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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Jyes8kAQ0KzEMs0aPbHIHg==

<SEC-DOCUMENT>0000913849-05-000085.txt : 20050128
<SEC-HEADER>0000913849-05-000085.hdr.sgml : 20050128
<ACCEPTANCE-DATETIME>20050128164110
ACCESSION NUMBER:		0000913849-05-000085
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050126
FILED AS OF DATE:		20050128
DATE AS OF CHANGE:		20050128

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COLLINS GARY S
		CENTRAL INDEX KEY:			0001184766

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25887
		FILM NUMBER:		05558721

	MAIL ADDRESS:	
		STREET 1:		913 SOUTH BOULEVARD
		CITY:			OAK PARK
		STATE:			IL
		ZIP:			60302

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRIVATEBANCORP INC
		CENTRAL INDEX KEY:			0000889936
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				363681151
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		TEN NORTH DEARBORN SUITE 900
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602

	MAIL ADDRESS:	
		STREET 1:		TEN NORTH DEARBORN STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-01-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000889936</issuerCik>
        <issuerName>PRIVATEBANCORP INC</issuerName>
        <issuerTradingSymbol>PVTB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001184766</rptOwnerCik>
            <rptOwnerName>COLLINS GARY S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>913 SOUTH BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>OAK PARK</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60302</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Managing Director</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Variable Prepaid Forward Contract</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-01-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>75000</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On January 26, 2005, Mr. Collins and his spouse entered into a variable prepaid forward contract agreement with an unaffiliated brokerage firm for an aggregate of 75,000 shares of the Company's common stock.  Under the agreement, Mr. Collins may execute transactions for the sale of up to 75,000 shares of his stock at varying prices and has agreed to deliver the shares to the brokerage firm on or about January 28, 2008 (or an earlier date if the agreement is earlier terminated).  The number of shares that Mr. Collins will ultimately be required to deliver to the brokerage firm for purchase will be based upon the fair market value of the shares on or about January 28, 2008, but will in no event be more than 75,000 shares.  Mr. Collins may, in the alternative, settle the agreement by delivering cash rather than selling the shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lisa M. O'Neill, Attorney-in-Fact</signatureName>
        <signatureDate>2005-01-27</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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