Updated 07/29/11 – 10:19 p.m.

CHICAGO (CBS) — Chicago police officers were involved in a shootout with at least one suspect who shot and killed two people in the Chatham neighborhood Friday afternoon.

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Police Supt. Garry McCarthy said that three officers witnessed a shooting at 82nd Street and Cottage Grove Avenue around 3:30 p.m.

The officers saw a gunman walk up to a man on the street and shoot him, before continuing on the sidewalk, where he shot a woman, McCarthy said.

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A fire department spokesperson said the woman was taken to Advocate Christ Medical Center in Oak Lawn in critical condition. The Cook County Medical Examiner’s office said the woman — identified as Moneet Baker, 22, of 8223 S. Drexel Ave. — was later pronounced dead at 6:32 p.m.

A man in his 20s was taken to Jackson Park Hospital, where he was pronounced dead on arrival.

After the shooting, the officers then exchanged fire with the gunman, who got into a pickup truck with another person and fled the scene, McCarthy said.

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The exchange of gunfire between the police and the suspect continued during the car chase and the suspect crashed the truck about a block away.

There was more gunfire exchanged between suspect and police and then the truck started going again for another several blocks and then stopped near 86th Street and Ingleside Avenue. Police arrested the gunman and the driver of the vehicle.

Witnesses said police and the suspects exchanged a lot of gunfire during the chase.

“That’s all you saw was bullets blazing,” said witness Lisa Leon. “I was getting down low.”

Local resident Samuel Smith said he was painting and hanging blinds in his home when he heard 15 to 20 shots fired.

“I kind of ducked a little bit and once I got up and looked out the window, I just seen the police all over the place,” he said.

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Officials said that no one was injured in the exchange of gunfire between police and the suspects.