The collapse happened around 3 p.m. at a building on Medill Avenue near Ashland.
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The building is home to the Goldfish Swim School, ABC7 was told.
A spokesperson for the Chicago Fire Department said the building was evacuated after the collapse, and no one who was inside needed to be taken to the hospital.
One person was inside when the partial collapse happened, but they were able to get out safely and they were not injured.
"It is locked down. It's cordoned off," Chicago Fire Department Deputy District Chief Scott Shawaluk said. "The only people who have access to it, right now, are the Building Department, ComEd, and the Peoples Gas. They're on the scene, but once they're done, the building will be locked down."
The cause of the collapse was not immediately known. There is a possibility it was related to scattered storm moving across Chicago Thursday afternoon, fire officials said.
READ MORE | Chicago weather forecast: Strong wind, rain flip small plane in west suburbs; branches down in city
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People inside of a three-story building connected to the swim school were also evacuated out of an abundance of caution. That building did not sustain any damage.
Goldfish Swim School posted on social media that all swim lessons would be canceled for the day.