Alderman Gene Schulter speaks at his October campaign launch. Photo by Samantha Abernethy.

Gene Schulter is retiring as alderman of the 47th Ward and has applied to serve on the Cook County Board of Tax Review.

Schulter has served as alderman since 1975.

Rumors of his retirement have swirled since November, when a political ally of Schulter filed to run for alderman.

Tom O’Donnell, a former president of the Democratic Party of the 47th Ward, had circulated petitions for Schulter before filing his own papers.

Schulter has supported O’Donnell for other positions in the past, including a 2007 vacancy created when 13th District state representative Rep. Larry McKeon died in office.

In December the Chicago Sun-Times reported that Schulter was vying to replace out-going Joe Berrios on the Board of Review. The Sun-Times also said Schulter could retire before Jan. 1, 2011, to beat a deadline that would lower his pension benefits.

When contacted by Center Square Journal in December, O’Donnell would not say whether he would stay on the ballot if Schulter was not chosen for Board of Review.

This is the release Schulter’s office sent out this afternoon:

Statement From Gene Schulter

Tags: 47th Ward, Ald. Eugene Schulter, Ameya Pawar, Board Of Review, board of tax review, february 2011 elections, Matt Reichel, Tom Jacks, Tom O'Donnell