Lake County Treasurer issues a public service announcement encouraging government bodies, businesses, and residents to check whether they have unclaimed funds with the State of Illinois held by either the Illinois Comptroller’s or Illinois Treasurer’s Offices.
Waukegan, Ill. – At a recent senior fair in Fox Lake, Lake County Treasurer Holly Kim discovered there is a significant amount of money across the state that is unclaimed by governments, businesses and residents. In fact, when she searched just Lake County Government in the State Treasurer’s I-CASH database, nearly $400,000 in unclaimed funds appeared. Over the next year, Treasurer Kim took steps to claim the money from Illinois Treasurer Michael Frerichs’ office in order to deposit it back to Lake County Government, where it belongs.
Treasurer Kim had a similar discovery with the Illinois State Comptroller’s office and was surprised to find over $800,000 in unclaimed funds for Lake County Government alone. Some of the checks dated back to 2013.
“I was shocked to find such a large amount of money that had been sitting, some for a very long time.” Treasurer Kim said. “While this may be a once in a lifetime find, it made me realize I should encourage all government bodies, businesses, and residents to search their name in both databases. In fact, there’s about $300 million in unclaimed funds that belong to Lake County residents and businesses. I encourage everyone to take a few seconds to find their money. I am grateful for the partnership with both Treasurer Mike Frerichs and Comptroller Susana Mendoza to make this happen.”
The Comptroller’s office currently holds nearly 150,000 uncashed checks worth over $50 million. In Fiscal Year 2024, the Comptroller’s office reissued 4,420 checks to Illinois governments, businesses and residents worth a total of $23 million.
“One of the best parts of being Comptroller is reconnecting taxpayers and business owners with money the state owes them,” Mendoza said. “Please check out my website and see if we have any checks with your name on them.”
Frerichs has returned a record-breaking $2 billion in missing money to people statewide. In Lake County alone, nearly $301 million was returned in unclaimed property that belongs to local residents and businesses. Just this summer, a Lake County veteran received a $500,000 life insurance policy he did not realize he was owed.
“Putting money back in people’s pockets helps families and our state’s economy,” Frerichs said. “We are happy to return the money to its rightful owners, who can decide how best to use it.”
Gurnee Village Trustee Quin O’Brien heard of Treasurer Kim’s findings and made it a priority to identify unclaimed funds in his community. O’Brien has identified more than 200 unclaimed amounts for local Gurnee residents totaling more than $20,000.
“I’m on a mission to make sure everyone is checking to see if they are owed money from the state,” O’Brien said. “This is real money. People need to check immediately and tell their families, friends and neighbors to do the same.”
To see if you are owed unclaimed funds, please check the Comptroller’s website here and the Treasurer’s I-CASH website here. You could be sitting on a treasure trove!