Illinois Lease Agreement
Illinois Lease Agreement & Security Deposit Rules
Illinois caps the security deposit at No statewide statutory limit and requires return within 30–45 days after move-out.
Lease agreement requirements in Illinois
Illinois does not set a statewide cap on security deposits, though Chicago and some other municipalities have their own local limits and rules.
Under the Security Deposit Return Act, landlords must return the deposit or an itemized statement of deductions within 30 days (or 45 days in Chicago) after move-out.
Buildings with 25 or more units in some Illinois municipalities may be required to pay interest on deposits held over a year.
Reference: Illinois Security Deposit Return Act, 765 ILCS 710. This is general educational information, not legal advice — many cities have their own additional rules. Confirm current Illinois and local requirements.
Illinois key points
- No statewide statutory deposit cap — check local city ordinances.
- 30 days to return the deposit statewide; Chicago allows up to 45 days for itemized deductions.
- Interest may be required on deposits held over a year in larger buildings in some cities.
How to create your Illinois lease agreement
- 1. Open the iRunDocs lease agreement generator with Illinois selected — deposit rules fill in automatically.
- 2. Enter landlord, tenant, property, rent, and term details.
- 3. Review the PDF preview, then download your document.
- 4. Sign following Illinois's requirements, and keep a copy with your records.
Frequently asked questions
Is there a maximum security deposit in Illinois?
No statewide cap, though some cities (like Chicago) have their own local deposit rules.
How long does an Illinois landlord have to return a security deposit?
30 days statewide under the Security Deposit Return Act; Chicago allows up to 45 days for an itemized statement of deductions.
Does Illinois require interest on security deposits?
Some municipalities, including Chicago, require interest on deposits held over a year in buildings above a certain size.
Lease agreement rules in other states
iRunDocs provides document tools and educational information. It is not a law firm and does not provide legal advice.