Kenneth Johnson, an O'Hare Airport security officer, was taken to Christ Hospital in southwest suburban Oak Lawn, where he was pronounced dead.
The stabbing happened near 114th Street and Rockwell in the Kennedy Park neighborhood at approximately 2:45 a.m. Sunday.
Police have taken the man's son into custody. He is also in a hospital and may have been injured.
Charges have not been filed and police have not said anything about a possible motive.