The incident occurred at about 9:34 p.m. in the 10-100-block of North Dearborn Street.
Police said the victim was in an altercation with two suspects when a female suspect pulled a knife and stabbed the victim in the back.
The victim dropped his property and a second male suspect grabbed the property and both suspects fled on foot, police said.
The victim was transported to Northwestern Memorial Hospital in fair condition, police said.
No one is in custody and Area Three detectives are investigating.