Reference: the security deposit rule in each state and covered city. To settle a deposit, use the free Deposit settlement tool.

Reference

Security deposit rules in Illinois

Illinois: return the deposit within 30 calendar days of the later of move-out and the end of the tenancy. 45 calendar days after the day the tenant vacated if no deductions (No itemized statement furnished: return the deposit in full within 45 days of the date the lessee vacated). Interest: conditional. Penalty if the deposit is kept in bad faith: 2x the deposit. (765 ILCS 710 (Security Deposit Return Act); 765 ILCS 715 (Security Deposit Interest Act))

The rule in plain words

Return by: 30 calendar days after the later of move-out and the end of the tenancy.
Deductions allowed: unpaid rent, damage beyond wear, other lease obligations. Normal wear and tear never. Depreciation: none.
Interest: Conditional.
Penalty: 2x the deposit if the deposit is kept in bad faith.
Deposit cap: none in the statute.
City ordinances: Chicago.
Who it covers: Before 2024-01-01 the Security Deposit Return Act covered only lessors of buildings with 5 or more units; P.A. 103-224 removed the limit.

The rule text

... may not withhold any part of that deposit as reimbursement for property damage unless the lessor has, within 30 days of the date that the lessee vacated the leased premises or within 30 days of the date the lessee's right of possession ends, whichever is later, furnished to the lessee ... an itemized statement of the damage allegedly caused to the leased premises ...

765 ILCS 710/1(a). Source: Security Deposit Return Act, 765 ILCS 710, read 2026-10-09.

Notes on this rule (2)

Interest Act still applies only to 25+ unit properties; the Return Act no longer has a unit threshold since 2024-01-01.
Chicago's RLTO overlays different rules (city overlay).

Worked example

A $2,000.00 deposit; the tenant moved in on June 1, 2023 and out on September 30, 2026. Intended deductions: $300.00 unpaid rent, $150.00 cleaning and a $1,200.00 carpet that was 5 years old.

Return by: October 30, 2026
30 calendar days after the later of move-out and the end of the tenancy.
Allowed deductions: $1,500.00
Of $1,650.00 claimed.
Refund due: $500.00
Interest $0.00.

The draft statement for this example

DRAFT ITEMIZED STATEMENT OF SECURITY DEPOSIT
Rule: 765 ILCS 710 (Security Deposit Return Act); 765 ILCS 715 (Security Deposit Interest Act) (Illinois)
Move-out date: September 30, 2026

Security deposit held                            $2,000.00
Deduction: Unpaid rent                            -$300.00
Deduction: Carpet                               -$1,200.00
Total deductions                                -$1,500.00
Refund due to tenant                               $500.00
Return by                                   October 30, 2026

Notes:
- Paid receipts or copies attached for each repair or replacement; if estimates are given, receipts within 30 days after the statement; own labor at reasonable cost; verified statement if receipts unobtainable through no fault of the lessor.
- Itemized under 765 ILCS 710 (Security Deposit Return Act); 765 ILCS 715 (Security Deposit Interest Act).

Settle a deposit in Illinois

required

Where and how much

The state sets the rules; a covered city adds its own.

StateCityAdds the city's ordinance where we cover one.Deposit heldMonthly rentChecks the deposit cap.Units in the buildingInterest depends on it in IL, NY.

Dates

The dates start the clock.

Tenant moved outTenancy startedFor interest and item ages.Lease endedIf not the move-out day.Forwarding address receivedStarts or holds the clock in CT, IA, MN, RI, SD, TX, WY.Tenant's written demand receivedStarts the clock in AZ, KS, MD, MS, OK, SC, UT.New tenant moved inCan start the clock in WI, WV.Notice of claim sentFlorida: the day you sent the notice of your claimReturn period in the lease (days)The lease may set it in CO, ID, ME.

The tenant gave the notice the statute requiresChanges the deadline in AK.Repairs exceed the deposit and need a contractorCan extend the deadline in VA, WV.

Check as of another date

Check as ofDefaults to today. Use it to see where a past or future date stands.

Deductions

What you intend to keep; leave it empty to return everything. An item's age depreciates carpet, paint, blinds and appliances.

Deduction 1

CategoryAmountItem age or install dateNormal wear and tearOrdinary aging: never deductible.

Up to 9 lines.

Documentation

Some states require receipts or dated photos before a deduction stands.

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Computes and cites the published rule; it is not legal advice. You sign the statement: check the statute, your lease and any local ordinance first. Read the disclaimer.

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