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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel Emanuel takes Chicago without specter of runoff, budget issues loom The new mayor will have to introduce fiscal reforms and close a deficit of $500 million caused by deep structural inefficiencies. Source: AHN Reporter: Kris Alingod Location: Chicago, IL, United States Published: February 23, 2011 7:35 a.m. EST Topics: Politics, Government, Public Officials, Local Elections, Election Former White House chief of staff Rahm Emanuel celebrated victory in Chicago Tuesday night after besting rivals in the mayoral race without need for a runoff. According to unofficial results from the board of elections, Emanuel received 55 percent of the vote while former City Colleges Board chair Gery Chico, who was aiming for second place and a runoff, got 24 percent. City clerk Miguel del Valle, a former state senator, and former U.S. Sen. Carol Moseley Braun, the consensus candidate of the black community, each received 9 percent. The remaining two candidates, community activists Patricia Van Pelt Watkins and William "Dock" Walls III, each accounted for less than 2 percent. Turnout was 42 percent of the city's 1.4 million voters. The tally does not include ballots cast during early and absentee voting. Emanuel was expected to win the election, having consistently led the race in polls and in fundraising despite legal challenges to his residency and his association with the corruption trial of former Gov. Rod Blagojevich. A former chair of the Democratic Congressional Campaign Committee, Emanuel had long said he wanted to be mayor one day. But he was nearly struck out of the race last month when election officials were poised to print ballots without his name. The Illinois Supreme Court ordered the Democrat's reinstatement, dismissing charges that he failed to meet the one-year residency requirement because he rented out his home while he was working at the White House. A powerful fundraiser known for his brashness, Emanuel told supporters during his victory speech Tuesday, "You sure know how to make a guy feel at home." The 51-year-old takes over from retiring Mayor Richard Daley on May 16. It will be the first administration not led by a Daley in more than two decades. According to the Civic Federation, the new mayor will have to introduce fiscal reforms and close a deficit of $500 million caused by deep structural inefficiencies. Chicago, the nation's third largest city, has addressed deficits with temporary spending cuts and non-recurring revenues, including income from leases of the Skyway and parking meters, the group said. 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