Police said a a Ford Escape SUV struck a pedestrian in her 30s as she was crossing Canal Street at Harrison Street around 1 p.m.
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The SUV then fled northbound on Canal Street, police said.
The woman was transported to Stroger Hospital, where she was pronounced dead.
The suspect was driving a blue Ford Escape that police said was stolen from a 7-Eleven in 1100-block of West Belmont Avenue. The vehicle has front end damage and police have released surveillance images of the suspect's vehicle.
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Chicago police are currently investigating the incident.
Anyone with information regarding the accident is asked to contact the Chicago Police Department Major Accident Investigation Unit at (312) 745-4521.