Heat the olive oil in a large pot over medium heat. Add the diced onion and sauté for about 5 minutes until translucent. Stir in the minced garlic and cook for an additional minute until fragrant.
Add the chicken pieces to the pot and season with chili powder, cumin, smoked paprika, salt, and black pepper. Cook for about 5-7 minutes, stirring occasionally, until the chicken is browned on all sides.
Stir in the corn, black beans, diced tomatoes with green chilies, and chicken broth. Bring the mixture to a boil, then reduce the heat to low and let it simmer for 20-25 minutes, allowing the flavors to meld.
Once the chili is done simmering, stir in the chopped cilantro and lime juice. Taste and adjust seasoning if necessary.
Serve the chili hot, topped with crumbled queso fresco, diced avocado, and lime wedges on the side.