Walter Dennard, 19, of Chicago is charged with two counts of attempted murder in the first degree.
The police-involved shooting occurred in the 2100-block of South Washtenaw in the West Side neighborhood after officers "observed an individual acting suspiciously."
Police say when they stopped to question Dennard, he produced a gun and shot at officers. The officers returned fire, striking him in the right shoulder and left leg. Officers chased him to the back of a home in the 2100-block of South California where they rendered medical aid and took him into custody.
Dennard was taken to Mount Sinai Hospital in critical condition, police said, and a weapon was recovered at the scene.
The officer-involved shooting is under investigation by the Civilian Office of Police Accountability, and the officers have been placed on administrated duties for 30 days is protocol.