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Waukegan, IL Business Licensing & Operations: Pawnbrokers (2026)

Significant Restrictions
Compiled from the official code textEditor Martyn O'NeillLast verified September 2026

Key Facts

License cap
3 pawnbroker licenses citywide
Annual license fee
$3,000.00 (§ 14-1101)
Required bond
$1,000.00 (§ 14-728)
Records access
Open to police at all reasonable times
Minors
No pledges from or belonging to minors

Summary

Waukegan caps pawnbroker licenses at three citywide and charges a $3,000 annual fee. Every pawnbroker must post a $1,000 bond, keep an ink-written loan ledger, and let police inspect records and pledged goods at any reasonable time.

(a) Required. No person shall carry on the business of a pawnbroker, loan broker or keeper of a loan office without first obtaining a license therefor as provided in article I of this chapter. (b) Fee. The annual fee for the license required by this section shall be [as provided in section 14-1101]. (c) Number of licenses. The total number of licenses issued and outstanding at any given time shall not exceed three.

View official code

Official source re-checked September 7, 2026: no newer edition of the code had been published (publisher’s edition: Code of Ordinances: Supplement 113).

Full Breakdown

00, far above the $150 to $1,200 range charged for tiered general business licenses. Section 14-726 defines a "pawnbroker" broadly to cover anyone who loans money on deposit or pledge of personal property, who buys goods on condition of selling them back at a stipulated price, or who displays a pawnbroker's sign. " Section 14-730 requires the pawnbroker to hand the customer a signed memorandum of the same information at no charge. Section 14-731 opens both the record books and every pledged article to inspection "at all reasonable times" by any member of the police force. Section 14-732 separately bars taking any pledge from, or belonging to, a minor.

Violations & Fines

Operating as a pawnbroker in Waukegan without the section 14-727 license, exceeding the three-license citywide cap, or operating without the $1,000 bond required by section 14-728 exposes an operator to license denial or revocation and prosecution as a code violation. Falsifying, erasing, or defacing the loan ledger required by section 14-729, refusing a police inspection under section 14-731, or accepting a pledge from a minor in violation of section 14-732 are separate, independently chargeable violations of the same division.

Frequently Asked Questions

How many pawnbroker licenses does Waukegan allow?
No more than three pawnbroker licenses may be issued and outstanding in the city at any given time, per City Code § 14-727(c). Once three licenses are active, a new applicant cannot be licensed until one is surrendered, revoked, or lapses.
How much does a Waukegan pawnbroker license cost?
The annual fee is $3,000.00 under the fee schedule in City Code § 14-1101(a), payable in addition to the license application process required by article I of chapter 14. Pawnbrokers must also post a separate $1,000.00 bond under § 14-728.
What records must a Waukegan pawnbroker keep?
Under City Code § 14-729, every pawnbroker must keep a book with an ink entry made at the time of each loan describing the pledged goods, loan amount, pledge date, interest rate, and the pledgor's name and residence, and no entry may be erased or defaced.
Can a pawnbroker accept an item pledged by a minor?
No. City Code § 14-732 bars a licensed pawnbroker from taking or receiving in pawn or pledge any property owned, claimed, or controlled by a minor, regardless of whether the minor presents it in person.

Sources & Official References

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