The Cook County Medical examiner said the victim is 35-year-old Cordaryl Allen.
The shooting happened early Sunday morning at the North Side hotel's rooftop lounge on Clark Street at about 1:21 a.m., according to police.
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Police said the 35-year-old victim got in a fight with another man in the lounge. The suspect then shot the victim in the chest.
He was taken to the Advocate Illinois Masonic Medical Center, where he was pronounced dead, police said.
Hotel guest, Hayden Croucher, said a lounge employee burst into his room moments later in search of cover.
"The guy runs in and then I see him run out, and then he stopped and knocked. And I'm like, ok what's going on? I go up there. He's like stiff bodied. And I'm like, 'Man, what's going on? And he's like, 'Someone just got shot upstairs. Can I just come in and hang out?' It sounded sketch, but I let him in, Croucher said. "I calmed him down and he's like, uh, he said he heard someone arguing over water bottles or something like that. And he said no one really thought it was a gunshot. It was like a pop. And a manager or something like that screamed to everybody get out of there, and that's when he just ran."
Investigators are still looking for the shooter, who allegedly ran down the stairs and out the front door of the hotel, according to police scanner traffic overnight.
While it's still not clear if the victim and the shooter knew each other, police said a physical altercation had broken out between them when one pulled the gun out on the other.
There is no one in custody and Area Three detectives are investigating.
Located just steps from the lakefront and directly across the street from Lincoln Park, Hotel Lincoln's lounge is a popular one among Chicagoans for its sweeping views of the city.
In recent weeks, the Hotel Lincoln rooftop lounge, and its possible expansion, has been a source of concern for some of the area residents. A meeting was held between management and community members at the end of last month to discuss the hotel's plans to add 1,700 square feet of space to the rooftop, with the hopes of having it ready by next summer.
Dan White, the hotel's area general manager, would not elaborate on what happened but released a one-line statement, saying, "we are fully cooperating with law enforcement as they conduct their investigation."
While there are presumably surveillance cameras inside the hotel, police, as of yet, have not released any footage that might help aid in catching their suspect.
Police have not provided further information about the shooting.