Security Deposit Rate
Security Deposit Interest Rates for 2012
According to the Chicago Department of Finance, deposits of tenants in the city will earn 0.057% for new leases. This same rate applies in the city of Evanston, whose rate is linked to Chicago’s.
In Chicago, owner-occupied buildings of six or fewer units are not required to pay interest on security deposits pursuant to the Chicago Residential Landlord Tenant Ordinance.
- Tenants in buildings covered by Illinois law will receive 0.005%. (This is a dramatic decrease from 2011)
Throughout the State of Illinois, residential real property containing 25 units or less is exempt from the Illinois Security Deposit Interest Return Act.
The information provided here is for informational purposes only and should not be relied upon before taking any action. Please confirm all rates with the appropriate municipality.