The shooting took place at about 3:20 a.m. in the 500-block of North State Street.
Police said two men, ages 65 and 30, were outside when they heard gunshots and felt pain.
The 30-year-old man was shot multiple times and transported to Northwestern Memorial Hospital, where he was later pronounced dead, police said.
A 65-year-old man was wounded in the foot and transported to Northwestern Memorial Hospital, where he was listed in fair condition, police said.
An employee at the Royal Sonesta Chicago River North said he heard multiple shots, but no guests or anyone from the hotel was involved.
Area Three detectives are investigating.
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