One of the victims was sexually assaulted in the attack, which took place earlier this month in the 2600-block of North Kedzie.
Police said a man grabbed both women from behind and pulled them into an alley. Police say he robbed them and sexually assaulted one of them at gunpoint.
The suspect is about 25-years old with a shaved head. He wore large stud earrings and a black pea coat that had buttons with anchors on them.
Police urge people in this area to be aware of surroundings and report any suspicious people or activities.