Elon Love, 17, and Eric Thomas, 18, have been accused of "jumping" 65-year-old Willie Haynes on Friday.
Police said Hayes was trying to pick up his cousin from Stroger Hospital when he was hit in the head near Polk Street and Damon Avenue.
The two suspects reportedly beat and kicked Haynes before taking $100 out his pocket.
Both men were arrested within an hour. Bail was set at $100,000 for both Love and Thomas.