Upated 2/27/2011 at 2:45 p.m.

CHICAGO (CBS) — A 39-year-old Chicago police officer was shot and wounded Saturday in the Edgewater neighborhood after police pursued armed suspects who fled a building where two homicide victims were found.

Police later fired at the suspects, killing one of them and taking two into custody.

The unidentified officer suffered a non-life-threatening injury and was expected to be OK, Chicago Police Supt. Jody Weis said at a Saturday evening news conference. Reports indicated the officer was hit in the leg.

“This is a stark reminder of the dangers our men and women face every day. It’s a tough job, and they’re out there risking their lives every day,” Weis said.

Weis said the shootouts began when members of a gang investigations unit were conducting surveillance as part of a narcotics-related homicide case in the 5800 block of North Winthrop Avenue. Officers observed subjects running from a building, where police found three victims – two dead and one critically injured. Citing preliminary information, sources told CBS 2’s Suzanne Le Mignot the fatally injured victims had been restrained with duct tape and their throats had been slit; the attacks apparently were related to a drug deal.

Weis said the suspects fled in a vehicle, ramming a police car. They fired at police, injuring the officer near the intersection of Broadway and Thorndale. After a chase, police stopped the vehicle and fatally shot one of the suspects, Weis said. The final shooutout scene was at Greenview and Devon, less than a mile from where the officer was hurt.

The Cook County Medical Examiner’s office on Sunday identified the dead suspect as 37-year-old Arturo Ibarra. He died of multiple gunshot wounds to the head,  the medical examiner’s office said.

Two additional suspects were taken into custody, Weis said.

The two slain people at the Winthrop Avenue address were still not identified as of Sunday afternoon. The M.E.’s office said both died from stab wounds to the neck.

The injured officer is a 12-year veteran of the force, Weis said. He also is a member of the department’s gang investigations unit, police said.

Initial reports of the shooting came around 5:30 p.m. Saturday.