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Illinois Residential Lease Agreement Template

Illinois rules turn largely on building size and location. Deposit return deadlines kick in at 5 or more units, interest duties at 25 or more, and properties in Chicago or suburban Cook County generally face stricter local ordinances. Statewide, there's no deposit cap or rent control, leaving many terms for the lease to set.

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Illinois rules to know

  • Deposit return deadlines (5+ units)

    If the building has 5 or more units, you must give an itemized statement of damage deductions, with receipts or estimates, within 30 days after move-out and return the balance within 45 days. Illinois sets no statewide cap on deposit amounts.

    Security Deposit Return Act, 765 ILCS 710

  • Interest on deposits (25+ units)

    Landlords of buildings with 25 or more units who hold a deposit for more than 6 months must pay interest annually, at the rate set by statute, on the deposit amount.

    Security Deposit Interest Act, 765 ILCS 715

  • No local rent control

    State law generally prohibits cities and counties from enacting rent control on private residential property. There is no statewide statute setting a notice period for landlord entry or a residential late-fee cap, so set reasonable terms in the lease.

    Rent Control Preemption Act, 50 ILCS 825

  • Chicago and Cook County add rules

    Units in Chicago and suburban Cook County are generally covered by stricter local ordinances, including deposit receipts, interest, entry-notice, and late-fee limits. Check whether your property falls under these before finalizing the lease.

    Chicago Residential Landlord and Tenant Ordinance; Cook County Residential Tenant Landlord Ordinance

Last updated 2026-10-05

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Our Illinois Residential Lease Agreement template as a Word document — a general starting point you fill in yourself. Sign in free to download it.

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What a residential lease agreement covers

  • Parties, premises and term
  • Rent, due date and late fees
  • Security deposit amount and return
  • Maintenance and repair responsibilities
  • Pets, guests and use restrictions
  • Entry and notice rules
  • Required state and federal disclosures

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Frequently asked questions

Which Illinois deposit return deadlines apply to my building?
If your building has 5 or more units, you must give an itemized statement of damage deductions, with receipts or estimates, within 30 days after move-out, and return the balance within 45 days. Illinois sets no statewide cap on the deposit amount itself, so the deadlines are the key state-level rule.
When do Illinois landlords owe interest on security deposits?
Landlords of buildings with 25 or more units who hold a deposit for more than 6 months must pay interest annually on the deposit amount, at the rate set by statute. Smaller buildings are not covered by that state requirement, though local ordinances in Chicago and Cook County add their own interest rules.
Does a Chicago or Cook County rental need a different lease?
Often, yes. Units in Chicago and suburban Cook County are generally covered by stricter local ordinances, including rules on deposit receipts, interest, entry notice, and late-fee limits. Check whether your property falls under these ordinances before finalizing the lease, since the statewide defaults may not be enough.
How much can I charge for a security deposit?
Many states cap deposits — often at one or two months' rent — and set a deadline for returning them with an itemized list of deductions. The cap and deadline vary by state.
What disclosures does a lease need?
Federal law requires a lead-based paint disclosure for most housing built before 1978. States add their own, such as mold, flood zone, bed bugs or the deposit's bank location.
Can I just use a national lease template?
Risky. Lease law is mostly state and local, and a clause that's fine in one state can be void — or carry penalties — in another.

Residential Lease Agreement in other states

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