Chicago Police Department spokeswoman Melissa Stratton said the two men, ages 18 and 20, were taken into custody early Sunday morning and are being questioned. She said no charges have been filed.
The development comes one day after Hadiya Pendleton's funeral, which was attended by first lady Michelle Obama and several other dignitaries.
Pendleton was shot to death Jan. 29 in a park that is about a mile from President Barack Obama's home on the city's South Side. Police have said Pendleton was an innocent victim in a gang-related shooting.
Just days before her death, the band majorette was among the performers during events for Obama's inauguration.
Her slaying brought new attention to Chicago's homicide rate, and came in a January that was the city's deadliest in a decade. In 2012, Chicago recorded 506 homicides.
Among the other dignitaries at Saturday's funeral were Chicago Mayor Rahm Emanuel, Illinois Gov. Pat Quinn, U.S. Education Secretary Arne Duncan, the Rev. Jesse Jackson and U.S. Rep. Bobby Rush.
