IL · LEASE-AGMT · Updated July 2026 · Free

Illinois Lease Agreement PDF

Q: What are the security deposit rules in Illinois?

Illinois has no cap on the amount of a security deposit. However, landlords in buildings with 25+ units must hold deposits in an interest-bearing account and pay annual interest. In Chicago, even smaller buildings must pay interest. Deposits must be returned within 30 days of move-out.

Not Attorney-ReviewedAuthor: Arjun AnnamalaiMethodology: Statutory Verification

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🏛️Official Illinois Statutory Law Compliance:765 ILCS 710/1

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Illinois at a glance: Security Deposit Limit: No statutory limit (but must be held in interest-bearing account) · Deposit Return Deadline: 30 days (Chicago: 30 days if no deductions; 30 days with itemized list) · Notice to Terminate Month-to-Month: 30 days

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Jump To:1. Overview 2. Quick Facts 3. Legal Rules 4. FAQs

Overview

Lease Agreements in Illinois

Illinois landlord-tenant law is primarily governed by state statutes and local ordinances. Chicago has its own Residential Landlord and Tenant Ordinance (RLTO), which is one of the most comprehensive local tenancy laws in the country and applies to most rental properties within Chicago city limits.

Outside of Chicago, Illinois follows the general state landlord-tenant statutes (765 ILCS). Illinois does not have statewide rent control.

Security deposits must be kept in a federally insured interest-bearing account, and the landlord must provide the tenant with the account information and pay interest annually.

Key Facts

Illinois Lease Agreement — Quick Reference

Requirement	Illinois Rule
Security Deposit Limit	No statutory limit (but must be held in interest-bearing account)
Deposit Return Deadline	30 days (Chicago: 30 days if no deductions; 30 days with itemized list)
Notice to Terminate Month-to-Month	30 days
Rent Control	No statewide rent control; Chicago has none currently
Eviction Notice (Non-Payment)	5-Day Notice to Pay or Quit
Landlord Entry Notice	2 days (Chicago RLTO)
Governing Law	765 ILCS 710 (state); Chicago RLTO (Chicago only)

Legal Requirements

Illinois Legal Requirements

Security deposits must be held in a federally insured interest-bearing account (765 ILCS 710/1).
Landlords must disclose the financial institution holding the deposit and pay annual interest.
Lead paint disclosure required for pre-1978 properties.
Chicago landlords must provide tenants a copy of the Chicago RLTO summary.
Chicago landlords must disclose if the building is in foreclosure.
Landlords must maintain the property in compliance with local building and health codes.

Governing Laws

Illinois Governing Laws

765 ILCS 710/1

Security Deposit Interest Act

Requires landlords in buildings with 25 or more units to hold security deposits in federally insured interest-bearing accounts and pay annual interest to tenants. Failure allows tenants to deduct twice the deposit from rent.

Chicago RLTO § 5-12-110

Chicago Tenant Remedies

Provides Chicago tenants with specific remedies including rent withholding, repair-and-deduct, and lease termination when landlords fail to maintain habitability or comply with the RLTO.

Read the full text of these laws at Cornell Law School's Illinois legal resources or your state legislature's official website.

Questions & Answers

Illinois Lease Agreement — Frequently Asked Questions

Does the Chicago RLTO apply to my rental?

The Chicago Residential Landlord and Tenant Ordinance applies to most rental units within Chicago city limits, including condos, houses, and apartments. Exceptions include owner-occupied buildings with 6 or fewer units, hotels, and certain other categories. Units outside Chicago are governed by state law.

How much notice is required for eviction in Illinois?

For non-payment of rent, Illinois requires a 5-Day Notice to Pay or Quit before filing for eviction. For lease violations, a 10-Day Notice to Cure or Quit is typically required. Month-to-month tenancy termination requires 30 days' notice.

Does Illinois have rent control?

No. Illinois does not have statewide rent control, and a 1997 state law prohibited cities (other than Chicago) from enacting rent control. Chicago previously had some rent control but does not currently have a rent stabilization program.

What are the security deposit rules in Illinois?

Illinois has no cap on the amount of a security deposit. However, landlords in buildings with 25+ units must hold deposits in an interest-bearing account and pay annual interest. In Chicago, even smaller buildings must pay interest. Deposits must be returned within 30 days of move-out.

What must a Chicago landlord disclose to tenants?

Chicago landlords must provide: a copy of the RLTO summary (available from the city), building code violations affecting the unit, any pending foreclosure proceedings, the name and address of the owner and property manager, and required federal disclosures including lead paint.