RF chain circuits play a major role in digital receiver architectures, allowing passband communication signals to be processed in baseband. When operating at high frequencies, these circuits tend to be costly. This increased cost imposes a major limitation on future multiple-input multiple-output (MIMO) communication technologies. A common approach to mitigate the increased cost is to utilize hybrid architectures, in which the received signal is combined in analog into a lower dimension, thus reducing the number of RF chains. In this work we present a hardware prototype implementing analog combining for RF chain reduction. The prototype consists of a specially designed configurable combining board as well as a dedicated experimental setup. Our hardware prototype allows to evaluate the effect of analog combining in MIMO systems using actual communication signals. The experimental study, which focuses on channel estimation accuracy in MIMO channels, demonstrates that using the proposed prototype, the achievable channel estimation performance is within a small gap in a statistical sense from that obtained using a costly receiver in which each antenna is connected to a dedicated RF chain. Furthermore, in the considered scenarios, this gap becomes negligible when the reduction rate, i.e., the ratio of the number of RF chains to the number of antennas, is above 62.5%.