Officers were called to the scene in the 700-block of Piper Lane at about 1:32 a.m. When officers arrived, they found a 26-year-old victim lying on the floor.
The man was transported to Glenbrook Hospital and later pronounced dead. Police said it is an isolated incident and that witnesses are being interviewed to identify the stabber.
Authorities have not released the identity of the man, Prospect Heights police are investigating with assistance from the Major Case Assistance Team.