Illinois Security Deposit Laws

Illinois Security Deposit Limit

There is no state statutory limit on security deposits. Landlords in Illinois must pay interest on security deposits held for more than six months if they rent 25 or more units in either a single building or a complex located on contiguous properties.

Deadline for Returning Security Deposit

For properties with five or more units, the security deposit must be returned within 30 days after the tenant moves out if there are no deductions; 45 days if deductions are taken and an itemized statement and receipts are provided.