An armed man is in critical condition after being shot by Chicago police officers Monday afternoon in River North, CPD confirmed.

Chicago police said shortly before 2:30 p.m., officers saw a wanted person in the 0-100 block of West Hubbard Street, who was armed with a knife.

The man fled officers, who chased him into a business where police said they tried to de-escalate the situation. When the man still wouldn't drop his knife, police used their Tasers to try to subdue him, but CPD said it didn't work.

When the man turned toward the officers still holding a knife, the two officers opened fire, striking the man. He was shot in the upper body and taken to Northwestern Memorial Hospital in critical condition, police said.

The Civilian Office of Police Accountability confirmed they are investigating the officer-involved shooting near 30 E. Hubbard Street.

People walking by the Courtyard by Marriott River North were caught off-guard by the large police presence.

"Lot of cops, a lot of red tape, we saw an ambulance pull out," said John Decicco. Decicco was with a group of Texas Christian University students heading back to the hotel when they saw it was closed off.

Mark Shaffer is also a guest at the Marriott.

"I got dropped off by my Uber and everyone was just running around, ambulances were leaving. I asked the cop what was going on, he said 'crime scene, someone got shot,'" Shaffer said.

Pedro Priori said he was walking to the bus stop when he saw a man dressed in all black carrying a knife about 10 feet away from him. He said he saw two officers chase after him with a Taser.

"The guy went inside the hotel, the lobby, and the cops flew after him of course," he said.

The two officers involved in the incident were taken to Northwestern Memorial Hospital for observation, CPD said.

The road in front of the Courtyard Marriott and the hotel itself were closed for a time due to the shooting investigation. Hotel guests were told to check in at their alley entrance.

"I think we have to eat, settle down, kind of gather our thoughts and then move on," Decicco said.

An investigation by COPA is ongoing. The officers will be placed on administrative duty for 30 days as per department protocol.