Jessica M. Karmasek Jul. 16, 2013, 2:30pm

SPRINGFIELD, Ill. (Legal Newsline) -- Ending months of speculation, Illinois Attorney General Lisa Madigan announced Monday she will seek a fourth term as the state's top lawyer and forego a run for governor.

"For the last several months, I have considered the best way to continue serving the people of Illinois. Deciding whether to seek reelection or to run for governor has not been easy," she said in a statement. "I love my job as attorney general and continue to be excited about the important work we are doing and what we can do for people and families in the years ahead.

"I considered running for governor because of the need for effective management from that office and the frustration so many of us feel about the current lack of progress on critical issues facing Illinois."

But another consideration impacted her decision, she said.

"I feel strongly that the state would not be well served by having a governor and speaker of the House from the same family, and have never planned to run for governor if that would be the case," Madigan said.

House Speaker Michael Madigan is the attorney general's father.

"With Speaker Madigan planning to continue in office, I will not run for governor," Lisa Madigan said.

"I have been honored to have so many people across Illinois voice their support for me as I considered this decision. I look forward to continuing to fight for everyone in Illinois as attorney general."

Since taking office in 2003, Madigan, a Democrat and the state's first female attorney general, has established herself as a national leader in protecting consumers.

Throughout the home foreclosure crisis that devastated the nation's economy, Madigan has fought to hold lenders accountable for their financial misconduct and to provide assistance to struggling Illinois families and communities.

Her efforts have resulted in more than $2 billion in relief for homeowners in the state.

Madigan also has consistently fought against unfair utility rates, obtaining more than $1 billion in relief for electricity consumers.

And in a time of fiscal crisis, Madigan's office has generated more than $9 billion for Illinois.

In her fourth term, the attorney general said she will continue her "successful record of advocacy."

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