It happened before 11:30 p.m. Sunday in the 4700 block of North Carlisle Street.
Police say four men got into an argument, then shots rang out.
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One man was taken to the hospital in critical condition with gunshot wounds to the chest.
Medics took another man in stable condition to be treated for a stomach wound.
Officers arrested one suspect after police say he jumped out of a getaway car near Germantown and Brunner Streets.
They brought in K-9 units to search for the second suspect, who remains at large.