Lausanne, Switzerland (My Sportsbook) - The International Olympic Committee has released its evaluation report of the four cities bidding to host the 2016 Summer Olympics.

The IOC will not select a winner until October 2 at the committee's meeting in Copenhagen. Chicago, Madrid, Rio de Janeiro and Tokyo are the finalists vying to host the Games.

The IOC's Evaluation Commission made a four-day stop to each city to assess its ability to host the 2016 Olympics, and released a detailed report Wednesday that contained praise and concern for each city.

Chicago's lakefront Olympic Village proposal and compact competition venue layout, in which 22 venues would be within eight kilometers of the city center, were cited as positives.

However, the report said the increase of commuter traffic "could be a major challenge" for the city's transportation system. It also said Chicago 2016 did not provide a guarantee covering a potential economic shortfall.

The commission expressed concern for the relatively low level of public support for Tokyo's bid, as well as the availability of land for Olympic Village construction and traffic challenges around the Village and Olympic Stadium.

However, the report gave praise for the compact venue plan and Tokyo's "extensive and high-capacity public transport network." It also noted Tokyo, which hosted the Olympics in 1964, established an "Olympic Hosting Reserve Fund" valued at $3.7 billion.

As for Rio de Janeiro, its plan is somewhat parallel to the city's existing development plans. The report said the city's bid is bolstered by strong public support (85 percent within the city, 69 percent nationally), and by its experience hosting the 2007 Pan-American Games.

Challenges for Rio de Janeiro, according to the plan, would be providing efficient transportation and adequate public safety, as well as securing cruise ships for accommodations.

Madrid, which also put in a bid for the 2012 Games, has strong public support (85 percent within Madrid, 86 percent nationally), and does not need to build much. The report said that 23 of 33 venues already exist, and two others will be built regardless of the bid's outcome. It also said the compact layout would result in short travel times.

However, the report noted Madrid "did not demonstrate a full understanding of the need for clear delineation of roles and responsibilities," and said it could result in organizational and financial challenges.