CHICAGO (CBS) — City Treasurer Kurt Summers, who had been thinking about running for mayor in 2019, will not be joining the crowded field to replace Rahm Emanuel, but he won’t be running for re-election as treasurer either.

Summers had been weighing a potential run for mayor for weeks, ever since Emanuel said he would not seek a third term, but announced Tuesday he would not join at least 15 others who are vying for the big office on the 5th floor at City Hall.

“We are at a critical time in our city and in need of better leadership and a new direction from our future mayor, elected officials, and other leaders in our community,” Summers said in a statement released Tuesday morning. “After careful consideration with my family and loved ones, I have decided not to seek re-election as City Treasurer or to run for Mayor.”

Summers said he believes “the best opportunity for me to serve in this next chapter will be outside of elected office.”

Summers’ announcement comes just hours before Chicago hip hop star Chance The Rapper plans an announcement of his own in the mayor’s race.

The rapper, whose legal name is Chancellor Bennett, reportedly plans to endorse Amara Enyia, a policy consultant who also ran for mayor in 2015 before dropping out and endorsing then-Ald. Bob Fioretti.

Others who have announced plans to run for mayor include Cook County Board President Toni Preckwinkle, former White House chief of staff and Commerce Secretary Bill Daley, Cook County Circuit Court Clerk Dorothy Brown, former Chicago Public Schools principal Troy LaRaviere, former Chicago Board of Education President Gery Chico, former Chicago Police Board president Lori Lightfoot, former Chicago Police Supt. Garry McCarthy, former CPS Chief Executive Officer Paul Vallas, millionaire businessman Willie Wilson, community activist Ja’Mal Green, attorney Jeremiah Joyce Jr., former City Council candidate John Kozlar, DePaul University student Matthew Roney, tech entrepreneur Neal Sales-Griffin, and perennial candidate William “Dock” Walls.