Well, here’s an early New Year’s present! Erin Keane, acting Comptroller of the City of Chicago has released the new rate of interest on security deposits governed by the Chicago Residential Landlord Tenant Ordinance for the period from January 1, 2014 to December 31, 2014. This rate changes annually and dictates the interest to be paid to tenants under Section 5-12-080 of the CRLTO.
The rate for 2014 is: