On December 31, 2014, Dan Widawsky, City of Chicago, Comptroller provided the following information for Landlords.
"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, 2015 through December 31, 2015 shall be
0.01 percent. This rate is based upon the average of the rates of interest, as of December 31, 2014, of the following types of accounts at Chase Bank, which is the commercial bank having the most branches located in the City of Chicago: Savings Account 0.01 percent; Insured Money Market 0.01 percent; and Six-month Certificate of Deposit (based on a deposit of $1,000) 0.01 percent."
Bradford Miller Law, P.C. focuses on real estate law, landlord tenant law, building code violations and estate planning. We are committed to providing you with expert legal support and approach every client with a focus on integrity, advocacy, and understanding.
At www.bradfordmillerlaw.com you will find helpful landlord information along with information about our firm. To discuss your pending or potential real estate transaction, your ongoing legal needs as a property owner or landlord, or your estate planning concerns, call us at 312-238-9298 for a free 15-minute consultation.
Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
Offering free legal representation to homeowners seeking a short sale
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