SEPTA officers first reported that they heard gunshots around 6:00 p.m. Sunday near 50th and Market streets.
A man in his 20s was found shot multiple times in the chest and arms. He was taken to the Hospital of the University of Pennsylvania where he later died.
The suspects took off from the scene and crashed at 52nd and Chestnut streets.
One person was taken into custody. No word on formal charges being filed.
Philadelphia police are still investigating what led up to the shooting.