Illinois — Chicago
For Illinois, jurisdiction is Illinois — Chicago; interest required is Yes; rate or how it's set is 0.01%; condition that triggers the duty is Interest is owed on a security deposit or prepaid rent held more than six months; citation is Municipal Code of Chicago §§ 5-12-081, 5-12-082, recorded from its source on 2026-09-02.
- Jurisdiction
- Illinois — Chicago our reading
- Interest required
- Yes our reading
- Rate or how it's set
- 0.01% verified
- Condition that triggers the duty
- Interest is owed on a security deposit or prepaid rent held more than six months our reading
- Citation
- Municipal Code of Chicago §§ 5-12-081, 5-12-082 our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
Chapter 5-12 of the Municipal Code of Chicago hereby gives notice pursuant to Sections 5-12-081 and 5-12-082 of the Municipal Code of Chicago that the rate of interest on security deposits under rental agreements governed for the period from January 1, 2026 through December 31, 2026 shall be: 0.01%
— chicago.gov, retrieved 2026-09-02
Where each value comes from
The value above is stated away from the sentence quoted with the answer, so the passage that states it is shown here too.
Condition that triggers the duty
A landlord must pay interest each year on security deposits and prepaid rent held more than six months.
— all from chicago.gov, retrieved 2026-09-02
Source
- chicago.govhttps://www.chicago.gov/city/en/depts/doh/provdrs/landlords/svcs/security-deposit-interest-rates.html