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<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001808526</cik>
        <entityName>Mesirow Financial Real Estate Value Fund IV, L.P.</entityName>
        <issuerAddress>
            <street1>C/O MESIROW FINANCIAL REVF IV-GP, LLC</street1>
            <street2>353 CLARK STREET</street2>
            <city>CHICAGO</city>
            <stateOrCountry>IL</stateOrCountry>
            <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
            <zipCode>60654</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>312-595-6000</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2019</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alasdair</firstName>
                <lastName>Cripps</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Charles</firstName>
                <lastName>Kendrick</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Guy</firstName>
                <lastName>Chiariello</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <lastName>Pierson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Benjamin</firstName>
                <lastName>Blakney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LLP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <lastName>Price</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dominick</firstName>
                <lastName>Mondi</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dennis</firstName>
                <lastName>Black</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Mesirow Financial REVF IV Fund, LP</street1>
                <street2>353 Clark Street</street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60654</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of General Partner, Mesirow Financial REVF IV-GP, LLC, of Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C.5</item>
            <item>3C.6</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001567619-20-008927</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2020-05-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Interests are limited partnership interests in Issuer (the &quot;Main Fund&quot;); GP discretion to accept smaller capital commitments per limited partner</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>5000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>1000000000</totalOfferingAmount>
            <totalAmountSold>538250000</totalAmountSold>
            <totalRemaining>461750000</totalRemaining>
            <clarificationOfResponse>Total offering includes max aggregate capitalization of Issuer (&quot;Main Fund&quot;), &amp; affiliated parallel and feeder funds; total sold will  include only amts invested directly into Main Fund by feeder fund &amp; outside investors</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>26</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>1000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Excludes certain payments to Investment Advisor (IA) of annual asset management fee, &amp; other annual fees payable to the GP, IA, or affiliates under the operating documents.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Mesirow Financial Real Estate Value Fund IV, L.P.</issuerName>
                <signatureName>/s/ Alasdair Cripps</signatureName>
                <nameOfSigner>Alasdair Cripps</nameOfSigner>
                <signatureTitle>President of General Partner of Issuer</signatureTitle>
                <signatureDate>2021-05-04</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
