Officers were called to an assisted living home in the village of Park Forest Friday after the man, identified as John Warna, allegedly became combative with employees of a private ambulance company who were attempting to transfer him to a hospital for medical treatment, The (Chicago) SouthtownStar reported.
Police said Warna was threatening the facility's staff and paramedics with a metal cane and a shoehorn when officers arrived.
Police said they used a stun gun on Warna and struck him with beanbag rounds after he refused to drop the items and grabbed a 12-inch butcher knife instead.
Warna was conscious and talking when he was hospitalized Friday, but was pronounced dead at 2:30 a.m. Saturday, the newspaper said.
A cause of death had not been released by Saturday evening, NBC News reported.
The Illinois State Police Public Integrity Unit was reviewing the incident.