CNN: Barack Obama wins presidential election

Obama will address the country from a rally in Chicago, Illinois, later Tuesday night.
As news broke, supporters cried and cheered, "Yes, we can."
Obama will become the first African-American to win the presidency.
The Illinois senator is projected to pick up a big win in Virginia, a state that hasn't voted for a Democratic president since 1964.
Obama also is projected to beat Sen. John McCain in Ohio, a battleground state that was considered a must-win for the Republican candidate. Watch more on Obama's Ohio win »
Earlier in the evening, senior McCain aides were growing pessimistic about the Arizona senator's chances.
Going into the election, national polls showed Obama with an 8-point lead.
In addition to the presidential contest, voters were making choices in a number of key House and Senate races that could determine whether the Democrats strengthen their hold on Congress.
Former Gov. Mark Warner, a Democrat, will win a Senate seat in Virginia, CNN projects. He will replace retiring Republican Sen. John Warner.
Incumbent Sen. Elizabeth Dole, a Republican, is projected to lose her North Carolina seat to Democratic challenger Kay Hagan. Watch Dole concede defeat »
Dole is the wife of 1996 Republican presidential candidate Bob Dole