Police said the shooting happened at about 3 p.m. at a currency exchange in the 5000-block of West Fullerton Avenue in the city's Belmont Cragin neighborhood.
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According to police, someone walked into the currency exchange and attempted to rob it. A 46-year-old man was shot in the head and pronounced dead at the scene. Police confirmed he was an employee of the business; friend and the building's landlord said he was the owner.
The victim was identified as Horacio Galvan-Hernandez.
Detectives collected evidence at the business and canvassed the neighborhood for surveillance video.
"Apparently the guy was trying to walk in front of the bakery, so we caught him on camera," said Ciro Olivares, owner of Panaderia La Luna.
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What's on the neighborhood surveillance cameras along the strip of businesses will be crucial to investigators. They spent hours checking cameras and collecting evidence.
Neighbors said Galvan-Hernandez had worked to guard his business from this exact kind of crime.
"A couple time we went to neighborhood watch," said Olivares.
Friends and family gathered outside the shop and left memorial candles in Galvan-Hernandez's honor.
No one is currently in custody.