Officers were called to the 4200 block of W. Thompson Street around 6:20 a.m. Monday.
That's where they found a woman between 35 and 40 years old stabbed multiple times.
She was pronounced dead at the scene.
Chopper 6 video: Woman stabbed in Parkside
Police say they have a suspect in custody, but that person's name has not been released.
The weapon has been recovered, police say.
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