Bike thefts seem to be taking a sharp rise in Chicago, and likely in other cities as well. The gangs are using "Sucker Poles" which are regular signs or other kinds of poles that have been unbolted from their bases. Although sometimes they are even unbolting the poles on the spot or even busting the locks or dismantling the bikes.
Not very many people know about the city's website for reporting stolen bikes (stolenbike.org) and only about 10% of victims are actually reporting the thefts, making it even more difficult to get the bikes returned or the crooks convicted.
The city is trying to help prevent the thefts by installing more bike racks around the city.
The best way to prevent bike theft is to lock the bike to a bike rack, making sure to use a good lock and making sure that it's going through both a wheel and the frame itself. Making note of the model and serial number can help get a bike back, as well as making distinguishing marks on the bike like branding the saddle.
http://www.dnainfo.com/chicago/20131111/lincoln-park/bike-theft-gangs-using-sucker-poles-steal-bikes-across-city