Prosecutors say the alleged incident happened at Lincoln Park High School, where classes were not in session Monday because of President Lincoln's birthday.
The investigation into the case, however, continues.
According to police and prosecutors, the three teen boys cornered a 16-year-old girl last Tuesday at approximately 2:30 p.m. in a school stairwell. They say the teens threatened to beat up the girl's friend if she refused to perform sex acts on them.
Police say one of the suspects, Jewvon Davis, 19, turned himself in. Davis and two other suspects, Kenneth Esco, 19, and a 17-year-old male who is being charged as a juvenile, all face misdemeanor criminal sexual abuse charges.
Jewvon Davis has already been released on a $5,000 bond.
Chicago police and prosecutors have said there was a fourth teen involved, but they have not made it clear who he is.
According to a Chicago Public Schools spokesperson, the Chicago Police Department is conducting an investigation into the allegations, and district officials are cooperating with them on the matter.
CPS would not confirm whether the suspects are students at Lincoln Park High School.
The families of those accused had no comment Monday.