Police were called to a residence around 11:10 p.m. in the first block of Howard Avenue for a report that a man damaged a vehicle and threw a gold club at a nearby victim.
Two officers responded to the home and tried to place the 47-year-old man under arrest. However, the man pulled a knife out of his pocket and pointed it toward officers, officials said.
The officers told him to drop the knife but the man lunged toward one of the officers with the knife drawn, Lake County officials said.
Both officer opened fire, striking the man who fell to the ground. Paramedics were called and rendered aid but the man was pronounced dead at the scene. He was identified as Israel Contreras-Madagan from Wauconda, according to the Lake County Coroner's Office.
An autopsy revealed he died from multiple gunshot wounds.
The man's acquaintance, a 43-year-old woman who lived at the residence, was struck in the leg by one of the bullets. Officers rendered aid to her until she was taken to a local hospital to be treated. Police said she was expected to be released from the hospital on Monday.
The Lake County Major Crime Task Force is investigating the shooting.