16,200 Items Up for Bid in Illinois Treasurer's Unclaimed Property Auction

Submitted by the Illinois Treasurer’s Office

Commemorative coins, jewelry and comic books are among the thousands of items being offered for the online auction hosted by the Illinois Treasurer’s Unclaimed Property Division.

The online unclaimed property auction opened Monday and will begin closing at 10 a.m. on Friday, March 20. Those interested can review 16,200 unclaimed items atillinoistreasurer.gov by clicking the Unclaimed Property Auction link.

Our unclaimed property team works hard to return valuables to their rightful owners. If the property goes unclaimed for 10 years, the items are auctioned off to make room for incoming unclaimed items,” Illinois Treasurer Michael Frerichs said.

Under Illinois law, the Illinois Treasurer’s office is the custodian of unclaimed property including lost bank accounts, insurance policy proceeds, and forgotten safe deposit boxes. The auction of safe deposit box contents is being held because rightful owners have not stepped forward to claim the property despite 10 years of public and private efforts. Notification efforts will continue and auction proceeds will be held for rightful owners until they are identified.

All items for auction have been appraised by an outside vendor. For those interested in participating in the upcoming Illinois Treasurer’s Online Unclaimed Property Auction, visit illinoistreasurer.gov and click on the Unclaimed Property Auction link. One must register to become an active bidder. For questions about registration, contact (217) 557-8567.

The Treasurer’s Office holds more than $2.1 billion in unclaimed property. Illinoisans can visit illinoistreasurer.gov to search for property using their name and initiate a claim in as little as three minutes. Once the claim form is signed and returned with proper proof of ownership, claimants typically can receive a check or item in as little as three weeks.