CHICAGO — One man is dead following an exchange of gunfire in the city’s South Austin neighborhood.

The shooting happened in the 5800 block of West Madison around 12:30 a.m. Thursday, just a block away from a police station.

Police said a 53-year-old man and another man were in a verbal altercation, when they each drew a handgun and exchanged gunfire.

The 53-year-old was struck multiple times on the torso. He was transported to Stroger Hospital where he was pronounced dead.

The other man fled the scene on foot, according to police.

A 23-year-old man, who was nearby when the shooting occurred, was struck twice in his back and transported to Mount Sinai Hospital in fair condition. A 42-year-old woman, who was also nearby during the shooting, was struck on the arm and transported to Stroger in fair condition.

No one is in custody. Area Four detectives are investigating.