The speculation has been dragging on for months and now it's almost official: The location of the Barack Obama Presidential Center will be in Chicago. ABC News is reporting that one of two South Side Chicago sites are in the running for the Obama Library under the University of Chicago's winning bid:

  • Jackson Park
  • Washington Park

The Obama Foundation confirmed the announcement will take place Tuesday at 5 a.m.

The city of Chicago is where the president and first lady lived and worked before Obama was elected to the Senate in 2004, has been long considered the front-runner to land the library.

Other finalists that submitted bids to build the library included:

  • Columbia University in New York
  • The University of Hawaii in Honolulu

A press conference is scheduled for Tuesday at noon