Chicago police said the carjacking took place in the 4300-block of West Cornelia at about 4:50 a.m.
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One of the victims said he was walking to the car where his friend waited. That's when three people got out of a car with guns.
"They told us to give them everything," said victim Javier Hernandez. "They took my wallet, my phone. They took his car and his wallet."
Police said the carjackers fled in the victim's 2015 gray Mazda. No injuries were reported and no one is in custody.
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This comes amid a surge in carjackings in the Chicago area, including two in the same block in Edgewater Thursday night. A Chicago police spokesperson told ABC7 Friday morning that as of 8 a.m., there have been 204 carjackings this month.