The Illinois treasurer’s office is holding about $59.5 million in unclaimed property of residents in the metro-east area, according to Treasurer Michael Frerichs.
Hundreds of thousands of new unclaimed properties have been reported in recent months, including lost bank accounts, insurance policy proceeds and utility refunds. Those new reports bring the total controlled by the treasurer’s office to $2.1 billion.
The $59.5 million figure covers properties from Madison, St. Clair, Jersey and Monroe counties.
Starting Sunday, the names of about 79,000 individuals who have unclaimed property worth more than $100 or stock, bonds, mutual funds or safe-deposit box contents that were reported during the past six months will be listed in newspaper ads across the state.
Those listings represent a fraction of the 14 million properties reported since the program began in 1962 that are waiting to be claimed. All Illinoisans can visit illinoistreasurer.gov to searchfor property and initiate a claim.. Once the claim is filed with proof of ownership, individuals will receive their property in as little as three weeks. Last year, the average amount returned was $1,000.
Hundreds of thousands of new properties are collected from businesses by the state treasurer’s I-Cash program each year. For more information about the program, visit illinoistreasurer.gov or call 217-785-6998.