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