<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-07-23</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001139812</issuerCik>
        <issuerName>MB FINANCIAL INC     /MD</issuerName>
        <issuerTradingSymbol>MBFI</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
		<reportingOwnerId>
            <rptOwnerCik>0001244441</rptOwnerCik>
            <rptOwnerName>HUSSERI JEFFREY L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>0</isDirector>
			<isOfficer>0</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>1</isOther>
			<otherText>Exec Officer of Subsidiary</otherText>
		</reportingOwnerRelationship>
	</reportingOwner>
	<derivativeSecurity>
		<securityTitle>
			<value>Stock Option (Right to Buy)</value>
		</securityTitle>
		<conversionOrExercisePrice>
			<value>40.3400</value>
		</conversionOrExercisePrice>
		<transactionDate>
			<value>2003-07-23</value>
		</transactionDate>
		<transactionCoding>
			<transactionFormType>4</transactionFormType>
			<transactionCode>A</transactionCode>
			<equitySwapInvolved>0</equitySwapInvolved>
		</transactionCoding>
		<transactionAmounts>
			<transactionShares>
				<value>6500</value>
			</transactionShares>
			<transactionValue>
				<value>0</value>
			</transactionValue>
			<transactionAcquiredDisposedCode>
				<value>A</value>
			</transactionAcquiredDisposedCode>
		</transactionAmounts>
		<exerciseDate>
			<value>2007-07-23</value>
			<footnoteId id="F1"/>
		</exerciseDate>
		<expirationDate>
			<value>2013-07-23</value>
		</expirationDate>
		<underlyingSecurity>
			<underlyingSecurityTitle>
				<value>Common Stock</value>
			</underlyingSecurityTitle>
			<underlyingSecurityShares>
				<value>6500</value>
			</underlyingSecurityShares>
		</underlyingSecurity>
		<postTransactionAmounts>
			<sharesOwnedFollowingTransaction>
				<value>6500</value>
				<footnoteId id="F2"/>
				<footnoteId id="F3"/>
			</sharesOwnedFollowingTransaction>
		</postTransactionAmounts>
		<ownershipNature>
			<directOrIndirectOwnership>
				<value>D</value>
			</directOrIndirectOwnership>
			<natureOfOwnership>
				<value/>
			</natureOfOwnership>
		</ownershipNature>
	</derivativeSecurity>
	<footnotes>
		<footnote id="F1">Grant to reporting person of option to purchase shares of common stock under Issuer's 1997 Omnibus Incentive Plan.  This option becomes vested on 7/23/07.</footnote>
		<footnote id="F2">Reporting person beneficially owns the following additional stock options:  i) option to purchase 2,000 shares of common stock at $13.156 under Issuer's 1997 Omnibus Incentive Plan--the option is 100% vested and expires on 11/16/09; ii) option to purchase 6,000 shares of common stock at $12.000 under Issuer's 1997 Omnibus Incentive Plan--the option is 100% exercisable and expires on 7/25/10; iii) option to purchase 6,000 shares of common stock at $25.340 under Issuer's 1997 Omnibus Incentive Plan--the option is exercisable on 7/31/05 and expires on 7/31/11; and iv) option to purchase 7,100 shares of common stock at $31.810 under Issuer's 1997 Omnibus Incentive Plan--the option is exercisable on 7/18/06 and expires on 7/18/12.</footnote>
		<footnote id="F3">Reporting person beneficially owns shares as follows: i) 2,500 shares held directly; ii) 274 shares held indirectly by 401(k) plan; such number reflects person's holdings of units in Issuer's common stock fund under Issuer's common stock pursuant to Issuer's 401(k) plan.  Number of shares shown as beneficially owned under the plan represents the approximate equivalent number of shares of Issuer's common stock.</footnote>
	</footnotes>
	<ownerSignature>
		<signatureName>By: /s/ Doria L. Koros, Attorney in Fact</signatureName>
		<signatureDate>2003-07-24</signatureDate>
	</ownerSignature>
</ownershipDocument>

