OpenSSL 1.1.0b build fails for iOS Simulator when using Xcode 7.0.1

OpenSSL 1.1.0b build fails for iOS Simulator when using Xcode 7.0.1

I’m building OpenSSL version 1.1.0b to static library for i386 platform for iOS Simulator.
When trying to build getting this error in console:

ld: building for OSX, but linking against dylib built for iOS, file '/Applicatio
ns/Xcode.app/Contents/Developer/Platforms/iPhoneSimulator.platform/Developer/SDK
s/iPhoneSimulator.sdk/usr/lib/libSystem.dylib' for architecture i386
clang: error: linker command failed with exit code 1 (use -v to see invocation)
make[2]: *** [link_shlib.darwin] Error 1
make[1]: *** [libcrypto.dylib] Error 2
make: *** [all] Error 2

Version 1.0.1t is compiled successfully with same settings.
Xcode 7.0.1 now installed on my mac.

Also please note that OpenSSL 1.1.0b compiles successfully if newer version of Xcode is installed on mac, for example Xcode 7.3.1.

Did anyone face this problem? Can You help and provide a solution?
Thank you.