The pair are to make what has been described as a ''very personal'' LP which will see Kane return to his hometown so the pair can be in the studio together to lay down the hip hop tracks.
Chance - who also hails from Chicago, Illinois - told local TV news show Windy City Live: ''Working under him, working with him on his albums is crazy, but having him tell me that he wants to produce my album and come to Chicago is like... This month, we're working in Chicago.''
Chance, 25, also revealed that work has already begun on some of the record, claiming that it is already ''30 per cent complete''.
Announcing the two LPs, he said: ''I've been actively working on the project with Childish. I'm going to do a seven-track with Ye (Kanye).''
On the work he's made with Glover, he added: ''We've got six songs that are all fire, but I think the album is going to be more than 14 songs.''
The Irish folk brothers have plenty of stories to tell.
In terms of approach, 'Chain Tripping' takes some beating. To call Yacht's latest release conceptual would be underplaying its inspiration wildly.
On 'Tallulah', Grant Nicholas and Taka Hirose seem to have that burning connection again.
Burn My Eyes was released on this day (August 9th) in 1994.
With an eclectic mix of established acts, up and coming talent and resurgent household names, Neverworld once again offered up some superb musical...
Listen to their new song 'Alchemy'.
They release their album 'I Won't Be Found' next month.