It happened around 5 a.m. at the '7 Days' Mini-Market on the 2400 block of North 29th Street.
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The thieves can be seen on video tying a chain around the ATM and using a U-Haul truck to rip the machine from the ground.
Two of the suspects then lifted the machine onto the truck before driving off.
Police say the U-Haul was later recovered on the 2400 block of West Montgomery Avenue, without the ATM inside.
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The machine was then found empty on the 1800 block of North Taylor Street. It is unclear how much money was inside, according to police.
Residents in the area say that while the crime is a bit absurd, it isn't surprising.
"Very ridiculous," said Dione Hayes from the Strawberry Mansion neighborhood. "That's the first time I've seen something like that, but people have been trying to find different ways to break into ATMs for the longest."
The loss of the local ATM has left a void in the community around it.
"I'm physically unable to drive, so I gotta walk over to Temple University to get my money out. To my knowledge, no banks around here that I can use," said Kevin Neibauer from Strawberry Mansion.
Over the last year, police say there has been an uptick in ATM thefts across the city and thieves have been getting craftier by the day.
Officials say they have seen it all, from masked suspects ripping ATMs out of stores and breweries to thieves using explosives to try and blow open an ATM outside of a Wells Fargo.
"You'll be surprised, especially if you need the money, people are willing to do anything," said Hayes.
Police say they do not believe these suspects are involved in any other ATM robberies at this time.
Investigators ask that if anyone has information on the theft to contact the police immediately.