Felony theft is committed when the value of stolen property exceeds what amount?

Felony theft is defined by the value of the stolen property exceeding a specific monetary threshold, which varies by jurisdiction. In the context of the Chicago Police Department and Illinois law, the correct value that designates theft as a felony offense is $500. When property valued at more than $500 is unlawfully taken, it is classified as a felony rather than a misdemeanor.

This differentiation is vital in law enforcement and legal proceedings, as felony charges can lead to much more severe penalties, including longer prison sentences and more substantial fines compared to misdemeanor theft charges. Understanding these thresholds allows law enforcement officers to make appropriate charges and helps the judicial system determine the severity of the crime. In this case, since the question pertains to the threshold amount for felony theft in Illinois, $500 is the accurate answer.