The 67-year-old man was in the area of Milwaukee Avenue and Dempster Street in Niles just after 7:50 p.m. when a vehicle hit him, police said.
After preliminary investigation, police determined he was crossing Milwaukee, traveling west, in a crosswalk, when a vehicle turning right from westbound Dempster to northbound Milwaukee hit him.
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The bicyclist was taken to a local hospital with serious but non-life threatening injuries, police said.
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The vehicle involved did not stop, and is described as a white sedan.
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Northbound Milwaukee and westbound Dempster were closed for nearly three hours, while police investigated.
Anyone with information on the crash is asked to call the Niles Police Investigations Bureau at (847) 588-6570.