IllinoisSB3762104th General Assembly (2025–2026)Senate

TENANT OPPORTUNITY TO PURCHASE

Sponsored By: Mike Simmons (Democratic)

In Committee

Summary

Creates the Tenant Opportunity to Purchase Act. Establishes a statutory right of first refusal for tenants and tenant associations if an owner seeks to sell a residential rental property in Illinois. Applies to all rental property with 11 exceptions. Allows tenants or a tenant association to purchase the property on the same terms as a third-party offer. Requires owners to provide advance notice of intent to sell no less than 60 days before listing for buildings with 5 or more units and no less than 30 days for buildings with 4 or fewer units. Requires that the notice must include property details, asking price, and a summary of tenant rights. Provides that after receiving a notice of sale, tenants of 5 or more units have 90 days to form a tenant association, for 3-4 units have 30 days; and for 1-2 units, at least one tenant has 15 days to declare intent to exercise the right of first refusal. Provides that tenants must match the third-party offer and provide the owner with a letter of intent of financing or preapproval within 120 calendar days from the date of the notice for 5 or more dwelling units and 60 days for 4 or fewer units. Prohibits the owner from requiring a tenant to pay a deposit of more than 5% of the contract sale price. Provides a civil cause of action and remedies for a violation of the Act. Authorizes the Illinois Housing Development Authority to adopt rules. Makes other changes.

assignmentsexecutive

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Mike Simmons

    Democratic • Senate

Cosponsors

  • Mike Porfirio

    Democratic • Senate

  • Rachel Ventura

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    6/1/2026Senate
  2. Rule 2-10 Committee/3rd Reading Deadline Established As May 31, 2026

    5/22/2026Senate
  3. Rule 2-10 Committee/3rd Reading Deadline Established As May 22, 2026

    5/15/2026Senate
  4. Added as Co-Sponsor Sen. Mike Porfirio

    4/24/2026Senate
  5. Rule 2-10 Committee/3rd Reading Deadline Established As May 15, 2026

    4/24/2026Senate
  6. Added as Co-Sponsor Sen. Rachel Ventura

    4/24/2026Senate
  7. Rule 2-10 Committee Deadline Established As April 24, 2026

    3/27/2026Senate
  8. Rule 2-10 Committee Deadline Established As March 27, 2026

    3/13/2026Senate
  9. Assigned to Executive

    2/24/2026Senate
  10. Referred to Assignments

    2/5/2026Senate
  11. First Reading

    2/5/2026Senate
  12. Filed with Secretary by Sen. Mike Simmons

    2/5/2026Senate

Bill Text

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