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.