Police said the man was walking in the bike lane in the 3900-block of Lake Street at about 1:30 p.m. when a vehicle struck him. The vehicle then struck a parked car, which crashed into a CTA bus stop.
Family identified the victim as Lee Davis, a grandfather who leaves behind a large family.
The crash was apparently witnessed by people coming off the nearby CTA Green Line station, as well as some people who left a nearby convenience store after hearing what they described as an incredibly loud impact.
A witness recorded the scene on his cell phone. According to the witness, the video shows the victim's body on the street, and the alleged hit-and-run driver in a red shirt being confronted by onlookers who tell him to remain at the scene.
"I see the guy who hit the guy and circles hysterical, saying he wasn't trying to do it, and I start recording," said the witness, who asked not to be identified or show on camera. "And the guy who did it hopped in his car and took eastbound down Lake Street."
Multiple witnesses said he eventually got into his vehicle, perhaps a gray Jeep SUV, and sped away. The alleged driver was taken into custody by Chicago police shortly after 6:30 p.m. Charges are pending.
Davis was taken to Mt. Sinai Hospital, where he was pronounced dead.
A police investigation is ongoing.