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In this paper the feasibility of adaptive channel parameter estimation method for measured MIMO channels is studied. Our investigations are based on building a state-space model for the MIMO OFDM transmission, that accounts also for the spatial correlation at transmitter and receiver antenna arrays. Kalman filter is then applied to estimate and track the time-varying channels. Correlation parameters are also estimated from the received data. Our simulations are based on measured MIMO channels and show that reliable channel estimation can be performed under realistic conditions.