I have an Ionic 2 app, which builds and is testable in Xcode 8.2.1 Simulator environment, e.g. iPhone7 (Build Successful).
Xcode 8.2.1
iPhone7
Build Successful
The problem is in Code Signing Identity. This is a new problem that showed up on the latest release of Xcode. Go to Code Signing Identity, make all IOS Developer rather that IOS distribution.