Political observers believe Kleinschmidt and Matt Czajkowski are the front-runners.
Augustus Cho is also running, along with a fourth candidate -who said he dropped out of the race. But Kevin Wolff is putting out a flyer that's been seen at early voting sites.
It says Kleinschmidt -who's openly gay- is a gay rights activist while Wolff and Czajkowski are not.
Front-runners say they're disappointed with the flyer, but they are focusing on big issues instead like taxes.
"I am genuinely fearful that Chapel Hill will become a town in which it is so expensive for most people, as I've been saying from the beginning of the campaign, that we will lose a great deal of the diversity that we so cherish here," Czajkowski said.
"Here in Chapel Hill we have a history of measured growth, and I think that history is going to serve us well," Kleinschmidt said. "I don't believe that sweeping, promises like that serve good government. Certainly don't serve our community."
The election will be held Tuesday.