The City of Chicago has released the new interest rate for 2016. That rate, for security deposits under rental agreements governed by the Chicago Residential Landlord and Tenant Ordinance, is unchanged from 2015 and will be set 0.01%.
Back in March, I discussed the proposal by Chicago-based state legislator Will Guzzardi (39th District – D) to repeal the law prohibiting rent control in Illinois. That bill is currently in the rules committee and only recently, on August 29, 2017, added legislator Theresa Mah (2nd District – D) as another co-sponsor. Both Chicago Magazine … Read more