Not long after Chicago’s first casino opened in the Medinah Temple building, the owner of the city landmark has landed a loan for the property during a tight lending market.

Friedman Properties last month took out a $12 million loan from Wintrust Bank on the 111-year-old Moorish Revival structure at 600 N. Wabash Ave. The loan matures in November 2026, according to Cook County property records.

The Chicago-based real estate investor, led by Al Friedman, secured the loan about a month after Bally’s opened the city’s first casino in the four-story building.

The loan to Friedman, a firm whose leader is known as the “mayor of River North” because of his extensive investments in the area, stands out after more than a year of interest-rate increases that have slowed the pace of property sales and financing deals throughout the country.