The heirs of a late Chicago man recently received quite the surprise: they were entitled to a portion of unclaimed property from their distant relative, and it wasn't just a small amount.
This week, the office of Illinois State Treasurer Michael Frerichs returned $11 million to the estate of Joseph Richard Stancak, a Chicagoan who died from natural causes at 87 years old in 2016, the office stated in a news release.
Much about Stancak remains a mystery to this day, including how he accumulated so much wealth and did so quietly.
"This is a life-changing amount of Money," Frerichs said. "I only wish we knew more about Mr. Stancak."
The late Chicagoan's parents were born in Poland, married in New Jersey and had seven children. Joseph never got married; only two of his siblings did, and none of the seven siblings had any children, the treasurer's office explained.
Each of his siblings passed away before Joseph. He has a total of 119 heirs, who mainly reside in Poland as well as Slovakia.
So, what exactly is unclaimed property and how do you know if you or a loved one is entitled to any?
Local
By definition, unclaimed property is money or accounts that have gone dormant for a specified period of time. It can include checking and savings accounts, uncashed wage and payroll checks, uncashed stock dividends and stock certificates, insurance payments, utility deposits, customer deposits and much more, according to the treasurer.
To search for unclaimed property in Illinois, you can enter a last name or business name in the search box here on the state treasurer's website. Once all properties you wish to claim are selected, hit "Continue To File Claim" and add your information, along with your relationship to each property.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly Chicago Catch-Up newsletter here.
