As reported by his mom and confirmed by Jim Callis on 7/20, Hope has signed with the Cubs.

Jeremy Nygaard:
The Cubs must have worked that calculator on Monday night and realized they had money to spend on Hope, who is rumored to be forgoing a UNC commitment. The road to Wrigley will be long for Hope, but he's a plus athlete. It will be on the developmental team to turn him into a baseball player. There's plenty of risk here as well, but the "take a prep with the first pick on day three" is a strategy of which I'm a fan.