tenses for the verb 'live' '

1) Should I say "I have lived in Chicago for many years" or "I have been living in Chicago for many years" if I am still living in Chicago now?

2) Does "I am living in Chicago" implies that it is momentary, and I will move elsewhere soon?

Thanks a lot

Tedwonny said:

1) Should I say "I have lived in Chicago for many years" or "I have been living in Chicago for many years" if I am still living in Chicago now?

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Both are possible. In this particular sentence, there is not a great deal of difference between them.

2) Does "I am living in Chicago" implies that it is momentary, and I will move elsewhere soon?

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It does suggest that your stay is not permanent, but not necessarily that it is short and/or will end soon.