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Security Deposit Interest Rates for Illinois, Chicago, Evanston, Oak Park and Mt. Prospect

Time PeriodIllinois RateChicago RateEvanston Rate
Interest rate for the period from January 1, 2008 to December 31, 20080.35%1.26%1.26%
Interest rate for the period from January 1, 2007 to December 31, 20070.50%1.68%1.68%
Interest rate for the period from January 1, 2006 to December 31, 20060.55%1.71%1.71%
Interest rate for the period from January 1, 2005 to December 31, 20050.40%1.01%1.01%
Interest rate for the period from January 1, 2004 to December 31, 20040.30%0.42%0.42%
Interest rate for the period from January 1, 2003 to December 31, 20030.40%0.52%0.52%
Interest rate for the period from January 1, 2002 to December 31, 20020.45%0.83%5.00%*
Interest rate for the period from January 1, 2001 to December 31, 20011.73%3.10%5.00%
Interest rate for the period from January 1, 2000 to December 31, 20001.73%2.71%5.00%
Interest rate for the period from January 1, 1999 to December 31, 19991.88%2.63%5.00%
Interest rate for the period from January 1, 1998 to December 31, 19982.50%3.38%5.00%
Interest rate for the period from January 1, 1997 to December 31, 19972.50%3.42%5.00%
Interest rate for the period from January 1, 1994 to December 31, 19962.50%5.000%5.00%
Interest rate for the period from January 1, 1976 to December 31, 19935.00%5.000%5.00%
Interest rate for periods prior to January 1, 19765.00%5.000%4.00%

Please note, Mt. Prospect and Oak Park follow the Illinois rate.

Evanston's rate changed on October 1, 2002 to .83% for the balance of 2002.  From October 1, 2002, Evanston follows the Chicago rate.

Always check with your local municipality to be sure you are using the correct interest rate!
Are you a tenant or a landlord with a question about your security deposit? Contact us:

Reda | Ciprian | Magnone, LLC
8501 W. Higgins Suite 440
Chicago, Illinois 60631
773.399.1122
fax 773.399.1144
email us

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