Security Deposits

Your security deposit is held in a bank account and earns interest at a rate determined by the City of Chicago.  When you move out, your deposit and any interest due will be refunded to you within 45 days or sooner minus any funds withheld for damages.  Normal wear and tear is not considered damage, but holes in walls, broken cabinets, cigarette burns in carpeting for example might require a portion of your deposit to be retained for repairs.