Just after 3:30 p.m., the 60-year-old man was in the 1200 block of South Spaulding Avenue when three males and a female approached him, according to Chicago police.
Someone in the group pulled out a knife and told the man they wanted his personal property, police said. The man gave the suspects his belongings and the offenders fled east on 13th Street.
Police said the victim was not injured during the armed robbery.
No one is in custody and Area Four detectives are still investigating.