Security Deposit Rules
Security deposit limits, return deadlines, and landlord entry notice rules are set by state and sometimes local law, and they change. Confirm the current rule in the statute itself or with a local tenant resource before relying on it. Our Illinois security deposit interest page covers whether interest is owed.
Notice Requirements
Landlord entry, month-to-month termination, and rent increase notice periods are set by state and sometimes local law, and they change. Check the lease for its notice terms, and confirm the current legal minimums in the statute or with a local tenant resource before relying on them.
Rent Control
Rent control rules depend on state and local law, and they change. Check the current rules with your state or local housing agency, or a local tenant resource, before relying on them.
Habitability & Repair Requirements
Illinois landlords are required to maintain rental units in habitable condition.
Market Conditions & Lease-Risk Notes for Illinois
Chicago's Loop commercial market has faced significant office vacancy post-pandemic, with some Class B and C buildings converting to residential. The River North and West Loop submarkets remain competitive for Class A office. Chicago residential rents are moderate compared to coastal cities — 1BR averages $1,800–2,400 in desirable neighborhoods. Commercial retail on the Magnificent Mile faces ongoing headwinds.
Strongly tenant-protective within Chicago. The RLTO provides detailed rights around deposits, entry, habitability, and retaliation. Outside Chicago, tenant protections thin significantly — know which jurisdiction you're in.
Chicago commercial leases that include personal guaranty provisions modeled on New York standards — seen increasingly in premium Loop buildings. Auto-renewal clauses in Illinois suburban leases that lack the RLTO protections Chicago tenants are used to. CAM charges in suburban Illinois retail that are uncapped and audit-restricted.
Frequently Asked Questions
- What is the security deposit limit in Illinois?
- As of June 2026, we did not find a statewide security deposit cap in Illinois law. Chicago has its own Residential Landlord and Tenant Ordinance with rules on how deposits are held, interest, and return; check the city's deposit page and the current ordinance. The 1.5-month cap people often associate with Chicago comes from the suburban Cook County ordinance (§42-811), which excludes the City of Chicago. Laws change, so check the current rules.
- Does Illinois require interest on security deposits?
- As of November 2026, the Illinois Security Deposit Interest Act covers residential property with 25 or more units, on deposits held more than 6 months (Illinois deposit interest, which links the official source). Chicago has its own ordinance with its own coverage and a rate the City Comptroller sets each year (city deposit page). Laws change, so check the current rules.
- Does Illinois have rent control?
- Rent control rules depend on state and local law, and they change. Check the current rules with your state or local housing agency, or a local tenant resource, before relying on them.
- What protections does the Chicago RLTO provide?
- The Chicago Residential Landlord-Tenant Ordinance is widely viewed as tenant-protective, addressing topics like deposit interest, retaliation, repairs, lease termination for landlord breaches, and remedies for improper deposit withholding, so check the current ordinance.
- How long does an Illinois landlord have to return a security deposit?
- Security deposit limits, return deadlines, and landlord entry notice rules are set by state and sometimes local law, and they change. Confirm the current rule in the statute itself or with a local tenant resource before relying on it.
Cities in Illinois
Find city-specific lease guides for major markets in Illinois: