The woman has been identified as 32-year-old Whitley McMiller, of South Holland, according to the Cook County Medical Examiner's Office.
The crash, involving a Toyota Corolla and a Kia Forte, happened in the East Hyde Park neighborhood on DuSable Lake Shore Drive near 53rd Street at about 1:15 a.m., police said.
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The Chicago Fire Department transported a 32-year-old woman, who was a passenger in the Toyota Corolla, to the University of Chicago Medical Center, where she was pronounced dead, police said. Four other people were hospitalized at the University of Chicago Medical Center and Northwestern Memorial Hospital with non-life-threatening injuries.
All northbound lanes were closed, but have since reopened, police said.
The Major Accidents unit is investigating the cause of the crash. Police did not provide further information about the crash.