The two were in the 0- to 100-block of East 71st Street about 2:15 a.m. when someone in a silver sedan fired shots, CPD said.
Chicago fire crews took one of the teens to the University of Chicago Medical Center in good condition, with a gunshot wound to the right shoulder. The other was also taken to U of C in serious condition, with a gunshot wound to the back.
RELATED: 3 wounded in South Austin shooting outside gas station: Chicago police
No one was in custody later Thursday morning.
Area One detectives are investigating.
INTERACTIVE SAFETY TRACKER | Track crime and safety in your neighborhood