Nope. It's Chicago, Illinois, for a number of factors, including a Hispanic community in public housing that can shelter their newcomer relatives and friends, available seasonal construction and agricultural work in the midwest, away from the southwestern concentration of BP/INS staff, and an interstate transportation web of roads and railroads that offers express routing to the Windy City.
The largest Spanish-speaking city in the world is Mexico City, D.F., the second Buenos Airea, Argentina. Chicago is third. As of the approximations available via the 2000 census, anyway.
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