Looking at the money raised by Illinois candidates for Congress reveals a couple of key developments.

First, former U.S Rep. Debbie Halvorson is literally giving incumbent U.S. Rep. Jesse Jackson Jr. a run for his money in the Illinois 2nd District Democratic primary when it comes to fundraising. Second, there’s serious money in the 8th District primary race between Tammy Duckworth and Raja Krishnamoorthi.

Congressional candidates had until midnight last night to file their 2011 4th quarter fundraising totals with the Federal Elections Commission. An article in today’s Chicago Tribune provides fundraising figures.

Halvorson reported raising $103,381 from October 2011 to December 2011. Jackson Jr., meanwhile, raised $115,046 during that same time period.

While Jackson, Jr. raised slightly more money, Halvorson has slightly more overall campaign cash on hand. The challenger has $260,727, while the incumbent has $245,442.

Jackson did have $262,942, but has reserved $17,500 for the general election. Both candidates say the race is about bringing jobs to the 2^nd district, which includes Chicago’s South Suburbs.

In the 8^th District, both Duckworth, an Iraq War veteran and former official in the U.S. Veteran’s Affairs Department, and Krishnamoorthi, former Illinois Deputy Treasurer, raised money that dwarfs sums in other Illinois races.

Duckworth’s campaign stated that it raised more than $470,000 in the 2011 4th quarter alone.

Krishnamoorthi’s campaign sreportedly raised $290,232 in the4th quarter and has $791,157 cash on hand.

The money totals highlight that the 8^th District race is a high-profile, national contest. The winner will take on incumbent U.S. Rep. Joe Walsh (R-8), a prominent Tea Party figure.

The Democratic Congressional Campaign Committee targets the 8th district race as one of 18 Congressional districts nationally that could go from “Red-to-Blue” in the 2012 election.

The Illinois primary is March 20.