One man is dead after being shot in the front walkway of his Ancaster, Ont., home in what is being described as a targeted shooting.

Neighbours reported hearing several shots before seeing an SUV speed away on Thursday night.

Hamilton police rushed the the house around 10 p.m. and found 50-year-old real estate agent Albert Iavarone with a gunshot wound to his upper body. Paramedics performed lifesaving efforts, but Iavarone was pronounced dead at the scene.

Investigators said the shooting was linked to Hamilton-based organized crime. Iavarone’s wife and two children were home at the time of the shooting.

“This incident was a targeted attack,” said Det. Sgt. Peter Thom at a news conference Friday afternoon. “Mr. Iavarone has no criminal record but he is known to police because he is associated to individuals involved in traditional organized crime in the Hamilton area.”

Police believe an unidentified man driving a silver vehicle parked near the home and hid in bushes to wait for the victim.

“The culprit concealed himself in some nearby shrubbery for an extended period of time,” said Thom. “As Mr. Iavarone arrived home, the culprit left his hiding spot, approached Mr. Iavarone and shot him before fleeing in the vehicle.”

Thom would not comment on any known motive at this time, but said investigators are concerned by the number of murders, bombings and arsons in recent years in the GTA and beyond.

“It’s our belief that there is something going on in the underworld,” he said. “Maybe a power struggle. I’m not sure if this particular case factors into that.”

Police were seen canvassing the street for witnesses to the incident and are expected to review CCTV footage from security cameras positioned at the front and side doors of the home.

“I’m just shocked,” one resident told CTV Toronto. “I’ve lived here for five to six years now. Never seen any crime, never seen anything. Never even seen a single cop car drive through the block unless he’s doing speed checks.”

With a report from CTV Toronto’s John Musselman