Obama Foundation Formally Announces Library's Chicago Site

The Obama Foundation has formally announced that it has chosen Jackson Park as the Chicago location for Barack Obama's presidential library.

Friday's announcement confirmed the location revealed earlier this week to The Associated Press by a person familiar with the selection process. The person spoke on condition of anonymity because the individual wasn't authorized to discuss the choice before the announcement.

Obama said in a written statement Friday that he and first lady Michelle Obama were "thrilled that the Obama Presidential Center will be developed in the heart of Chicago's South Side, a community we call home and that means the world to us."

The location beat an alternative site about a mile west in Washington Park.

The foundation says Obama believed Jackson Park would have the greatest long-term impact.