CHICAGO (STMW)–A man who was stabbed collapsed on busy Michigan Avenue Friday night across from the Art Institute and not far from the Lollapalooza music festival.

Witnesses and authorities said the incident happened shortly before 7 p.m. on the southwest corner of Adams and Michigan and across from the Art Institute of Chicago.

Police said the 53-year-old man was stabbed in the chest. Paramedics took him in “stable” condition to Northwestern Memorial Hospital, Fire Media Affairs spokeswoman Meg Ahlheim said.

Mallory Ford, 25, Lincoln Park, said she was waiting on the Art Institute’s front steps for a friend to bring her tickets to Lollapalooza. She saw a group of people across the street before a bus passed by, and then she saw middle-aged man who appeared to be hurt.

“I could see him standing on the corner then he fell on the [light] pole,” Ford said. Then she saw the man on the ground.

Sammy Wasso, who was handing out fliers for a tarot card reader in front of the Art Institute, said he “saw blood on a guy’s shirt.” He said the victim was wearing what appeared to be a sleeveless t-shirt.

A short-time later, Wasso saw a younger man taken into a police car.

Area Central detectives are conducting a “ongoing investigation,” police News Affairs Officer Darryl Baety said.

(Source: Sun-Times Media Wire © Chicago Sun-Times 2012. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)