From the Show's website:
2010 SAAB 9-5 SEDAN: Due its recent sale, Saab has chosen not to display at the 2010 Chicago Auto Show. The future direction of Saab is apparently secured with the sale to Dutch manufacturer Spyker Cars NV. This means that the redesigned 2010 Saab 9-5 Sedan and Wagon are coming to market.
The rest of the spiel is a rundown on the Saab 9-5 itself but the important news is in the first sentence.
It's shame for Chicago Saab nuts who turned out in great numbers in the recent Chicago Saab Support Convoy, but I'm sure Saab will get on to the show circuit soon enough. Just bad timing on this one, I guess.
I've shot off an email and I'll post any updates as they come to hand (hopefully in the morning).
Thanks to Robert P and TGX4776 for the heads-up via comments.

SAAB will be represented at the Cincinnati Enquirer Auto Expo c/o Just SAAB. We, as a dealer, have purchased the space and will provide our own cars. It won't be as "fancy" as if GM had provided our display and cars but we felt it was important to show that we're still here and to be able to spread the message of SAAB being purchased.
Dates:
February 25 - 28, 2010
Someone reserved the space for Saab; perhaps it was the local dealers as well.
Very Disappointed!
As Swade mentioned, just bad timing.
Agree with Mitch, it would have been difficult to explain, too.
We'll have a 2009 Spring Edition Convertible but not sure of car no. 2. Still trying to figure that one out.
I have seen photos and read first impressions of the 9-5 for the better part of a year. Yet there is no way I'm going be able to make heads or tails of it before I can see it in person.
This can be done at a dealership but being able to then walk across an aisle and see the cars it is competing against is something the internet can't match.
http://www.chicagoautoshow.com/vehicles/detail.asp?make_id=44
Just last night, eating dinner with my family, I proposed we take the train or even drive up to Chicago (from St. Louis) to see the show, hang out, and grab something to eat. Everyone was up for it.
We go to the St. Louis auto show every year, but I boycotted it this year because Saab wasn't there.
I got all excited about going to see the new 9-5 in Chicago for nothing. :(
I think that SAAB would be well-served to introduce a 4 wheel drive variant of the 9-5 combi that has a third row pop-up seat. I think the lack of those options in the current 9-5 combi has driven many potential buyers to other options and away from SAAB over the past decade.
I realize the sale to Spyker isn't through, but an explanation would be appreciated rather than the "we know best and don't have to explain ourselves to you" style action of a giant corp.
I question wether or not the next 9-3 wagon will do well in the USA since there will be a 5 door. My sense is Saab buyers go for the Combi now since it is the closest thing to a hatch.
That just means I'll need to visit the dealerships as soon as they're available, which is fine.
While not as large as Chicago, the Cleveland show is the 6th largest in the US and occupies 1,000,000 sq. ft. on one level. It is conveniently located next to the Cleveland Hopkins Airport.
We hope to see many of you there!
Jim Levine
Saab of North Olmsted
I understand the reasoning behind it but still... boo-hoo. =(
I hope you have a great show.
New BMWs don't really interest me at all even though I have a 2002 330ci. Audi seems very interesting to check out, just to compare to Saab, but with Saab not being there it's really hard to compare both brands.