Police say the suspect pulled a knife on the 17-year-old victim and forced him to a secluded area in the 1600-block of South Damen.
The victim was able to escape and call for help.
The suspect is described as being in his early to mid-30s, 5'3", 225 pounds with brown hair and green eyes. He was last seen running away on Damen.
Investigators say the suspect speaks broken English with a Spanish accent.
Anyone with information should call Chicago Police.