<?xml version="1.0"?>

<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3/A</documentType>

    <periodOfReport>1999-06-24</periodOfReport>

    <dateOfOriginalSubmission>1999-06-24</dateOfOriginalSubmission>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001134663</rptOwnerCik>
            <rptOwnerName>MANDELL RALPH B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1146 LATHROP AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RIVER FOREST</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60305</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>

        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>297930</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>34500</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held by spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person's original Form 3 overstated the amount of shares indirectly owned by the reporting person by 900 shares (adjusted to reflect the 3-for-2 stock split effective January 2003) and understated the amount of shares directly owned by the reporting person by this same amount.</footnote>
        <footnote id="F2">Adjusted to reflect the 3-for-2 stock split effective January 2003.</footnote>
    </footnotes>


    <ownerSignature>
        <signatureName>/s/Jennifer Durham King, attorney-in-fact</signatureName>
        <signatureDate>2003-11-10</signatureDate>
    </ownerSignature>

</ownershipDocument>

