The star is one of the first performers to sign up for the ''immersive'' event, which will take place on October 31st and November 1st in Chicago.
The National and Gloria Estefan will also take part.
Chance said in a video for the event: ''As soon as I heard about the summit, I jumped at the opportunity.
''There's a lot of great things going on in Chicago and I love the collaborative effort of being able to be at some of these talks and hear what people have going on and figuring out how I fit in. The fact that the president is jumping ahead of programming before the [Obama Presidential Center] gets built is inspiring.''
''I'm excited to see Gloria Estefan and the National and - I can't say right now but - all my friends that are coming, it's gonna be fire.''
Chance the Rapper is also working with the Foundation on the creative design of the event
A message on Obama's website states: ''On October 31st and November 1st, the Obama Foundation will welcome civic leaders from around Chicago, the U.S., and the world to join us for a two-day immersive event in Chicago. During this inaugural Summit, hundreds of leaders from around the world will come together to exchange ideas, explore creative solutions to common problems, and experience civic art, technology, and music from around the world.''
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