2022 City of Chicago Security Deposit Interest Rate Set!

Happy New Year to Chicago Landlords still holding security deposits!  If you’ve been in this game long enough, you probably could have guessed this year’s interest rate, but, for the sake of form, here it is right from the City of Chicago:That’s right.  For Chicago landlords governed by the Chicago Residential Landlord and Tenant Ordinance.  The City Department of Finance has confirmed it.  We’re on a six year roll with a rate of .01%.  Unfortunately, as of 1/3/22, the City of Chicago has not updated the page on security deposits nor the bilingual flyer that must be attached to 2022 leases.

About Richard Magnone

Co-founding member of Reda | Ciprian | Magnone, LLC, attorney at law and Illinois licensed lawyer since 1996.
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