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From our enemies friends at Chicagoist...
Well, whether you love the idea of the possibility of the games being in Chicago or hate it, we are the United States candidate to hold the 2016 games. Although the International Olympic Committee has no requirements to switch up continents for the games, the 2008 games are in Beijing and the 2012 games are in London so it seems likely North American will host the 2016 summer games.
Chicago wins U.S. bid for 2016 Olympics [LA Times]