Illinois Secretary of State Alexi Giannoulias announced his bid for Chicago mayor on August 2, entering a crowded 2027 race with a commanding financial advantage and significant political experience.
Giannoulias made the announcement at a union hall on Chicago’s South Side, according to NBC Chicago. He will face a February 23, 2027 election, with a runoff scheduled for April 6 if no candidate reaches 50 percent of the vote.
The 47-year-old Giannoulias brings a war chest of more than $22 million to the race, far exceeding other candidates. By comparison, Mayor Brandon Johnson, who has not yet formally announced whether he will seek a second term, had raised approximately $813,000 as of earlier this year, according to reporting on campaign finance records.
Giannoulias emphasized his record as secretary of state as his principal qualification for the top job at City Hall. “I’d say judge me on my record as secretary of state,” he told NBC Chicago. “I could not be more proud of the work we’ve done to modernize operations, to streamline services, to bring innovation, to rebuild trust in government.”
Economic growth has emerged as a central theme for Giannoulias’s campaign. He told NBC Chicago that Chicago ranks “dead last out of the top 25 metro areas in the country for economic growth,” and he plans to focus on attracting businesses back to the city and encouraging regional investment.
The mayoral field has grown rapidly as candidates began circulating nominating petitions in late July. Illinois Comptroller Susana Mendoza, Congressman Mike Quigley, Cook County Board of Review Commissioner George Cardenas, former Chicago Housing Authority CEO Matt Brewer, businessmen Liam Stanton and John Kelly, and Cook County Treasurer Maria Pappas have all announced their candidacies or filed petitions, according to multiple news outlets.
Giannoulias has held office in Illinois politics for two decades. He served as Illinois Treasurer beginning in 2006, then lost a 2010 U.S. Senate race. He returned to politics in 2022, winning a contested primary and general election to become secretary of state, replacing Jesse White. His current term ends on January 11, 2027, but he is also running for reelection to that office in November 2026, meaning he would hold both positions simultaneously until the mayoral election.
When asked whether the mayor’s job would be a stepping stone to higher office, Giannoulias rejected the notion. “Is the mayor job a stepping stone? No, it’s the exact opposite of a stepping stone,” he said in an interview with NBC Chicago. “If I wanted a stepping stone, I’d stay where I’m at and have this nice, cushy path. As a matter of fact, I’d say this is probably a career-ender, but I love this city.”
The 2027 mayoral race follows Brandon Johnson’s narrow victory in the 2023 runoff election. Johnson, a former social studies teacher and Cook County commissioner, defeated Paul Vallas, the former Chicago Public Schools CEO, by about 52 percent to 48 percent in April 2023. Johnson’s approval ratings have declined since taking office, with a recent poll showing only 14 percent of city residents want him to run for a second term.
Sources
- NBC Chicago — Giannoulias’s announcement and interview with Mary Ann Ahern; his record as secretary of state, his mayoral platform, and his background in Illinois politics
- Chicago Sun-Times — Giannoulias’s entry into the race, his $22 million campaign fund, and his criticism of Mayor Johnson
- Fox 32 Chicago — Giannoulias’s fundraising figures as of June 30, 2026, and the crowded mayoral field
- WBEZ — Campaign finance details and the field of declared candidates
- Block Club Chicago — Giannoulias’s announcement and entry into the race
- Brookings Institution — Brandon Johnson’s 2023 mayoral election victory over Paul Vallas and vote share
