Former Speaker Dennis Hastert (R-IL) officially announced today his retirement from the House in 2008, and prospective candidates are already lining up to make the race.

Republicans expected to get in: State Senator Chris Lauzen, Geneva Mayor Kevin Burns, and dairy businessman Jim Oberweis, who ran unsuccessfully for the Republican nominations for Senate in 2002 and 2004, and for governor in 2006. If Oberweis runs it could be entertaining indeed — his Senate campaigns were characterized by a Tancredoesque focus on illegal immigrants.

And on the Dem side? Dems appear to be lining up behind retired Fermilab scientist Bill Foster, who would be able to use his personal wealth to fund a healthy chunk of his campaign. The Democrats' original preferred candidate, state Representative Linda Chapa LaVia, has already said she won't run.

Bottom line: The GOP is favored to keep this suburban Chicago district, which voted 55%-44% for George W. Bush in 2004. However, Illinois Democrats might benefit from a coattail effect if Barack Obama were nominated for president, making the seat a potential pickup.