The fire started shortly before 7 a.m. Wednesday morning.
The victim, a 77-year-old man, was in the basement. The fire broke through the first floor, trapping him below.
Duke Richmond was the first to see the fire, he cut the gas and electricity to the home, then ran inside and attempted a rescue, before fire fighter's arrived.
The elderly man died from smoke inhalation, at the bottom of his basement stairway.
Fire investigators say the blaze may have started near the floor in a hallway. Although the investigation is still underway, the cause appears to be electrical.
Winnebago County Crime Scene Investigators remained on the scene throughout the day, taking pictures, and collecting evidence.
It could take the Loves Park Fire Department several days to determine exactly what caused the fire.