Reda | Ciprian | Magnone, LLC
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2015 CRLTO Chicago Interest Rate on Security Deposits

The Chicago Residential Landlord and Tenant Ordinance requires that the Comptroller of the City of Chicago determine the interest rate to be paid to tenants for leases governed by 5-12-080 of the Chicago Residential Landlord and Tenant Ordinance (CRLTO).  The new rate is (drum roll please):

0.01%

This is actually a decrease from last year.  It is just such a tiny amount!  Remember, the Chicago Residential Landlord and Tenant Ordinance requires that Landlords signing leases for January 1, 2015 must include a summary that includes the 2015 security deposit interest rate!  We will try to post a link once the City releases its official form.

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Reda | Ciprian | Magnone, LLC
8501 W. Higgins Suite 440
Chicago, Illinois 60631

Call: (773) 399-1122
Fax: (773) 399-1144

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Firm Overview

Reda | Ciprian | Magnone, LLC serves the public and other Illinois attorneys by providing timely, accessible information about Illinois law, specifically, estate planning, probate, entity formation, corporate, landlord-tenant, real estate & other areas of the law. Our firm has assisted clients as far away as France and India in their Illinois legal matters.

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Probate Law Landlord Tenant Law Corporate Law Real Property Law Estate Planning