I figured this would be an answer id get. You're forgetting this is illinois, anything involving our government is muddled and convoluted.

I'm managing my own properties currently, I'm exempt as a property owner from being licensed, I have experience doing this and I'm good at it. I have to have a license in order to do this for properties I do not own. I would also like the benefits of having a separate entity manage my properties and there are 0 good property managers in the area.

http://www.ilga.gov/legislation/ilcs/ilcs5.asp?ActID=1364&

Here is the state law regarding it.

Here is a separate page with a better format,

http://www.ilga.gov/commission/jcar/admincode/068/06801450sections.html

Here is the licensing body for illinois real estate faq

http://www.idfpr.com/About/FAQ.asp#collapseDRE6

So from what I can tell I would definitely have to have a "sponsoring broker" to have a leasing license.

I'm not seeing anything that says I can't practice under my own name as a broker but if I want to form any kind of corporation like an llc then I have to have a managing Broker on file.

I can't be a managing Broker until I've been a broker for two years.

So it looks like I have a few options. One is to form a company to do the "managing" and do the "brokering" as a service to my company for two years, or until I hire a manager at least. then I could look like a real company.

Option two would be to just do business under my own name.

Option three Is to be a realtor for someone else for two years.

I guess it's still not clear if you're allowed to practice brokerage in this state on your own without a managing brokers license.