By Jeremy Ross

CHICAGO (CBS) — A drug bust leads to gunfire in Chicago’s Austin neighborhood.

One man is dead. A federal agent is sent to the hospital.

CBS 2’s Jeremy Ross has the details on the developing story.

A stretch of Central Avenue near I-290 was shut down for hours Saturday after gunfire and an ongoing investigation.

Evidence markers and police tape littered the area underneath the interstate.

The Drug Enforcment Agency, or DEA, issued a statement that they were on a significant investigation involving cocaine dealing.

A marked squad attempted to pull over one of the vehicles involved when it drove off.

When a second stop was attempted, the vehicle hit a DEA agent in his car.

According to the release, fearing for his life, that federal agent fired his gun hitting a person in the striking car killing that person.

A neighbor reacted to the incident.

“Condolences to the family. I’m sure he (the DEA agent) was trying to defend his life in the process. It’s just terrible when you hear things like that,” said Derek Jenkins.

The agent was taken to a local hopsital with non-life threatening injuries.

Accoring to the DEA, a significant amount of cocaine was discovered.

The Chicago police department is coordinating the shooting investigation with the federal agency.