CHICAGO, Illinois, August 5, 2026 — The mayoral field continues to expand. On Sunday, Giannoulias made it official with a video announcement and rally at the IBEW Local 134 union hall in Bronzeville — wrapping up months of speculation.
He’s not alone. Already at least 12 candidates are in, including U.S. Rep. Mike Quigley and Illinois Comptroller Susana Mendoza. Chicago Mayor Brandon Johnson has yet to announce if he will run for re-election next year, although petitions have begun circulating for him. Cook County Treasurer Maria Pappas said she might also run, but the deal is not official yet.
Giannoulias, 50, comes in with cash. His campaign account has nearly $22 million, about three times what his opponents have all together — that war chest is precisely because speculation over his plans lasted a year.
In announcing his campaign, Giannoulias said: “The people of Chicago work hard every day to provide for their families and they deserve a government that works as hard on their behalf.” “Chicagoans don’t expect perfection. But they do expect a leader who listens, who rolls up their sleeves and puts in the work, a leader who loves this city as much as they do.”
Some of his priorities, he tells me, include restoring economic growth, increasing housing capacity, balancing the city budget and bringing better results for pupils. The question is whether that message resonates with voters.
This has an unusual twist: Giannoulias is also running for reelection as secretary of state this November, meaning he’ll have to run for both offices concurrently. After the rally, reporters hit him up on it — and he did not play a dodge card.
“Running for mayor… is like interviewing for a job — really, it’s an interview for a difficult job,” he said, “and like anything else, you don’t quit the one you’re in while you’re applying to that one.”
Giannoulias is no stranger to the Illinois political arena. He’s been friends with former President Barack Obama for years, the two still play pickup basketball together, and he played the sport professionally in Greece before entering public office.
He was state treasurer from 2007 to 2011 before narrowly losing a U.S. Senate race in 2010 to Republican Mark Kirk by less than 60,000 votes in a campaign that was derailed first by the historical tumult of his family’s Broadway Bank under Heath Evans during the summer financial crisis.
He’s overseen implementing Real ID and digital driver’s licenses as secretary of state, supporting a measure that would prohibit book bans at Illinois libraries.
It was no accident they launched from a union hall. Giannoulias is obviously looking to weaken any labor backing there now, in the wake of Johnson declaring himself Chicago’s most pro-labor mayor. Inquiring about the vacancy in the police superintendent position following former Supt.
Addressing media questions about Larry Snelling retiring, Giannoulias said it’s not his decision when that happens, but he supports hiring more officers and tackling soaring overtime costs.
Nominating petitions must be filed by Oct. The election will occur on Feb. 23, 2027, with an April 6 runoff in case no one clinches an outright majority. Chicago’s mayoral race could still be in flux, with Johnson yet to decide and more adding their names to the field.
Chicago’s mayoral contest on Aug. 5, 2026 is only starting to take shape, with the candidate field still fluid ahead of the petition filing deadline. But with new endorsements, policy proposals and campaign finance reports likely to continue shaping the race in coming months, public campaign announcements and election schedules in fact send a relatively weak signal.
Municipal election observers typically signal fundraising strength and organizational backing early in the race can bolster a candidate’s competitive edge, but as candidates engage in debates, policy platforms and public forums — all of which offer clearer comparisons between candidates leading up to Election Day — voter preferences often shift.
Featured Photo by Arnaud Jaegers, Unsplash
