A police officer shot Nomad Khan after he allegedly wouldn't drop the knife he had in his hand.
Witnesses say it started when two cars collided at the corner of LaSalle and Monroe.
Khan then allegedly attacked the other car's driver with a knife.
A Chicago police sergeant confronted Khan, and when he did not surrender the officer shot and subdued him.
A private security guard was also stabbed during the incident.
Khan is from Westmont. He will be in court for a bond hearing on Monday.