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The CN Tower is lit in green and white colours to commemorate Franco-Ontario Day in Toronto on Tuesday, September 25, 2012.Michelle Siu/The Canadian Press

Step aside, Chicago – Toronto's moving on up.

A city report says Toronto has surpassed Chicago in population and is now the fourth-largest city in North America behind Mexico City, New York, and Los Angeles.

The Economic Dashboard report – which was presented Tuesday at an Economic Development committee meeting – said Statistics Canada recently estimated Toronto's total population at 2,791,140.

Chicago's population, according to a 2011 U.S. Census Bureau report, was 2,707,120.

"These population figures are another sign confirming Toronto's steady growth," Mayor Rob Ford wrote in a statement. "Toronto is a desirable location for people to live and work. We are attracting people from across North America and other parts of the world."

The report said Toronto's population has grown steadily for the last 10 years, at an annual rate of about 38,000 people.

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