ILCS » Chapter 765 · Act 715
Illinois Compiled Statutes

765 ILCS 715/2 (2026)

The lessor shall, within 30 days after the end of each 12 month rental period, pay to the lessee any interest that has accumulated to an amount of $5 or more, by cash or credit to be applied to rent due, except when the lessee is in default under the terms of the lease

✓ current as of May 2026
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(765 ILCS 715/2) (from Ch. 80, par. 122)
    Sec. 2. The lessor shall, within 30 days after the end of each 12 month rental period, pay to the lessee any interest that has accumulated to an amount of $5 or more, by cash or credit to be applied to rent due, except when the lessee is in default under the terms of the lease. The lessor shall pay all interest that has accumulated and remains unpaid, regardless of the amount, upon termination of the tenancy.
    A lessor who willfully fails or refuses to pay the interest required by this Act shall, upon a finding by a circuit court that he has willfully failed or refused to pay, be liable for an amount equal to the amount of the security deposit, together with court costs and reasonable attorneys fees.
(Source: P.A. 99-253, eff. 1-1-16.)

    
Notes of Decisions
Cited in 14 cases (2 in the last 5 years), 2001–2022 · leading case: Lawrence v. Regent Realty Grp., Inc., 754 N.E.2d 334 (Ill. 2001).
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Lawrence v. Regent Realty Grp., Inc., 754 N.E.2d 334 (Ill. 2001). · cites it 4× “765 ILCS 715/2 (West 1998). The willfulness requirement is specifically set forth in the Act, which predates the RLTO.”
Vill. of Glenview v. Zwick, 826 N.E.2d 1171 (Ill. App. Ct. 2005). · cites it 2× “See, inter alia, 765 ILCS 710/1 (West 2002) (“Upon a finding by a circuit court that a lessor has refused to supply the itemized statement required by [the Security Deposit Return Act,] *** the lessor shall be liable for an amount equal to twice the amount of the security…”
Joiner v. SVM Mgmt., LLC, 2020 IL 124671 (Ill. 2020). “Because the statute provides for shifting of “reasonable attorney’s fees” (emphasis added) (765 ILCS 715/2 (West 2014)) and reasonableness of attorney fees is an issue decided by the court and not counsel (Richheimer, 59 Ill.”
Jackim v. CC-Lake, Inc., 842 N.E.2d 1113 (Ill. App. Ct. 2005). “Section 1 of the Security Deposit Interest Act provides in relevant part: “A lessor of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property, who receives a security deposit…”
Dickson v. West Koke Mill Vill. Partners, 769 N.E.2d 971 (Ill. App. Ct. 2002). · cites it 2× “A lessor who willfully fails or refuses to pay the interest required by this Act shall, upon a finding by a circuit court that he has willfully failed or refused to pay, be liable for an amount equal to the amount of the security deposit, together with court costs and reasonable…”
Wang v. Williams, 797 N.E.2d 179 (Ill. App. Ct. 2003). “765 ILCS 715/2 (West 2000). Royal Rentals contends that the lease is a clearly expressed waiver of the statutory right to receive interest.”
Joiner v. SVM Mgmt., LLC, 2020 IL 124671 (Ill. 2020). “Because the statute provides for shifting of “reasonable attorney’s fees” (emphasis added) (765 ILCS 715/2 (West 2014)) and reasonableness of attorney fees is an issue decided by the court and not counsel (Richheimer, 59 Ill.”
Joiner v. SVM Mgmt., LLC, 2020 IL 124671 (Ill. 2021). · cites it 3× “00 representing [plaintiffs’] maximum individual recovery under 765 ILCS 715/2 as prayed for in Count I of the complaint” and “[a]ll court costs and reasonable attorney’s fees as allowed by the court that Plaintiffs incurred in pursuing Count I of the complaint.”
Lawrence v. Regent Realty Grp., Inc. (Ill. 2001). · cites it 2× “765 ILCS 715/2 (West 1998). The willfulness requirement is specifically set forth in the Act, which predates the RLTO.”
Dickson v. West Koke Mill Vill. Partners (Ill. App. Ct. 2002). · cites it 2× “A lessor who willfully fails or refuses to pay the interest required by this Act shall, upon a finding by a circuit court that he has willfully failed or refused to pay, be liable for an amount equal to the amount of the security deposit, together with court costs and reasonable…”
Vill. of Glenview v. Zwick (Ill. App. Ct. 2005). · cites it 2× “Return Act,] *** the lessor shall be liable for an amount equal to twice the amount of the security deposit due, together with court costs and reasonable attorney[] fees"); 765 ILCS 715/2 (West 2002) (upon a court finding that a lessor wilfully refused to pay interest on a…”
King v. Gerber Realty, Inc., 2022 IL App (1st) 211189 (Ill. App. Ct. 2022). “3d 341, 346-47 (2002) (discussing 765 ILCS 715/2 (West 1996)). - 21 - No. 1-21-1189 mandate of” Illinois law, and “thereby avoid the legislative mandate that seeks to protect parties in an inferior bargaining position”).”
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