Sean Wiley was apprehended soon after the bank branch, located at 145 West North Avenue, was robbed.
Wiley is accused of stealing $1,180 in cash.
Wiley entered the bank about 2:15 p.m. Monday wearing a dust mask, white towel and glasses on his face and carrying a black plastic bag, according to an affidavit. He then said, "This is a robbery," and handed a bank employee the bag.
When a bank employee stood up to confront Wiley, he allegedly said, "Don't be a hero, you want to go home to your family tonight, it's the bank's money," according to the affidavit.
He kept his right hand on his waist while holding the towel over his face, the affidavit said.
The bank employees put money and a GPS tracking device in the bag and Wiley fled after complaining it was not enough money, the affidavit said. The employees then activated the bank alarm.
Chicago Police were given a description of the suspect and the location of the tracking device and captured Wiley as he ran through North Wieland and West Schiller streets -- about 2 1/2 blocks southwest of the bank, the affidavit said.
Police brought the man back to the bank and employees positively identified him as the robber, the affidavit said.
The FBI recovered the white towel, which Wiley left at the bank, a black dust mask and baseball cap in an alley adjacent to the bank and $185 cash on Wiley, the affidavit said. A black plastic bag with $1,000 was also recovered in a nearby alley.
The Sun-Times Media Wire contributed to this report.