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The shooting happened in the Brighton Park neighborhood's 4300 block of South Kedzie Avenue at about 4 a.m. on Sunday, police said.
WATCH: CPD provides update after 5 shot, 3 killed amid street drifting
CPD provides update after 5 shot, 3 killed amid street drifting
Police said they responded to calls of a caravan that had taken over the Archer and Kedzie intersection, where drifting occurred.
Video shared with ABC7 shows spectators and participants taking over the streets and driving recklessly near the intersection.
Video shows reckless street stunts moments before a deadly shooting in Brighton Park
At least 13 rounds were fired, police said. Four male shooting victims self-transported to Holy Cross and Mount Sinai hospitals.
The three victims who died, including two 20-year-olds, were affiliated with a gang, police said. The third victim's age is not yet known.
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The two men who survived, 21 and 19 years old, are in serious condition, but expected to recover from their injuries, police said. It is unclear how the drag racing escalated into a shooting.
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Police did not recover any guns on the scene and said they are still looking to speak with "one or two people" who are "not necessarily" those in the hospital.
No arrests have been made and Area One detectives are investigating.