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The 2004 United States Senate election in Illinois was held on November 2, 2004. Incumbent Republican U.S. Senator Peter Fitzgerald decided to retire after one term. The Democratic and Republican primary elections were held in March, which included a total of 15 candidates who combined to spend a record total of over $60 million seeking the open seat.
State Senator Barack Obama won the Democratic primary and Jack Ryan won the Republican primary. Three months later, Ryan announced his withdrawal from the race four days after the Chicago Tribune persuaded a California court to release child custody records.
Six weeks later, the Illinois Republican State Central Committee chose former Diplomat Alan Keyes to replace Ryan as the Republican candidate. The election was the first for the U.S. Senate in which both major party candidates were African American. Obama's 43% margin of victory was the largest in the state history of U.S. Senate elections. The inequality in the candidates spending for the fall elections – $14,244,768 by Obama and $2,545,325 by Keyes – is also among the largest in history in both absolute and relative terms.
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Fitzgerald's predecessor, Democrat Carol Moseley Braun, declined to run. Barack Obama, a member of the Illinois Senate since 1997 and an unsuccessful 2000 Democratic primary challenger to four-term incumbent U.S. Rep. Bobby Rush for Rush's U.S House seat, launched a campaign committee at the beginning of July 2002 to run for the U.S. Senate, 21 months before the March 2004 primary, and two months later had David Axelrod lined up to do his campaign media. Obama formally announced his candidacy on January 21, 2003, four days after former U.S. Sen. Carol Moseley Braun announced she would not seek a rematch with U.S. Sen. Peter Fitzgerald.