At about 6:30 a.m., Montreal police were dispatched to a home on Beaconsfield Avenue near Somerled Avenue after security guards protecting the home reported an incident involving an armed man.
The man allegedly approached the security guards and pointed a rifle at them. No shots were fired.
Officers responded quickly, but the suspect fled on foot.
A rifle was recovered near the scene and police are now analyzing it for evidence.
Montreal police said they could not confirm the owner of the home for "legal reasons."
"There's someone living there who is well known to police for criminal activity," said Const. Simon Delorme.
Neighbours told CBC the home belongs to Montreal businessman Tony Magi.
Magi has known links to organized crime. In 2008, he survived an assassination attempt that left his SUV riddled with bullets.
In February 2011, his wife was the target of a gunman in a daytime attack near their home in NDG. She was also driving when someone opened fired on her vehicle. She wasn't hit.
Police said the perimeter would remain in place around the home as they gather evidence. Investigators hope security footage captured at the house will help identify the armed man.Suggest a correction