Oak Park, IL Business Licensing & Operations: Pawnbrokers (2026)

Village Code Chapter 8, Article 4B governs pawnbrokers. The Chief of Police is the license administrator: investigating applications, authorizing renewals, entering licensed premises to inspect pledged goods and records, and suspending or revoking licenses for cause. No more than three pawnbroker licenses may be in force in the Village at one time, and each license runs one year. Applicants must post a $10,000 bond and disclose felony or theft convictions; a person disqualified includes anyone convicted of theft, burglary or possession of stolen property, or an elected official or Village employee charged with enforcing the article.

Licensees must log every transaction in an online database such as LeadsOnline, including the goods pawned, loan amount, interest rate and the pledger's name and address, and must take two forms of ID (one photographic) from every customer. A video surveillance system must record customers and retain footage for at least 30 days, open to police inspection. Business hours run 6:00 AM to 9:00 PM only. Pawnbrokers may charge no more than 3% per month interest, must give pledgers a 30-day grace period after default before selling pledged goods, and cannot buy from minors, intoxicated persons, or anyone known to have been convicted of theft or burglary.

Firearms and concealable weapons cannot be pledged, purchased or kept on the premises. A pawnbroker who also wants to buy and sell secondhand property must separately obtain the secondhand/junk dealer license required under Chapter 8.