WASHINGTON--President Obama called Jim Tyree "a quintessential Chicagoan," paying tribute to the chairman and CEO of Mesirow Financial and chairman of Sun-Times Media who died on Wednesday.

Obama said in a statement, "Michelle and I were deeply saddened to learn of the passing of Jim Tyree. Jim was a quintessential Chicagoan, a South Side kid from humble roots who worked his way to the top but never left the city behind. He was beloved for what he gave back to the city that gave him so much -- from his work with non-profit organizations, to his service on the board of the University of Chicago Medical Center, to his role in giving the Sun-Times a new lease on life. He will be sorely missed, but never forgotten. Our thoughts and prayers are with his wife, Eve, and their three children in these most difficult of times."

Mr. Tyree, 53, had been battling cancer for several months. The Chicago Sun-Times has a package of stories about Mr. Tyree, the "South Side kid" who loved Chicago and made sure Chicago remained a two-paper city.

Read the main story on Mr. Tyree here.

Mr. Tyree believed in a two-newspaper Chicago story here.

Publisher John Barron on Mr. Tyree here: "Jim Tyree took delight in owning the Sun-Times."