Axelrod told the Chicago Tribune the next chapter of his life will be directing a new institute of politics at the university.
"I always knew there would come a time when I would want to make a transition," Axelrod said after announcing the establishment of the institute he will head beginning in 2013.
Axelrod said he will try to pattern the institute at the University of Chicago after the one at Harvard where he currently serves on the board.
"My goal now is to help encourage young people who are going to be David Axelrods and better in the future so that we'll have a new generation of people who'll be active in politics and public life," he said.
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