The shooting happened at about 10:15 p.m. on Friday at the parking lot of the Marriott Hotel at 50 N. Martingale Road, Schaumburg police said.
Police responded to a call of a woman shot. She was taken to Lutheran General Hospital, where she later died.
She was identified as Christine Moyer, 45, of Galena, Ohio, according to the Cook County Medical Examiner's Office.
A suspect was taken into custody at the scene, Schaumburg police said.
Police said the victim and the suspect knew each other.
A gun was recovered at the scene.
Nobody else was injured in the shooting, police said.