United States securities and exchange commission logo

                         December 27, 2022

       Anthony Cappell
       Chief Executive Officer
       Chicago Atlantic Real Estate Finance, Inc.
       420 North Wabash Avenue, Suite 500,
       Chicago, IL 60611

                                                        Re: Chicago Atlantic
Real Estate Finance, Inc.
Statement on Form S-3
                                                            Filed December 21,
                                                            File No. 333-268920

       Dear Anthony Cappell:

              This is to advise you that we have not reviewed and will not
review your registration

               Please refer to Rules 460 and 461 regarding requests for
acceleration. We remind you
       that the company and its management are responsible for the accuracy and
adequacy of their
       disclosures, notwithstanding any review, comments, action or absence of
action by the staff.

             Please contact Catherine De Lorenzo at 202-551-4079 or Jeffrey
Gabor at 202-551-
       2544 with any questions.


                         Division of Corporation Finance

                         Office of Real Estate & Construction
       cc:                                              Owen Pinkerton, Esq.