12/17 UPDATE: 

The Cubs have signed free-agent RHP Mark Leiter Jr, INF Dixon Machado, and INF Ildemaro Vargas to 2022 minor league contracts.

Should they be added to the MLB 40-man roster at some point during the 2022 season, Machado and Vargas are out of minor league options, and Leiter, Machado, and Vargas have the right to elect free-agency if outrighted. 

They also will be eligible for selection in the Major League Phase of the 2021 MLB Rule 5 Draft, whenever it takes place. 

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12/1 UPDATE: 

The Cubs have officially signed another 2021 IFA, bringing to 34 the number of IFA signed by the Cubs so far in the 2021 ISP (see full list below).

21 Cubs minor leaguers were declared post-2021 MLB Rule 9 (formerly MLB Rule 55) minor league free agents at 5 PM (Eastern) on Sunday 11/7.

UPDATED 11/7 

As things stand right now...

The best thing about non-tendering a player on December 2nd is that it's the one day each year when a club can remove a player from its MLB 40-man roster without having to risk losing the player off waivers.

An unsigned player under club control who has accrued at least three but less than six years of MLB Service Time is automatically eligible for salary arbitration.