Being from Chicago and a banjo player for quite a while, I can safely say there is no such thing as Chicago style playing. I'm not so sure that I would be as liberal as Guest,Russ to say that there is no such thing as a way a banjo should be played. That's easy to say when no one is there watching and listening.

Look at it this way. The 5th string is never fretted, the 2nd, 3rd, and 4th, are tuned just like a guitar in open 'G' tuning. That leaves very little to master regarding chord formations to play simple three or four chord songs. Do it this way, with this attitude, and voila! you're playing the banjo in it's most elementary way.