The victim was a man riding a bicycle south across the street in the 3700-block of West Lake Street in Garfield Park, according to police.
Police said a white Chrysler 300 traveling west on Lake Street hit him just after 12:30 a.m. and did not stop. The car reportedly turned north on Hamlin Avenue with expected damage to its front-end.
Chicago police released a photo of a similar vehicle and asked for the public's help in finding a suspect.
The victim was taken to Stroger Hospital, where he died.
Neither the victim nor a suspect has been identified.
Area North detectives at the police Major Accidents unit are investigating. Anyone with information is asked to call 312-745-4521.