The damaged CitiBank is located on North Halsted Street and Armitage Avenue.
Officers discovered it just after midnight, when witnesses waved them down, while on patrol.
The witnesses allegedly saw the vandals break two windows and spray-paint words on the bank, police say.
ABC7 Chicago blurred some profanity that was spray-painted on the building.
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As the suspects were running away, officers were able to catch one of them and arrest him.
The 56-year-old man was taken to Illinois Masonic hospital for observation in good condition.
The other two suspects got away, police say.
Area Three detectives are now investigating.
A spokesperson for Citi said in a statement, "We are cooperating with the Chicago Police Department's investigation into last night's disturbing act of vandalism at one of our two Lincoln Park locations. We're working to get the branch back up and running to serve customers as soon as possible."
A monument in honor of Abraham Lincoln was vandalized on Monday in Lincoln Park.
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