Story highlights President Barack Obama will deliver a farewell address in Chicago on January 10

It's a tradition stretching back to George Washington's departure from office

Honolulu, Hawaii (CNN) President Barack Obama will deliver his farewell address to the nation on January 10 from his home city of Chicago, the President announced in a statement Monday.

"I'm thinking about them as a chance to say thank you for this amazing journey, to celebrate the ways you've changed this country for the better these past eight years, and to offer some thoughts on where we all go from here," Obama wrote.

President Obama said he was following the precedent set by George Washington, who penned a farewell address to the American people over 220 years ago.

George W. Bush also delivered a farewell address in 2009 from the White House.

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