The incident started with a hold-up at a cell phone store on South Waukegan Road in Deerfield Monday night and ended near the Tri-state Tollway and Half Day Road in Bannockburn, where the suspects abandoned their car and took off on foot.
Police pursued the suspects and found two within minutes at a nearby hotel. The third suspect escaped.
Nearby Trinity International University was put on lockdown while police searched the area.
The lockdown was lifted just before 10 p.m. when officers found the suspect in an office building.
The campus was back to its normal operations Tuesday.