When President Obama leaves office this month, history will have been made in more than one way. Obama will be giving his farewell address to the American people in his home city of Chicago at McCormick Place, a local convention centre. In his speech, the President is expected to discuss the progress America has made in the last eight years, and Obama's plans to stay active politically as a civilian citizen.

In a statement released today, Obama explained his desire to fulfil the ritual of a farewell address:

"In 1796, as George Washington set the precedent for a peaceful, democratic transfer of power, he also set a precedent by penning a farewell address to the American people ... And over the 220 years since, many American presidents have followed his lead."

Admission to the event is free, and tickets will be given out on a first-come-first-serve basis. Tickets will be released on Jan. 7, with the event itself taking place on Jan. 10.