In a historic election, Chicago voters have chosen to replace incumbent Mayor Lori Lightfoot, who lost her reelection bid on Tuesday.

Lightfoot, who had served as mayor since 2019, was defeated by challenger Toni Preckwinkle, who won the election by a wide margin.

The election was seen as a referendum on Lightfoot’s handling of the city’s finances and the ongoing COVID-19 pandemic. Lightfoot had been criticized for her handling of both issues, and her opponent was able to capitalize on those criticisms.

Preckwinkle ran on a platform of fiscal responsibility and a commitment to tackling the city’s economic woes. She also promised to address the city’s racial disparities and invest in the city’s struggling neighborhoods.

Lightfoot conceded the election and congratulated Preckwinkle on her victory.

The election marks the first time in Chicago history that an incumbent mayor has been defeated in a reelection bid. It is also the first time in nearly 50 years that a woman has been elected mayor.

Preckwinkle will become the first female African-American mayor of Chicago and the first African-American woman to lead a major U.S. city. She will be sworn in as mayor on May 16.