Watch President Obama's Farewell Address

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President Barack Obama

"Yes we can."

President Barack Obama will give his farewell address in Chicago on Tuesday, a week and a half before President-elect Donald Trump's inauguration day. 

In previewing his remarks, Obama wrote that he is focusing on the "peaceful, democratic transfer of power" as he heads to his hometown of Chicago "to say my grateful farewell to you, even if you can't be there in person."

"Tonight it's my turn to say thanks," he began on Tuesday night, promising "the peaceful transfer of power from one freely-elected President to the next."

"To all who serve, it has been the honor of my lifetime to be your Commander-in-Chief."

"My fellow Americans," he concluded his speech, "it has been the honor of my life to serve you. I won't stop; in fact, I will be right there with you, as a citizen, for all my remaining days. For now, whether you're young or young at heart, I do have one final ask of you as your President - the same thing I asked when you took a chance on me eight years ago. I am asking you to believe. Not in my ability to bring about change - but in yours."

"Yes we can."

Last Friday, Michelle Obama gave her final speech as first lady at a ceremony honoring the school counselor of the year, where she said that being first lady "has been the greatest honor of my life" as she bid an early farewell to the White House. Before saying goodbye, she encouraged students to "lead by example with hope, never fear."

Watch below.