It happened just before 2 p.m. on Monday in the 1000 block of Alameda Street.
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Police said the man reportedly brandished a handgun at people nearby before he took off.
Video taken by a witness shows the suspect on the bike riding straight through traffic. The man then starts riding around a grassy area, but it doesn't take long for officers to catch up with him.
Soon after, the video shows officers running after the suspect near Spring Street before he was ultimately knocked down and taken into custody.
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Police said no shots were fired and no one was injured.
The incident remains under investigation.