The boy was walking around 4 p.m. northbound on Laramie Avenue near Pensacola Avenue when he was approached by a man who said he had something for him, police said.
The man was on the phone and the boy overheard a male voice on the phone ask if he "got him yet," police said in the alert.
The boy saw a dark gray Jeep reversing on Pensacola Avenue toward him and ran away.
Police said it was not clear if the vehicle was involved in the kidnapping attempt.
The suspect is described as a man in his 50s with gray, medium-length facial hair and fair complexion. He was wearing all black clothing at the time of the incident including a black sweater and baseball cap along with black-framed glasses.
He also walked with a limp.
Anyone with information is asked to contact Area Five detectives at (312) 746-6554.