U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

             INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

                                     FORM 3

       Filed pursuant to Section 16(a) of the  Securities  Exchange Act of 1934,
       Section  17(a)  of the  Public  Utility  Holding  Company  Act of 1935 or
       Section 30(f) of the Investment Company Act of 1940

1.     Name and Address of Reporting Person

       Westgate International, L.P.
       c/o HSBC Financial Services (Cayman) Limited
       P.O. Box 1109, Mary Street
       Grand Cayman, Cayman Islands, British West Indies

2.     Date of Event Requiring Statement (Month/Day/Year)

       11/8/99

3.     IRS or Social Security Number of Reporting Person (Voluntary)

4.     Issuer Name and Ticker or Trading Symbol

       Illinois Superconductor Corporation (ISCO)

5.     Relationship of Reporting Person to Issuer (Check all applicable)

       [x] Director [ ] Officer  (give title below) [ ] Chairman [x] 10% Owner
       [ ] Other (specify below)

6.     If Amendment, Date of Original (Month/Day/Year)

7.     Individual or Joint/Group Filing (Check applicable line)

       [x] Form  filed by one  Reporting  Person [ ] Form filed by more than one
       Reporting Person


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Table I          Non-Derivative Securities Beneficially Owned


1.     Title of Security (Instr. 4)

             Common Stock, par value $.001 ("Common Stock")

2.     Amount of Securities Beneficially Owned (Instr. 4)

             71,957

3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)

             D

4.     Nature of Indirect Beneficial Ownership (Instr. 4)

             Not applicable.

Reminder:  Report on a separate line for each class of securities beneficially
owned directly or indirectly.


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Table II  -  Derivative Securities Beneficially Owned (e.g. puts, calls,
warrants, options, convertible securities)

1.     Title of Derivative Security (Instr. 4)

             (a) 6%  Warrants  (b)  Amended  2%  Warrants  (c) 2%  Warrants
             (d) Warrants (e) 6% Senior  Convertible Notes (f) 2% Senior
           Convertible
             Notes
             (g) Amended 2% Senior Convertible Notes
             (h) 10% Convertible Notes
             (i) 10% Warrants
             (j) Option to Purchase

2.     Date Exercisable and Expiration Date (Month/Day/Year)

             Date Exercisable:

             (a) - (j) Immediately Exercisable or Convertible (as applicable)

             Expiration Date:

             (a)  03/31/02  (b)  03/31/02 (c) 05/15/01 (d) 10/29/01 (e) 05/15/02
             (f) 05/15/02 (g) 05/15/02 (h) 01/02/01 (i) 11/05/04 (j) 08/05/00

3.     Title and Amount of Securities Underlying Derivative Security (Instr. 4)

             Title:

(a)        - (i) Common Stock
             (j) 10% Convertible Notes and 10% Warrants

             Amount or Number of Shares:

             (a)   333,333
             (b)   555,555
             (c)   444,445
             (d)    17,391
             (e) 3,431,432
             (f) 4,503,345
             (g) 5,268,788
             (h) 1,111,112
             (i)   111,111
             (j)$1,388,890 face amount of 10% Convertible Notes and
                 555,556 10% Warrants

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4.     Conversion or Exercise Price of Derivative Security

             (a)  $.25 (b) $.25 (c) $.25 (d) $.25 (e) $.25 (f) $.25 (g) $.25 (h)
             $.25 (i) $.25 (j) $1,388,890

5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)

             (a) - (j) D

6.     Nature of Indirect Beneficial Ownership (Instr. 5)

             Not applicable.

Explanation of Responses:

       The  $1,388,890  face amount of 10%  Convertible  Notes ($.25  conversion
price) would be immediately  convertible  into 5,555,560 shares of Common Stock,
and  the  555,556  10%  Warrants  would  have a  strike  price  of  $.25  and be
immediately exercisable for 555,556 shares of Common Stock.

** Intentional misstatement or omissions of facts constitute Federal Criminal
   Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Date: November 18, 1999


             WESTGATE INTERNATIONAL, L.P.

             By: Martley International, Inc., as Attorney-in-Fact


                 By: /s/ Paul E. Singer______________________
                           Paul E. Singer
                           President

             **Signature of Reporting Person


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