The fire in the Back of the Yards neighborhood was extinguished as of 6:30 a.m.
The victim has only been identified as a man in his 40s. The two other injured were hospitalized in good condition after they reportedly jumped to safety from the apartment building's second floor.
Multiple ambulances had responded to the scene and crews searched the house for anyone inside. Several other residents escaped unharmed.
The cause of the fire was unknown early Wednesday.
(The Associated Press and The Sun-Times Media Wire contributed to this report.)