Chicago police said the red SUV, driven by a 21-year-old man, was traveling west in the first-block of East 87th Street about 4:20 a.m. when it lost control, hitting the building.
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The man was taken to University of Chicago Medical Center in serious condition, and a 74-year-old woman who was inside when the car hit the building was taken to Advocate Trinity Hospital for evaluation. She remained stable in good condition, police said.
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The Chicago Fire Department said it did not evacuate the building, but the building department was notified.
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The man will be issued traffic citations, police said.