When designing complex communication systems, such as MIMO-OFDM transceivers, prototypes have become an important tool for understanding the implementation trade-offs and the system behavior. This paper presents a real-time FPGA prototype for a 4-stream MIMO-OFDM transceiver capable of transmitting 216 Mbit/s in 20 MHz bandwidth. The paper covers all parts of the system from RF to channel decoding and considers both algorithm and implementation aspects. In particular, we discuss the initial parameter estimation, channel estimation, MIMO detection, parameter tracking, and channel decoding. FPGA implementation results are reported along with measurements that demonstrate the throughput of spatial multiplexing with four spatial streams.