I Have This 1918 Federal Reserve Bank Of Chicago Note. Is It Rare?

All large sized notes are rare. What you have is a FR727 which is the most common of the Chicago issued Federal Reserve Bank Note. It has value way over face. I would say its VF condition (due to the 4 sharp vertical folds and the 1 horizontal fold)

Value would be in the $200+ range.

Here is one in comparable condition but it is graded.

https://www.ebay.com/itm/4058181692...=fr+727+%241

I recommend getting a currency sleeve and putting it in the sleeve. Its a keeper note.

Rare is kind of a relative term. Most large size collectors would not consider this issue rare. Chicago is one of the more common districts for Federal Reserve Bank Notes. There are 700+ notes known of this Friedberg number. You have a midgrade VF example. This note sells for around $200 in VF. A little more if graded.