Chicago, IL Business Licensing & Operations: Pawnbrokers (2026)
Key Facts
- Annual license fee
- $5,280
- Licensing agency
- Dept. of Business Affairs & Consumer Protection
- Fine range
- $2,000–$10,000 per offense
- Dual license
- Barred with junk peddler/secondhand license
- Interest rate cap
- Set by state Pawnbroker Regulation Act
Summary
Chicago requires a $5,280/year city license to operate as a pawnbroker, with a good-moral-character investigation before issuance.
No person shall engage in the business of a pawnbroker within the city without a license. ... The fee for a pawnshop license shall be as set forth in Section 4-5-010 ... Any person violating any of the provisions of this chapter ... shall be fined not less than $2,000.00 nor more than $10,000.00 for each offense.
Official source re-checked September 7, 2026: no newer edition of the code had been published (publisher’s edition: 2026 S-74: Current through Council Journal of June 17, 2026).
Full Breakdown
No one may engage in the pawnbroking business in Chicago without a license, and a licensed junk peddler, junk facility, or secondhand dealer cannot also hold a pawnbroker license at the same time. Applicants go through an investigation by the Commissioner of Business Affairs and Consumer Protection to confirm good moral character before a license is granted. The annual license fee is $5,280. Interest charges and fees a pawnbroker assesses must comply with the Illinois Pawnbroker Regulation Act, and the rate schedule must be posted in English, framed, in a conspicuous spot in the shop.
Violations & Fines
Fines of $2,000 to $10,000 per offense; each pledge transaction violated counts as a separate offense, and licenses can be suspended or revoked for repeat violations.
Frequently Asked Questions
Can a secondhand dealer also run a pawnshop in Chicago?
How much does a Chicago pawnbroker license cost?
What happens if a pawnbroker violates the rules?
Sources & Official References
Other rules in Chicago
Compare Chicago to another location·View the Illinois business licensing & operations overview
See something wrong?
Help us keep this page accurate. If you notice an error or outdated information, let us know.
Pawnbrokers in Nearby Cities
How other cities in Cook County handle pawnbrokers.