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Illinois Lease Agreement
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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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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.