Illinois Security Deposit Laws
Illinois requires landlords to pay interest on security deposits held for more than 6 months.
Last reviewed:
Key Rules
- Limit
- No statewide cap (Chicago: no cap, but RLTO deposit rules apply)
- Return Deadline
- 30 days after tenancy termination (statewide); 30 days under Chicago RLTO
- Interest Required
- Yes — statewide interest required on deposits held over 6 months; Chicago RLTO requires 5% annually
- Itemization Required
- Yes — written itemized statement required
- Penalty For Wrongful Withholding
- Landlord may be liable for twice the improperly withheld amount plus attorney fees (Chicago RLTO)
Applicable Statutes
Security deposit return: landlord who holds a security deposit from a residential tenant shall pay interest on the deposit at a rate established annually by the state if the deposit is held for more than 6 months.
765 ILCS 720/1
Security deposit return in Chicago: Chicago RLTO requires landlords holding deposits of more than $100 to pay 5% annual interest and return deposits within 30 days with itemized deductions.
Legal Aid Resources
Illinois Legal Aid Online
Statewide Illinois
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Not Legal Advice. This site provides general educational information only — not legal counsel. Laws vary by location. Consult a qualified attorney for advice on your specific situation.