The Chicago Mayoral race may be over two years away but there’s already a lot of speculation about the race in the media and amongst the city, county and state’s political power brokers.

This week Chicago Magazine published a piece, naming Alexi Giannoulias, the current Secretary of State, as the front runner in the race to take over City Hall. 

But even months earlier, local news stories were naming Giannoulias, a former basketball buddy of President Barack Obama, as the top contender for the powerful seat.

But hold a minute. Don’t put your “Make Chicago Greek Again” hat on just yet.

But the former banker— who was also elected State Treasurer in 2006— hasn’t gone public with his decision to run. He is, however, actively fundraising and has over $3 million in his campaign fund— more than anyone else that has been named as a possible mayoral candidate.

Other scenarios have Giannoulias staying in the Secretary of State’s office for a few more years and waiting for a U.S. Senate seat to open up, or even running for Governor. 

Whatever Giannoulias decides, he poised to be in a great position from the beginning. As Secretary of State his name is on every drivers license that is issued by the state, giving him great name recognition and a record of efficiency and productivity. Add to this his existing war chest— over $3 million— and he has an advantage over opponents in any race.