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                                                                  Exhibit 10.302

                            ASSIGNMENT AND ASSUMPTION
                         OF PURCHASE AND SALE AGREEMENT

     This ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT (this
"Assignment") is made and entered into this 21 day of July, 2004 by Inland Real
Estate Acquisitions, Inc., an Illinois Corporation, ("Assignor"), and Inland
Western Southlake Limited Partnership, an Illinois limited partnership,
("Assignee").

                                    RECITALS

     A.   Lincoln Southlake, Ltd. ("Seller") and Assignor have previously
entered into that certain Purchase and Sale Agreement dated as of May 20, 2004,
as amended, (the "Purchase Agreement"), relating to the sale of a certain
shopping center commonly known as Gateway Plaza Shopping Center located in the
City of Southlake, Texas.

     B.   Assignor desires to assign its interest in and to the Purchase
Agreement to Assignee upon the terms and conditions contained herein.

     NOW, THEREFORE, in consideration of the receipt of ten and 00/100 Dollars
($10.00) and other good and valuable consideration in hand paid by Assignee to
Assignor, the receipt and sufficiency of which are hereby acknowledged by
Assignor, the parties hereby agree as follows:

     1.   RECITALS. The foregoing recitals are, by this reference, incorporated
          into the body of this Assignment as if the same had been set forth in
          the body hereof in their entirety.

     2.   ASSIGNMENT AND ASSUMPTION. Assignor hereby assigns, conveys,
          transfers, and sets over to Assignee all of Assignor's right, title,
          and interest in and to the Purchase Agreement. Assignee hereby accepts
          the foregoing Assignment and assumes, and agrees to perform, all
          duties, obligations, liabilities, indemnities, covenants, and
          agreements of Assignor set forth in the Purchase Agreement.

     3.   COUNTERPARTS. This document may be executed in any number of
          counterparts, each of which may be executed by any one or more of the
          parties hereto, but all of which must constitute one instrument and
          shall be binding and effective when all parties hereto have executed
          at least one counterpart.

     4.   SUCCESSORS. This Assignment shall be binding upon and for the benefit
          of the parties hereto and their respective Successors and Assigns.

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     IN WITNESS WHEREOF, Assignor and Assignee have caused this Assignment to be
executed as of the day and year first written above.

ASSIGNOR:

INLAND REAL ESTATE ACQUISITIONS, INC.,
An Illinois Corporation

By:      /s/ G. Joseph Cosenza
    ----------------------------------
Name:      G. Joseph Cosenza
      --------------------------------
Title:       President
      --------------------------------

ASSIGNEE:

INLAND WESTERN SOUTHLAKE LIMITED
PARTNERSHIP, an Illinois limited partnership

By:   Inland Western Southlake GP, L.L.C., a
      Delaware limited liability company, its
      general partner

      By:   Inland Western Retail Real Estate Trust
            Inc., a Maryland corporation, its sole member

            By:        /s/ Valerie Medina
                   -----------------------------
            Name:      Valerie Medina
                   -----------------------------
            Title:     Asst. Secretary
                   -----------------------------

                                      - 2 -<Page>

                                                                  Exhibit 10.303

                               SECOND AMENDMENT TO
                           PURCHASE AND SALE AGREEMENT

     THIS SECOND AMENDMENT (the "Second Amendment") is made and entered into
this 15th day of July, 2004, by and between LINCOLN SOUTHLAKE, LTD. ("Seller")
and INLAND REAL ESTATE ACQUISITIONS, INC. ("Purchaser").

                                    RECITALS

     A.   Purchaser and Seller entered into a Letter Agreement dated May 20,
2004 accepted by Seller on May 21, 2004 (the "Letter Agreement"), as amended by
First Amendment to Purchase and Sale Agreement dated June 30, 2004 (the "First
Amendment", and together with the Letter Agreement, the "Purchase Agreement"),
providing for the purchase and sale of the Gateway Plaza Shopping Center,
Southlake, Texas. Capitalized terms used but not defined herein shall have the
meanings ascribed thereto in the Purchase Agreement.

     B.   Purchaser and Seller desire to amend the Purchase Agreement as
hereinafter set forth.

                                   AMENDMENTS

     NOW THEREFORE, in consideration of the mutual premises contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

     1.   Paragraph 1 of the Letter Agreement, as amended by the First
Amendment, is amended by:

          a.   Deleting the words "on or before July 16, 2004" from the first
               sentence thereof and inserting the following in its place "on or
               before July 21, 2004";

          b.   Deleting the words "on or before July 16, 2004," from the third
               sentence thereof and inserting the following in its place "on or
               before July 21, 2004"; and

          c.   Deleting the words "it is understood and agreed that the
               purchaser may automatically and immediately receive its earnest
               money deposit back if it terminates this agreement for any reason
               or no reason at all on or before July 16, 2004" from the last
               sentence thereof and inserting the following in its place "it is
               understood and agreed that the purchaser may automatically and
               immediately receive its earnest money deposit back if it
               terminates this agreement for any reason or no reason at all on
               or before July 21, 2004."

                                      - 1 -
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     2.   Paragraph 10 of the Letter Agreement, as amended by the First
Amendment, is amended by deleting the words "July 16, 2004," and inserting in
its place "July 21, 2004".

     3.   Purchaser and Seller hereby agree that all references to the date of
July 16, 2004 set forth in the Letter of Escrow Instructions (a copy of which is
attached hereto as Exhibit A) are deleted and replaced with "July 21, 2004."
Purchase and Seller, by their execution hereof, agree to execute an amendment to
the Letter of Escrow Instructions with the Title Company in conformity herewith,
provided, however, regardless of whether or not such amendment is ever executed,
with respect to such date, this Second Amendment shall supersede and control.

     4.   Except as expressly provided herein, the Purchase Agreement remains
unmodified and in full force and effect. This Second Amendment may be executed
in any number of counterparts, all of which when take together shall constitute
one and the same instrument. Signatures transmitted via facsimile shall be
deemed original signatures for purposes of creating a valid and binding
agreement.

     IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment
as of the date first written above.

                                       SELLER:

                                       LINCOLN SOUTHLAKE LTD.

                                       By:    Akard Ervay, Inc., general partner

                                              By:    /s/ Matt Turner
                                                     ----------------------
                                              Name:      Matt Turner
                                                     ----------------------
                                              Title:     Vice President
                                                     ----------------------

                                       PURCHASER:

                                       INLAND REAL ESTATE ACQUISITIONS,
                                       INC., an Illinois corporation

                                       By:    /s/ Joe Cosenza
                                              -----------------------------
                                       Name:
                                              -----------------------------
                                       Title:
                                              -----------------------------

                                      - 2 -
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                               FIRST AMENDMENT TO
                           PURCHASE AND SALE AGREEMENT

     THIS FIRST AMENDMENT is made and entered into this 30th day of June, 2004
by and between LINCOLN SOUTHLAKE, LTD. ("Seller") and INLAND REAL ESTATE
ACQUISITIONS, INC. ("Purchaser").

                                    RECITALS

     A.   Purchaser and Seller entered into a Letter Agreement dated May 20,
2004 accepted by Seller on May 21, 2004 (the "Purchase Agreement") providing for
the purchase and sale of the Gateway Plaza Shopping Center, Southlake, Texas.
Capitalized terms used but not defined herein shall have the meanings ascribed
thereto in the Purchase Agreement.

     B.   Pursuant to the terms of the Purchase Agreement, Seller was to provide
to Purchaser, INTER ALIA, tenant estoppels ten (10) days prior to Closing, a
level I environmental audit ten (10) days prior to Closing, a Survey of the
Property fifteen (15) days prior to Closing, and an appraisal of the Property
prepared by an MAI appraiser. As of the date hereof, those items have not been
received by Purchaser.

     C.   Purchaser and Seller desire to amend the Purchase Agreement in order
to afford Seller additional time to deliver those and other items that may be
required under the terms of the Purchase Agreement, and to afford Purchaser to
evaluate and review such items and the Property.

                                   AMENDMENTS

     NOW THEREFORE, in consideration of the mutual premises contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

     1.   Paragraph 1 of the Purchase Agreement is amended by:

          a.   Deleting the words "45 calendar days following the acceptance of
               this agreement (see Paragraph 10)" from the first sentence
               thereof and inserting the following in its place "on or before
               July 16, 2004",

          b.   Deleting the words "following 45 calendar days after the
               acceptance of this letter," from the third sentence thereof and
               inserting the following in its place "on or before July 16,
               2004,"; and

          c.   Deleting the words "it is understood and agreed that the
               Purchaser may automatically and immediately receive its earnest
               money deposit back if it terminates this agreement for any reason
               or no reason on or before 45 calendar days following the
               acceptance of this agreement" from the last sentence thereof and
               inserting the following in its place "it is understood

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               and agreed that the purchaser may automatically and immediately
               receive its earnest money deposit back if it terminates this
               agreement for any reason or no reason at all on or before July
               16, 2004."

     2.   Paragraph 10 of the Purchase Agreement is amended by deleting the
words "45 calendar days following acceptance of this agreement," and inserting
in its place "July 16, 2004".

     3.   Purchaser and Seller hereby agree that all references to the date of
July 6, 2004 set forth in the Letter of Escrow Instructions (a copy of which is
attached hereto as Exhibit A) are deleted and replaced with "July 16, 2004."
Purchase and Seller, by their execution hereof, agree to execute an amendment to
the Letter of Escrow Instructions with the Title Company in conformity herewith,
provided, however, regardless of whether or not such amendment is ever executed,
with respect to such date, this First Amendment shall supersede and control.

     IN WITNESS WHEREOF, the parties hereto have executed this First Amendment
as of the date first written above.

                                       SELLER:

                                       LINCOLN SOUTHLAKE, LTD.

                                       By:    Akard Ervay, Inc., general partner

                                              By:    /s/ Matt Turner
                                                     ----------------------
                                              Name:      Matt Turner
                                                     ----------------------
                                              Title:     Vice President
                                                     ----------------------

                                       PURCHASER:

                                       INLAND REAL ESTATE ACQUISITIONS,
                                       INC., an Illinois corporation

                                       By:    /s/ Joe Cosenza
                                              -----------------------------
                                       Name:    Joe Cosenza
                                              -----------------------------
                                       Title:   Vice Chairman
                                              -----------------------------

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