Here's Where the Obama Presidential Center Will be Built President Obama is coming back to Chicago's South Side By Michael Harthorne, Newser Staff Posted Jul 27, 2016 4:34 PM CDT 115 comments Comments President Obama and first lady Michelle Obama have selected Jackson Park, seen here in 2015, on Chicago's South Side to build President Barack Obama's presidential library. (AP Photo/Paul Beaty File) (Newser) – The Obama Presidential Center will be built in Jackson Park on Chicago's South Side, according to sources cited by the Chicago Tribune and AP. The center will include Obama's presidential library, a museum dedicated to his presidency, and the headquarters of the Obama Foundation. It's expected to bring jobs, hundreds of thousands of visitors, and millions of dollars to an area hit by unemployment and gang violence. Jackson Park is located east of the University of Chicago along the shore of Lake Michigan. Its 543 acres include woods, greenery, and a lagoon. The Obama Presidential Center is expected to cost at least $500 million and be completed by 2021. The Obama Foundation wouldn't confirm the Jackson Park location, but a formal announcement is likely next week.