Graduate student Helen Lyle becomes intrigued by a local urban legend while researching superstitions in a housing project on Chicago's Near North Side. The legend speaks of the Candyman, a supernatural killer with a hook for a hand, supposedly summoned by saying his name five times in front of a mirror. Skeptical of the story, Helen and her friend Bernadette Walsh mockingly summon the Candyman, which leads to a series of gruesome and inexplicable events, casting doubt on Helen's disbelief.

As Helen delves deeper into the mystery, she encounters Anne-Marie McCoy, a resident cautious of the legend, and the enigmatic young boy Jake who provides insight into the Candyman's haunting lore. Helen's investigation draws her into a web of history, horror, and tragedy that blurs the line between the real and the supernatural. Her pursuit for knowledge transforms into a personal quest for survival as she confronts the terrifying truth behind the myth.