The incident began inside the Castle Hill Housing Development in the Castle Hill section around 11 p.m.
Police officers responded to several calls of shots fired, and when they arrived at the scene, they encountered a man fitting the description of the suspect holding a gun.
Gunshots rang out, and a brief foot pursuit ensued.
The chase ended at at Randall Avenue and Olmstead Avenue, where more shots were fired and the 26-year-old suspect ended up dead.
Sources tell Eyewitness News that as many as six officers fired their service weapons.
A .45-caliber handgun was recovered at the scene.
The officers involved were not injured.