Exhibit C.

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PUBLIX SHOPPING CENTER -- MT. PLEASANT, SC                             PAGE 2
AUGUST 27, 2004

     6.   Prior to closing, Seller shall not enter into or extend any agreements
          without Purchaser's approval which shall not be unreasonable withheld
          or delayed and any contract presently in existence not accepted by
          Purchaser shall be terminated by Seller. Any work presently in
          progress on the property shall be completed by Seller prior to
          closing.

     7.   Prior to closing Seller shall furnish Purchaser with estoppel letters
          reasonably acceptable to Purchaser from all tenants at the Property.
          Purchaser's sole remedy in connection with any failure of Seller to
          deliver acceptable estoppels shall be to terminate the contract by
          written notice to Seller and receive its earnest money.

     8.   Seller is responsible for payment of any LEASING BROKERAGE FEES or
          commissions which are due any leasing brokers for the existing leases
          stated above or for the renewal of same.

     9.   This offer is subject to Seller supplying to Purchaser prior to
          closing a certificate of insurance from the tenants and guarantors in
          the form as required in the leases.

     10.  The above sale of the real estate shall be consummated by conveyance
          of a full warranty deed subject to easements, restrictions and
          covenants of record from Seller to Purchaser's designee, with the
          Seller paying any city, state, or county transfer taxes for the
          closing, and Seller agrees to cooperate with Purchaser's lender, if
          any, and the money lender's escrow, provided that such shall be at
          Purchaser's sole expense.

     11.  The closing shall occur through Chicago Title & Trust Company, in
          Chicago, Illinois with Nancy Castro as Escrowee, 10 business days
          following the expiration of the Inspection Period, at which time title
          to the above property shall be marketable; i.e., free and clear of all
          liens, subject to easements, restrictions and covenants of record, and
          an ALTA form B owner's title policy with complete extended coverage,
          waiving off all new construction, 3.1 zoning including parking and
          loading docks, and insuring all improvements as legally conforming
          uses and not as non-conforming or conditional uses, paid by Seller,
          shall be issued, Seller shall provide a title commitment consistent
          with the foregoing within twenty (20) days of mutual acceptance of
          this Contract. All warranties and representations shall be true now
          and at closing and surviving the Closing for a period of one (1) year,
          and each party shall be paid in cash their respective credits,
          including, but not limited to, security deposits, rent and expenses.
          At Closing, Seller shall provide 1) a credit to Purchaser for all
          unpaid real estate taxes for the year prior to closing and 2) with
          regard to the year of closing, Seller shall provide Purchaser with a
          credit in the amount equal to the estimated real estate taxes
          collected by Seller from tenants which pay estimated real estate taxes
          on a monthly basis.

     12.  Purchaser's obligation to close in contingent upon neither Seller
          (Landlord) nor any tenant and guarantor being in default under the
          Leases at closing.

     13.  Seller warrants and represents that he has paid all unemployment taxes
          to date.

     14.  Prior to closing, Seller shall furnish to Purchaser copies of all
          guarantees and warranties which Seller received from any and all
          contractors and sub-contractors pertaining to the property. This offer
          is subject to Purchaser's satisfaction that all guarantees and
          warranties survive the closing and are assignable and transferable to
          any titleholder now and in the future.

     15.  Twenty (20) days after mutual acceptance of this Agreement, Seller
          must provide the title as stated above and a current Urban ALTA/ACSM
          spotted survey in accordance with the minimum standard detail
          requirements for ALTA/ACSM Land Title surveys jointly established and
          adopted by ALTA and ACSM in 1999 and includes all Table A optional

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PUBLIX SHOPPING CENTER -- MT. PLEASANT, SC                             PAGE 3
AUGUST 27, 2004

          survey responsibilities other than the topographies, being #5 of Table
          A. Buyer shall pay the cost of the updated survey, unless this
          transaction closes, in which case Seller shall pay.

     16.  As an inducement for Purchaser to purchase the Property
          notwithstanding the vacant 1531 square feet noted on Exhibit A
          ("Vacant Space"), Seller agrees to pay to Purchaser each month as set
          forth below, for the period not to exceed the first twelve (12) months
          immediately following the Closing Date ("Master Lease Term"), until
          the Vacant Space is leased, rent at a rate of $18.50 per square foot
          plus an amount to reimburse Common Area Maintenance ("CAM"), Insurance
          and taxes for the Vacant Space at the rate of 3.85 per square foot
          (collectively the "Vacant Space Rent"), which the parties agree is the
          value of such space for which Purchaser has paid Seller under this
          Agreement. The Seller will be responsible for leasing the Vacant Space
          for the Master Lease Term and agrees to use its best efforts to lease
          such space upon terms generally available in the area where the
          Premises are located, and provided that the rent for such lease is at
          least $18.50 per square foot, plus full pass throughs for CAM,
          insurance and taxes consistent with the terms and conditions of the
          other Leases (except the Publix Lease). Purchaser retains the right to
          reasonably approve potential tenants and shall in good faith evaluate
          all potential tenants of the Vacant Space. Purchaser may reject any
          lease which is proposed by Seller the rental for which is less than
          $18.50 per square foot plus CAM, taxes and insurance. Seller shall be
          solely liable for all build out costs, commissions, concessions and
          all other costs and charges incurred in connection with the leasing of
          any portion of the Vacant Space (unless any such costs are offset by
          Vacant Space Rent being in excess of $18.50 per square foot) and shall
          indemnify and guaranty to Purchaser all such costs. Seller shall be
          solely liable to any such tenant for any "punch list" items and "call
          backs" requested by any such tenant within one year of the inception
          of such lease. Seller agrees that if it fails to lease the Vacant
          Space by the expiration of the Master Lease Term, Seller shall put the
          Vacant Space into rentable condition.

          Purchaser acknowledges that Seller has delivered the inducements,
          abatements, concessions or cash payments given to tenants and (Leases)
          and any and all reports, environmental, appraisal, investigations of
          studies in the Seller's possession with respect to the Property
          identified on the attached Exhibit B (collectively "Seller's
          Deliveries"). Purchaser acknowledges that except with respect to
          Leases, Seller does not warranty or represent to the accuracy of any
          information contained in the Seller's Deliveries. Seller agrees to
          cooperate fully with Purchaser and Purchaser's representatives to
          facilitate Purchaser's evaluations and reports at Purchaser's sole
          expense, including at least a one-year audit of the books and records
          of the property thirty (30) days from the date of execution of this
          Purchase Contract ("Inspection Period"), during which time to, among
          other things, complete Purchaser's due diligence.

          At the end of the Inspection Period, Purchaser shall either indicate
          Purchaser's decision to terminate this Contract for any reason or
          shall waive any of the above contingencies or shall notify Seller of
          Purchaser's decision to terminate this Contract for any reason, in
          which latter case the Contract shall expire and the Earnest Money
          shall be returned to Purchaser. In the event Purchaser shall fail to
          notify Seller of the satisfaction or waiver of the contingencies on or
          before the expiration of the Inspection Period, the same shall be
          deemed to have been waived and the parties should proceed to closing.

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PUBLIX SHOPPING CENTER -- MT. PLEASANT, SC                             PAGE 4
AUGUST 27, 2004

     If this offer is acceptable, please HAVE THE SELLER sign the original of
this letter and initial each page, keeping copies for your files and returning
the original to me by September 3, 2004,

                                           Sincerely,
ACCEPTED:
CONTINENTAL 130 FUND LLC, a Wisconsin      INLAND REAL ESTATE ACQUISITIONS, INC.
limited liability company                  or nominee


By: CONTINENTAL PROPERTIES COMPANY,        /s/ Lou Quilici
INC., a Wisconsin corporation, its manager ---------------
                                           Lou Quilici
                                           Senior Vice President


By:   /s/ Daniel J. Minahan                /s/ G. Joseph Cosenza
      ------------------------------------ ---------------------
      Daniel J. Minahan                    G. Joseph Cosenza
      President                            Vice Chairman

Date:       09.08.04
      ------------------------------------