ifoAppleStoreis reporting that Apple has signed a long term lease "for a northside triangle of land at 1560 N. Halsted Street." According to ifo the site first became of interest in June 2007, the site now reports that Apple has closed a deal on the 18,000 square feet site for $700,000/year.
ifo goes on to relay reports from The Chicago Business who report that Apple will erect a 15,000 square foot stucture on the land designed by local architectural firm Bohlin Cywinski Jackson..