Police say it happened at around 4:30 p.m. ET at Lake Shore Boulevard West and First Street.
Investigators say the cyclist was either coming south off of Dwight Avenue or was making a U-turn on Lake Shore Boulevard when she was hit by a green minivan moving eastbound.
Emergency officials pronounced the victim, who was in her 20s, dead at the scene.
The driver of the minivan remained on scene. Police say it is too early to determine if charges will be laid.