Senior officials with the Barack Obama Foundation formally announced yesterday that Jackson Park will be the future home to the Obama Presidential Library.

As with all good real estate deals, location was the determining factor in picking Jackson Park. Obama Foundation chair Marty Nesbitt says President Obama and First Lady Michelle Obama believe Jackson Park will have the greatest long-term impact for the future of South Side development, and will attract visitors from around the globe. Nesbitt also cited Jackson Park's historical significance as home to the 1890 World's Columbian Exposition, and that the Presidential Library will help realize Frederick Law Olmsted's vision of connecting Jackson and Washington Park to form a South Side museum campus.

The Obama Foundation named architects Tod Williams and Billie Tsien to head the design team. Programming will begin next year.