Around 5:40 p.m., police say the two male victims were near the sidewalk in the 600 block of East 40th Street in the Bronzeville neighborhood when they were struck by gunfire.
The 14-year-old was struck in the chest and transported to the University of Chicago Medical Center where he died from his injuries, police said.
The 13-year-old was struck in the buttocks and taken to the same hospital in good condition.
Nobody is in custody, police said.
The investigation is ongoing.