Paul Vallas Rakes in Big Bucks From Real Estate for Runoff

The latest round of campaign contributions confirm that the real estate community is choosing Paul Vallas to be Chicago’s next mayor.

Vallas, a former Chicago Public Schools CEO who has drawn much of his support from business and finance professionals, will face Cook County Commissioner Brandon Johnson, a self-styled progressive, in the April 4 runoff.

Since March 1, the day after the February 28 election narrowed the field from nine candidates to two, Vallas has received more than $80,000 from brokers, developers and other real estate professionals, according to an analysis of campaign contribution data by The Real Deal. Records indicate that Johnson didn’t receive any contributions from real estate professionals during the same period.

Pete Dellaportas, principal at First National Development, dropped the largest chunk of change at $25,000. The next largest contribution was an in-kind contribution worth $10,200 from Bissell Street principal Scott Gidwitz, whose father is Republican Party fundraiser Ron Gidwitz.

Vallas also got $10,000 apiece from Hubbard Street Group’s John McLinden and Structured Development’s J. Michael Drew. Regina Stilp, Farpoint Development founding principal and another big-name Vallas backer, kicked in $1,000.

Though Johnson has strong union support, including from the Chicago Teachers Union, the influential Local 150 of the International Union of Operating Engineers endorsed Vallas and gave his campaign $1 million. The union had initially supported former candidate U.S. Rep. Jesus “Chuy” Garcia who failed to make the runoff.

Before making the runoff, Vallas received $100,000 from billionaire real estate mogul Sam Zell. Other local real estate professionals have expressed confidence in Vallas and said they see him as sympathetic to the needs of the building industry, while Johnson has faced criticism for proposing new taxes on businesses that bring employees in from the suburbs, as well as his support for raising property transfer taxes and rent control.