Pros : Compact plan has 90 percent of athletes within 15 minutes of venues ; use of temporary venues and venues that can be scaled down post-games reduces risk of " white elephants " and could limit costs ; legacy of youth sports programs ; Lake Michigan provides picturesque backdrop ; strong partnership with city and federal governments--President Barack Obama 's home is within walking distance of planned Olympic stadium ; American host city would be attractive to U.S. broadcasters , and TV contract--which provides the IOC with its largest chunk of revenues--hasn 't been negotiated yet .