Illinois Security Deposit Laws
Illinois requires landlords to pay interest on security deposits held for more than 6 months.
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)
Some citations below have not been confirmed against their official source. Confirm current requirements with local legal aid or an attorney.
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.
Not confirmed against its source · checked
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.
Not confirmed against its source · checked
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.