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Eldorado is a city in Saline County, Illinois, United States. As of the 2020 census, Eldorado had a population of 3,743. The population peaked in 1980 at 5,198. Although the city's name is spelled as if it were Spanish, the name was originally "Eldereado" or "Elder-Reado" —a combination of the last names of the town's two founders, Judge Samuel Elder, his son William, grandson Francis Marion, and neighbor Joseph Read, and his brother William. According to legend, a signpainter for the railroad painted the name "Eldorado" on the train depot; as a result, the spelling and pronunciation (el-do-RAY-doh) was forever changed.