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In addition to Logan, they include Valerie Jarrett, CEO of real estate management firm The Habitat Co. and now co-head of Obama's transition team; Jim Reynolds, CEO of investment bank Loop Capital Markets; John Rogers, CEO of mutual fund icon Ariel Investments; Quintin Primo III, CEO of commercial real estate development company Capri Capital Partners; and Frank Clark, CEO of electrical utility Commonwealth Edison.

Later, during his second year in the U.S. Senate, Obama called Clark, among others, to discuss whether it made sense for him to mount a bid for the Presidency. Clark, 62, is one of Chicago's elder statesmen and chief of ComEd, a subsidiary of energy giant Exelon (EXC) and the largest electric utility in Illinois, serving nearly 4 million customers in Chicago and Northern Illinois. He didn't mince words: "Your window of opportunity is now," Clark recalls saying. "Go do it."

"Our generation has been limited in terms of how far we can dream," Logan said on Tuesday night just minutes before Obama took the stage. The son of two teachers who worked on Chicago's South Side, Logan majored in accounting and economics at Florida A&M University, a predominantly black college, and later earned an MBA in finance from the University of Chicago. "We've too often been under the impression that we can only serve our own. We've had constraints applied to what we can achieve."