D328 EXPERIENCES NMAC WITH VFR TRAFFIC WHILE DESCENDING INTO MKG.

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THE EVENT OCCURRED BECAUSE ATC WAS TOO BUSY. I MADE A COMMENT TO THE CAPT AS WE WERE APCHING MKG THAT WE WERE HIGHER THAN USUAL AT THIS POINT IN THE FLT. FINALLY ZAU GAVE US 24000 FT AND HANDED US OFF TO ANOTHER CHICAGO FREQ. THEY CONTINUED TO LEAVE US HIGHER THAN USUAL. AS I MENTIONED THAT WE SHOULD ASK FOR LOWER THEY CAME ON AND GAVE US LOWER MENTIONING THAT THEY HAD LEFT US HIGH. I BEGAN A DSCNT OF ABOUT 3000 FPM DOWN TO 14000 FT. THEY THEN ASSIGNED US AN ALT OF 10000 FT; 210 KTS; AND A HDG OF 270 DEGS AS ATC WAS LINING US UP FOR THE ILS RWY 7R. WE WERE LEVEL AT 10000 FT FOR ALMOST 1 MIN AS WE WERE ENTERING THE TERMINAL AREA FROM THE E. I WAS FLYING THE ACFT. I NOTICED ON TCAS THAT AN ACFT APPEARED TO BE APCHING OUR FLT PATH 500 FT BELOW US. HE APPEARED TO BE FOLLOWING THE SHORELINE S AS WE WERE HEADED W. WE TRIED TO ALERT ATC BUT HE WAS SO BUSY THAT WE NEVER HAD AN OPPORTUNITY TO TALK TO HIM. THE DISTANCE BTWN OUR ACFT CONTINUED TO DECREASE. WE RECEIVED A TFC CAUTION. THE ACFT WAS NOW SHOWING 300 FT BELOW US. I FINALLY SAW THE AIRPLANE AS WE RECEIVED THE RA WARNING TO CLB. I IMMEDIATELY DISCONNECTED THE AUTOPLT; INCREASED THE PWR; AND PITCHED UP FOR THE GREEN ON THE VSI. I CLBED ABOUT 500 FT BEFORE IT STATED THAT WE WERE CLR OF THE EVENT. AT THAT POINT I DISCONNECTED THE CLB. WE ADVISED ATC OF OUR RA AND DEV AND RETURNED BACK TO OUR ASSIGNED ALT AS SOON AS WE DETERMINED IT SAFE TO DO SO. ATC ACKNOWLEDGED AND TOLD US TO DSND DOWN TO 7000 FT. WE ASKED ATC IF THEY WERE TALKING TO THE OTHER ACFT AND THEY STATED THAT THEY WERE NOT TALKING TO THEM. FROM MY BRIEF LOOK AT THE OTHER ACFT IT APPEARED SMALL; MORE THAN LIKELY THAT OF A GA ACFT. THE WX WAS NOT TOO BAD. SOME SCATTERED LAYERS AND MAYBE EVEN A HIGHER BROKEN LAYER. THERE WAS A SCATTERED LAYER RPTED AT 600 FT. THEREFORE ACFT WERE SHOOTING THE ILS INTO RWY 7R.