1
                            Prospectus Supplement to Prospectus dated September
                            27, 2000, File No. 333-45406 Filed Pursuant to Rule
                            424(b)(3)

                      ILLINOIS SUPERCONDUCTOR CORPORATION

                                   SUPPLEMENT
                                       TO
                      PROSPECTUS DATED SEPTEMBER 27, 2000

     This is a Supplement to Illinois Superconductor Corporation's Prospectus,
dated September 27, 2000 (the "Prospectus"), with respect to the offer and sale
of up to 3,440,526 shares of Common Stock, including preferred stock purchase
rights, of Illinois Superconductor Corporation.  This Supplement amends and
supplements certain information contained in the Prospectus.  We encourage you
to read this Supplement carefully.

                                   ---------

     NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSIONER HAS APPROVED OR DISAPPROVED OF THE SHARES OF ILLINOIS
SUPERCONDUCTOR CORPORATION COMMON STOCK TO BE ISSUED UNDER THIS SUPPLEMENT AND
THE PROSPECTUS OR DETERMINED IF THIS SUPPLEMENT OR THE PROSPECTUS IS TRUTHFUL OR
COMPLETE.  ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

                                   ---------

               THE DATE OF THIS SUPPLEMENT IS DECEMBER 18, 2000.

CURRENT REPORT ON FORM 8-K

     On December 13, 2000, the Company filed a Current Report on Form 8-K
reporting that the Company had advised Ernst & Young LLP that the Company
intended to retain a different firm of independent auditors for the audit of its
financial statements for the fiscal year ending December 31, 2000.  The Company
also reported that it had engaged Grant Thornton LLP as its new independent
principal accountant to audit the Company's consolidated financial statements.
This engagement was effective as of December 7, 2000.

     The Company hereby incorporates by reference into this Supplement and the
Prospectus the Current Report on Form 8-K filed December 13, 2000.

     A copy of the Company's Current Report on Form 8-K filed December 13, 2000
is being provided to you along with this Supplement.

     Information about documents that have been incorporated by reference into
the Prospectus is included in the section of the Prospectus captioned "Where You
Can Find More Information."