Interest on a Security Deposit
765 ILCS 715/1 — owed in a building or complex of 25 or more units, on a deposit held over 6 months
A landlord of residential property with 25 or more units, in one building or a complex on contiguous parcels, pays interest on any security deposit held for more than 6 months, computed from the date of the deposit.
Who handles this in Illinois: legal aid programs, lawyer referral and the state offices, listed in the Illinois directory.
The rate is the one the largest commercial bank with its main office in Illinois paid on minimum deposit passbook savings accounts on December 31 of the year before the lease began.
Sources for this section (1)
- 765 ILCS 715/1 — 765 ILCS 715/1
Legal information, not legal advice. Verified as of October 2026. Applying it to a particular situation is the work of a licensed Illinois attorney.