The shooting occurred at about 4:45 p.m. in the 9600-block of South Escanaba Avenue, police said.
The boy was wounded in the face and transported to Trinity Hospital, where he was pronounced dead. He was identified to the Cook County Medical Examiner's Office as Mikah Davis.
The family of the boy told police that they heard a gunshot while in another room and found the boy with a weapon, police said.
The boy's father, 29-year-old Ronald Davis, was charged with one felony count of endangering the life and health of a child, one felony count of unlawful use of a weapon and one felony count of possession or use of a weapon by a convicted felon.
Police allege Davis knowingly left a loaded gun in a place where a child could access it.
Chicago police said they've contacted the Illinois Department of Children and Family Services to assist in the case.