An Illinois real estate trade group has given more than $500,000 to the campaigns of multiple Chicago aldermanic candidates, bolstering their campaigns for this month’s upcoming elections.
Illinois Realtors donated to at least 11 campaigns via an independent expenditure affiliate, Crain’s reported. According to disclosures filed with the Illinois State Board of Elections, the group spent money in at least 11 wards across the city, including the 43rd Ward in Lincoln Park, the south lakefront 4th Ward, the 30th Ward on the West Side, the 46th and the 48th wards where the aldermanic seats are vacant, and the 11th, 12th, 23rd and 50th wards where incumbents are facing challengers.
Illinois Realtors CEO Jeff Baker said the group has contributed to elections in the past, though ramped it up significantly more for this election. The group’s spending increase was driven by political unrest in the city and the large number of seats being left by aldermen exiting their positions.
“We want to make sure every official knows who we are and that we need and want to be heard,” Baker told the outlet. He also said real estate is “the economic driver of the city,” and the future of Chicago as a whole depends on tax and economic development policies aldermen will set.
Ahead of the mayoral runoff, The Real Deal spoke with brokers and building owners who said they want to see relief and consistency when it comes to taxes, collaboration between the administration and the business community, and a city that feels safer.
In addition to the money from Illinois Realtors, the Get Stuff Done PAC, which was formed by allies of former Mayor Rahm Emanuel, has raised about $1.5 million and spent that money in some of the same wards.
In addition, labor and progressive groups like the Chicago Teachers Union and United Working Families have also spent heavily ahead of this election, while real estate titans such as Sam Zell and the founder of brokerage Marcus & Millichap George Marcus have thrown their financial support behind mayoral candidates.
Zell gave $100,000 to Paul Vallas’ mayoral campaign, while incumbent Mayor Lori Lightfoot received $25,000 from Marcus.
— Victoria Pruitt
Read more
