The shooting happened in the 0-100 block of East Washington Street at about 9 p.m., police said.
Police said a 16-year-old boy was shot in the arm, and a 17-year-old boy was shot in the leg. Both victims were transported to Northwestern Hospital in fair condition.
There is no one in custody and police are investigating.
There was a large police presence downtown as officers worked to clear large crowds. Video showed dozens of officers lining the street near Washington and State.
Earlier on Saturday night, a viewer shared cell phone video showing a group of people jumping on a vehicle along Michigan Avenue.
Police did not immediately provide further information.
This is a developing story. Check back with ABC7 for updates.